Louis Vuitton: Sales and profit slashed amid luxury spending slowdown June 20, 2025 A continued slowdown in luxury retail spending saw sales at the UK arm of Louis Vuitton slashed by almost £90m and profit tumble during 2024, it has been revealed. The fashion powerhouse has reported sales of £488.2m for its latest financial year, down from the £575.2m it achieved in 2023. New accounts filed with Companies [...]
Alarm bells as retail sales suffer largest fall in 18 months June 20, 2025 UK high streets suffered from post-Easter fatigue among shoppers as official data showed retail sales dropped by 2.7 per cent in May. The Office for National Statistics said a fall in sales in May represented the largest month-on-month drop since December 2023. A Bloomberg poll of economists expected retail sales to drop by 0.5 per [...]
Challenger banks scout exit routes as giants circle Metro and TSB June 19, 2025 Analysts are pencilling in a fresh wave of banking deals with challenger banks set for a market departure. Moody’s analysts have said challenger banks will “seek exit after weak performance” as industry juggernauts set their sights on ramping up their market share. Takeover talk has gripped the City after reports Shawbrook’s private equity owners were [...]
B&M swaps one tax haven for another June 19, 2025 B&M has revealed plans to swap Luxembourg, the European tax haven the discount retailer has been domiciled in for over a decade, with Jersey. The London-listed company, which has its operational headquarters in Liverpool, said the move would simplify its corporate and administrative structure and provide “greater flexibility for returning capital to shareholders going forward”. [...]
NCC Group pivots on cyber security amid rising demand June 19, 2025 FTSE 250 tech firm NCC Group said it was changing the strategic direction of its cyber security division after revenue took a hit in the first half of the financial year. NCC’s revenue from cyber security tumbled nearly eight per cent to £123.5m for the first half of the year, down from £133.9m for the [...]
Matalan: Huge losses continue as almost 200 jobs lost June 19, 2025 Huge losses have continued at Matalan as its sales dipped below £1bn and it shed almost 200 jobs. The Liverpool-headquartered retailer has reported a pre-tax loss of £67.2m for the 12 months to 22 February, 2025. The total comes after Matalan also posted a pre-tax loss of £60m in its prior year. New accounts also [...]
Natwest rules out TSB takeover June 19, 2025 Natwest has ruled out a takeover of UK high street bank TSB. The FTSE 100 juggernaut was viewed as the “most likely acquirer” by analysts, with the firm hotly anticipated to begin a deal spree after it re-entered private ownership last month. TSB’s Spanish owners, Banco Sabadell, confirmed earlier this week that it had received [...]
Mark Kleinman: Poundland buyer bargains on a revival June 19, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column Poundland buyer bargains on a revival Anyone for a bargain? Buying a chain of pound shops for a price lower than that of the goods it sells must feel like a pretty appealing deal for Gordon [...]
AO World: Record earnings after Music Magpie acquisition June 18, 2025 AO World has reported better-than-expected revenue growth after its acquisition of Music Magpie and an expansion in its membership scheme helped boost the figures. The electrical retailers told markets this morning that life-for-like adjusted profit before tax grew 32 per cent to £45m in the year ended March 31, above the top end of its [...]
Natwest top pick to acquire TSB June 17, 2025 British banking juggernaut Natwest Group has been pegged as the “most likely acquirer” of TSB Bank. Natwest returned to private ownership last month, ending a nearly two-decade-long banking saga and setting the lender up for a deals spree. The bank has purchased over £5bn worth of shares from the Treasury as part of its directed buyback [...]