Wilko may look like Woolies 2.0, but a new buyer should save it from collapse August 11, 2023 Wilco’s collapse into administration put tens of thousands of jobs at risk, but the high street staple should have a future if a buyer sees beyond the hysteria, writes George MacDonald.
Deliveroo raises guidance for year despite orders slipping August 10, 2023 Deliveroo upped its guidance for the year to a range of £60-80m, ahead of previous range of £20-50m, as the group shows signs of weathering the economic storm. Total revenues rose five per cent to £1.02bn up from £972.9bn as the group increased the cost of payment fees it charges customers. The food delivery business, [...]
Rents likely to continue rising sharply despite cost of living crisis August 10, 2023 Rents are likely to continue rising sharply despite the cost of living crisis, surveyors are warning. Property professionals’ expectations that rents will rise in the next few months are at the strongest levels seen so far this century, the findings from the Royal Institution of Chartered Surveyors (RICS) indicate. A net balance of 63 per [...]
The one winner from the UK’s miserable summer?… Wind turbines August 8, 2023 Brits have been disappointed by persistent gloomy weather this summer. But there has been one winner from the overcast skies – wind turbines.
Shapps warns fuel retailers he will ‘call out any foot-dragging’ on price transparency August 8, 2023 Energy Secretary Grant Shapps has warned fuel retailers he will “call out any foot-dragging” over the sharing of pump price data. He made the comment as drivers were hit by the largest weekly rise in petrol prices for more than a year. The Competition and Markets Authority (CMA) is planning to launch an interim voluntary [...]
Beyond Meat: Pricey vegan alternative’s revenue falls 30 per cent as forecast slashed August 8, 2023 Beyond Meat slashed its annual forecast for the year as its revenues plummeted 30 per cent in the second quarter due to customers becoming more reluctant to buy into pricey fake meat alternatives amid the cost of living crisis. The US company, which supplies its vegan plant based burger patties to the likes of McDonald’s, [...]
H&T: Pawnbroker to expand high street and online presence as profits soar 31 per cent August 8, 2023 H&T, Britain’s largest pawnbroker reported a 31 per cent rise in profit before tax to £8.8m – with the pawnbroker looking to cash in on desperate times by expanding its presence. Its pledge book, which includes short-term loans linked to customers’ belongings, grew 14 per cent in the six months ending 30 June, reaching £114.6m [...]
People aren’t lying to claim welfare, we really do have a systemic crisis of ill health August 8, 2023 We love to point blame at people on welfare, rather than looking at why so many people are sick rather than at work, writes Ben Ramanauskas.
Retail investors poised to spend near £100m on Oxford Street this year August 7, 2023 Retail investment in central London is expected to exceed £1bn this year, with up to a tenth of that set to be spent on Oxford Street, raising fresh hope for the future of the London shopping destination. Some £810m was splurged on retail investments across London in the first half of the year, new figures [...]
Pizza Express and Wagamama show signs of recovery after private equity and pandemic struggles August 7, 2023 Wagamama, Dominos and Pizza Express are among a cluster of top restaurants in the UK which have seen their profits increase in the last six months, new research shows, as the market slowly shows signs of recovery. The combined profit of the top 100 restaurants in the UK rose from £19.9m in September 2022 to [...]