Share buyback on the way at Wickes as it puts post-pandemic lull behind it July 25, 2023 An “encouraging” first half of the year for home improvement retailer Wickes has led the company to launch a share buyback scheme The DIY and garden centre firm reported sales growth of three per cent in the second quarter of the year, and 0.7 per cent in the first half overall. Following its positive results [...]
Matalan: Rainy weather and shift back to stores leads to revenue slump July 24, 2023 Matalan reported a challenging first quarter as poor summer weather impacted sales against the backdrop of cost of living pressures and a shift away from digital. The bargain homeware and clothing retailer said revenues in the thirteen weeks to 27th of May declined eight per cent to £263m. However, in the five weeks to the [...]
The Notebook: Neil Clifford on dyslexia, profit with purpose and the greatest American asset July 24, 2023 Where interesting people say interesting things. Today, it’s Neil Clifford, chief executive of London luxury brand Kurt Geiger Profit with purpose is keeping us on the right track I left school in 1983 with a single qualification to my name: an O-level in art. I was dyslexic, but I didn’t find that out until years [...]
He shoots, he scores! Akshun man passes excitement of Premier League to Web3 July 23, 2023 Richard Kieswick, CEO and co-founder of Akshun, tells Crypto AM about his multiple lives and how they've all led to Web3 and NFTs.
Supermarket fuel margins more than double since Ukraine war July 22, 2023 Supermarkets have more than doubled their margins on fuel since the start of the war in Ukraine, new analysis suggests. The RAC said Asda, Tesco, Morrisons and Sainsbury’s were making an average of around 4.7p per litre on fuel sales when the Russian invasion began in February 2022. The motoring services company found this had [...]
FTSE 100 close: London markets measured after strong week July 21, 2023 London markets stayed flat throughout Friday after a strong week, closing slightly higher and extending earlier gains caused by lower than expected inflation. The bluechip FTSE 100 was measured throughout the day and closed in the green at 7,658.53, while the midcap FTSE 250, which is more aligned with the health of the UK economy, [...]
THG offloads loss-making divisions in bid to streamline as share price slumps July 21, 2023 THG has offloaded its OnDemand business to the division’s management team as the online retailer steams ahead with plans to streamline its operations. The brand which included entertainment retailer Zavi and gadget and toy retailer I Want One of Those – was bought by the groups management team and has also received extra funding from [...]
Summer deals help bump retail sales as growth falls at slowest rate in a year July 21, 2023 Retail sales grew by 0.7 per cent in June 2023 with increases across all the main sectors, as warmer weather and a greater selection increased consumer spending. During the month, non-food stores sales volumes rose slightly by 1.0 per cent in June 2023, following a fall of 0.5 per cent in May 2023, according to [...]
£465m takeover of Lookers set to collapse as shareholder Cinch opposes deal July 20, 2023 The £465 million takeover of car dealership group Lookers is set to collapse after a major shareholder said it planned to block the move. Last month, the board of Lookers said it had agreed the sale of the company to Global Auto Holdings, an entity linked to privately owned Canadian car dealer network Alpha Auto [...]
Pendragon reports strong first half results but rate hikes spark concern July 20, 2023 Pendragon said this morning it expects pretax profits to rise nine per cent for the first half of 2023, on the back of a strong performance from its motor division. In a trading update, the Nottingham-based motor dealership – which is behind brands including Evans Halshaw and Stratstone – said it expects underlying profit before [...]