Boohoo eyes £100m profit as online seller revives fortunes October 23, 2026 Fast fashion firm Boohoo has set its sights on a £100m profit after emerging from years of consecutive losses. The London-listed firm, which owns Debenhams, Karen Millen and Pretty Little Thing, said its turnaround plans are “significantly ahead” of schedule after producing its first pre-tax profit since 2021. Boohoo has endured a rocky few years, [...]
Retail sales fall faster than expected ahead of Budget October 23, 2026 Retail sales fell at a faster pace than expected in September, new figures have shown, as consumer confidence suffered a major drop ahead of the Budget. Total sales at retailers fell 0.4 per cent in September, according to the Office for National Statistics (ONS), a bigger drop than the 0.1 per cent forecast by City [...]
Budget 2026: Sainsbury’s boss urges Labour to tackle Neets crisis October 22, 2026 The boss of Sainsbury’s has urged the government to tackle the UK’s youth unemployment crisis, as he hit out at previous hikes to the cost of hiring workers. Simon Roberts, chief executive of the UK’s second-largest grocer, said John Healey must “focus on doing the right thing for young people” at next week’s Budget. In [...]
Sainsbury’s shares slide as ‘tough’ conditions slow growth October 22, 2026 Shares in Sainsbury’s tumbled after the supermarket giant posted slowing sales growth and warned that shoppers are facing “tough” cost-of-living pressures. The UK’s second-largest supermarket saw its stock slide by nearly four per cent in early trading to 346p. This came despite the firm lifting the lower end of its full-year profit target from £965m [...]
TG Jones owner Modella pulls out of race to buy Poundland October 21, 2026 TG Jones owner Modella Capital has pulled out of the race to buy Poundland but will still look to pick up some of its stores if a sale process collapses, City AM can reveal. The private equity firm, which also owns Flying Tiger, had expressed an interest in bidding for the entirety of Poundland but [...]
Halfords shares hit speedbump despite accelerating sales October 21, 2026 Halfords’ share price recovery is facing a bump in the road after warnings of a lower profit in the second half overshadowed a boost in sales. Shares in the motoring retailer fell as much as eight per cent to 256p on Wednesday morning, putting the brakes on the stock’s gradual recovery in recent months. Halfords [...]
Investors cheer end of ‘damaging’ capital gains tax Budget speculation October 20, 2026 Investment firms have welcomed reports that John Healey has ruled out a “damaging” capital gains tax raid at the Autumn Budget, after warnings the move could harm the domestic economy and weigh on Britain’s appeal to investors. The Chancellor has decided against raising capital gains tax (CGT) at the Autumn Budget next week, City AM [...]
Iceland eyes Poundland stores as buyers circle budget retailer October 20, 2026 Iceland is interested in buying a limited number of Poundland stores in the event the troubled retailer’s owners cannot find a single buyer, City AM can reveal. The discount supermarket will be on the lookout for a small number of shops if Poundland’s 600-store estate ends up being split apart, sources said. Iceland, which specialises [...]
US cybersecurity startup bets $200m on London expansion October 20, 2026 A US cybersecurity startup valued at $3.5bn is opening a new London hub as part of a $200m expansion across Europe, the Middle East and Africa, creating 200 jobs as demand for cyber defences surges. Chainguard, backed by investors including Sequoia Capital, Lightspeed and General Catalyst, will establish its regional headquarters in Clerkenwell as it [...]
August Breaks UK Credit Card Record as Balances Soar October 20, 2026 FICO UK Credit Card Market Report suggests risk teams must closely monitor payment rates and overlimit usage as rising inflation adds to financial pressure for consumers