UK inflation falls to near three-year low as energy prices are capped November 13, 2019 UK inflation fell to its slowest rate in almost three years in October, official figures showed today, as growth was held back by the energy price cap. Read more: UK suffers biggest fall in jobs in four years The consumer price index (CPI) – a gauge of how much prices have risen over the year [...]
British Land widens losses in challenging retail market November 13, 2019 British Land reported widening losses in the first half of the year, driven by a fall in value in its retail portfolio amid a string of store closures and rent reductions. The figures Underlying profit fell 10.1 per cent to £169m and the company’s loss after tax increased from £48m to £404m. Read more: British [...]
Unilever chairman to step down with immediate effect November 13, 2019 Unilever’s chairman has stepped down from the role with immediate effect in a surprise departure from the dual-listed Dutch consumer goods giant. Non-executive director Nils Andersen will replace Marijn Dekkers, who has served in the role at the Marmite and Dove soap maker since April 2016. Read more: Heinz and Unilever adverts found on Pornhub [...]
£2.9bn of investment planned for Oxford Street by 2022 November 13, 2019 Oxford Street and the surrounding area is set to receive a total of £2.9bn in investment over the next two years, according to a new report. Westminster City Council has committed to investing £150m up to 2023 to transform the area, including a proposed public piazza at Oxford Circus, a public square at Marble Arch [...]
B&M shares dive as German unit put under review November 12, 2019 Shares in B&M fell more than seven per cent this morning as the bargain retailer launched a strategic review of its German business Jawoll to determine the future of the poorly performing unit. The figures The company’s overall pre-tax profit plunged 70 per cent to £32.2m in the first half, after its balance sheet was [...]
New Look losses shrink despite dip in sales November 12, 2019 New Look narrowed its losses in the first half of the year, despite a decline in sales caused by the ongoing challenges facing the UK high street. The figures The retailer reported that its statutory loss before tax was £11.2m, compared to a loss of £41.9m in the first half of last year. Revenue fell [...]
Mr Kipling owner Premier Foods increases profit November 12, 2019 Shares in Mr Kipling owner Premier Foods soared this morning after the company reported an increase in profit and revenue in the first half of the year. Premier Foods’ stock was up 8.28 per cent to 36.11p as it announced the relaunch of Mr Kipling cakes and sales of Nissin noodles had helped it post [...]
Lidl sales soar as big four supermarkets struggle November 12, 2019 Budget supermarket Lidl enjoyed soaring sales this autumn, as the big four grocers struggled to keep up with the German discount stores in the lead up to the crucial Christmas trading period. Lidl was the fastest growing bricks and mortar supermarket in the 12 weeks to 3 November with a sales increase of 8.8 per [...]
Retail group urges new government to reform industry November 12, 2019 A leading retail organisation has ramped up pressure on the next government to reform business rates and the apprenticeship levy to rescue the embattled UK high street. The British Retail Consortium (BRC) said the new government following the 12 December General Election should scrap “downwards transition”, which it said means retailers pay £1.3bn over five [...]
Mobile shopping platform Rezolve bags tie-up with Korean retail giant Lotte November 11, 2019 Mobile shopping tech firm Rezolve has signed a multi-million-pound deal with South Korean conglomerate Lotte Corporation as it expands its presence in Asia. Lotte will use the London startup’s technology in its supermarket app, allowing customers to make purchases by scanning promotional print leaflets with their smartphone. Read more: Mobile shopping platform Rezolve secures bumper [...]