Author: Sam Allcock

Sosandar, a women’s fashion retailer, revises its sales forecast, while cutting back on discounts to maintain profitability.The company’s pre-tax loss improved to £0.6m in the first half of the year, compared to a £1.3m loss previously.Revenue dropped from £22.2m to £16.2m, attributed to a shift away from regular discounts, sticking only to major sale events.Despite the reduction in revenue, Sosandar remains committed to achieving a medium-term pre-tax profit of at least £10m.The opening of three new retail stores shows positive results, contributing to increased website traffic and in-store success.Sosandar has strategically revised its sales outlook for the year, reducing the…

Amidst economic challenges, Shoe Zone reported a 42% drop in annual profit, attributed to poor consumer demand and heightened operational costs.Revenue experienced a slight fall of 2.7%, totalling £161.3 million for the fiscal year ending September 28, 2024.Share prices for Shoe Zone reflected market concerns, plummeting over 10% in early trading, and marking a nearly 19% decline across the past month.Store adjustments saw a net reduction of 26 outlets, with closures, openings, and refurbishments shaping the retail landscape.A restructuring of digital offers, including free next-day delivery, supported a positive ‘Back to School’ trading period, outperforming prior year results.In the face…

Mulberry has rejected an increased takeover offer from Frasers.The revised £111 million bid by the Sports Direct owner was deemed untenable.Majority stakeholder Challice remains uninterested in selling its stake.Mulberry aims to focus on enhancing its business performance.Frasers, holding a significant stake, must decide on a firm offer by October 28.The Somerset-based luxury brand, Mulberry, has turned down an enhanced bid of £111 million from Frasers, marking it as the second such proposal to be declined. The increasing tension between Mulberry’s key shareholders, particularly between the company’s board and its largest stakeholder, Challice, remains evident. Mulberry, having evaluated the offer in…

As the UK approaches its Autumn Budget, business confidence has plummeted to a twelve-month low. Widespread apprehension prevails among industries, driven by potential tax hikes and fiscal challenges, underscoring the fragile state of the nation’s economy.The Institute of Chartered Accountants in England and Wales (ICAEW) reported a significant drop in confidence from 16.7 in the second quarter to 14.4 in the third. This downturn illustrates growing unease among businesses amid an increasingly uncertain economic outlook.Recent economic data and insights from Prism’s upcoming SME Barometer reveal a pessimistic outlook, with a marked decline in business sentiment. The ICAEW index highlights this…

Frozen waffle products from several major brands have been recalled due to potential listeria contamination. TreeHouse Foods, the producer, has issued a voluntary recall alert.The recall encompasses products sold under store labels such as Kodiak Cakes, Walmart, and Target. Consumers are advised to check their freezers and discard or return affected products. The announcement is part of ongoing food safety measures.In a significant safety alert, TreeHouse Foods has announced a recall of numerous frozen waffle products over concerns of possible listeria contamination. The recall affects popular brands including Kodiak Cakes, Publix, Food Lion, Walmart, and Target. Consumers are urged to…

Pure Pet Food, a growing name in the pet food industry, has secured £15m in new investments, marking a pivotal moment in its development.The investment round was spearheaded by Felix Capital, known for backing consumer success stories, with the participation of Mercia Ventures.Founded in 2013 by friends Daniel Valdur Eha and Mathew Cockroft, the company started with a £300 loan and has expanded significantly.Pure Pet Food’s innovative approach focuses on natural and healthy dog food alternatives to traditional kibble, gaining popularity in the UK.With the additional funds, the company aims to grow its presence in the UK and explore international…

Asda has strategically recruited two new senior leaders to bolster its growth ambitions for 2025.Lauren Lepley, a former Morrisons vice president, is set to join Asda in December, bringing extensive experience from her tenure at Tesco and Morrisons.Mark Henry, previously M&S’s group director of asset protection, will begin his role as vice president retail south at Asda in January.Both hires will report to Matt Heslop, the incoming chief operations officer, also starting in January.Lord Rose, Asda’s chairman, emphasised the value of these appointments to achieve operational excellence and long-term growth.Asda has announced the appointment of two seasoned professionals to senior…

Newcastle Racecourse has witnessed a remarkable rise in profitability as more spectators attend the races, despite economic pressures.The racecourse’s turnover increased significantly, rising from £20.3 million in 2022 to £22.2 million in 2023.Operating profits experienced a substantial leap, quadrupling from £478,069 to £1.97 million.The number of race meetings and events has expanded, contributing to the growth in revenues.Directors are optimistic about future prospects, highlighting increased disposable incomes and improved economic conditions.Larger numbers of spectators are flocking to the races despite cost-of-living challenges, helping to drive up profits at Newcastle Racecourse, latest accounts show. Turnover rose from £20.3 million to £22.2…

Vinyl records are making a comeback at WH Smith stores across the UK.The retailer will stock vinyl in 80 stores to tap into growing interest.Vinyl sales rose by 11.7% in 2023, reaching six million units.New releases from popular artists have boosted vinyl’s popularity.WH Smith aims to rejuvenate its store offerings through this move.In a move aimed at capturing a resurgent interest in vinyl records, WH Smith has announced the return of vinyl to its shelves in 80 high street locations. The prominent retailer, headquartered in Swindon, seeks to capitalise on the growing fascination among younger audiences who are increasingly drawn…

Aldi is implementing new packaging reflecting updated stocking densities for fresh chickens, underscoring its commitment to animal welfare. From 30 October, Aldi will provide shoppers with labels highlighting these welfare improvements. Fresh chickens will have 20% more space than industry norms, continuing Aldi’s proactive animal welfare stance. This follows the retailer’s initiative to go cage-free ahead of schedule. Aldi is one of the UK’s major chicken suppliers, contributing to higher welfare standards.Aldi is set to introduce revised packaging for its fresh chicken products, which will reflect updated stocking density guidelines. This strategy aligns with Aldi’s ongoing commitment to improving animal…