UK to officially avoid recession in first half of this year as Bank of England readies twelfth straight interest rate rise May 8, 2023 Britain is set to have officially avoided a recession in the first half of this year in a sharp turnaround in fortunes for the country’s economy, figures out this week are expected to reveal. Gross domestic product (GDP), which measures the amount of goods and services produced in the UK, is anticipated to have risen [...]
Asos: Will fast fashion darling see share price fly off the shelf? May 7, 2023 Online fashion giant Asos is expected to post another half-year loss and shareholders will hope for signs of improving demand from cash-strapped shoppers. It is among fast-fashion retailers to have become heavily pressurised over the past year by a brutal combination of rocketing costs, supply chain disruption and weaker consumer spending. The FTSE 250 company [...]
We shouldn’t be running out of tomatoes because we can’t sort out our supply chains May 5, 2023 Over the last month, bad weather in Europe and Northern Africa led to certain salad items being in short supply across the UK. Leading supermarkets, including Tesco’s, Morrisons, Aldi and Lidl all limited the number of tomatoes, peppers and lettuce that consumers can buy. Product shortages aren’t necessarily unusual, but since the pandemic, they have [...]
Boohoo settles £156m court case over fake discount claims May 4, 2023 Boohoo has settled a staggering $197m (£156m) US court case in which the fast fashion giant was accused of faking discounts for customers. The pure-play online retailer, which also owns Pretty Little Thing and Nasty Gal, was accused of engaging in a “deceptive pricing scheme”, with the court filing claiming Boohoo would falsely raise the [...]
Trainline shrugs off UK strikes with £4.3bn in ticket sales as continental success keeps it on right track May 4, 2023 Trainline reported bumper ticket sales of £4.3bn for the last 12 months, up 72 per cent year on year and 16 per cent higher than pre-Covid. The London-listed seller saw revenues of £327m, up 74 per cent from last year, citing surging ticket sales in the UK and on the continent especially as a key [...]
Wolfson does it again? Next beats revenue expectations despite recession fears May 4, 2023 Next remained confident in front of investors this morning with better than expected sales in the first three months of the year.
Coronation: £1m windfall for ceramics giant Halcyon Days as Brits buy King Charles plates and tea cups May 3, 2023 The chief executive of one of the UK’s biggest makers of luxury ceramics has said that Brits should not “underestimate” the value of the Royal Family, as it prepares to rack in a million pounds in sales from Coronation themed tea cups and plates. Pamela Harper, head of the Halcyon Days, a pre-eminent supplier of [...]
BNP Paribas first-quarter revenue beats expectations as trading outperforms May 3, 2023 BNP Paribas’s first-quarter sales beat market expectations as trading business at the eurozone’s biggest bank outperformed most of its peers, while it started to reap the benefits from rising interest rates. BNP’s quarterly profit more than doubled in the first quarter from a year earlier, bolstered by gains from its much-anticipated sale of its U.S. [...]
Tide turns against Ping An as HSBC’s pay outs convince investors, analysts, and boost the share price May 2, 2023 The tide seemed to turn against Ping An today as HSBC recorded bumper profits and a major shareholder rejected the Chinese insurer’s spin-off campaign.
Greene King revenues top £2bn as pub chain hopes inflation fears will be drowned out by a boozy Coronation May 2, 2023 Greene King said revenues continued to soar however the chief executive of the group warned that inflation and the cost of living crisis would prove a “tough backdrop” for the hospitality sector. The pub operator, which has over 2,000 sites across the UK, reported a revenue hike of 62.2 per cent for the 52 weeks [...]