Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month, the highest rate out of the Group of Seven countries and underlining the severity of the cost-of-living crunch.
The billionaire whose family controls Primark’s parent company has poured cold water on the idea that its newly-announced trial of click & collect services could lead to an eventual full offer online.
Retail stalwart Stuart Rose has joined business leaders in calling on the government to act on the cost of living crisis and rocketing inflation. The Asda chairman has urged ministers to help struggling households.
Primark had big news on Monday and no, it wasn’t that trading is going well (which it is). It was that the company is working on a UK launch of a trial Click & Collect service for the end of this calendar year.
Asda backer TDR Capital has poached eBay European boss Rob Hattrell. He joins the private equity firm as a partner from September. The news coincides with Asda saying its chief customer officer Meghan Farren is leaving.
N Brown began Thursday’s trading update with the positives. Citing its position as “a top 10 UK clothing & footwear digital retailer” the group said it saw continued growth in strategic product revenue.
London’s commercial property industry has hit back at a claim landlords are turning a “blind eye” to candy stores along Oxford Street. The claim comes after Westminster City Council launched a probe into 30 stores.
Prime London retail destination Regent Street faces a rise in empty stores, damaged by the post-pandemic work-from-home trend, according to the Crown Estate, as footfall levels in central London remain low.
Boohoo did something it wasn't used to on Thursday, it delivered a trading statement that showed falling sales. In the three months to 31 May, total sales fell to £445.7 million, down 8% year-on-year.