Letters: Grocers, get ahead of the game July 26, 2022 [Re: Jubilee weekend boom fails to lift June’s retail sector, July 22] Given the difficult winter ahead, it is unsurprising the latest ONS retail data showed that many are choosing to spend less. However, the rise in food sales tells a slightly different tale. Driven by the Queen’s Platinum Jubilee, it speaks to the ability [...]
Naked Wines’ CFO departs role immediately after wine seller’s gloomy sales forecast July 25, 2022 Naked Wines has said its chief financial officer has left his position immediately by mutual agreement, following a bleak sales forecast from the online wine seller. The London-listed company said Shawn Tabak, who held the position of director as well as the top finance job, departed his roles last week on 22 July. Former CFO [...]
Jubilee weekend boom fails to lift June’s retail sector July 22, 2022 An uptick in sales of food during the Jubilee weekend was offset by slower sales across the rest of the retail sector to see June retail volumes drop 0.1 per cent compared to previous month. The Jubilee weekend saw food shops sell 3.1 per cent more food last month than they did in May, as [...]
Now hiring: Aldi launches recruitment drive for 1,000 new logistics roles July 21, 2022 Aldi is the latest firm to take part in a logistics recruitment boom, creating some 1,000 roles across the country over the next year. The discount supermarket wants to expand its distribution, transport and maintenance teams at its 11 regional distribution centres across the country. It comes as retailers are facing a race for distribution [...]
All Bar One owner Mitchells & Butlers has drop in sales amid ‘major challenges’ from inflation July 21, 2022 All Bar One owner Mitchells & Butlers continue to face a “major challenge” due to the impact of the pandemic and ongoing inflation rises. The retailer experienced a drop in sales by 1.6 per cent in the year to date, claiming a mixture of the Jubilee weekend, industrial action and hot weather saw people go [...]
Mike Ashley’s Frasers Group posts record profits as retailer’s revenues surge July 21, 2022 Frasers Group today posted “record” pre-tax profits after the group’s revenues grew 30.9 per cent, to heights of £4.75bn. The revenue growth saw Mike Ashley’s retail conglomerate post “record” adjusted profits before tax of £344.8m. The record results come after the firm posted pre-tax profits of just £8.5m in 2021, due to the impacts of [...]
RPC posts record revenues after sales surge 10 per cent year on year July 20, 2022 City of London law firm RPC today posted record revenues of £149.4m across its global operations, after the firm’s sales jumped 10 per cent on the previous year. The commercial law firm’s record results mark a 36 per cent increase in RPC’s revenues since the financial year 2020 – on the back of surging demand [...]
Abrdn poised to offload private equity arm July 20, 2022 FTSE-100 asset manager Abrdn is poised to offload the division that manages its private equity funds as it looks to simplify its structure, according to reports.
In The Style entices new customers with influencer partnerships as it posts pre-tax loss July 19, 2022 Digital fashion retailer In The Style has seen its share price slump after posting a pre-tax loss in its debut full-year results as a public firm. Shares were down more than 35 per cent on Tuesday afternoon after CEO Sam Perkins admitted the year ahead would likely be “a challenging one for consumers and retailers.” [...]
Johnson & Johnson cuts sales and profit forecasts in global economic downturn July 19, 2022 US pharmaceutical giant Johnson & Johnson has cut its sales and adjusted profit forecasts, as a post-lockdown slowdown and a global economic downturn collide. Sales are anticipated to be around $1bn less than bosses thought in April, in the range of $93.3bn and $94.3bn. In its latest quarter, Johnson & Johnson, which owns skincare brand [...]