Ocado: Annual revenue dives to £2.2bn but up on pre-pandemic level as retailer sees strong festive trade January 17, 2023 Online grocery retailer Ocado saw its revenue dive to £2.2bn in 2022, down 3.8 per cent from the previous year, but up by 40 per cent on pre-pandemic levels in 2019. The online grocery delivery giant managed to claw back some growth with postive Christmas and New Year trading updates. It’s rivals Tesco and Sainsbury’s [...]
Exclusive: High Street queen Mary Portas says retail’s 2022 race to the bottom is finally over January 12, 2023 City PM sits down with the 'Queen of retail', or Madam High Street, retail consultant and broadcaster Mary Portas.
Staggering £25bn down the drain as 9 in 10 Brits plan to cut back in 2023 January 12, 2023 Close to £25bn-worth of discretionary outgoings in the “cut-back economy” may be lost this year as close to nine in 10 people plan to reduce their spending over the year ahead. More than a third of UK households are “financially distressed” and plan to cut back across most, if not all, of their non-essential spending, [...]
Aggressive institutional investors pushing into digital assets set to replace retail players January 10, 2023 Institutional investors are set to replace retail investors as the major holders of digital assets in 2023, according to new research shared with City PM today. More than 7 out of 10 of professional investors believe institutions will hold 60 per cent of digital assets within seven years, reversing the current status where institutions hold [...]
Plus500: Fintech group tops analysts’ estimates after boost in ‘high-value’ traders January 10, 2023 Fintech trading group Plus500 topped market expectations today as it said revenues for its full year swelled to around $832m on the back of a boost in "high value, long term" customers.
Hargreaves Lansdown’s shares appear to rally as founder rounds on trading platform’s bosses over hybrid advice plans January 8, 2023 The co-founder of trading platform Hargreaves Lansdown has launched a scathing attack on “unnecessary and irrelevant” programmes launched by its outgoing chief today, after a collapse in the FTSE 100 firm’s share price over the past three years.
Retail woes: 47 shops closed EVERY DAY in 2022 amid warning ‘big hitters’ could fall January 2, 2023 The UK’s retail sector had a bruising year in 2022 as more shops closed their doors than at any other point for at least five years. Around 47 sites shut up shop for the last time every day last year, according to new analysis. The Centre for Retail Research found that 17,145 shops on high [...]
UK consumers can expect a tsunami of offers and discounts in 2023, predicts retail heavyweight December 30, 2022 Consumers in the UK and across many other markets can expect a tsunami of offers, discounts and other price cuts in 2023 as retail’s focus is rapidly shifting to improving demand, according to an industry insider. As many retailers over-ordered in recent years, while there was a supply shortage, companies are now keen to get [...]
AJ Bell assets slide as volatility hits investors December 1, 2022 Trading firm AJ Bell said the value of assets on its platform had dipped two per cent in the past year as extreme volatility on the markets dealt a blow to retail investors' holdings.
City watchdog looks to boost access to financial advice for consumers November 30, 2022 The Financial Conduct Authority has laid out measures to widen access to financial advice today to allow consumers to “invest with confidence” amidst a cost of living crunch.
