Author: Sam Allcock

Iceland is embroiled in a complex legal battle over its trademark in the European Union.The supermarket is appealing against an EU decision stripping its trademark rights on ‘Iceland’.This marks the third phase in a prolonged eight-year legal tussle involving the Icelandic government.The dispute affects the retailer’s exclusive rights to use ‘Iceland’ in EU marketing.Despite the legal challenges, the company’s operations in the EU remain unaffected.The legal battle between the Iceland supermarket chain and the Icelandic government has reached a new phase as the retailer appeals an EU ruling. This ruling previously revoked trademark protection for the word ‘Iceland’, which the…

Evoke Group, parent company of William Hill and 888, sees revenue growth amidst challenges.The firm’s third-quarter update reveals a revenue of £417m, despite a significant dip in its gambling unit.An 8% overall revenue increase was achieved, highlighting success in core European markets.Cost-cutting and strategic plans under Per Widerstrom’s leadership are credited for this turnaround.The company projects a 5-9% revenue growth in the second half, with improved EBITDA margins.Evoke Group, the parent company of William Hill and 888, reported a notable revenue increase in its latest third-quarter trading update. Despite facing a 13% decrease in its gambling unit, the company posted…

UK retail sales experienced an unexpected rise in September, contrasting with analyst forecasts. This occurred despite the backdrop of economic challenges and looming tax increases.According to data from the Office for National Statistics (ONS), retail transactions saw a 0.3% growth in September, building on the previous month’s strong performance. Though analysts had anticipated a decline, the actual figures indicated a market resilience driven by increased spending on technology.In September, the UK retail sector experienced a 0.3% increase in sales, defying the anticipated 0.4% decline. This follows a strong 1% rise in August, marking significant resilience in the sector. Technology equipment…

The potential shift in policy regarding salary sacrifice tax breaks for electric vehicles is generating significant discussion across various sectors. Industry leaders and financial analysts are closely monitoring developments as the government evaluates the potential impacts on both economic equality and environmental goals.Rachel Reeves’ considerations to modify or eliminate these tax breaks are driven by arguments of disproportionate benefits to higher earners. As the automotive industry awaits clarity, stakeholders are analysing potential consequences for the UK’s broader decarbonisation efforts.Potential Cessation of Tax BreaksThe potential removal of salary sacrifice tax breaks for electric vehicles has sparked significant debate in the industry.…

In September, UK retail sales exceeded expectations amid high demand for new technology.Sales in technology and telecommunication surged by over a third, driven by new product launches.The Office for National Statistics reported a 0.3% rise in retail sales volumes, surpassing forecasts.Clothing and footwear sales increased as cooler weather prompted seasonal wardrobe updates.The British Retail Consortium noted growth was slower but maintained a positive outlook.In a surprising development, UK retail sales defied forecasts in September, driven notably by a burgeoning demand for new technology. The sector experienced a remarkable uptick, particularly in technology and telecommunications, with sales increasing by over one-third.…

Amid efforts to enhance operational efficiency, Sainsbury’s is piloting larger self-checkout systems.The hybrid self-checkouts incorporate conveyor belts and designated bagging areas for customer convenience.Initially rolled out in two stores, these systems aim to accommodate full trolleys, resembling traditional checkouts.CEO Simon Roberts emphasises the initiative as a choice expansion rather than a total replacement of manned checkouts.Complementary to this, Sainsbury’s trials touchscreens for aisles navigation, part of a broader cost-reduction strategy.Sainsbury’s has embarked on a new initiative, testing larger self-checkout tills with the intent of replacing some human cashiers. This move comes as part of a broader strategy to enhance store…

Boohoo CEO John Lyttle resigns following a significant decline in overseas sales.Overseas sales drop by 18% in the US and 21% in other regions.Boohoo’s revenue struggles against rival Chinese firm Shein.New financial strategies include securing a £222m debt facility.Exploration of strategic options to enhance shareholder value is underway.John Lyttle, the CEO of Boohoo, has announced his resignation after the company reported a substantial decline in its overseas sales. This exit comes as the British e-commerce giant grapples with financial challenges, including a significant fall of 18% in the US markets and 21% in other regions outside the UK.During Lyttle’s five-year…

Boohoo Group CEO John Lyttle will step down as the company secures a strategic £222 million refinancing deal.This financial arrangement includes a £125 million revolving credit line and a £97 million term loan.The refinancing is intended to enhance Boohoo’s financial position by reducing interest costs.The company plans to undertake a review to optimise shareholder value across its divisions.Despite a recent decline in revenues, Boohoo expects improved financial performance in the next fiscal period.Boohoo Group has announced the upcoming departure of its CEO, John Lyttle, coinciding with a significant financial development. The company has secured a £222 million refinancing agreement, a…

Plans for a new hotel near Everton’s new stadium have been revealed, marking a significant development in the city’s landscape.Liverpool Council will review plans for an 80-bed, five-storey hotel near Everton’s Bramley-Moore Dock.The development involves converting a Grade II listed mill into a 32-room facility, with 48 additional rooms in a new structure.The project aims to preserve the historical aspects of the site, including its unique architectural features.Approval is anticipated to bolster local regeneration efforts, enhancing the attractiveness of the area.Plans have emerged for a new hospitality facility near Everton’s recently inaugurated stadium at the Bramley-Moore Dock. Liverpool Council’s planning…

Hobbycraft has announced a considerable decline in profits, despite notable sales growth and improved margins.The company’s profits plunged by 80%, amounting to £393,000, influenced by inflationary challenges and one-off costs.Sales increased modestly by 3.4% to £218.3m with like-for-like sales rising 1.1%, reinforcing revenue growth.Strategies like enhanced online services and new store openings are pivotal, despite the profit concerns.Future outlook remains positive as Hobbycraft focuses on capitalising on consumer sentiment recovery.In a surprising financial disclosure, Hobbycraft revealed an 80% decrease in profits, culminating in £393,000 for the financial year ending 18 February 2024. This stark drop from the previous year’s £2…