England
This coverage focuses on retail developments, trends, and performance across England. Reporting includes store openings and closures, regional economic factors, consumer behaviour, property developments, and strategic initiatives by national and local retailers. Designed for executives and managers, it offers insights into operating successfully within England’s diverse retail landscape.
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Oct- 2022 -19 OctoberSupermarkets
Booths sales rise 4.4% in FY22
Booths has reported an overall sales improvement of 4.4% (£12.6m) to £296.7m in its full year results to 2 April 2022. Profit before tax rose by £1.1m to £3m, up from £1.9m the prior year, while EBITDA increased by £1.4m to £13.3m compared to £11.9m in 2021. The group’s trading…
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18 OctoberNews
Bensons for Beds buys Eve Sleep out of administration
Bensons for Beds has purchased the Eve Sleep brand for an undisclosed sum after the business entered administration yesterday (17 October). Under the transaction, Bensons will acquire Eve Sleep’s intellectual property, the evesleep.co.uk website and all creative, content and communication assets. Bensons intends to retain Eve Sleep as a standalone…
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11 OctoberSupermarkets
CMA set to greenlight Morrisons’ McColl’s takeover
The Competition and Markets Authority (CMA) is set to greenlight Morissons’ proposal to acquire McColl’s after accepting proposals for the supermarket giant to sell 28 stores to address competition concerns. It comes as the authority launched an investigation into Morrisons’ proposed £190m purchase of McColl’s-owned stores last July. Following Phase…
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5 OctoberNews
Home brewing beer brand Pinter tops list of the UK’s fastest growing online companies
Home brewing beer brand Pinter has topped a new list of the UK’s fastest growing online companies. Pinter, based in Walthamstow, London, has grown sales by more than sixfold (626%) to almost £6 million as beer lovers save money in the cost of living crisis by serving perfect pints they…
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3 OctoberSupermarkets
Morrisons faces £100m hit to borrowing costs amid debt pile up
Morrisons is facing a near-£100m hit to its borrowing costs amid market turmoil adding pressure on the supermarket chain. According to The Times, over half of the grocer’s longer-term debt is at a floating rate and it has no interest hedging in place. Ratings agency Moody’s reportedly estimates that recent…
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Sep- 2022 -26 SeptemberNews
Sainsbury’s property deal with LXi REIT falls through
Property investor LXi REIT has announced it is pulling out from a deal to buy 18 Sainsbury’s stores in southern England after suspending an equity funding, citing stock market volatility. LXi had last Wednesday (21 September) said it was in talks with the grocer to buy 18 supermarkets for £500m…
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22 SeptemberEconomy
BoE raises interest rates to 2.25%
The Bank of England has today (22 September) announced that interest rates will be raised by 0.5%, with rates rising from 1.75% to 2.25%. The latest announcement from the Monetary Policy Committee (MPC) comes as inflation remains at record highs for the UK, and marks the seventh consecutive rise in…
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12 SeptemberEconomy
BoE delays interest rates decision
The Bank of England (BoE) has delayed its interest rates decision for one week, following the death of Queen Elizabeth II. The meeting of the Monetary Policy Committee, which was expected to further raise interest rates, is now expected to be held at 12pm on 22 September, in light of…
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9 SeptemberEconomy
UK workers face £2,000 hit to real wages
UK workers are facing a £2,000 hit to their real wages by the end of 2022 as the UK economy confronts a “highly volatile and uncertain” inflationary outlook, according to the latest PwC Economic Outlook. PwC expects that the UK will likely report growth of between 3.6% in the “mild…
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Aug- 2022 -30 AugustHigh Street
Store closures drop to lowest rate in seven years
Store closures have stabilised to the lowest rate in over seven years, with 6,146 store closures in H1 2022 (-30%) year-on-year from multiple retail operators, compared to 3,888 openings (+11%). According to PwC’s latest Store Openings and Closures report for H1 2022, there were 34 closures, 21 openings, and a…
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