Remarksable! M&S raises profit outlook after fresh boost from clothing and food sales August 15, 2023 M&S has raised its profit outlook for the year after the high street stalwart was boosted by sales in its clothing and food arm. The UK retailer reported a 11 per cent hike in sales across its food offering in the first 19 weeks of the year as the business pumped further investment into its [...]
How bots came to rule the world, from Ticketmaster to global elections August 15, 2023 Bots are not only a problem on social media: they shape retailers like Ticketmaster and can influence politics, including global elections. Yet the danger they pose is underestimated, writes Elena Siniscalco
L’Occitane share price soars as billionaire owner mulls deal to take business private August 14, 2023 Luxury French skincare brand L'occitane saw its share price jump 8.82 per cent this morning on the Hong Kong Stock Exchange following news its billionaire owner was mulling plans to take the business private.
London losing out due to ‘tourist tax’ as US and Gulf visitors opt for Paris and Milan instead August 14, 2023 London is losing out on wealthy foreign visitors splashing their cash in Oxford Street due to the so-called ‘tourist tax’, amid renewed calls to scrap it and make the capital more competitive. The removal of VAT free shopping for international tourists continues to hurt London retailers, with visitors from the US and the Gulf cutting [...]
Analysis: Wilko collapse is the Woolworths of this financial crisis August 10, 2023 The collapse of Woolworths was described as “the first domino of physical retail Armageddon.” Although it might not justify that epithet, the collapse of Wilko shows which way the wind is now blowing.
Beyond Meat: Pricey vegan alternative’s revenue falls 30 per cent as forecast slashed August 8, 2023 Beyond Meat slashed its annual forecast for the year as its revenues plummeted 30 per cent in the second quarter due to customers becoming more reluctant to buy into pricey fake meat alternatives amid the cost of living crisis. The US company, which supplies its vegan plant based burger patties to the likes of McDonald’s, [...]
H&T: Pawnbroker to expand high street and online presence as profits soar 31 per cent August 8, 2023 H&T, Britain’s largest pawnbroker reported a 31 per cent rise in profit before tax to £8.8m – with the pawnbroker looking to cash in on desperate times by expanding its presence. Its pledge book, which includes short-term loans linked to customers’ belongings, grew 14 per cent in the six months ending 30 June, reaching £114.6m [...]
Taylor Swift helps Brits shake it off with entertainment spree but it’s a cruel summer for retailers August 8, 2023 Taylor Swift tickets, which went on sale in July, have powered a double-digit increase in entertainment spending so far this summer
Amazon forecasts bright third quarter on resilient cloud sales and shopping trends August 4, 2023 Amazon reported sales growth and profit that beat expectations as the company delivered goods faster and more cheaply to shoppers while recent cloud-computing headwinds began to subside. Amazon’s Wall Street shares surged nine per cent on the news, extending its stock market value more than $120 billion in after-hours trading. On the FTSE 100 index, [...]
FTSE 100 close: London markets flat as WPP shares slide on tumbling profits August 4, 2023 FTSE 100 was flat on Friday ending the week in subdued fashion, as advertising giant WPP’s tumbling profits led to its share price sliding. London’s flagship index was hovering between being up and dipping into the red throughout the day, and finished up at the close by almost half of one per cent. Meanwhile the [...]