Currys has formed a strategic partnership with Ohme, a renowned smart EV charger manufacturer, enhancing its product offering in the UK.This collaboration allows Currys to retail Ohme’s chargers directly to consumers both online and in 50 flagship stores.The decision aligns with the rising trend of electric vehicle sales in the UK, which have increased by more than 10% this year.Ohme’s award-winning chargers and outstanding customer service were key factors in Currys’ decision.The partnership reflects Currys’ strategic initiatives following its recent collaboration with Accenture and Microsoft.Currys has announced a significant partnership with Ohme, a leading manufacturer of smart electric vehicle (EV)…
Author: Dave Antrobus
Food sales growth in the UK showed signs of deceleration in September, influenced by adverse weather conditions.The British Retail Consortium (BRC) and KPMG reported a notable drop in food sales increase from 7.4% in September 2023 to 3.1% this year.The wet weather and economic caution are key factors contributing to the slowdown in sales growth.Despite a slower pace in food sales, UK retail showed its strongest growth in six months, bolstered by non-food sectors.Concerns about rising energy prices and an impending Autumn Budget pose potential challenges to consumer confidence.In September, the UK experienced a significant slowdown in food sales growth,…
Frasers Group has strategically enhanced its portfolio by acquiring three prominent shopping centres across the UK. This move underlines its commitment to investing in physical retail spaces.The acquisitions include Princesshay Shopping Centre in Exeter, a 600,000 sq ft property.Frasers Group plans to open a large flagship and Flannels store in Kent’s Fremlin Walk Shopping Centre.The Olympus Centre retail park in Gloucester’s Quedgeley is also part of this expansion.Michael Murray, CEO of Frasers Group, emphasises the importance of these locations as key retail destinations.Frasers Group, in a decisive move to strengthen its presence in the UK’s retail sector, has acquired three…
In a remarkable achievement, Asda’s initiative has reached £3 million, significantly impacting UK primary schools.Launched four weeks ago, the campaign allows customers to support schools through their purchases.Joe Wicks leads the initiative, encouraging community participation for a noble cause.The campaign has successfully engaged over 21,500 schools, marking a significant enrolment rate.Expectations are high as the initiative aims to raise £7.7 million in total.In a remarkable achievement, Asda’s ‘Cashpot for Schools’ campaign has reached an impressive £3 million milestone just four weeks after its launch. This initiative, spearheaded by TV fitness personality Joe Wicks, offers customers the opportunity to donate 0.5%…
Recent data indicates a shift in the supermarket landscape as Tesco achieves substantial growth.Tesco now commands 28% of the market, its highest share since 2017, with a significant profit increase.Asda continues to face challenges, with its market share decreasing by more than one percentage point.Sainsbury’s and Ocado also show growth, each enhancing their market positions.Seasonal consumer behaviour influences supermarket sales as Halloween approaches.Tesco’s market share has risen to an impressive 28%, marking its largest share since 2017. This growth is reflected in their financial performance, with a 10% surge in half-year profits and a 4% increase in sales, as reported…
Greencore, the UK’s leading sandwich producer, has once more adjusted its profit forecast upwards, citing impressive sales figures in the fourth quarter of 2024.For the quarter ending 27 September, like-for-like sales increased by 3.7%, driving total annual growth to 3.4%.The company now anticipates annual profits to range between £95 million and £97 million, with total sales hitting £1.8 billion.This adjustment follows a prior forecast increase in July, when profits were expected between £88 million and £90 million.Greencore’s strategic focus remains on providing quality food and maintaining profitability amidst rising costs due to the National Living Wage.Greencore, recognised as the UK’s…
Business advocates propose significant tax cuts for green technology sectors.The CBI suggests reducing the corporation tax to 10% for green manufacturers.A “green innovation credit” is encouraged to promote low-carbon research and development.Further tax reliefs are proposed to support electric vehicle manufacturing.The IPPR calls for revised borrowing rules to enhance public investment.The call for a substantial reduction in corporation tax for companies producing electric cars, heat pumps, and biofuels comes amidst ongoing discussions about economic growth and environmental responsibility. There are proposals to decrease the tax rate from the prevailing 25% to 10%, a move that is seen as essential to…
September witnessed a notable increase in retail sales as consumers geared up for the autumn season and the new academic year.Retail sales saw a growth of 2% in September, surpassing the 12-month average of 1.1%.Food sales experienced a year-on-year rise of 3.1% over the three months to September.Non-food sales declined by 0.3%, though online non-food sales grew by 3.4%.Consumer spending was impacted by ongoing financial concerns, affecting demand for big-ticket items.In September, the retail sector experienced a positive uptick as consumers prepared for the autumn season and the commencement of the new academic year. The British Retail Consortium (BRC) reported…
Max Nutz has resigned as the Managing Director for Inditex UK and Ireland after a notable 25-year career.Pilar Losada, previously responsible for operations in Australia and New Zealand, will succeed Nutz.Nutz began his career with Inditex in 1999, advancing to significant international roles.Losada, joining in 2010, served in varied leadership positions including Central China and Australia.Inditex announced a 10% rise in profits, driven by robust brand performance, amidst this transition.Max Nutz has stepped down as the Managing Director for Inditex UK and Ireland, marking the end of a distinguished 25-year tenure with the company. His career at Inditex began in…
Saudi Arabia’s Public Investment Fund (PIF) has acquired a 40% stake in Selfridges, previously owned by the defunct Austrian company Signa.The PIF has been involved financially with Selfridges for the past three years, taking a 10% stake after an earlier auction.Thailand’s Central Group remains the majority shareholder with a 60% holding, with both companies committing to further investment.This strategic partnership aims to bolster the financial stability and future growth of the Selfridges Group.Central Group’s executive reports confidence in PIF’s global investment track record to enhance Selfridges’ continued success.Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has significantly increased…