The Notebook: Susannah Streeter talks Brits’ love of brands, ready meals and Eurovision May 16, 2023 The notebook is a place for interesting people to say interesting things. Today, it’s the turn of former journalist and now Hargreaves Lansdown’s head of money and markets Susannah Streeter. Our love of big brands helps fuel inflation fires Brand power is the much-lauded virtue of the world’s most successful companies. But this much-admired characteristic is partly [...]
Boohoo share price soars as profits halve: Brits ditch fast-fashion and head back to the high street May 16, 2023 Online fashion retailer Boohoo said its profits halved, as the cost of living crisis continues to hit consumers’ spending and Brits flock back to physical stores. Pre-tax profits for the group halved during the 12 month period ended 28 February 2023 to £63.3m, down 49 per cent, with revenues dropping 11 per cent to £1.77bn. [...]
Chicken goujons and late nights give Greggs another positive quarter May 16, 2023 British bakery and fast food chain Greggs said it saw strong sales growth in the first 19 weeks of 2023, as it continued the roll-out of new shops, longer trading hours and added extra options to its menu. Greggs said that total sales in the 19 weeks to 13 May 2023 were £609m, up from [...]
Online retailer making waves around the world May 15, 2023 It started nearly 20 years ago with a keen record collector looking to find a market for some of his discs on eBay – then still a relatively new online auction website. Now Rarewaves.com is one of the largest online marketplace retailers in the world selling all manner of goods to all the countries around [...]
Former ballroom dancers light a candle on international trade May 15, 2023 In 2001 the Danish-born couple set up Sebnini, which specialises in luxury fragranced candles and diffusers. It has crowned recent growth in overseas sales with a King’s Award for international trade. The inspiration began when they started bringing candles for their own enjoyment back from Denmark to the UK. Although candles and scent diffusers are [...]
Currys share price soars as profit guidance lifted after trading ‘better than expected’ May 15, 2023 Currys has lifted its prospects for the rest of the year, saying its profit before tax is expected to be £110-120m, up from previously around £104m. Shares in the retailer jumped almost six per cent to 59.45p following the announcement this morning, to their highest level since early April. Currys, which sells everything from computers [...]
Burberry hopes to be back in fashion thanks to China reopening May 15, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
Cost of card payments slammed as ‘startling’ after Mastercard exec defends fees May 15, 2023 A lobby group has today warned of the “startling rise in the cost of accepting cards” for small businesses after the European chief of Mastercard defended the fees it levies on merchants over the weekend. Interchange fees, which are charged to merchants and paid to the card issuing bank and payment network, have climbed sharply [...]
Burberry: Luxury British brand’s investors hopeful of China spending resurgence May 12, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
THG shares tumble after bosses shut down Apollo takeover talks May 12, 2023 Retail group THG has shut down takeover talks with Apollo after its board deemed the US buyout giant had tabled “inadequate valuations” for the firm.