Dreams of ‘future drinking’ bolsters wine merchant Berry Bros November 7, 2022 THE UK’s oldest fine wine merchant Berry Bros & Rudd said profitability soared this year, as wealthy collectors keep their eyes on “future drinking” through hard economic times. The family-owned business said turnover climbed 7.2 per cent to £220.2m in the year to March 2022, whilst EDITDA rocketed 107 per cent. Berry Bros, which also [...]
Crypto market volatility plunges amid widespread accumulation phase November 7, 2022 Data from CryptoCompare shows that the price of Bitcoin moved up slightly over the past week.
Struggling retailer Joules begs investors for fresh cash as merciless restructure looms November 7, 2022 Struggling retailer Joules has revealed talks with investors including founder Tom Joule to inject cash into the business alongside a possible company voluntary arrangement (CVA) restructuring as sales continue to disappoint. The group said Mr Joule – who has recently returned to the firm as product director – is among a number of “strategic investors” [...]
Retailers bet on coronation boost after extra May bank holiday announced November 6, 2022 Retailers are hoping for a royally big boost next year after the government announces an extra bank holiday for King Charles III’s coronation. In an announcement today, Prime Minister Rishi Sunak confirmed the UK-wide holiday would fall on Monday 8 May, following the Coronation on Saturday 6 May. “The Coronation of a new monarch is [...]
Cost of living special: Which everyday items have risen in price by how much recently? November 6, 2022 New figures showed recently that retail sales volumes have plummeted to 1.3 per cent lower than pre-coronavirus levels, as rising prices and the cost of living continues to bite. The ONS data said at the end of October that in particular food store sales were down, by 1.8 per cent last month, which is 3.2 [...]
Bleak Friday? Retailers hit by spending slowdown as shoppers shun high street November 4, 2022 High street bosses are nervously awaiting Black Friday as retail sales volumes dropped dramatically last month. Sales volumes have dropped significantly, although this has been masked by historically high levels of inflation, data from accountancy firm BDO revealed today. In-store like-for-like sales saw the lowest growth since lockdown in February 2021, with growth of just [...]
West End Christmas intake to be squeezed by pandemic and cost of living at £1.55bn November 3, 2022 West End Christmas intake is set to be a quarter up from last year but still almost 30 per cent down on pre-Covid levels. Around £1.55bn is set to be splashed out in the heart of London’s shopping district, as the capital bounces back from the pandemic in a restriction-free Christmas. The cost of living [...]
Sainsbury’s profits dip as supermarket giant battles to keep prices low November 3, 2022 Sainsbury’s has posted subdued half-year profits, after taking a hit to keep prices competitive for customers and boost pay for staff. The supermarket giant, which also owns Argos, said underlying pre-tax profit dipped eight per cent to £340m over the half-year to 17 September , compared with the same period last year. It had previously [...]
Ed Warner: English football of all levels penetrating hyper-commercial US sport November 3, 2022 Does anyone in England call the Premier League the EPL? I ask because I had a random encounter at Heathrow last week with one of a group of five Crystal Palace fans headed to Selhurst Park for their “first EPL game”. The Ted Lasso effect maybe? I only hope they made it to the Clifton [...]
Next sales ahead of expectations as analysts warn ‘worst still to come’ November 2, 2022 Fashion stalwart Next posted better than expected full price sales while analysts have warned the full impact of market volatility is yet to be seen. The retailer shared a 0.4 per cent boost to sales in its third quarter versus last year. The London listed chain reiterated full year guidance for profit before tax of [...]