Tax

Business rates rise could see more than 100 supermarkets at risk

More than 100 large UK supermarkets could reportedly face closure under government plans to raise business rates for the most valuable retail properties, according to the Financial Times. It learnt that the proposed changes, due to be announced in the autumn Budget, could increase rates for premises with a rateable…

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It’s time we had a system that stopped taxing retailers as if it were 1599

Our high streets have had a tough time in recent years – battered by a global pandemic, war, energy shocks and soaring inflation. Yet despite it all, shops have kept going – serving their communities, creating jobs, and showing remarkable resilience. But resilience isn’t a plan for growth, and nostalgia…

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Shoe Zone halves profit forecast amid weak consumer confidence

Shoe Zone expects annual profits to fall by half after seeing a drop in footfall and revenues during June and July, as higher interest rates and weak consumer confidence continue to weigh on spending. The footwear retailer now forecasts adjusted profit before tax of about £2.5m for the year ending…

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AO World appoints Sophie Tomkins as non-executive director

AO World has announced that Sophie Tomkins has been appointed as an independent non-executive director of the Company with effect from 1 September 2025. AO World said Tomkins brings “extensive” board-level experience, currently serving as a non-executive director at Wilmington PLC, Virgin Wines UK PLC, and System1 Group PLC and…

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The Entertainer to become an Employee Owned Trust

TEAL Group Holdings, owner of The Entertainer, Early Learning Centre and Addo Play Ltd, has announced that the Grant family are transferring their 100% ownership to an Employee Ownership Trust. Due to complete in September 2025, The Entertainer said this decision is the culmination of a long-term succession plan and…

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River Island’s restructuring plan greenlit by High Court

A High Court judge has approved River Island’s plans to shutter 33 stores, cut rents on a further 71 shops and write off a series of debts in a bid to save the retailer from collapse.  It comes as River Island warned it would run out of money by the…

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Iceland links food price rises to Reeves’ budget measures

Iceland has warned that food prices will rise as suppliers pass on higher costs linked to last autumn’s budget measures, The Telegraph has reported. The supermarket said the increase in employers’ National Insurance contributions and the National Living Wage was pushing up its suppliers’ labour costs, which in turn were…

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Grocery helps boost Deliveroo’s H1 GTV to £3.78bn

Deliveroo has reported a 9% year-on-year increase in gross transaction value (GTV) and revenues, reaching £3.78bn and £1.04bn respectively, driven by double-digit growth in its grocery segment for the first half of the year ended 30 June 2025. Order volumes rose 8% to £147m, with GTV per order up 1%…

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David Beckham collab helps Hugo Boss sales inch up in Q2

Hugo Boss has revealed its currency-adjusted group sales increased 1% to €1.02bn (£871.4m) during the second quarter of the year, as its collaboration with David Beckham helped boost its Boss Men division. It comes as the partnership helped currency-adjusted revenues for Boss Menswear jump 5% in the second quarter, which…

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Morrisons profits hit £2.1bn after trimming 3,600 roles last year

Morrisons has revealed that it cut 3,600 jobs as it returned to profit for the first time since its private equity takeover in 2021. According to accounts filed with Companies House, the company posted a pre-tax profit of £2.1bn for the year ended October 2024, compared to a loss of…

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