Author: Scott Dylan

Naked Wines has announced a significant reduction in its pre-tax losses for the first half of 2024, aligning with the retailer’s expectations of robust trading during the peak season period.Naked Wines, a prominent player in the online wine retail market, has reported a narrowing of pre-tax losses to £5.6 million for the first half of 2024, compared to a substantial £9.7 million loss in the same period of 2023. Despite a 15% decline in total sales, amounting to £112.3 million, the company maintains that its financial and strategic position is solid as it approaches the peak trading season.The company’s Adjusted…

Clyde Hydrogen Systems reports a significant advancement in hydrogen production at high pressures, coupled with a new funding initiative.The Scottish company developed a catalytic hydrogen generator that achieved production pressures exceeding 100 bar.This technical feat could revolutionise how intermittent renewable energy is transformed into hydrogen.The £5m funding round is integral to advancing this technology towards commercialisation by 2027.CEO James Peck affirms the milestone signifies years of intensive research, promising a robust transition to net-zero sustainability.Clyde Hydrogen Systems, a promising Scottish startup, recently showcased a major technical breakthrough in hydrogen energy technology at its headquarters in Glasgow. This achievement aligns with…

Partful, a Manchester-based 3D SaaS platform, has successfully secured a £5m Series A investment.The funding round was led by Northern Gritstone, focusing on science and tech businesses in Northern England.Co-investors include Par Equity and Blumberg Capital from the US.Funds will be utilised to automate Partful’s platform and expand within the $640bn aftermarket sector.CEO Sam Burgess aims to enhance OEM support by advancing platform capabilities.Manchester-based Partful, known for its innovative 3D models that unveil intricate product components, has successfully raised £5 million in a Series A funding round. This funding will enable Partful to enhance platform automation and accelerate growth in…

Asda is revolutionising retail technology with a new trial of electronic shelf-edge labels (ESLs) at its Manchester Express store.Asda has initiated a 12-week trial of electronic shelf-edge labels at its Express store located on Oxford Road, Manchester. This innovative initiative is designed to enhance pricing updates and improve operational efficiency. The store, given its high footfall, now features 3,000 ESLs across various product categories. These advanced labels allow staff to update prices swiftly, with the changes reflected on the shelves within 15 seconds.Chris Walker, Managing Director of Asda Express, expressed enthusiasm about the trial, stating that it exemplifies their commitment…

UK supermarket sales are projected to exceed £13bn in December for the first time, influenced by demand for premium products.Take-home sales rose by 2.5% for the four weeks to 1 December, driven by festive shopping behaviours.Spending on premium own-label goods has increased to 5%, with expectations to hit 7% by the month’s end.Monday, 23 December is anticipated as the busiest shopping day, as consumers prepare for Christmas celebrations.Despite steady grocery price inflation, the cost of Christmas dinner has climbed to £32.57, a 6.5% increase from last year.December is set to be a record-breaking month for UK supermarket sales, expected to…

Pepco Group encounters substantial financial hurdles with Poundland due to market pressures and strategic transitions.A £675 million impairment charge affects Poundland following performance declines in the fiscal year 2024.The retailer faces increased competition and heightened costs, impacting profitability and sales.Poundland transitions to Pepco-sourced products, contributing to challenges in clothing and merchandise ranges.Despite difficulties, Pepco Group achieves a record £6.2 billion revenue, with Central and Eastern Europe operations expanding.In 2024, Pepco Group registered a significant impairment charge amounting to £675 million on its subsidiary, Poundland, primarily due to a notable downturn in performance. This financial write-down was attributed to a “significant…

PrettyLittleThing’s long-serving marketing chief has departed after a notable ten-year stint.Nicki Capstick joined the company in 2015 and climbed up the ranks to become the Chief Marketing Officer.Her exit coincides with the return of the brand’s founder, Umar Kamani, who aims to refocus business strategies.Capstick’s career also includes positions at Missguided and LittleWoods Clearance, showcasing her extensive marketing experience.Kamani’s return signals a new strategic direction, prioritising customer-centric business decisions.Nicki Capstick, a pivotal figure in PrettyLittleThing’s marketing team, has concluded her decade-long tenure. Joining the company in 2015 as a marketing manager, she progressively advanced, culminating in her appointment as Chief…

Dobbies has received approval to close 12 stores as part of a restructuring plan aimed at securing future profitability.The Court of Session in Scotland approved the plan, allowing Dobbies to exit leases of 10 underperforming sites.Two locations, Morpeth and Stapleton, will transition to new operators, ensuring continued service in those areas.Antrim’s flagship store will remain open after an agreement with its landlord, defying initial closure plans.The effort aims to impact 465 employees out of 3,600, as Dobbies seeks sustainable growth and investment.Dobbies, the well-known garden centre chain, has confirmed the closure of 12 of its stores following the approval of…

Vulse has unveiled plans to enter the US market following a successful $1 million fundraising effort.The platform aims to secure a significant base in the US, enhancing its software and marketing teams.Investments will fund the creation of engineering roles and boost marketing reach.Vulse’s unique tools simplify employee-driven content sharing, fostering brand engagement.Interest from UK investors underscores the platform’s potential, marking Vulse as a promising contender in the employee advocacy space.Vulse, the employee advocacy SaaS from Manchester, is set to establish a presence in the United States, bolstered by a recent $1 million investment round. These funds are earmarked for expanding…

Boohoo Group urges shareholders to refute Mike Ashley’s board nominations, intensifying their ongoing corporate struggle.An independent adviser, ISS, supports Boohoo’s call against Ashley’s proposed board appointments citing conflicts of interest.Ashley criticised Boohoo’s executives, whereas Boohoo claims Ashley’s firm pursues self-interest.The existing board has activated a business review under CEO Dan Finley to enhance shareholder value.Frasers Group’s financial decline seems to undermine their position amidst the board dispute.Boohoo Group has once again made an appeal to its shareholders to reject the appointment of Mike Ashley and Mike Lennon to its board ahead of the general meeting scheduled for 20 December. Institutional…