Next warns impact of tax hikes could hit sales May 8, 2025 High street bellwether Next has upgraded its full-year profit guidance after better-than-expected sales, but warned consumer confidence will slow sales in the second half of the year. Next told markets this morning that total full price sales rose 11.4 per cent year on year in the 13 weeks to April 26. The sales boost, which [...]
Why M&S, Harrods and the Co-op were hit by cyber attacks May 8, 2025 Cyber security experts have warned that retail’s lack of investment in IT protection, as well as the amount of consumer data it has access to, has put a bullseye on the sector. The warnings follow a trio of serious attacks at major UK households names – Harrods, Marks and Spencer (M&S) and the Co-op. “Retailers [...]
Mark Kleinman: This is not just any retail cyber attack… May 8, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column This is not just any retail cyber attack… It’s hardly an exclusive club these days: a big listed company is the victim of a major cyber attack, compromising its systems and ability to continue serving customers. [...]
Gymshark: How going public could help take on ‘monster rivals’ Nike and Adidas May 7, 2025 Gymshark, the activewear brand co-founded by billionaire Ben Francis, could be pushed towards becoming a public company in its bid to “achieve the kind of global domination enjoyed by monster rivals Nike and Adidas”. According to Danni Hewson, head of financial analysis at AJ Bell, the Solihull-headquartered business would need to “amp up its presence” [...]
H&M Group takes minority stake in e-commerce firm Centra May 7, 2025 H&M has taken a minority stake in e-commerce firm Centra as it looks to deepen its relationship with the company. The stake, which is less than 10 per cent, values Centra at just over half a billion Swedish kronor, according to Di Digital. H&M will invest SEK 50m (£3.9m) in the company, which supports retail [...]
Trainline to take on Labour as shares plunge May 7, 2025 Trainline shares fell nearly eight per cent in early deals on Wednesday despite ticket sales reaching almost £6bn across its platform. The London-listed ticketing app’s stock price has fallen by more than a third this year due to concerns over government plans to launch a rival state-owned service. Trainline said it was taking an “increasingly [...]
JYSK: Losses continue as stores close and jobs shed May 7, 2025 Losses continued at the UK arm of Danish homewares retailer JYSK as it closed stores and shed jobs during its latest financial year. The business, which forms part of the global group, has reported a pre-tax loss of £3.2m for the 12 months to 31 August, 2024. The total comes after JYSK also posted a [...]
Next set to reveal profit increases amidst tariff uncertainty May 3, 2025 Next is expected to post rising profits next week despite a string of costs increases hitting retailers and broader concerns about UK consumer confidence. The retail giant will reveal its first quarter results on May 8, hot on the heels of profits of more than £1bn last year. Next, which has more than 450 stores [...]
Harrods hit in cyber spree as experts warn of ‘coordinated campaign’ May 2, 2025 Harrods has become the latest high profile UK retailer targeted by cyber attackers, joining Marks & Spencer and Co-op Group in a spate of recent incidents that security experts fear may be part of a broader attack against the sector. Harrods has confirmed that it had experienced “attempted to gain unauthorised access” to its systems. [...]
Investors keep faith in M&S success story May 1, 2025 There’s no doubt that M&S is in the grip of a crisis, but investors appear to have faith that the current cyber nightmare won’t undermine the dream run enjoyed by this retailer in recent years. The business still stands out as a triumphant turnaround success story, with a share price that’s been on an upward [...]