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 [...]
DIY sales support Wickes as big-ticket items still off the table March 20, 2025 Wickes has reported another drop in big-ticket home improvement sales as Brits continue to shy away from large purchases. The company also announced a new share buyback programme of £20m, which will start in April 2025. The retailer reported a one per cent drop in revenue in the year ended December 28, from £1.5bn last [...]
‘I lament the pairing of trainers with suits’: Cheaney shoes’ Jonathan Church on swapping banking for brogues March 20, 2025 Church's shoes Jonathan Church is a veteran of the British footwear business. He tells us why he swapped banking for brogues.
In The Style: Fast-fashion brand saved after administration collapse March 19, 2025 In The Style has been sold after collapsing into administration in a move which put hundreds of jobs at risk of being lost. FTS Recovery had been appointed to oversee the administration process at the Manchester-based company before a deal with Alps Sourcing Limited was agreed. It has now been confirmed that 87 jobs in [...]
Shepherd Neame: Pub prices to rise as Budget costs hit March 19, 2025 UK hospitality chain Shepherd Neame, Britain’s oldest brewer, has said it will increase prices at its pubs to deal with cost pressures from the government’s tax raid on businesses. The national living wage and employers’ national insurance contributions (NICs) will both increase from April, as announced in last October’s budget. The increase in labour costs [...]
H&T: Pawnbroker boosted by gold price and demand for quick cash March 18, 2025 H&T has reported a double-digit rise in profit driven by demand for its core pawnbroker service as Brits continue to look for quick cash amid a high cost of living. The business told markets this morning that profit before tax reached £29.1m in the year ended December 31, 2024, up 10 per cent year on [...]
Asos shares plunge as investors lose confidence March 17, 2025 Asos shares have slumped more than eight per cent in early deals this morning, extending losses recorded over the past few months as investors have lost confidence in the retailer’s turnaround plan. The e-commerce firm’s share price has dropped by a third in the last month and has fallen by half since the start of [...]
Asda: ‘We know what we need to do’ after sales disappoint again March 14, 2025 Sales and revenue at Asda dropped last year, as expected, but the supermarket said it has begun to deliver on its turnaround plan. Like-for-like sales at the supermarket giant fell by 3.4 per cent year on year, while revenue dipped 0.8 per cent to £21.7bn. The TDR-owned supermarket struggled last year with a declining market share [...]
Are you an SME looking to export? Here’s what you need to know March 14, 2025 As Paul Lindley is appointed advisor to the newly announced Board of Trade, he explains why there’s never been a better tome for SMEs to start exporting The UK’s trading landscape has been transformed in recent years, with Brexit reshaping relationships with the EU, new trade agreements emerging and a notable rise in global economic [...]