B&M looking to ease market jitters over new leadership May 29, 2022 Press Association INVESTORS will be looking for any forward-looking forecasts that they hope can lift B&M’s ailing shares as it reports its full-year results tomorrow.The recently announced departure of the company’s long-term chief executive and his family’s reduction of their shares in the firm have weighed on London-listed shares. It has meant that B&M, which [...]
Nationwide boss takes aim at rivals over bank branch closures May 29, 2022 The outgoing chief executive of Nationwide Building Society has taken aim at rivals for shuttering swathes of branches around the country, as he doubled down on the firm's commitment to maintaining its high street presence.
KFC trials first delivery only kitchens to reach London fried chicken lovers May 27, 2022 KFC has launched its first delivery only kitchens today, as the company tries to untap opportunities and create jobs across the country.
‘Back to business’ for City favourite T.M. Lewin after 120-year old menswear brand strikes rescue deal May 27, 2022 British menswear brand TM Lewin, for decades a favourite among workers in the Square Mile, told City PM this morning it is back in business. Announced six weeks after the heritage brand struck a rescue deal with TM Lewin Shirtmaker Limited, the company is relaunching solely online, for now. Established over 120 years ago, TM [...]
JD Sports attempts to calm investors about Cowgill exit as shares slump May 27, 2022 JD Sports made attempts to reassure investors yesterday after red flags were raised by the sudden departure of Peter Cowgill.
Oxford Street footfall still 52 per cent lower than pre-pandemic, making it the UK’s worst hit High Street May 27, 2022 Footfall on London’s Oxford Street is still 52 per cent lower than pre-pandemic levels – the worst hit high street across the UK, according to fresh retail data shared with City PM this morning. London continues to be impacted by hybrid working and less commuting into the city than previous years, as well as the [...]
Ted Baker slashes losses as consumers splash cash on party and office-wear once more May 26, 2022 Ted Baker has narrowed its losses as the fashion brand edges closer to a private equity takeover. The London-listed retailer posted a loss before tax of £44.1m, an improvement of 59.1 per cent, in preliminary results for the year ended 29 January 2022. Ted Baker had suffered a £107.7m loss the year prior, after pandemic [...]
Start-up woes: Getir follows Gorillas and Zapp headcount culls with 800+ jobs slashed May 26, 2022 Getir and Zapp have been the latest rapid delivery startups to slash jobs, in a further blow for the speedy grocery category. Turkey-based Getir told workers it intends to slash its global headcount by 14 per cent, representing some 840 job losses. “With a heavy heart, we today shared with our team the saddening and [...]
TGI Friday’s owner shares plunge after revenue sinks amid diners’ tightening purse strings May 26, 2022 TGI Friday’s owner Hostmore’s share price has plummeted almost 15 per cent after the restaurant operator posted subdued revenue versus pre pandemic levels. Hostmore, which also operates the cocktail bar brand 63rd+1st, said like-for-like revenue was six per cent lower than 2019 levels. In a trading update for the 20 weeks ended 22 May, the [...]
Tech giant AGM: Amazon shareholders reject investor-led proposals on workers’ rights May 25, 2022 Amazon shareholders voted down all investor-led proposals at the tech giant’s AGM on Wednesday afternoon. Among the 15 shareholder proposals, rejected resolutions included those critical of the company’s use of plastics and particular concealment agreements in contracts. The $1tn e-commerce giant had pushed back against all of the shareholder proposals, the highest number it has [...]
