Tax

Frasers to lower bonus goal as boss misses out on £100m payout

Frasers Group CEO Michael Murray is set to miss out on the required targets to achieve a £100m bonus, but the company is set to lower the targets which could see him land the bonus by 2030, according to reports from The Times. The bonus is dependent on the company…

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West End loses out on £310m in sales without tax-free shopping

Retailers in London’s West End have lost an estimated £310m in sales in the first half of 2025 due to the ongoing absence of tax-free shopping, according to new research released by New West End Company. The figure represents a 40% increase on the £220m lost over the same period…

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Debenhams mulls PLT sale as pre-tax losses widen

Debenhams revealed it is planning to offload PrettyLittleThing (PLT) after reporting pre-tax losses of £264m for the year to 28 February 2025, up from £164m a year earlier. The group attributed the loss to a one-off exceptional item linked to strategic decisions, including the closure of its US distribution centre…

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JD Sports H1 sales drop 2.5% causing H2 concern

JD Sports has revealed that its sales across the group dropped 2.5% for the half year ended 2 August 2025. The company stated that this was in large part due to tough comparatives as Euro 2024 the previous summer saw an increase in replica kit sales and in-store cross-sell as…

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Frasers acquires minority stake in We Do Play

Frasers Group has announced the acquisition of a minority investment in UK leisure, retail, and hospitality experts, We Do Play. The group said this strategic investment marks Frasers’ debut into the leisure market, diversifying its consumer offering through synergies with its existing ecosystem, including Sports Direct and its growing real…

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Business rates ‘double hit’ to cost English firms £2.5bn

Businesses the length and breadth of England are “staring down the barrel” of a £2.5bn hike in property taxes from April 2026, as inflation and a new government stealth tax will combine to drive up business rates bills, according to analysis by global tax firm Ryan. A nationwide revaluation of…

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Shop price inflation hits 18-month high in first week of August

Shop price inflation increased to 0.9% year on year in the week ended 7 August, an 18-month high, according to data from the British Retail Consortium. This increase came against growth of 0.7% in July and was above the three-month average inflation of 0.6%, driven by price hikes across butter,…

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New Look owners appoint Rothschild to oversee sale process

New Look owners, Alcentra and Brait, have reportedly hired Rothschild to advise on a strategic review, which is expected to lead to a sale of the high street fashion chain next year, according to Sky News.  It is understood that the appointment of the investment bank took place in recent…

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Retail bosses urge chancellor to cut industry tax burden in Budget

More than 60 retail leaders have written to the chancellor ahead of the Autumn Budget, warning that rising costs are driving up prices and threatening jobs. Chief executives from companies including Tesco, Sainsbury’s, Aldi, Asda, Boots and Ikea signed the letter, which calls for a reduction in business rates for…

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River Island’s predicament: High Court rescue buys time, not certainty

River Island has won a crucial lifeline after a High Court judge sanctioned its restructuring plan, allowing the embattled fashion retailer to push ahead with sweeping store closures, deep rent cuts, and a debt write-off. The ruling came just days before the company warned it would run out of money…

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