Author: Scott Dylan

Primark has partnered with the environmental NGO WRAP to extend the life of clothing.The partnership will focus on reducing textile waste through innovative solutions.It will also enhance the awareness and effectiveness of Primark’s existing takeback schemes.Behaviour Change and Yellow Octopus are contributing expertise to explore consumer habits.The initiative supports WRAP’s broader goal of promoting circular living worldwide.Primark has initiated a collaboration with WRAP, an environmental action charity, to emphasise the importance of extending the lifespan of clothing. This collaboration aligns with Primark’s commitment to sustainability and corporate responsibility.The partnership targets the reduction of textile waste by investigating innovative methods to…

Sosandar, a women’s fashion retailer, reports a significant decrease in sales during the first half of the fiscal year, despite reducing its losses.The retailer’s sales fell by 27%, dropping from £22.2 million to £16.2 million compared to the previous year.Sosandar opened its first three stores in the UK during this period, marking a strategic expansion effort.Collaborations with third-party retailers like Next, M&S, and The Iconic played a role in stabilising performance.Despite initial setbacks, the retailer remains optimistic, adjusting its full-year revenue forecast while maintaining profit expectations.Sosandar has reported a 27% decline in sales for the first half of the fiscal…

A new high-rise student accommodation is underway in Bristol’s city centre, set to become its tallest building.The new building will surpass the Castle Park View record with a planned height of 28 storeys.Cain International has acquired the site and plans with Olympian Homes for an ambitious development next to the Bearpit roundabout.Expected amenities include over 15,000 sq ft of communal facilities, enhancing student living conditions.The project aims to complete by the 2028-29 academic year, addressing the student accommodation shortfall.A new student accommodation block is on the horizon for Bristol, promising to transform its skyline as the city’s tallest edifice. The…

Government borrowing in the UK soared to £16.6 billion in September, far surpassing projections. This marks the third-highest figure for the month historically. The significant deviation from forecasts spotlights the fiscal challenges looming large over the country’s economic landscape.According to the latest data released by the Office for National Statistics (ONS), the deficit for September rose by £2.1 billion compared to the previous year. This increase underscores the mounting fiscal pressures, bringing total government borrowing to £73 billion, which is £6.6 billion over the projections made by the Office for Budget Responsibility (OBR). The debt-to-GDP ratio alarmingly stands at 98.5%,…

A recent survey highlights a growing plea from UK businesses for a reduction in Brexit-related regulatory burdens. The call for action is especially strong among small to medium-sized enterprises, seeking government intervention to ease trade complexities post-Brexit.Businesses express optimism about growth despite post-Brexit challenges. Nearly three-quarters feel confident about future prospects, yet a significant number seek government aid. Their aim? To eliminate red tape and foster seamless international trade.The Weight of Post-Brexit RegulationsThe complexity of post-Brexit regulations remains a significant concern for UK businesses. Many enterprises face cumbersome customs processes and trading licence requirements that hinder efficient international trade. Companies…

Wickes has reported an increase in sales for the third quarter, fuelled by customers completing summer projects.Retail sales for Wickes grew by 4.7% to £312.1 million, contributing to a total sales rise of 2.1% to £391.3 million.The increase was driven by customers addressing outdoor projects delayed due to adverse weather conditions earlier in the year.While DIY sales are in moderate decline, TradePro sales saw a significant rise of 16% over the quarter.Design and Installation sales experienced a drop, although there are signs of stabilisation in recent weeks.In the third quarter, Wickes witnessed a 2.1% rise in total sales, reaching £391.3…

Harrods is actively settling numerous claims of sexual misconduct against its former owner, Mohamed Al Fayed, reflecting a significant chapter in the retail giant’s history.More than 250 women have come forward with allegations following a revealing documentary.Allegations include serious accusations of sexual abuse during Al Fayed’s ownership tenure, stirring public and internal responses.New management at Harrods is committed to investigating these claims thoroughly and ensuring no current staff were involved.A distinct compensation mechanism is in place for those affected, separate from ongoing legal proceedings.Harrods, the renowned luxury department store, is currently engaged in settling over 250 claims related to sexual…

Sosandar, a womenswear retailer, has reported a significant reduction in its pre-tax losses, highlighting strategic shifts in its business approach.For the six months ending 30 September 2024, Sosandar’s pre-tax loss decreased to £0.7 million from £1.3 million in the previous half-year.The company’s revenue experienced a decrease to £16.2 million from £22.2 million, attributed to a strategic reduction in promotional activities.Sosandar opened its first three physical stores, which witnessed strong trading and contributed to increased online traffic.The retailer remains optimistic about future growth, supported by margin enhancements and strategic investments.Sosandar announced its financial results for the half-year ending 30 September 2024,…

The luxury brand Mulberry has turned down a £111 million takeover proposal from Frasers Group amid rising tensions between key stakeholders. The bid was an increased offer from an initial £83 million, aiming to acquire shares not already owned by Frasers Group.Mulberry’s board, after consulting its advisors, unanimously found the offer untenable, preferring to concentrate on boosting the company’s commercial operations.Challice, Mulberry’s major shareholder, expressed no interest in selling its shares to Frasers or committing to any offer agreements.Frasers Group, led by the owner of Flannels, has until 28 October to formalise or withdraw its acquisition intentions.A strategic focus on…

The Financial Conduct Authority (FCA) is intensifying efforts to address fraudulent activities by social media influencers in financial sectors.In a deliberate move, the FCA is interviewing 20 ‘finfluencers’ for allegedly promoting unauthorised financial products.An alarming rise in illegal financial product endorsements has been observed, targeting younger individuals through social media.Statistics show a significant portion of young adults trust financial advice from influencers, prompting regulatory concern.The FCA has issued multiple alerts and cautions to finfluencers to prevent potential risks to their followers’ finances.The Financial Conduct Authority (FCA) has initiated a concentrated crackdown on social media personalities referred to as ‘finfluencers.’ These…