Will rising costs kill off Savile Row’s renaissance? March 25, 2025 On a Wednesday morning earlier this month, there was plenty of activity on the shop floor at the Georgian townhouse that plays home to Richard James’ bespoke suit-making. One staff member is on the phone discussing colours and time frames, another getting a glass of water for a customer in the changing room, and smartly [...]
Co-op invests further in lower prices as ‘trolley wars’ beckon March 25, 2025 Co-op Group has invested millions in lower prices as all the grocers gear up to battle for value-seeking customers. The business, which is owned by its 5.5 million members, will invest more than £70m into matching prices with Aldi on 100 everyday essentials for its members. The move will take the co-operative’s investment into lowering [...]
Colliers label business rates bill ‘poorly thought out’ and ‘growth strangling’ March 24, 2025 Commercial real estate agents Colliers has said the Government’s business rates bill will strangle growth rather than succeeding in saving the high street. The Non-Domestic Rates Bill is currently on its third reading in the House of Lords before being sent back to the Commons. “The Government is rushing through Parliament new business rates legislation [...]
Morrisons to cut hundreds of jobs and close cafes in huge shake-up March 24, 2025 Supermarket giant Morrisons has put 365 jobs at risk after it revealed plans to close more than 50 of its cafes. The Yorkshire-headquartered chain said 52 of its cafes, 17 convenience stores and dozens of meat and fish counters at its shops are slated for closure. Morrisons said the closures are part of a “wide-ranging” [...]
JD Sports: Nike woes could spell trouble for retailer says broker March 24, 2025 London broker Peel Hunt has downgraded its forecast for JD Sports ahead of the company’s full-year results next month due to short-term industry issues. Peel Hunt cut its projected profit before tax and earnings per share for JD Sports by three per cent for the financial year 2026. The broker attributed the downgrade to an [...]
In The Style: Huge debts revealed after rescue deal saves jobs March 24, 2025 In The Style owed more than £20m when it was rescued after collapsing into administration, it has been revealed. The Manchester-based fast-fashion brand rescued by Alps Sourcing Limited last week in a deal which secured 87 jobs. The debts have been revealed in a new document filed with Companies House by administrator FTS Recovery. What’s the [...]
What NOT to expect in the Spring Statement March 24, 2025 The Spring Statement shouldn’t be a big thing, but it’s increasingly feeling like it could be. Here's what Reeves should do, but won't.
Asos shares spike on positive trading update March 21, 2025 Asos shares rose by over a fifth this morning after the company posted a better than expected market update. The e-commerce retailer told markets that it expects a “significant improvement in profitability” this year, adding that its own brand full-price sales have returned to growth. Investors reacted positively to the news. Asos’ share price had [...]
Norwegian oil fund buys a quarter of Covent Garden from Shaftesbury March 20, 2025 Shaftesbury Capital has sold a quarter of Covent Garden to Norwegian oil fund Norges for £570m in the latest bet by Noway’s sovereign wealth fund on the capital. Under the terms of the contract, Norges Bank Investment Management (NBIM) will buy a 25 per cent non-controlling stake in the £2.7bn Covent Garden estate, which Shaftesbury [...]
Footasylum: Profit almost triples as sales surge March 20, 2025 Profit at Footasylum surged by almost 200 per cent as its sales jumped to nearly £350m during its latest financial year, it has been confirmed. The Rochdale-headquartered retailer, which is backed by Germany-headquartered investment firm Aurelius Group, has reported a pre-tax profit of £17.2m for its year to 25 January, 2025. The figure comes after Footasylum [...]