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...and prepares for a sale of stock to retail investors....
...Screwfix, the UK chain of hardware stores, also recorded growing sales, as the company announced it planned to launch up to 40 new outlets in the UK and Ireland in 2024/25 and grow that number to more than...
...“Hammerson’s results are yet again providing the market with evidence that best-in-class retail space is back in demand....
...The company cautioned, however, that rising wages would probably result in “reduced employment opportunities in the wider economy”....
...The better than expected reading, on the back of strong growth in January, adds to signs of the UK economy recovering from last year’s technical recession....
...UK food-to-go retailer Greggs said it was on track to double sales by 2026 as the Newcastle-based group expects to open up to 160 new shops this year after adding 145 in 2023....
...UK retail sales and consumer spending rose at the slowest pace since 2022 in February, according to industry data published on Tuesday, spurred by bad weather and falling inflation....
...In a further sign that M&S has got its mojo back, it is now neck and neck with Waitrose, with an equal share of the UK grocery market of 3.8 per cent, according to data provider NIQ, after Waitrose had the...
...Growth in UK retail spending slowed in January, according to new industry data that suggests households continue to be squeezed by the cost of living crisis....
...The numbers suggest the economy is starting to shrug off some of the weakness seen at the end of 2023, when the UK slipped into a technical recession....
...At half-year results in September, the group warned it would take a further two years to complete a turnaround of the department store chain and supermarket to 2027-28 from 2025-26....
...Sales at discounter Lidl rose 15.3 per cent in the three months to December, faster than any other UK grocer, researcher NIQ said this week....
...Consolidation in the cycling sector and more customers making purchases on credit had also led to weaker profit margins in the group’s retail business, it said....
...Shares in the UK’s second-largest supermarket chain, which had climbed by almost a fifth in the run-up to the critical Christmas trading period, were down almost 5 per cent....
...As a result of higher prices, Fortnum & Mason “did see people trading down, so more customers spending slightly less, which again, I think is a feature of retail more broadly,” said Athron....
...Lord Justice Lewison, quoting a Supreme Court judge in an unrelated case, said: “If I could find a way of avoiding this result, I would....
...UK grocery inflation has dropped to its lowest level since February 2022, before Russia’s invasion of Ukraine, according to sector data that suggests the surge in food costs is finally fading....
...He added that the police forces were “already seeing positive results” from the implementation of the measures in the Retail Crime Action Plan....
...Jacqui Baker, head of retail at RSM UK and chair of ICAEW’s retail group, said the figures marked “a shocking end to the golden quarter”....
...Retail Consortium, said....
...In its results, Ocado said it intended to receive a payment either “via a formal litigation process or settlement”....
...Ben Hunt, a retail analyst at Investec, described the results as “a solid performance and a touch ahead of our expectations”, citing Greggs’s competitive pricing compared with its peers as well as the benefit...
...The UK’s largest supermarket chain now expects adjusted operating profits of £2.75bn from its retail business, up from an earlier projection of £2.6bn-£2.7bn....
...But Frasers, which also owns upmarket chain Flannels in the UK, is still interested in the brand, according to a person familiar with the situation....
...As a result, Yael Selfin, chief economist at KPMG UK, said the consultancy expected “the BoE to remain cautious as it interprets the last set of data”....
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