Week ahead: City eyes cladding bill impact on house builders’ bottom lines April 24, 2022 Signs of the negative impact of the government turning to home builders to fix the cladding crisis is likely to draw City traders’ gaze in a week of jam packed corporate and economic announcements. London’s capital FTSE 100 index dipped 0.78 per cent to 7,521.68 over the last week, while the mid-cap domestically-focused FTSE 250 [...]
Poundland owner Pepco pledges to ‘protect prices’ as discounter names new CEO April 22, 2022 Poundland owner Pepco has vowed to “protect prices” as customers feel the pinch of rising bills. The Warsaw-listed retailer posted a 17.6 per cent rise in first-half revenue, sales were buoyed by new store openings. Customers would be protected from increases to prices by the retailer renegotiating terms with key suppliers and stock efficiency programmes, [...]
Ray-Ban maker enjoys spike in revenue ahead of a summer with fewer restrictions April 22, 2022 Eyewear group EssilorLuxottica SA, the maker of Ray-Ban, has enjoyed a spike in revenue over the past three months, as consumers gear up for summer. The French-Italian retailer snagged a cool £4.67bn in the first quarter of the year, up more than a third year-on-year, with consumers more likely to be making trips abroad this [...]
As we’re pushed towards supply chains of isolation, we must protect openness April 22, 2022 Globalisation is dead. So declared Chip Bergh, the chief executive officer of Levi’s, the maker of the iconic 501 jeans, at this year’s World Retail Congress. That doesn’t mean globalisation is going away; but it will need to take a very different form from the one we once knew. The principle of comparative advantage is [...]
Sky high inflation: Consumer confidence crashes as Brits worry about big purchases April 22, 2022 Consumer confidence has crashed this month, nearing a historic low in GrowthforKnowledge (GfK)’s index. The data company’s Consumer Confidence Index decreased seven points to -38 in April, as Brits worried about rising inflation. All measures, which look at how Brits feel about their personal situation and general economic situation, as well as major purchases, were [...]
Cost of living crunch looms as retail sales continue to fall April 22, 2022 The UK’s cost of living crisis is increasingly showing signs in consumer spending habits, with retail sales volumes continuing their descent, according to the latest figures. Sale volumes shrank by 1.4 per cent in March 2022, following a fall of 0.5 per cent dip in February. However, sales volumes were 2.2 per cent above their [...]
Exclusive: Sun European’s managing director on private equity deal-making in the City post-pandemic April 21, 2022 Time for City A.M. to catch up with investment veteran and City insider Mark Corbidge, managing director and a member of Sun European’s Investment Committee.
Retail hesitancy: Online sales drop as shoppers feel pinch of rising inflation April 21, 2022 Online shoppers are spending less as the cost of living crunch starts to bite across the world, and consumers have turned to BNPL services to continue purchasing. Global digital sales have dropped three per cent year-on-year, the first recorded drop in nine years of tracking by Salesforce. The firm’s shopping index shows a drop in [...]
UK housing market shows signs of stability with Brits’ reluctant to spend April 21, 2022 The UK’s housing market could be returning to stability, say analysts, before deals pick up as warmer weather blankets the country. Residential transactions for March have plunged more than a third in comparison with the same month last year, according to the government’s latest figures, after a continued, pandemic-era, buying frenzy. Although deals have climbed [...]
Retail demand protected by shoppers using lockdown savings and buy now pay later services April 21, 2022 Consumer retail demand will be protected by shoppers dipping into lockdown savings and using buy now pay later services, despite increased pressure on household budgets. Economists have said consumer demand will not see a significant drop in the coming months despite tightening purse strings across the country. Evidence showed households were turned to credit to [...]