Finding opportunities in stagflationary times July 7, 2022 Slowing growth and rising inflation is a negative combination for both equity and bond markets. Nevertheless, there are opportunities emerging for global equity investors. This has been a challenging year for equities. Russia’s invasion of Ukraine has led to soaring energy and commodity prices, a global stock market slump and elevated volatility. Recession appears likely, [...]
Watches of Switzerland hails ‘tremendous’ growth as profits hit £126m July 7, 2022 Boss of luxury goods retailer Watches of Switzerland said it had been a “tremendous” year for the firm today as it reported a 98 per cent jump in pre-tax profits for the full year.
Currys commits to price freeze as full year profits jump July 7, 2022 Electrical retailer Currys committed to a price freeze on dozens of products today as it reported a jump in profits to £126m for the full year.
Sign-up economy falls apart as Brits ditch costly subscriptions en masse due to fast-shrinking budgets July 7, 2022 New figures out this morning show that the growth of the “subscription economy” is stalling rapidly as living costs squeeze household budgets and people return to pre-coronavirus pandemic routines. More than a third (36%) of people say they have cancelled at least one subscription because their disposable income has fallen as interest rates and inflation [...]
London shops hit by falling footfall as Brits tighten belts amid inflation July 7, 2022 Central London shops may see a spending slowdown in the weeks to come, with city centres still reeling from the impact of office workers remaining at home, industry experts have warned. While the gap between 2019 footfall levels did narrow slightly in June versus May due to the Platinum Jubilee, sales lagged towards the end [...]
The Very Group hires ex-Walmart executive as CEO amid £4bn IPO rumours July 6, 2022 The Very Group has snapped up the former president and CEO of Walmart Japan Lionel Desclée to run the online retail giant as it mulls a £4bn float. Desclée will join the company on 19 September, as current CEO Henry Birch will step down after four and a half years overseeing the firm. Very Group [...]
AO World looks to raise £40m amid cash crunch fears July 6, 2022 British electrical retailer AO World revealed it is looking to raise £40m today to shore up its balance sheet just days after its share price plunged amid fears over its cash reserves. It was revealed earlier this week that a third-party credit insurer serving some of the firm’s suppliers had slashed its cover in light [...]
Topps Tiles’ commercial business to climb into profitability next year July 6, 2022 The UK’s largest tile retailer, Topps Tiles, has said its historically loss-making commercial business will climb into profitability next year, as it continues to navigate falling consumer confidence, supply chain challenges and historic levels of inflation. “We remain confident that the business will break even in the second half of the year and then move [...]
Consumer confidence plunges to Covid lockdown lows as households’ financial worries spiral July 6, 2022 Consumer confidence in the economy has plunged to its lowest point since the start of the pandemic as Sainsbury’s top boss warned the worst was yet to come. According to Which? research published today, only eight per cent of consumers felt the UK economy would improve over the next 12 months. However, nearly eight in [...]
Sainsbury’s boss has grim warning for Brits: The pressure on your budgets will only intensify July 5, 2022 The CEO of Sainsbury’s warned this morning that rising pressure on household budgets “will only intensify over the remainder of the year” as he pledged to invest more money into improving value for shoppers. Simon Roberts, chief executive of the supermarket group, said it is working to reduce costs across its operations amid continued inflation. [...]