MusicMagpie turns corner from postal strike misery with earnings boost June 19, 2023 MusicMagpie reported its earnings rebounded after a post-February rally helped the tech retailer shake off the impact of postal strikes and low consumer confidence. Underlying earnings shot up 42 per cent to £2m in the second quarter, with the Stockport headquartered firm seeing pre-tax earnings rise 7.7 per cent over the entire period, dented by [...]
BAT shakes up top team as it ploughs ahead with growth through cigarette alternatives June 19, 2023 Lucky Strike maker British American Tobacco (BAT) has shaken up top level management with a string o senior appointments – including a new chief operating officer. The rejuvenation of its top team follows the departure of the group’s ex chief executive Jack Bowels who was replaced by Tadu Marroco. Marroco, the firm’s former finance director [...]
Online retail firms in trouble as punters turn back to the high street June 19, 2023 E-commerce retailers which were bolstered by Brits stuck at home during the pandemic are now going bust, a new report shows, as the cost of living crisis continues to eat away at businesses. The number of insolvencies of UK e-commerce businesses rose 71 per cent to 529 in the past year, up from 309 in [...]
Pubs closing at fastest pace in a decade as high interest rates and energy bills crush Britain’s boozers June 19, 2023 Pubs are closing at the quickest pace in a decade and experts have warned a further wave of failures are on the way, new research out today shows. Some 620 of Britain’s watering holes disappeared over the year to the end of March, a 68 per cent increase from the 369 failures in the same [...]
McDonald’s UK expansion plans hamstrung by beefy bureaucracy, says boss June 18, 2023 McDonald's' UK boss has warned that it can take up to three years to achieve planning permission for a restaurant - slowing down expansion plans
John Lewis property chief resigns in latest top rank exit June 18, 2023 John Lewis property boss Chris Harris has resigned after a five-year stint, placing further pressure on the struggling retailer’s chair Dame Sharon White. Harris, who held the role of property director, handed in his resignation last week, according to reports in the Sunday Times, but will remain at the firm until November. He had played [...]
Scrapping ban on two-for-one junk food deals would be ‘unforgivable’ despite cost of living crisis June 17, 2023 Scrapping a planned anti-obesity policy banning two-for-one junk food deals would be “unforgivable”, health campaigners have warned, after the Government delayed the measure beyond the next election. TV doctor Chris van Tulleken branded suggestions the “light-touch” regulation would restrict consumer choice “ludicrous” following No 10’s announcement it had been shelved amid concerns about the cost-of-living [...]
Travis Perkins’ share price tumbles with building supplier downgrading profits June 16, 2023 Travis Perkins has warned investors to expect lower profits, with the UK's biggest supplier of building materials downgrading its forecasts.
Currys considers offloading Greek retail arm Kotsovolos with strategic review June 16, 2023 Currys could offer up its Greek electronics arm Kotsovolos to potential buyers, announcing a strategic review of the businesses.
Tesco: ‘Encouraging signs inflation is starting to ease’ as quarterly revenue tops £14.8bn June 16, 2023 Britain’s biggest supermarket Tesco has reported a nine per cent increase in UK sales, with its new chief executive saying there are “encouraging early signs that inflation is starting to ease”. Tesco said it reported £13bn in sales across the UK and Republic of Ireland, up almost nine per cent on the previous quarter. In [...]