Interest Rates
This coverage explores UK interest rate movements and their impact on the retail industry, focusing on monetary policy decisions, borrowing costs, consumer spending, and retailer financing strategies. Reporting highlights how rate changes affect sales dynamics, investment planning, and operational budgets — providing insight for executives, finance leads, and business strategists navigating economic volatility.
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Nov- 2024 -1 NovemberClothing & Shoes
Castore swings to pre-tax loss of £28.8m despite sales surge
British sportswear brand Castore has reported a pre-tax loss of £28.8m for the year ended 4 February 2024 after previously recording a profit of £14.7m the prior year. The group stated that this result has been impacted by non-recurring warehouse consolidation, ongoing investment in the cost base and a challenging…
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Oct- 2024 -16 OctoberNews-In-Brief
Today’s news in brief-16/10/24
Inflation in the UK has dropped to 1.7% in September, marking its lowest level in over three years, down from 2.2% in August. This decline, driven largely by falling airfares and petrol prices, is below the Bank of England’s 2% target, which may result in pressure to lower interest rates.…
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16 OctoberEconomy
Inflation falls to lowest rate in over three years
UK inflation fell to 1.7% in September, down from 2.2% in August, marking the lowest rate in over three years.This means inflation is now below the Bank of England’s 2% target, meaning the bank may face pressure to cut interest rates next month. According to the Office for National Statistics,…
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14 OctoberNews-In-Brief
Today’s news in brief-14/10/24
Mulberry’s majority shareholder has rejected an increased bid from Frasers Group, which had offered £111m to take control of the luxury fashion brand. Frasers, already owning 37% of Mulberry, raised its offer to 150p per share after a previous £83m bid was turned down. However, Mulberry’s majority shareholder, Challice, expressed…
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3 OctoberSupermarkets
Sainsbury’s chief calls for Budget action on consumer confidence
Sainsbury’s boss Simon Roberts has called on the government to introduce measures to improve consumer confidence in the Budget this month. He told Reuters that despite falling inflation, higher wages, and solid employment levels, UK shoppers remain nervous about spending on bigger ticket items. Recent surveys have shown UK consumer…
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2 OctoberSupermarkets
Booths narrows pre-tax losses to £1.6m
Supermarket chain Booths has narrowed its losses from £4.0m in 2023 to £1.6m and has reported a 6.7% rise in sales to £318.7m for the year ending 30 March 2024. The group attributed the performance to increased footfall and basket spend, partly due to inflation and the benefit of an…
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1 OctoberNews
Sleepeezee pre-tax profits dip to £159k in FY23
Bed retailer Sleepeezee has reported a pre-tax profit of £159,261 for the year ended 31 December 2023. According to statements filed at Companies House, the business saw its turnover fall from £39m in 2022 to £38.7m. The bed manufacturer said that retail performance was impacted by rising interest rates and…
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Sep- 2024 -23 SeptemberClothing & Shoes
Oliver Bonas profits fall to £6.8m amid high inflation
Oliver Bonas profits dropped to £6.8m for the year ended 31 December 2023 as the company struggled with growing interest rates and high inflation. Although profit before tax fell 5%, EBITDA rose by 11%. Turnover for the company was also up 18% to £136m. In addition, on the digital side,…
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19 SeptemberEconomy
BoE holds interest rates at 5%
The Bank of England (BoE) has decided to hold interest rates at 5% this month, having lowered them for the first time in four years in August. The bank voted by a majority of 8-1 to keep the rate the same in a bid to help “sustain growth and employment”.…
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Aug- 2024 -23 AugustClothing & Shoes
Fred Perry PBT jumps 11.5% to £18.5m
Fred Perry has revealed its profit-before-tax jumped 11.5% to £18.4m in the year ended 31 December 2023. In its most recent filings to Companies House, the clothing and sportswear retailer, founded by the eponymous Wimbledon champion, revealed its turnover also jumped 10% to £154.1m as its European and and International…
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