Author: Scott Dylan

Matalan has enhanced its product range, introducing 20 new brands to its third-party collection.This addition marks the third expansion since December 2023, indicating a positive reception by consumers.New brands encompass various categories including womenswear, menswear, and homeware.Prominent names such as French Connection and AX Paris are part of this expansion.Matalan aims to become a comprehensive shopping destination by diversifying its offerings.Matalan, a renowned value clothing and home retailer, has strategically broadened its product line by incorporating 20 new third-party brands into its collection. This latest enhancement underscores Matalan’s commitment to meeting consumer demand for variety and novelty in their shopping…

Celebrated British brand, Barbour, is opening its first standalone store in Leeds this summer.The new store will be located at Victoria Quarter, a hub for high-end British and independent brands.Spanning two floors, the shop will reflect Barbour’s tradition with industrial design elements.Victoria Leeds’ leasing director highlights the area’s proven customer loyalty and premium appeal.Barbour’s Leeds store will feature classic men’s and women’s heritage collections.Barbour, renowned for its British heritage and lifestyle offerings, will inaugurate its first standalone store in Leeds this summer at the prestigious Victoria Quarter. This move marks a significant expansion outside London, setting up shop at a…

Reeves hints at significant wage increases for public sector workers, potentially creating an £8 billion fiscal gap.Pay review bodies have advised a 5.5% salary rise for teachers and NHS staff.Conservative ministers delayed action on these recommendations until after elections.Former Chancellor Jeremy Hunt’s modelling estimated an additional £8 billion cost if wage recommendations are implemented.Reeves criticised the previous government’s inaction during an interview on BBC.Two pay review bodies have recommended a 5.5% wage increase for 460,000 teachers and 1.4 million NHS staff under the ‘agenda for change’ framework. These recommendations were submitted prior to the elections, but Conservative ministers deferred any…

The UK government is making a significant investment to boost sustainable aviation. This initiative will support key aerospace projects focused on emission reductions and advanced technologies.£103 million allocated to green aerospace projects through the Aerospace Technology Institute Programme.Projects led by industry leaders including GKN Aerospace, Queens University, Rolls-Royce, Short Brothers, and ZeroAvia.Initiatives aim to foster innovations in zero emission hydrogen-powered flight and advanced turbine technologies.Thousands of high-skilled jobs expected to be created, enhancing the UK’s position in global aerospace innovation.The UK government has announced an investment of £103 million towards green aerospace projects, delivered via the Aerospace Technology Institute (ATI)…

In a strategic move, Frasers Group has acquired Northampton-based independent retailer Thackerays, enhancing its hold on the premium fashion sector.Thackerays, operational since 1972, is known for selling premium men’s and women’s fashion on Wellingborough Road, Northampton.Frasers Group’s acquisition aligns with its recent trend of acquiring independent fashion retailers including Aphrodite, John Anthony, and Zee & Co.The group’s financial performance shows a dip in revenue, with a £12.5 million loss from the previous acquisition of Matches.Frasers Group has not publicly commented on the acquisition, keeping their strategy under wraps.The acquisition of Thackerays by Frasers Group marks a significant addition to its…

More than half of the UK’s mid-sized companies are preparing for substantial investments aimed at growth over the next five years.A recent survey revealed that 51% of mid-sized firms plan to invest over £3 million each in growth initiatives.Nearly two-fifths of these companies intend to focus their investments domestically, underscoring strong UK growth ambitions.The survey also highlighted a need for new investment capital, with 24% of firms seeking funding from various sources this year.Optimism among these businesses serves as a positive indicator for the new Labour government, which prioritises economic growth.A survey involving 500 companies with annual revenues between £10…

As the potential for increased capital gains tax looms under a Labour government, UK business owners are hastening to sell their companies. Key developments include:The number of mergers and acquisitions surged by 71% by the end of the first quarter of 2024.Business owners are worried about capital gains tax increases under the prospective Labour budget.Entrepreneurs are expediting sales due to reduced business asset disposal relief.Improved bank financing and falling inflation are further driving business sales.The decline in the number of companies on London’s junior stock market raises additional concerns.According to accountancy firm Lubbock Fine, the number of mergers and acquisitions…

Procurement is undergoing a seismic shift thanks to Artificial Intelligence (AI). In today’s fast-paced business environment, AI is not a mere trend but a transformative force in procure-to-pay (P2P) processes.From reducing costs to improving decision-making, AI is redefining how businesses manage procurement. The promise of enhanced efficiency and streamlined workflows is becoming a reality, setting new benchmarks in the industry.Challenges in Traditional Procure-to-Pay ProcessesTraditionally, procure-to-pay (P2P) has been riddled with inefficiencies such as manual data entry, delayed approvals, and fragmented systems. These challenges not only inflate operational costs but also disrupt procurement efficiency. With numerous touchpoints and stakeholders involved, the…

British casualwear brand Cotton Traders has reported a decrease in both turnover and profit for the 2023 financial year, highlighting the impact of economic challenges.Operating profit fell by 9.9% to £9.8 million, compared to the previous year, marking a significant decline in performance.Total turnover experienced a 1.7% drop, reaching £109.4 million, as the company navigated through a challenging market environment.Despite the dip in overall performance, online sales saw a significant increase, with womenswear being a standout category.The company plans to focus on expanding its marketplace strategy, leveraging new platforms for growth.In the 2023 financial year, Cotton Traders reported an operating…

June retail sales experienced a decline due to multiple factors impacting consumer spending.Retail sales fell by 1.2% in June, with textile, clothing, and footwear sales decreasing by 1.6% according to ONS figures.Election uncertainty, poor weather, and reduced footfall were cited as key contributors to the decline in sales.Despite a previous increase in May, the quarter saw a 0.5% fall in non-food store sales, and online sales for textiles, clothing, and footwear dropped by 5.4%.Average regular earnings growth in the UK slowed, while inflation indicators presented mixed results, affecting consumer purchasing power.Retail sales experienced a contraction of 1.2% in June, as…