Tax

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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WHSmith lowers US profit forecast after £30m accounting overstatement

WHSmith has cut its profit forecast for its North American business after uncovering an accounting overstatement of around £30m. As a result, it now expects headline trading profit from North America to be about £25m for the year ending 31 August 2025, compared with previous market expectations of around £55m.…

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Shein’s UK arm sees profits surge as revenues hit £2bn

Shein’s UK arm saw revenues jump 32% to £2.05bn for the full year ended 31 December 2024, according to its latest accounts filed with Companies House. Ahead of a potential float on the Hong Kong stock exchange, Shein also saw its UK profit-before-tax hit £38.25m in 2024, up from £24.43m…

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UK quarterly GDP beats expectations despite slowdown

UK GDP grew 0.3% in the three months to June, behind the 0.7% it grew in the first quarter, as a result of US tariffs and higher business costs, according to data from the Office for National Statistics (ONS). However, it is better than expected growth as economists polled by…

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