New CEO for Greggs as sales slow at its 2,181 stores with inflation and supply chain issues hitting the sector hard January 6, 2022 Greggs has revealed sales continue to rise at its 2,181 stores although bosses said more recent Covid restrictions led to sales growth easing in December. The company also said rising inflation and supply chain issues facing the sector continue to hit but added it enjoyed strong sales of Christmas products, including 6.7m mince pies. Separately, [...]
Sales growth at furniture firm Made hit by Covid-related factory closures in Vietnam January 6, 2022 Furniture retailer Made has said its sales growth was hit after its Vietnamese factories were forced to close during Covid restrictions earlier this year. The online retailer said disruptions resulted in 20 per cent of its most popular furniture ranges being unavailable during its peak autumn trading period. Its key factories have now all opened [...]
Next lifts profit forecast to £822m as shareholders await New Year payday January 6, 2022 Next has told shareholders to expect a special dividend at the end of the month, after lifting its profit guidance for the full year. The high street retailer has raised in profit before tax guidance by £22m, to £822m – up nearly 10 per cent in comparison with pre-pandemic levels. Meanwhile, investors eye a £205m [...]
Wandsworth sees the highest number of £1m property transactions as buyers desire space January 5, 2022 The leafy borough of Wandsworth has been named as the capital’s hotspot for property transactions of £1m over the last year. The south-west London borough accounted for 11 per cent of high end transactions over the last year, out of a total 6,312 transactions for between £1m and £3m across London. Kensington and Chelsea and [...]
Shoppers opted for premium products this Christmas as grocery inflation hit 3.5 per cent January 5, 2022 Grocery sales hit £11.7bn over the Christmas period, as shoppers were keen to make the most of the festive period after Covid restrictions hampered celebrations last year. Shoppers spent record amounts on supermarkets’ premium own brand products, with £627m spent on pricier items over the four weeks to 26 December. This was an increase of [...]
Savile Row tailor placed into liquidation as quest for buyer fails January 4, 2022 The parent company behind London’s iconic men’s tailor Gieves & Hawkes has been put into liquidation after failed attempts to woo potential buyers. FTI Consulting and R&H Services have been appointed as joint liquidators for the 250-year-old brand, alongside its sister brands Kent & Curwen and Cerutti, according to The Times newspaper. The newspaper reported [...]
Post-Christmas slump: UK shopper numbers fall 15 per cent in a week January 3, 2022 UK shoppers shirked the high street in the week following Christmas as concerns about the the rapid spread of omicron continued to bite.
Staff shortages could force business closures in the New Year January 3, 2022 Businesses in the retail and hospitality sectors are being hit hard by staff absences as Omicron surges according to industry chiefs.
SME crisis: Late payment of invoices and spiralling costs threaten survival of more than 400,000 small businesses January 3, 2022 Paying invoices too late is threating the survival of hundreds of thousands of small firms, a businesses group warned this morning. The Federation of Small Businesses (FSB) fears that late payments, high inflation and mounting administration for firms that trade internationally could see numbers shrink if something is not done about these issues. Of the [...]
London markets join global Santa rally December 29, 2021 London markets joined the global stock rally today after they missed out due to being shut at the start of the week for public holidays in the UK. The capital’s premier FTSE 100 index closed 0.63 per cent higher at 7,418.76 points, while the mid-cap FTSE 250, which is more aligned to the health of [...]