Author: Sam Allcock

In a significant move, Next has again raised its profit forecast, aiming for the £1bn mark.The company’s annual profit forecast has been enhanced by £15m, reaching £995m, marking an 8.4% increase on last year.Next’s first-half pre-tax profit saw a rise of 7.1%, amounting to £453m for the six months ending in July.The group’s total sales, including those from its subsidiaries, climbed 8% to £2.9bn.Overseas sales proved a standout, with a 22.8% increase in the online division, supporting international growth.Next is making strides towards achieving a £1bn profit milestone, having adjusted its annual profit guidance upward by £15m. With this adjustment,…

The departure of Mohsin Issa from Asda’s executive leadership has paved the way for Stuart Rose and Rob Hattrell to steer the company.Rose has publicly expressed disappointment with Asda’s recent performance, asserting the need for change in leadership.With a background at M&S and an understanding of retail dynamics, Rose is seen as a temporary solution to stabilize Asda.Retail experts hold mixed opinions on Rose’s effectiveness and the challenges he faces, including plummeting market share.Asda’s ongoing search for a permanent CEO faces obstacles, but the recent management shuffle offers hope for future stability.Mohsin Issa’s decision to step back from Asda’s executive…

John Lewis celebrates a century of its ‘Never Knowingly Undersold’ promise with a new advertisement.The ad marks the start of the store’s largest marketing campaign to date.Created by Saatchi & Saatchi, the 90-second film revisits the history of John Lewis through shop window displays.The campaign reinstates the price promise pledge, which was scrapped two years ago.Set to Laura Mvula’s music, the ad also highlights key historical moments from the 1920s to the present.John Lewis has launched an ambitious advertising campaign to mark 100 years of its iconic ‘Never Knowingly Undersold’ pledge. This initiative kicks off what is billed as the…

Mohsin Issa steps back from his executive role at Asda, marking a shift in the retailer’s leadership.Stuart Rose assumes executive responsibilities temporarily, pending the appointment of a new CEO.Retail expert Clive Black describes Rose as a strong interim leader at Asda.Rob Hattrell, from TDR Capital, brings strategic expertise and a hands-on approach.Asda’s new team faces challenges including market share loss and IT issues.Mohsin Issa, co-owner of Asda, has stepped down from his executive leadership role. This move sees Stuart Rose, the company’s chair, taking on increased executive responsibilities alongside TDR Capital partner Rob Hattrell. This change in leadership comes amid…

In an era of global economic challenges, fintech companies face hurdles in securing funding. However, strategic approaches can yield success.The economic uncertainty and political instability have impacted investor confidence, particularly in London.Amid this challenging landscape, some companies have managed significant fundraising rounds, demonstrating resilience.The funding environment is recovering with London startups raising significant VC capital last year.A new challenge arises as competition within the fintech space intensifies, demanding innovative strategies to attract investment.In recent years, fintech companies have encountered significant obstacles in securing funding due to economic uncertainty and political instability, especially in London. The pandemic has further complicated the…

The Organisation for Economic Co-operation and Development (OECD) has called for ‘significant action’ to stabilise the UK’s public finances.This follows concerns about mounting financial pressures and unsustainable debt levels.Key recommendations include reviewing tax policies and reforming the council tax system.The UK government’s debt has risen to almost 100% of GDP, heightening fiscal challenges.Chancellor Rachel Reeves is preparing her first budget, facing a £22 billion overspending dilemma.The Organisation for Economic Co-operation and Development (OECD) has issued a stark warning regarding the stability of the United Kingdom’s financial situation. The international body has stressed the need for ‘significant action’ ahead of Chancellor…

The Range and Wilko’s owner, CDS Superstores, has entered into a strategic partnership with THG Fulfil for enhanced fulfilment services.This collaboration aims to support the brands’ omnichannel expansion, focusing on home, leisure, and garden products.Part of the deal includes using advanced warehouse automation, featuring a fleet of new robots to optimise operations.The partnership will facilitate the relaunch of thousands of Wilko branded items, enhancing distribution efficiency.THG Fulfil’s expertise is expected to significantly improve customer service and brand reputation for The Range and Wilko.CDS Superstores, which owns The Range and Wilko, has announced a new strategic partnership with THG Fulfil. This…

In 2023, Pret A Manger’s sales soared by 22% to reach an unprecedented £1.1 billion, marking a significant milestone powered by its strategic overseas expansion.Sales for Pret A Manger rose by 10% to £569 million in the first half of 2024, with same-store sales growing by 3%.Approximately £1 of every £4 that Pret’s customers spend now comes from outside the UK, highlighting its successful international reach.Franchising has become a vital revenue stream, accounting for a third of Pret’s total sales.The company plans to further expand its presence on the US East Coast by opening more than 10 new shops by…

The UK Supreme Court’s decision regarding the employment status of English football referees signifies a significant legal development.Referees for English football matches are now legally considered employees, obligating Professional Group Match Officials Ltd to handle tax deductions.The ruling emphasizes the importance of accurately identifying employment statuses to ensure individuals receive their rights.Legal expert Andrew Willis highlights the court’s focus on practical realities over labels in determining employment status.Potential changes under the prospective Labour government could lead to a simplified single status of worker.The UK Supreme Court has delivered a landmark ruling regarding the employment status of referees in English football,…

THG is contemplating the separation of its Ingenuity service as part of its strategic review to enhance shareholder value.The aim of the demerger is to streamline THG into two main segments: THG Beauty and THG Nutrition.No specific timeline for this demerger has been established, though tax clearances have been secured by HMRC.Any future demerger will require approval from THG shareholders, with further details to be disclosed later.Revenue has decreased by 3.6% in the half-year report, although adjusted EBITDA showed slight growth.THG has disclosed plans to potentially demerge its Ingenuity ecommerce service as a component of its broader strategy to maximise…