Consumer squeeze ‘worse than I have ever known’ says ex CBI boss and Cobra Beer chair October 6, 2022 Consumers are being squeezed by “worse than I have ever known,” the former chief of the Confederation of British Industry (CBI) and the founder of Cobra Beer has said. Speaking on BBC Radio 5 Live’s Wake Up to Money programme, Lord Karan Bilimora was asked about the impact of industrial action this month – with [...]
Victorian Plumbing bucks trend as bathroom retail sales surge October 6, 2022 Victorian Plumbing has defeated the trend amid a subdued bathroom market and lauded rising sales this year. In full year results, the AIM-listed firm said it was trading ahead of consensus market expectations, both revenue and earnings wise. Its second-half revenue was up around per cent on last year, with sales performing especially well in [...]
High street spending slumps amid retail’s Covid recovery October 6, 2022 The high street’s Covid recovery has been slowed by the economic slump, with shoppers cutting back on shopping sprees last month. According to freshly published statistics from Springboard, the recovery of retail footfall slowed for the third month in a row. Footfall increased just 6.8 per cent, compared to a 15.6 per cent boost in [...]
Nightclubs hit back at killjoy neighbours as sector stares down ‘fight for survival’ October 6, 2022 The nightclub industry is facing a battle for survival after residents have become accustomed to quieter nights after lockdown, according to bosses. Late night venues in the UK have been attacked by an exponential increase in noise complaints, especially in London hubs, the Night Time Industries Association (NTIA) has claimed. Nightclubs were closed from March [...]
Tesco: Shoppers ‘watching every penny to make ends meet’ October 5, 2022 Tesco has warned of “tough times” as Brits are “watching every penny to make ends meet” this winter. The grocery giant reported a slimmer profit for the first half, after customer behaviour has normalised after lockdown and the supermarket has invested in keeping its prices competitive for shoppers. The country’s largest supermarket posted a £413m [...]
Topps Tiles tops full year expectations as the DIY boom continues October 5, 2022 Sales continued to climb for Topps Tiles as the DIY boom shows no signs of stopping beyond the pandemic. Group sales in the 52-week period were approximately £247.3m, a second consecutive record year of turnover, with year on year sales growth of 10.6 per cent. Topps Tiles said it continued to perform well against a [...]
Deliveroo partners with Channel 4 for Gogglebox-style ad series October 4, 2022 Deliveroo has teamed up with Channel 4 to create a Gogglebox-style series on how their food delivery had ‘saved the day’. Working with ad agency The Outfit, the food delivery giant will create 10 contextual ads filmed in an observational documentary style, which will be shown around Channel 4 hits like Made in Chelsea and Grand [...]
Poshmark purchased by Naver in £1.05bn shopping spree October 4, 2022 Fashion resale platform Poshmark has been snapped up by South Korean e-commerce firm Naver Corp, leaving some investors sceptical about the timing of the takeover. Naver’s share price took a hit after the announcement of the $1.2bn acquisition, with shares tumbling almost nine per cent overnight on Monday. The internet search engine giant said it [...]
Made.com begins talks with suitors over sale as cash injection of £70m needed October 4, 2022 Made has said it has started talking to a number of potential suitors about a sale of the furniture retailer. After previously declaring the beleaguered online retailer would be looking to sell itself to shore up funding to clinch its survival, Made.com said it had now entered into non-disclosure agreements with various parties. The potential [...]
Greggs: Sausage roll sales rise as consumers look for cheaper eats October 4, 2022 Greggs has reported surging sales this autumn while making no changes to its cost inflation outlook for the year. The sausage roll specialist said on Tuesday that total sales were up 14.6 per cent for the 13 weeks to 1 October 2022, compared to the same period in 2021. Price increases of around five pence [...]