Author: Scott Dylan

Boots UK has reported a significant increase in sales for the year ending 31 August 2024, attributed largely to online and makeup sales.The company’s year-on-year turnover rose by 6.9%, showcasing notable growth in various segments.Digital sales experienced an impressive surge of 18.7%, reflecting a shift in consumer purchasing behaviour.Sales of makeup products increased by almost 15%, supporting the overall financial uplift reported by the company.Increased demand within the health and beauty sectors, alongside strategic preparations for Christmas, has fortified Boots’ market position.Boots UK has achieved notable financial growth for the fiscal year ending on August 31, 2024, as evidenced by…

Currys has revamped its credit offerings in response to rising demand for flexible payment options.Customers can now spread their purchase costs through fixed monthly payments or a ‘buy now, pay later’ scheme.The updated ‘flexpay’ service, previously known as ‘Your Plan’, offers improved credit balance visibility.Electric goods buyers using flexpay contributed to £1 in every £5 spent, surpassing credit card usage.The flexpay system is supported by BNP Paribas Personal Finance, providing low rate and interest-free credit options.Currys has effectively responded to the escalating consumer demand for adaptable payment solutions by overhauling its existing credit services. Recognising the shifting consumer preferences, the…

The third quarter of 2024 marks a sharp decline in UK startup funding, the lowest in five years.British startups garnered approximately $2.9 billion in venture capital in Q3, reflecting a 50% decrease from the prior quarter.Despite the dip, the fintech sector remains the most funded, with $3.3 billion secured so far this year.Health tech follows closely with notable investments, riding high in second place within UK tech funding sectors.Overseas investments played a significant role, making up around 70% of VC funds, the third highest in a decade.The third quarter of 2024 has proven challenging for UK startups, witnessing the most…

Morrisons is significantly expanding its collaboration with Uber Eats, integrating over 400 additional supermarkets into the platform.This expansion builds on the existing partnership with Morrisons Daily stores, enhancing the retailer’s rapid delivery services.Customers will have access to a wide range of products, including essentials and fresh produce, with competitive pricing.Uber Eats’ efficient technology ensures deliveries in less than 30 minutes, responding to rising grocery delivery demands.Morrisons aims to bolster its omnichannel strategy, adapting to shifting consumer preferences.Morrisons is set to substantially broaden its partnership with Uber Eats by incorporating more than 400 new supermarkets into the delivery platform in the…

Poundstretcher has strategically enhanced its team by recruiting top executives from Morrisons.Fortress, Poundstretcher’s new owner, continues to bolster its leadership.Andy Atkinson, former Morrisons director, leads this transformative effort as CEO.Miles Foster joins as operations director with over three decades of experience.The recruitment aims to support and expand Poundstretcher’s growth and operations.Poundstretcher has strategically recruited experienced executives from Morrisons to strengthen its commercial and store operations teams. This move comes months after the acquisition by private equity firm Fortress, which appointed Andy Atkinson, the former commercial director of Morrisons, as CEO.Andy Atkinson, bringing extensive expertise from his tenure at Morrisons, leads…

Bringing a twist to Tesco’s meal deal, Itsu is now offering premium sushi, starting 21 October.Shoppers can enjoy Itsu’s renowned dragon roll sushi as part of Tesco’s £5 meal deal.The sushi selection outpaces traditional favourites as the fastest-growing lunchtime choice in the UK.Innovative packaging ensures a cleaner, spill-free dining experience for consumers.Tesco expands frozen options with Itsu’s new dumplings and veggie snacks, enhancing meal versatility.From 21 October, Itsu’s dragon roll sushi will be a part of Tesco’s £5 meal deal, marking a significant addition to their lunchtime offerings. This initiative allows shoppers to indulge in a variety of sushi options,…

Recent data reveals a complex landscape for the UK labour market.The employment rate for individuals aged 16 to 64 rose to 75%.Despite increased employment, pay growth has noticeably decelerated.Average regular earnings grew by 4.9%, while total earnings, including bonuses, increased by 3.8%.Vacancy rates have decreased but remain above pre-pandemic levels.Recent findings from the Office for National Statistics (ONS) indicate a significant shift in the UK’s labour market dynamics. The employment rate for people aged 16 to 64 has increased to an estimated 75%, reflecting both an annual rise and a quarter-on-quarter improvement. However, accompanying this positive trend is a marked…

Victorian Plumbing announces the closure of Victoria Plum due to financial losses.The decision follows nearly £2m loss incurred after acquiring Victoria Plum.Operations to cease by 31 December following a consultation with the workforce.Despite challenges, Victorian Plumbing anticipates meeting its adjusted EBITDA expectations.The retailer continues to experience growth through robust customer demand and internal transformations.Victorian Plumbing has announced its decision to shutter rival bathroom retailer Victoria Plum, which it acquired in May, after suffering a financial setback of almost £2 million. The company confirmed plans to halt all operations by 31 December, following the completion of a consultation process involving the…

A potential rise in employer National Insurance has been hinted at by Chancellor Rachel Reeves, despite maintaining party commitments.Businesses may face increased National Insurance contributions as part of the upcoming Autumn Budget.Chancellor Rachel Reeves reassures that any changes will uphold Labour’s promise not to increase taxes for workers.The British Retail Consortium reports declining consumer confidence ahead of the anticipated budget announcement.Reeves will present the government’s first Budget on 30 October, amid economic concerns.Chancellor Rachel Reeves has strongly suggested that business owners might soon find themselves contending with elevated National Insurance contributions, even as she maintains the Labour Party’s commitment not…

Footasylum has made strategic hires to fortify its executive team.Will Van Rensburg, an ex-Under Armour executive, joins as Chief Commercial Officer.Glen Wilkinson, formerly with Reebok, takes on the role of Senior Buying Director.These appointments are aimed at strengthening Footasylum’s market position.Footasylum has recently secured significant funding to support growth.In a strategic move to bolster its leadership, Footasylum has appointed two esteemed executives with extensive experience in the sportswear and fashion industry. Will Van Rensburg, formerly with Under Armour, steps into the role of Chief Commercial Officer, bringing nearly eight years of expertise. His tenure as Global Commercial Director at Under…