News-In-Brief
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Oct- 2024 -7 October
Today’s news in brief-7/10/24
Mulberry founder Roger Saul has suggested that luxury retailer Mulberry might be a better fit with European luxury group LVMH rather than Mike Ashley’s Sports Direct, following Ashley’s unsuccessful £83m bid to acquire the company. Saul, who founded Mulberry in 1971, emphasised that the brand had drifted from its original…
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4 October
Today’s news in brief-4/10/24
Shein is moving ahead with plans for a highly anticipated London IPO, reportedly set to hold informal talks with investors across Europe. According to sources, Shein’s roadshows aim to assess investor interest ahead of regulatory approval from both UK and Chinese authorities. Having confidentially filed for a £50bn float in…
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3 October
Today’s news in brief-3/10/24
Tesco has reported a robust first half of the financial year, marked by increased sales and profits, prompting an upward revision of its full-year guidance. The supermarket giant achieved a 10% rise in retail operating profits to £1.56bn, with statutory operating profits climbing 13% to £1.6bn. This growth was supported…
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2 October
Today’s news in brief-2/10/24
Shop prices fell by 0.6% in September, marking the lowest annual growth since August 2021. Non-food items saw deflation deepen to -2.1%, while food inflation slightly rose to 2.3%, influenced by higher prices in cooking oils and sugary products. Nike’s first-quarter revenue dropped 10% to $11.6bn, prompting the company to…
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