Outgoing lottery operator Camelot faced with falling ticket sales and Brits ‘tightening their belts’ June 28, 2022 Falling sales of tickets and instant win games amid signs that players had “tightened their belts” in the face of soaring costs are hitting outgoing UK National Lottery operator Camelot hard. Camelot, which recently launched legal action against the Gambling Commission after losing the lottery’s next licence to rival Allwyn, saw sales drop 3 per [...]
Supermarket shoppers turn to frozen and canned meats in a bid to slim cost of weekly shop June 28, 2022 Supermarket shoppers are swapping out traditional meat products for cheaper frozen and canned alternatives, in a bid to cut down on costs. According to freshly published data from NielsenIQ, volume sales across all categories at UK supermarkets dropped 5.5 per cent over the past four weeks. With household bills sky-rocketing in recent months, shoppers have [...]
Cake Box plans to swell to 200 stores after e-commerce boost gives profits a 83 per cent jump June 27, 2022 Cream cake retailer Cake Box has outlined plans to open more stores as it reported a pre-tax profit of £7.7m for the latest financial year. This marked a 83.3 per cent jump from the previous years as it continued its post-pandemic recovery. Revenue rose by 50.7 per cent from £21.9m to £33m. Neil Sachdev, non-executive [...]
Fast-growing spectacles boutique Kirk & Kirk eyes UK-wide launch with chain of pop-up shops June 27, 2022 Kirk & Kirk – founded by husband and wife duo Jason and Karen Kirk 30 years ago – confirmed this morning it is planning to make its first “foray into retail” this autumn. The British eyewear designer favoured by celebrities including Robert Downey Jr revealed plans to launch a chain of pop-up shops after seeing [...]
Arts and crafts giant Hobbycraft’s expansion drift undiminished with new stores and recruitment drive planned June 27, 2022 Several new stories and a recruitment drive are on the agenda of arts and crafts retail chain Hobbycraft as the company confirmed this morning it plans to continue its expansion after a lift in profits for the past year. The company said its adjusted pre-tax profit for the 2022 financial year was £15 million, which [...]
Week ahead: City eyes housing stats and BoE governor Bailey remarks June 26, 2022 The UK’s red hot housing market is set to revert to more normal territory driven by the cost of living crunch chilling demand for homes, fresh data released this week that will be closely watched by the City. London’s premier FTSE 100 index has rebounded after suffering bruising losses of late caused by investors around [...]
Retail sales volumes fell last month as the cost of living crunch eats into April’s gains June 24, 2022 Retail sales volumes fell by 0.5 per cent last month, according to the latest figures, as the cost of living crisis eats away at gains made in April. While the figures suggest current inflation levels and concerns over a recession have Brits’ pinching their purse strings, sales volumes were 2.6 per cent above pre-pandemic levels, [...]
Shares plunge for Naked Wines after bleak sales guidance warning June 23, 2022 Naked Wines’ shares tumbled by around 40 per cent on Thursday after the online wine retailer warned its sales would take a hit this year. The London-listed retailer cautioned its shareholders that sales could plunge by as much as four per cent in the year to the end of March. Naked Wines would “not pursue [...]
Amazon tells government online sales tax would wound small retailers using its platform June 23, 2022 An Amazon manager cautioned the government that a levy on internet heavyweights would cause serious damage to the UK’s small retailers, According to a report by Sky News, John Boumphrey, Amazon’s UK country manager, urged a Treasury minister against an online sales tax (OST) at a meeting with retail chiefs on Wednesday. A one per [...]
Un-tea-lievable: Welsh government considers banning children from buying tea and coffee June 23, 2022 The Welsh government is considering stopping the sale of tea and coffee to under-16s as part of a wider ban on energy drinks. A consultation on the proposal to end the sale of energy drinks to children also asks respondents whether the ban “should be widened to consider other drinks typically high in caffeine, such [...]