Aldi: Low prices ‘more important to us than short term profit’ September 26, 2022 Discount Aldi has said it has seen an extra 1.5m customers switch to shopping at its supermarkets over the past three months. The supermarket was recently declared the country’s fourth biggest, knocking Morrisons down the list, according to Kantar data. In full-year results to the end of December 2021, the budget retailer posted an 87 [...]
LXi REIT’s £500m bid for Sainsbury’s stores collapses amid market volatility September 26, 2022 LXi REIT's proposed takeover of 18 Sainsbury's stores has collapsed after the group pulled out of a share issue.
Frasers set for further MySale bid after former chairman offloads stake September 26, 2022 Frasers is set to table another cash offer for Aussie fashion marketplace MySale after a top shareholder made an “irrevocable commitment” to offload his stake to the retail group, handing it 48 per cent control.
Music Magpie’s shares plummet after downgrading rebound hopes September 26, 2022 Electronics retailer Music Magpie has downgraded expectations for its performance in the second half of its financial year.
River Island looks to break America with ‘long term’ plan September 25, 2022 River Island is readying to make its first physical footprint across the pond, after online sales have surged in the US. US sales are now several times bigger than pre-pandemic levels, according to the fashion firm’s chief executive Will Kernan. After the brand has seen surging popularity in locations such as California, New York, Texas [...]
Investors to examine retailers’ books for signs of spending slump September 25, 2022 Investors will be parsing over a slew of results from top retailers for signs of a slowdown in consumer spending in response to an economic slump. London’s premier FTSE 100 index notched a poor performance last week, shedding 3.62 per cent to close at 7,018.60 points, mainly driven by a sharp sell off on Friday [...]
Wardrobe staples collection gives rapidly growing online fashion retailer In The Style another boost September 23, 2022 The successful launch of a wardrobe staples collection has given online fashion retailer In The Style a major boost, prompting the company to say this morning it is making solid progress in its growth plan. The own-brand staples range marked a step away from its traditional influencer campaigns and will bring in more sales opportunities, [...]
The Works continues post-pandemic comeback as arts and crafts sales soar September 23, 2022 The Works continues its valiant post-pandemic comeback as revenue climbs for the high street arts and crafts store. For the year ending 1 May, total revenue hit £264.6m for the retailer, up 46.5 per cent compared with 2021 levels. This was bolstered by the fact that two-year like-for-like sales climbed 10.5 per cent, with positive growth [...]
Made.com to cut staff as it mulls sale of the business September 23, 2022 Beleaguered retailer Made.com said it will conduct a strategic review of its future options, including job cuts and possible sale of the business. The online furniture and homewares firm came to market in January last year at a price of 200p per share, valuing the group at £775m. The shares have steadily slumped ever since [...]
Queen mourning period gave tourism and retail big boost, says payment firm SumUp September 22, 2022 The Queen’s death and funeral may have led to 10 days of national mourning, but it also gave Britain a welcome tourism boost, according to payments firm SumUp. SumUp, which provides 4m small and medium-sized firms and other organisations with payment devices, said the industry experienced a spike in the last fortnight. It released data [...]