Author: Scott Dylan

Despite a challenging market environment, Ikea has managed to increase its profits for 2024, even as sales have decreased.Operating profit saw a 4% increase from £1.8 billion to £1.9 billion, demonstrating resilience amidst a difficult economic landscape.The company’s sales dropped by 9%, reaching £21.9 billion, raising concerns about the long-term impact of their pricing strategy.Ikea reduced product prices by an average of 15% in an effort to enhance affordability, contributing to its financial dynamics.Inter Ikea aims to continue reducing prices, reflecting a strategic shift to maintain consumer engagement despite past hikes in raw material costs.Inter Ikea, the entity behind the…

The Entertainer has shelved its expansion plans due to a rise in National Insurance.Two new store projects have been suspended following the latest economic policies.Head office recruitment has also been frozen as a result of governmental decisions.Other retailers like Asda and Sainsbury’s are facing similar financial pressures.The changes have sparked criticism and operational reassessments within the industry.The Entertainer, a well-known toy retailer, has decided to halt its planned store openings in response to the government’s recent increase in National Insurance contributions. This decision was disclosed by CEO Andrew Murphy during an interview with BBC Radio 4’s Today programme. He explained…

The Entertainer postpones store openings due to increased National Insurance costs.Retailer freezes head office hiring as budget impacts business plans.CEO Andrew Murphy cites government tax changes affecting new store viability.Other leading retailers express concerns over rising National Insurance contributions.Supermarkets warn of potential price hikes and budget adjustments.The Entertainer, a notable toy retailer, has decided to postpone its plans for opening new stores. This move comes in response to the government’s decision to increase National Insurance contributions for employers. As a result, the company has also frozen hiring processes at its head office, reflecting broader challenges faced by retail businesses under…

The Entertainer toy chain has announced a halt to its planned store expansion in the UK.The decision is a direct response to the newly announced increase in National Insurance rates.These tax changes are prompting concerns among businesses about rising operational costs.Other major retailers are also signalling potential price increases due to increased employer taxes.The Treasury defends the tax hike as necessary for stabilizing public finances.The Entertainer has scrapped its plans for two new stores in the UK due to the rise in National Insurance (NI) costs introduced in the recent Budget. The rise in employer taxes is causing businesses to…

The Entertainer toy chain halts UK expansion plans due to increased National Insurance costs.The NI rate for employers will rise from 13.8% to 15%, making UK investments less attractive.The policy aims to raise £25 billion annually, impacting business financial strategies.Major companies like Sainsbury’s and M&S signal potential price increases to offset added costs.Businesses consider international expansion due to favourable conditions abroad.The Entertainer toy chain has decided to pause its plans for establishing two new stores in the UK. This decision comes in response to the newly announced National Insurance (NI) increase, which adds significant financial pressure. The rise in NI…

Suits Me, a fintech company based in Cheshire, has acquired Engage business from Solaris.This acquisition involves moving all Engage Card customer accounts to Suits Me.Engage offers a Visa debit card accessible via Community Banks and Credit Unions.Suits Me aims to enhance financial inclusion and accessibility through this acquisition.New cards will be sent out post-Christmas, with balance transfers commencing mid-January.In a strategic move, Suits Me, a well-established fintech company in Cheshire, has acquired the Engage business from Solaris. The acquisition involves transferring all Engage Card customers to Suits Me, marking a substantial progression towards Suits Me’s goal of becoming the leading…

Amy Irons has been announced as the host for BBC Scotland’s Hogmanay celebrations, marking her debut in this role.Joining her will be Scottish singer Marti Pellow and traditional folk band Skipinnish, promising an engaging night.The event will feature live broadcasts from Edinburgh, including a display of fireworks and the traditional Lone Piper.The celebration will maintain the tradition of a rendition of “Auld Lang Syne” led by Skipinnish and jazz singer Georgia Cécile.Comedian Des Clarke will host the Not Quite End of Year Show, adding to the festive entertainment.Amy Irons is set to host BBC Scotland’s Hogmanay celebrations for the first…

In a detailed discussion with the Grocery Gazette, Asda Chairman Lord Stuart Rose candidly addressed the implications of recent Budget tax amendments that impose a considerable financial burden on the retailer.The recent Budget unveiled by Chancellor Rachel Reeves introduces significant tax changes, including a rise in employers’ National Insurance contributions from 13.8% to 15% on earnings above £175 per week, effective from April 2025. The impact of these changes is expected to result in additional costs of approximately £100 million for Asda, a development that Rose describes as “not an easy swallow”. This adjustment places substantial financial pressure on the…

In response to a dip in third quarter sales, Asda is committing £13 million towards additional store hours to enhance customer service during the busy festive season.Asda’s financial performance in the quarter ending 30 September showed a 2.5% drop in sales, excluding fuel, amounting to £5.3 billion. The like-for-like sales also saw a decrease of 4.8%. Despite these figures, the supermarket identified a slight improvement from the previous quarter this financial year. To counter this trend, Asda aims to strengthen its core strategies, focusing on availability, enhancing the customer experience, and investing in value.This strategic investment comes as Asda seeks…

The UK government establishes a group to explore the future of television as the industry shifts towards digital media.Chaired by Media Minister Stephanie Peacock, the group aims to ensure no viewers are left behind as online consumption grows.A recent study indicates that by 2040, 95% of households will have internet TV access, but 5% may still depend on traditional broadcasting.The unconnected demographic, primarily older, lower-income, and rural communities, could face exclusion without intervention.The forum includes representatives from Ofcom, broadcasters, streamers, and organisations like Silver Voices and the Digital Poverty Alliance.The UK government has announced the formation of an industry group…