Aldi throws £1.4bn into expansion as discount grocer enjoys record sales September 25, 2023 German discounter Aldi will invest £1.4bn over two years to support its expansion plans, as customers seeking out cheaper groceries continues to be a boon for the business. The value supermarket revealed today that its annual sales increased by a whopping £2bn to £15.5bn in the year to December, a record for the store in [...]
Activist investor Kelso takes stake in ‘undervalued’ retailer The Works September 25, 2023 Activist investor Kelso has snapped up a stake in arts and crafts retailer The Works today and said it will look to “restore the intrinsic valuation of the firm” after a slump in its share price over the past five years.
Asos: All eyes on pandemic poster child’s turnaround results September 24, 2023 Investors will turn their focus to online retailer Asos’s trading update on Tuesday to see if the digital fashion store has shown signs of a rebound, following its ongoing turnaround plan and bid to pick up the pieces after a post-pandemic lull. Asos was once the poster child of pandemic success, at its height buying [...]
‘Winners and losers’ as digital commerce feels the post-pandemic pinch: Ingenuity boss September 22, 2023 Digital commerce leaders are facing a different "exam question" as a result of higher costs and a tougher economic environment, the boss of THG Ingenuity has said.
Mothercare swings to loss as it prepares to refinance debt September 22, 2023 Baby products brand Mothercare has revealed it swung to a loss over the latest year as it is set to complete a refinancing of its debts after interest rates shot up. The retailer said it was taking longer to return to pre-pandemic sales levels. Mothercare, which sells its ranges through retail giant Boots in the [...]
Retailers put all their chips on inflation cooling during golden Christmas run-up September 22, 2023 A better than expected inflation reading, and growing consumer confidence and sales, have offered a glimmer of hope for the UK’s retail sector, as they turn their focus to the vital Christmas trading months. According to today’s ONS figures, retail sales volumes rose by 0.4 per cent in August 2023, partially recovering from a fall [...]
Mike Ashley’s Frasers Group drags Morgan Stanley boss to court seeking £50m in damages September 22, 2023 Mike Ashley’s Frasers Group has dragged the chief executive of Morgan Stanley into a UK legal battle over a $1bn (£814m) margin call regarding Hugo Boss trade. In a New York court filing lodged earlier this week, seen by The Telegraph, the retail group asked the court to make James Gorden hand over documents and [...]
Consumer confidence continues to rise amid cost-of-living woes September 22, 2023 Consumer confidence is continuing to rise against a backdrop of falling inflation – but many households are continuing to struggle with cost-of-living pressures, according to a survey. GfK’s long-running Consumer Confidence Index increased four points in September, but remains at a subdued minus 21. Expectations for the UK’s wider economy over the next 12 months [...]
Retail sales show signs of recovery after summer washout September 22, 2023 Retail sales volumes rose by 0.4 per cent in August 2023, partially recovering from a fall of 1.1 per cent in July 2023, new government figures show. Non-food stores sales volumes grew by 0.6 per cent in August 2023, following a fall of 1.2 per cent in July 2023 when unseasonable rainy weather drove shoppers [...]
High street struggles: 2,000 local stores, pubs and hairdressers wiped away this year September 21, 2023 Nearly 2,000 independent local stores were left vacant in the first half of this year, as the cost of living crisis continues to eat away at the health of the high street and small businesses. Some 1,915 independent businesses on high streets, retail parks and shopping centres closed in the first leg of this year, marking [...]
