Next: Can the retail powerhouse continue its strong summer momentum? September 17, 2023 Next has continued to defy expectations, with the retail giant continuing to outperform rivals
FTSE 100 live: London rallies as Arm soars on US debut and Warhammer maker’s share price rises September 15, 2023 London’s FTSE 100 enjoyed a strong end to the week, as the global stocks rally continued with a stable showing from Wall Street and an improvement in China. The capital’s premier bluechip index ended the day well at over 7,30 points, more than 0.6 per cent up, having reached a high of 0.89 per cent [...]
H&M’s summer sales flatline after rival Zara owner cheers boost September 15, 2023 Fashion chain H&M has revealed its sales flatlined in the latest quarter after its biggest rival Zara owner Inditex cheered a stronger performance. The Swedish retail giant said its net sales, in local currencies, were flattish over June to September, compared to the same period last year. The weaker-than-expected quarterly update suggests that the chain [...]
Wilko: High street chain collapsed owing £400m to creditors September 15, 2023 Wilko collapsed with a well over £400m gap in its finances, according to documents published on Companies House, including £157.3m owed to trade creditors. The reports, first published by The Grocer, show that the high street chain owed £411m to unsecured creditors, and a further £25.8m was owed to HMRC. Some of the creditors included [...]
M&S turned it around and is now in FTSE 100. Here’s why John Lewis is so far off September 14, 2023 The John Lewis Partnership has had a torrid day, following an announcement it will push its turnaround plan back by two years. It’s the latest bit of bad news that has seen it fall further behind rival Marks and Spencer, whose high street revival recently raised its profit outlook after pivoting towards clothing and homeware. [...]
Lidl swings to loss of £76m as fight to keep prices low offset by surging costs September 14, 2023 Discount supermarket chain Lidl has revealed its British arm swung to an annual loss after battling to keep a lid on prices as its costs rose “across the board”. The group reported pre-tax losses of £76 million for the year to February 28 against profits of £41.1 million the previous year as it also invested [...]
John Lewis pushes turnaround plan back two years as losses narrow September 14, 2023 Losses at John Lewis have shrunk but the struggling retailer warned that its ambitious partnership plans have been pushed back two years.
Trainline shares soar as £2.6bn ticket sales help shrug off rail strike chaos September 14, 2023 Trainline’s shares soared more than 12 per cent this morning after the firm unveiled a £50m share buyback scheme on the back of booming ticket sales. Group net ticket sales at the online retailer grew by nearly a quarter to £2.6bn in the six months to August, taking revenues to £197m, a 20 per cent [...]
Mark Kleinman: The inquest into Wilko’s demise has only just begun September 14, 2023 Mark Kleinman is City editor at Sky News Inquest into Wilko’s demise has only just begun Few things elicit British consumers’ sentimentality like the imminent disappearance of a once-proud high street name. For Woolworths in 2009 and BHS in 2016, read Wilko in 2023. The sad fate of more than 10,000 employees at the family-owned [...]
Mark Kleinman: Wilko’s demise, the FTSE chair merry-go-round and Bink’s breakup with Barclays September 14, 2023 Mark Kleinman gets the Square Mile talking in his weekly column for City A.M.