Wickes maintain pandemic momentum ahead of AGM May 26, 2022 Wickes Group has consolidated the pandemic-driven boom in sales and has maintained its full-year guidance ahead of its AGM today.
Sales drive AutoTrader to hefty profit amid pandemic rebound May 26, 2022 Revenues at AutoTrader have spiked 65 per cent this year to £432.7m, powered by a 72 per cent uplift in sales to £388.3m.
Energy firms recharge as windfall tax fears ease May 25, 2022 Investors today piled back into London-listed energy firms that were pummeled earlier this week by rumours they will be spiked by the government including them in a windfall tax on the energy sector. The capital’s premier FTSE 100 index jumped 0.51 per cent to 7,522.75 points, while the mid-cap domestically-focused FTSE 250 index, which is [...]
The City View: Offshore Energies UK CEO on deleterious effects of a windfall tax May 25, 2022 Today Andy Silvester chats to Deirdre Michie, CEO at Offshore Energies UK. They unpick the windfall tax, the risk it poses for smaller energy firms and the sector in general, the state of the energy industry, and the seemingly lackadaisical speed of the energy transition. In other news: M&S is leaving its Russian franchise business, [...]
M&S warns cost of living crunch will slow sales growth May 25, 2022 Despite posting hefty profits this morning, the luxury retailer M&S warned against upcoming inflationary headwinds.
Ralph Lauren boosts sales forecast as wealthy shoppers undeterred by price rises May 24, 2022 Luxury fashion brand Ralph Lauren upped its sales forecast for the year after resilient demand for designer clothes and accessories. The New-York based retailer said it was anticipating improved margins after robust demand from its largest markets in North America and Europe. Its core customer base of higher-income shoppers has been unaffected by the rising [...]
Cost of living crunch: Grocery price inflation hits highest level in 13 years as households struggle to pay bills May 24, 2022 Grocery price inflation has now hit the highest level since May 2009, with almost a quarter of households saying they are struggling to make ends meet. Supermarket prices have risen seven per cent over the past four weeks, according to the latest grocery sales data published by Kantar this morning. Products to see the sharpest [...]
Topps Tiles hails record turnover with Brits still hooked on home repairs May 24, 2022 Topps Tiles, the UK’s largest tile specialist, has hailed a record turnover for the first half of the year, with Brits still hooked on repairing and improving their homes following the easing of lockdown restrictions. The London-listed retailer snagged £199m in the six months to 2 April, up more than 15 per cent in comparison [...]
West End landlord Shaftesbury reaps rewards of London’s exploding rents May 24, 2022 West End landlord Shaftesbury has reaped the rewards of exploding rental growth in London, as its portfolio valuation swells as the new Elizabeth line is unveiled. The real estate investment trust raked in nearly £19m in rent in the six months to 31 March, as its offices, hospitality and leisure, retail and residential portfolio increases [...]
Strong B&Q earnings rebuild investors’ risk appetite to kick off week May 23, 2022 Investors picked up their risk appetite again during the opening trading day of the week as B&Q owner Kingfisher helped mend market sentiment. London’s premier FTSE 100 index jumped 1.67 per cent to 7,513.44 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, climbed 1.56 [...]