John Lewis posts £92m loss after ‘unprecedented cost inflation’ September 15, 2022 John Lewis Partnership has posted a £92m loss before tax, blaming shoppers spending less due to inflationary pressures in the first half of the year. This was versus a £69m profit compared to the same period last year, although the partnership said on Thursday it was “not unusual for us” to make a loss in [...]
THG share price dives after cutting yearly profit expectations September 15, 2022 THG’s share price has dived after slashing its yearly forecast, pointing to a slowdown in consumer enthusiasm for beauty and health products, In half-year results on Thursday, the retailer said it anticipates adjusted core earnings of £100m to £130m in 2022, much lower than the £161m it recorded last year and previously expected to match. [...]
Zara owner Inditex admits further price increases are on the way September 14, 2022 Zara owner Inditex has admitted it plans to increase prices again this autumn, as it battles elevated headwinds. It comes as clothes shoppers are facing their own constraints on discretionary spending as household bills rocket. Europe’s largest fashion retailer will boost prices in the second half of the year, its chief financial officer Ignacio Fernandez [...]
Shares dive for Joules after stake acquisition talks with Next called off September 14, 2022 Joules’ shares have been further subdued after it confirmed it is no longer in discussions with Next acquiring an equity stake in the lifestyle group. The ailing retailer’s share price was down around twelve per cent in early afternoon trading on Wednesday, following an announcement the day before. Shares were down by 33 per cent [...]
Dunelm continues with strong sales growth despite economic headwinds September 14, 2022 Homewares retailer Dunelm posted strong sales growth this morning, despite ongoing macroeconomic concerns. In its full year results, the firm posted sales growth of 16.2 per cent, with total sales 41 per cent higher than 2019 levels. Sales hit £1.5bn, with profit before tax at £209m. Active customers grew by 8.5 per cent over the year, [...]
Mothercare shares surge as baby goods seller returns to profitability September 13, 2022 Shares in Mothercare surged by more than 60 per cent today after the British baby-care products retailer said it had swung back into profitability over the past financial year. The Watford headquartered company posted profits of £12.1m for the financial year 2022, compared to a £21.5m loss in FY 2021. The retailer said the “significant [...]
Forget tech, hospitality or transport: These are Britain’s most profitable sectors September 13, 2022 At the beginning of this year, the UK counted around 5.6 million private sector businesses. Described as the backbone of the UK’s economy, SMEs account for 99.9 per cent of all businesses in Britain. With house prices currently at a record high, it’s no surprise that business and property services are amongst the sectors making the most profit in the [...]
Discounters Aldi and Lidl keep taking market share as Brits now pay £571 more for groceries September 13, 2022 Discounter Aldi has become Britain’s fourth largest supermarket for the first time while Lidl’s market share is also in the lift, according to new data out this morning. The findings come as Brits are now paying a record £571 more on average for their groceries than last year Grocery price inflation hit 12.4 per cent [...]
Michael Murray: Frasers ‘increasing efforts’ to reach out to City investors September 12, 2022 The new boss of Frasers has pledged to repair relations between the retailer and the City. In an interview with The Financial Times, Michael Murray said the Sports Direct owner was “definitely going to be increasing its efforts” to reach out to investors. The retailer was presently recruiting for an investor relations manager, as well [...]
Crypto market prepares for Ethereum Merge as slowdown is expected to continue September 12, 2022 CryptoCompare's Francisco Memoria casts an expert eye across the cryptocurrency markets over the past seven days.