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Retail & Consumer

Support your local venue – brewing industry joins forces to launch beer to help bars and pubs through costs crisis

The North's bars and venues are under huge pressure as the costs crisis goes on – now a group of leaders from the beer industry has joined forces again to launch an ale to give those venues a February boost. It’s been a brutal time for the hospitality industry as costs keep rising, hitting customers and venues alike. Just this week we reported that Liverpool’s Carnival Brewing Company had gone into administration with its assets being put up for ...

Ryanair slashes passenger forecasts due to never-ending Boeing delays

Ryanair has been forced to cut its passenger forecasts due to ongoing delivery delays from troubled US aircraft manufacturer, Boeing. The budget airline no longer anticipates that Boeing will deliver enough planes to meet its 2026 target of 210 million passengers. "Boeing delays have forced us to revise our full-year traffic target to 206 million, just three per cent growth," Ryanair CEO Michael O’Leary announced. He expressed hope that the remai...

WH Smith revenue rises as travel sales soar ahead of high street exit

WH Smith has reported a four per cent increase in revenue for the first half of the financial year, largely due to growth in its travel stores as it plans to withdraw from the high street. The company's total travel revenue saw a six per cent like-for-like rise in the 21 weeks leading up to January 25, while high street revenue fell by three per cent, as reported by City AM. Earlier this week, WH Smith confirmed that they are considering selling ...

Wickes reports revenue growth and share price surge amidst challenging market conditions

Wickes has announced a rise in revenue for the second half of the year, fuelled by smaller retail purchases and reduced losses in its installation segment. The company's shares surged over 10 per cent in early trading. Revenue at the home improvement firm increased by 1.8 per cent in the six months ending December 28, reaching £738.9m, as reported by City AM. This was propelled by growth in its retail segment, with revenue climbing three per cent...

Guinness maker warns on impact of Donald Trump's tariffs as it posts recovery

Beverage behemoth Diageo has issued a warning about the potential impact of Donald Trump’s tariffs on its business, which exceeded analysts’ expectations this year following a significant downturn last year. The company's CEO, Debra Crew, stated that US tariffs, "whilst anticipated", could "impact [our] building momentum," and added that these levies have made it difficult for the company to forecast sales, as reported by City AM. Trump has vowed...

Zuber Issa vows to grow a new 'retail powerhouse' after EG On The Move completes deal for almost 100 sites

Zuber Issa’s petrol forecourts business EG On The Move has completed the acquisition of almost 100 sites from service station operator Applegreens – and vowed to grow into a “retail powerhouse”. Blackburn-based EG On The Move has completed a deal for the Applegreen UK network comprising 98 sites with around 40 foodservice concessions. The acquisition means EG On The Move will have 151 petrol forecourt stations and another 209 foodservice concessi...

Media giant Future plc on track despite UK advertising woes, boosts US digital revenue

Publisher Future plc has reported that it is trading according to market expectations for the first four months of its financial year, despite challenges in the UK advertising sector. The Bath-headquartered media group, known for its various specialist titles in tech, gaming and lifestyle, communicated to the markets this morning that its consumer business has continued the positive momentum from 2024, showing sustained audience engagement and an...

Emma Bridgewater faces job cuts and deepening losses in challenging financial year

Emma Bridgewater, a pottery brand founded by its namesake designer, has cut jobs as it sank further into financial difficulties in its most recent fiscal year. The Stoke-on-Trent-based business, supported by BGF, reported a pre-tax loss of £4.4m for the 12 months ending April 27, 2024, as reported by City AM. This follows a pre-tax loss of £1.3m in the previous 12 months. According to newly filed accounts with Companies House, Emma Bridgewater re...

Caffe Nero owner reports record sales as popular menu items fly off the shelves

Nero Group, the parent company of coffee chain Caffè Nero, has reported a significant surge in sales for the first half of its current financial year. The company achieved record-breaking sales of £310 million for the six months ending November 2024, representing an 8% like-for-like increase and 13.6% overall growth, as reported by City AM. In the UK, Caffè Nero's sales reached £185.4 million, a notable 11.4% rise, while sales in Turkey and Swe...

Tesco, M&S, Kingfisher and more warn of 'perfect storm' in retail as 300,000 jobs at risk

A group of leading retailers has issued a stark warning to the Treasury, stating that hundreds of thousands of jobs in the retail sector are under threat due to unsustainable cost increases this year. This is the latest in a series of warnings from the retail industry about the impending damage to jobs and investment on the British high street, as reported by City AM. The Retail Jobs Alliance (RJA), which includes Tesco, Marks & Spencer and B...

The Range announces new store openings following Homebase acquisition

The owner of The Range is planning to open a string of new stores in former Homebase outlets around the UK. CDS Superstores, parent company of the Plymouth-based retailer, acquired 70 outlets when the DIY chain fell into administration last year. The new-style Range branches will all have Homebase-branded garden centres and a number will have kitchen sections under the DIY brand. The outlets will also allow dogs inside, CDS said, provided they ar...

Aldi to create 1,600 new jobs in UK after 'best ever' Christmas sales

Aldi, the discount supermarket chain, is set to create 1,600 new jobs this year as it expands its UK store footprint, even as its competitors cut jobs. This announcement starkly contrasts with the news of Sainsbury’s cutting 3,000 jobs and minor staff reductions at Tesco and Morrisons, as reported by City AM. All three supermarkets have cited cost-saving measures as the reason for the cuts, but only Sainsbury’s has mentioned the impact of the hig...

Almost Famous closing all sites: 'The current economic climate has proven too challenging for us to overcome'

Pioneering burger restaurant group Almost Famous is closing all its sites - with owner Beau Myers saying the "current economic climate" and "lingering debt" have made it impossible to go on. Launched originally in 2012 in Manchester's Northern Quarter, Almost Famous became an immediate trailblazer for the "dirty burger" phenomenon, with long lines of eager customers. The Withington location was closed last year, and with today's announcement, the...

Ritz Hotel's financial woes deepen with £75m losses since 2019, despite Qatari ownership

London's prestigious Ritz hotel has accumulated losses exceeding £75m since it last reported a profit, recent disclosures have shown. The opulent establishment recorded a pre-tax loss of £10m for 2023, according to accounts submitted over five months late to Companies House, as reported by City AM. This loss follows a deficit of £16.5m in 2022, £32m in 2021, and £27.3m in 2020, with the hotel's last pre-tax profit being £2.4m in 2019. The belated...

UK hospitality sector reels from Labour's budget despite global economic shifts

The high-stakes drama of a global trade war vies for attention alongside Keir Starmer’s EU reset, looming interest rate decisions and Nigel Farage’s lead in the opinion polls. News is fast-paced, and the focus quickly shifts. Politicians are often the first to want to 'draw a line under it' and move forward; whether the 'it' refers to Starmer's potential breach of 2020 lockdown rules or his government's disastrous October budget, as reported by C...

Vertu Motors to reduce workforce and close showrooms on Sundays, citing Budget measures

Car dealership group Vertu Motors has warned it will reduce its workforce and close most of its showrooms on Sundays, saying minimum wage and National Insurance rises will add £10m costs. The Gateshead-based business, which has nearly 200 sites in the UK, has lowered adjusted pre-tax profit expectations for the year the end of February, saying it will now be significantly below £34.5m estimates, which were down from £37.8m the previous year. Alon...

Mulberry launches 'Back to the Mulberry Spirit' strategy to revive brand amid falling sales

British luxury brand Mulberry has announced a recovery strategy in an attempt to reverse its recent downturn. This follows a 17% drop in its share price over the past month and a decline of more than 30% over the past year. The company's revenue for the final quarter of the year decreased by 18.3% year on year, fuelled by a 20% fall in UK retail sales and a 27.9% slump in Asia Pacific retail sales, as reported by City AM. Last year, Mulberry was ...

Jollyes to lower 3,000 prices as it opens new stores in challenge to Pets at Home

Pet superstore chain Jollyes has unveiled plans to slash thousands of prices and launch new stores across the UK. The retailer, a significant competitor to Pets at Home, also announced a series of new benefits for its employees in an effort to attract fresh talent, as reported by City AM. This announcement comes nearly a year after TDR Capital, the private equity backer of Asda, pub group Stonegate and David Lloyd Leisure, acquired a majority sta...

Watches of Switzerland optimistic about US market growth post-Trump tax cuts

Watches of Switzerland has conveyed a positive outlook for the luxury market in Europe, while highlighting sustained progress in the US, indicative of the global luxury sector's slow emergence from a two-year slump. According to the watch retailer, the once-stressed luxury market is now showing signs of stability, despite persistent pressures such as decreasing disposable income and evolving consumer tastes, as reported by City AM. Amidst the cos...

Elon Musk says 2025 will be a 'pivotal year for Tesla' despite profit plunge

Tesla, the electric vehicle (EV) behemoth, has reported a sharp decline in profit for 2024, with net income plummeting over 70% to $2.3bn (£1.83bn). The company's profit stood at $2.3bn (£1.84bn) for the final quarter of the year, as reported by City AM. Despite an uptick in sales, which saw a 2% increase in the fourth quarter to $25.7bn (£20.63bn) from $25.2bn (£20.23bn) in 2023, Elon Musk's group experienced a drop in profit. Annual sales margi...

Shein to slash IPO valuation by $16bn as it faces new trade barriers

Fast fashion behemoth Shein is reportedly considering lowering the target valuation for its anticipated London IPO as it faces new trade barriers in the US and mounting political scrutiny in the UK. The Chinese-founded retailer, which is expected to go public in London later this year, could be impacted by harsh new trade policies from the White House that aim to eliminate a "de minimis" exemption for small packages entering the US, one of Shein'...

'Hotel Chester' plans for former Mecca Bingo site updated and get go-ahead

Revised proposals for converting Chester's old Mecca Bingo Hall into a new 146-bedroom hotel have been approved. The majority of the existing structure will be demolished to accommodate the seven-storey 'Hotel Chester' project, located next to St Oswald’s Way, which is anticipated to bring about 80 permanent jobs once open. The hotel is set to feature serviced office space within its landmark mock-Tudor front at Brookdale Place. Developer TAG, le...

Welsh retail sector boosted with a surge in footfall in January

Welsh retail footfall in January was significantly up on a year earlier in a welcomed boost to the retail sector, although the outlook remains challenging. New figures from the Welsh Retail Consortium shows that footfall last month was up 8.5% on the previous year. This was the highest of any UK nation, with England up 7.4%, Northern Ireland, 3.5% and Scotland 1%. For the UK as a whole the rise was 6.6%. Compared to the regions of England, it was...

Pandora boasts 'outstanding year' as US drives double-digit growth for jeweller

Danish jewellery brand Pandora has celebrated an "outstanding year" despite ongoing global market uncertainties. The company reported a 13% organic growth for the financial year 2024, surpassing its previously upgraded guidance of 11% to 12%. This growth included a 7% like-for-like sales increase and a 5% network expansion, with the opening of 236 new stores in 2024, according to Pandora, as reported by City AM. Both revenue and earnings before i...

John Lewis 'misses Christmas sales targets' as middle-class shoppers flock to M&S

John Lewis has reportedly experienced a shortfall in sales during the crucial Christmas trading period, as middle-class consumers increasingly turn to retailers such as Marks and Spencer. The Daily Telegraph reports that Waitrose also failed to meet its sales targets. The John Lewis Partnership (JLP) attributed this to "lower consumer confidence and weaker than expected market confidence" during the month leading up to 21 December, as well as the...

Crew Clothing to open 20 new stores across the UK in 2025 after strong Christmas sales

Crew Clothing is setting its sights on significant growth, with plans to unveil at least 20 new stores across the UK this year. Following an impressive expansion in 2024 that saw the fashion retailer introduce 15 new locations—including a notable new store in Paddington, bringing Crew back to the heart of London—the brand is looking to extend its footprint further, as reported by City AM. This announcement aligns with the company's festive season...

Dunelm announces CEO's departure, highlights robust half-year financial growth

Dunelm's CEO, Nick Wilkinson, has announced his decision to step down after seven years at the helm, during which he led the company through strategic changes, digitalisation, and the pandemic. Wilkinson will remain with the FTSE-listed firm until a successor is appointed. Dunelm has seen consistent sales growth over recent years, thanks to its personalised, relatively low-cost homewares that have proven popular with consumers, as reported by Cit...

Famous Grouse whisky sale to billionaire's empire on the rocks as watchdog steps in

The whisky industry is abuzz as The Famous Grouse, a renowned brand previously owned by Edrington's 1887 Company, has been sold to William Grant & Sons, one of the UK's wealthiest entities. This transaction, which took place in September last year for an undisclosed amount, is now under the scrutiny of the Competition and Markets Authority (CMA), as reported by City AM. Scottish billionaire Glenn Gordon, who owns William Grant & Sons, has...

Popeyes and Wingstop announce plans to open dozens of new UK restaurants

Fast-expanding chains Wingstop and Popeyes have both unveiled ambitious plans to broaden their reach across the UK, generating thousands of job opportunities. Popeyes has detailed plans to nearly double its UK presence by launching over 45 new restaurants, as reported by City AM. This expansion will bolster its footprint in cities such as Birmingham, Leeds, and Bristol, while also growing further in Manchester, Liverpool, London, and Scotland. Th...

Mulberry 'neglected to connect' with UK shoppers, says boss

Struggling Somerset bag maker Mulberry has “neglected to connect” with British customers in recent years and plans to sell more in the UK, rather than China, to make the company profitable again. Chief executive Andrea Baldo told the PA news agency the company had “lost so much business” in Britain in recent years that there was “a huge space” for the company to grow. Founded in 1971, Chilcompton-based Mulberry is most famous for its luxury leath...

Morrisons reports significant sales boost with More card surge and major debt reduction

Morrisons, the supermarket behemoth, has seen a surge in sales during its most recent financial year, thanks to an increase in market share and growth in its loyalty card scheme. The company, headquartered in Yorkshire, reported a revenue of £15.2bn for the 12 months ending 27 October, 2024, a rise from the previous year's £14.7bn, as reported by City AM. Group like-for-like sales also saw an uptick, moving from 1.8 per cent to 4.1 per cent. Morr...

Human rights group threatens FCA with legal action over Shein's potential London IPO

The Financial Conduct Authority (FCA) has been threatened with legal action by a human rights group if it approves the plans of Shein, a Chinese-founded online retailer, to float on the London Stock Exchange. Shein, which is reportedly planning to float in the City later this year, has faced criticism from campaigners and lawmakers over its supply chain practices, as reported by City AM. The company has previously been accused of using forced lab...

North East set to host trial for Amazon drone deliveries

Tech giant Amazon is stepping up plans to launch its drone delivery service in the UK through a trial in a north East town. The global online retailer is advancing with planning applications to Darlington's local council while simultaneously seeking approval from the Civil Aviation Authority (CAA) for its Prime Air drone-delivery service. Having already taken off at two locations in the US, Prime Air uses a fleet of drones to whisk packages to cu...

Eden Project to axe 80 jobs amid 'considerable economic challenges'

The Eden Project, one of Cornwall's most popular tourist and environmental attractions, is cutting up to 80 jobs. The losses represent around a 20% reduction in its current workforce of 400, equating to one in five roles. It is the second round of job cuts announced by the Bodelva attraction, which has been operating at a loss, in less than two years. In May 2023, Eden Project revealed that 20 positions were at risk, although efforts were made to...

Builders merchant MKM opening four new sites, creating 74 jobs

Builders merchant MKM is opening four new sites in the South West of England and Wales. The independent firm, which sells building materials and supplies to traders and the public, said the new outlets in Plymouth, Bridgend, Bangor, and Cheltenham would create 74 jobs. The branches are opening throughout February and include kitchen and bathroom showrooms, and landscaping displays. The outlets will stock a range of national brands and will also b...

An optician ‘as cool as an Apple store’: Specscart opens concept venue as it plans 2025 growth

Greater Manchester opticians chain Specscart has opened a new store it says is “as cool as an Apple store” as it plans expansion in 2025 including a push into the USA. Specscart was founded by Sid Sethi after he was frustrated at the cost and slow pace of other opticians’ services when he broke his own glasses. The company now has three stores across Greater Manchester and Mr Sethi says sale last year grew to more than £3m. Now the company has op...

Major new plans could bring big changes to popular New Mersey Shopping Park

Significant changes could be on the horizon for a well-known Liverpool retail park. The New Mersey Shopping Park, a mainstay in Speke since its establishment in 2018 as part of a multi-million pound development, houses major retailers, eateries and leisure facilities such as Cineworld, Nando's and JD Sports. A request has been lodged with Liverpool City Council to modify previously approved planning permission concerning some of the park's buildi...

Dragons' Den success for Devon coffee company after pitching on hit BBC show

A Devon entrepreneur who appeared on hit BBC show Dragons’ Den has secured investment for his coffee company after a successful pitch. Will Little, who owns family-run Little’s Coffee, was looking for £80,000 for 2% of his Cullompton-based business and received four offers from the dragons. The second-generation business owner finally agreed a deal with investor Steven Bartlett for 5% of his company - for the full amount of money. Mr Little almos...

Liverpool brewery and bar Carnival Brewing Company up for sale after administration

A Liverpool bar and brewery has gone into administration- and its assets will now be sold at auction. Carnival Brewing Company on King Edward Industrial Estate near Liverpool city centre, appointed administrators Paul Stanley and Jason Dean Greenhalgh from Begbies Traynor on January 29. Established in 2017, the company was known for crafting a diverse selection of beers sold across Merseyside pubs and bars. It had a staff of three, and was known ...

Rachel Reeves' Budget has scared off UK retail traders, survey finds

A new survey indicates that retail traders are shying away from the UK market following Chancellor Rachel Reeves' recent Budget. The study by Graniteshares revealed that over a quarter of retail investors (26%) have reduced their stake in the UK after the Budget announcement, as reported by City AM. Moreover, out of the 1,000 British retail investors surveyed last month, one in five stated they are likely to decrease their investment in UK market...

Kitchen giant Magnet plans premium push to claw back from £160m loss

Nobia Holdings UK, the group behind kitchen manufacturer Magnet, is banking on its expansion into the premium market to help it return to profitability after suffering another significant loss and cutting hundreds of jobs. The company has been restructuring in recent years, having not posted a pre-tax profit since 2019, as reported by City AM. However, this transformation plan has resulted in hundreds of job losses. Recently filed accounts for Ma...

Gucci design chief Sabato de Sarno leaves as Kering targets turnaround

Kering has announced the departure of Gucci's creative director Sabato de Sarno, who joined the fashion house in 2023 to succeed Alessandro Michele. Despite his efforts to revitalise the brand with a more pared-back approach, de Sarno's designs did not resonate with consumers, particularly during a period of broader luxury market challenges, as reported by City AM. This has led to a significant drop in Gucci's financial performance, with pre-tax ...

Jack Wills slashes jobs and closes stores as fashion brand's profits tumble

Fashion brand Jack Wills, part of Mike Ashley’s Frasers Group, has seen a continued fall in profit as job cuts were made and stores closed during its latest financial year. The company's workforce was reduced from 233 to 135 in the 12 months leading up to 28 April, 2024, while the number of operational stores dropped from 32 to 24, as reported by City AM. Consequently, Jack Wills' pre-tax profit fell from £10.1m to £4.9m over the same period. Rec...

Plymouth restaurant shuts its doors leaving owner broke

A business owner is heartbroken after his Plymouth-based bagel and pizza restaurant succumbed to financial pressures. Brandon Hargrave now lives in a van after Koala Karlous was forced to shut down due to escalating costs. The entrepreneur launched his business from a van at Cornwall's Fistral Beach in 2019, later expanding to Plymouth, Falmouth and Cornwall Services near St Austell. He also had a pop-up in London's affluent South Kensington. How...

London's Black Sheep Coffee to open in Bristol

A London-headquartered coffee shop chain is opening a new site in Clifton in Bristol. Black Sheep Coffee, which has branches across the UK, has agreed to take commercial space at 60 Queens Road on a 15-year lease. The 2,724 sq ft unit is split across the ground floor and basement, and was previously occupied by Vodafone. Urban Creation, the building's landlord, completed a major renovation of the upper floors of 60 Queens Road in 2022, transformi...

UK retail footfall sees first January increase since 2016 as shoppers delay Christmas spending

For the first time since 2016, retail footfall in January saw a year-on-year increase, likely due to UK consumers delaying their festive spending to take advantage of discounted goods in the new year sales. According to data from MRI Software, footfall across all UK retail destinations rose by 1.4 per cent in January 2025 compared to the same period in 2024, as reported by City AM. Shopping centres led the way with a 1.8 per cent increase in foot...

Vodafone Business offers great customer perks and is crowned best network

You can enjoy a host of amazing extras for free if you sign up for a business account with Vodafone. At the Mobile News Awards last year, Vodafone Business was crowned the 'Best Network for Business', marking the second consecutive year that the company has taken home the accolade. And for good reason. The company's business SIM only plans give customers a range of great benefits including 5G at no extra cost and more than 50 roam-free destinatio...

Fevertree shares soar after 'transformational' deal with Molson Coors

Fevertree's stock has surged by over 20% following the announcement of a partnership with Molson Coors, the owner of popular beer brands Coors and Carling. The deal stipulates that Molson Coors will exclusively manage sales, distribution, and production of the Fevertree brand in the US market, as reported by City AM. Analysts have unanimously praised the agreement, anticipating mutual benefits as both companies diversify into new markets. As part...

Billionaire's hotel empire to open 40 new hotels in the UK and support 1,000 jobs

OYO, the hospitality chain established by Indian tycoon Ritesh Agarwal, has disclosed its strategy to inject £50 million into the UK market over the forthcoming three years, a move that is set to bolster 1,000 jobs. The announcement follows the group's ambitious plan to launch 40 new hotels across the UK by the close of 2024, as reported by City AM. OYO emphasised that its investment will concentrate on 'premium' hotels to draw more international...

New food and drink shop to open at retail park – though council warns of traffic concerns

Plans for a new store at Blackpool Retail Park have been approved by planners. The scheme involves the construction of a new unit on land previously utilised as part of a garden centre by a former Homebase store, located just off Squires Gate Lane. While the potential tenant remains undisclosed, it is expected to be an operator selling bulky goods, food and drinks from the 929 square metre space. Since Homebase vacated several years ago, the unit...

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