Barclays pulls back from Africa with £538m Absa sale September 1, 2022 British lender Barclays announced it had shed its remaining 7.4 per cent stake in South African bank Absa today as it dramatically pulls back its presence in Africa. Bosses at Barclays said this morning the sale would earn Barclays around £538m, representing around a £31m loss on its investment. The sale followed an announcement from [...]
Surge in back-to-school sales pushes Shoe Zone’s profit outlook for third time this summer August 31, 2022 A surge in back-to-school sales has helped retailer Shoe Zone to increase its full-year profit outlook for the third time in as many months. The discount shoe chain said trading continued to be better than expected during August, with strong demand for back-to-school items and summer shoes boosting business. Shares jumped more than 10% in [...]
Fuel be surprised: Co-op sells petrol business to rival Asda for £600m August 31, 2022 The Co-operative Group (Co-op) has announced it will sell the company's petrol forecourt business to Asda in a £600m deal.
Joules pushes back against rumours that Next rescue deal has soured August 30, 2022 Joules has pushed back against reports that discussions with Next over a rescue deal have soured.
National Lottery licence winner Allwyn posts strong quarter despite consumer squeeze and legal battle August 29, 2022 Allwyn, the winner of the fourth National Lottery licence, has posted strong quarterly results this morning despite weaker consumer sentiment and its ongoing tussle for the lucrative contract.
You wonk believe it: Lidl and Waitrose welcome misshapen fruit and veg amid drought conditions August 26, 2022 Both Waitrose and Lidl have come out this week to announce that they would be relaxing size and shape guidelines for fruit and vegetables following drought-like conditions for farmers.
Quality Street tub shrinks once again as inflation bites for Nestlé August 25, 2022 Nestlé has shrunk the size of its Quality Street tubs once again this year as inflation takes a bite into profits.
Sharpening inflation concerns weigh on FTSE 100 retailers August 23, 2022 Sharpening concerns over high inflation triggering a slowdown in consumer spending weighed on London markets today. The capital’s premier FTSE 100 index dropped 0.61 per cent to 7,488.11 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.99 per cent to 19,306.89 points. Retailers [...]
Shoppers spend more at convenience stores this summer while volume sales at large grocers dip August 23, 2022 Convenience stores have seen sales buoyed this summer, as shoppers coughed up £3.6bn on groceries in them over the past month. Over the four weeks to 13 August, convenience stores made up some 28.9 per cent of sales, according to fresh data published by NielsenIQ on Tuesday. Total till grocery sales saw a growth of [...]
Even as we teeter on the edge of a recession, we will create new opportunities August 23, 2022 NECESSITY, as the old saying goes, is the mother of invention. That’s why periods of economic or social upheaval often coincide with exceptional innovation – the rapid development of the Covid-19 vaccine, based on breakthrough mRNA technology, being a perfect example. Today, the global economy is in precarious shape. Europe, in particular, faces likely recession [...]