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British Land snaps up 7 UK retail parks in £441m deal

British Land has acquired a portfolio of seven UK retail parks from Canadian investment giant Brookfield for £441m, boosting its position in the retail park market. The The FTSE 100 landlord will partially fund the acquisition through a proposed equity placing to raise around £300m, the Times reported. British Land CEO Simon Carter expressed...

Thu Oct 3, 2024 10:44
Sainsbury’s CEO calls for UK Budget action to boost consumer confidence

Sainsbury’s CEO has said Brits hit by the cost-of-living crisis are unlikely to resume strong spending until the new Labour government sets out its tax and spending plans, and interest rates fall further. Simon Roberts told Reuters that even with falling inflation, rising wages, and strong employment rates, UK consumers are still nervous to buy larger...

Thu Oct 3, 2024 10:14
Tesco CEO says it’s ‘in good shape’ as it raises profit expectations

Tesco has raised its profit guidance for the year after posting a 10% rise in first-half profit. The supermarket giant now expects to deliver around £2.9bn in retail adjusted operating profit, up from its previous forecast of “at least £2.8 bn”. Tesco’s retail adjusted operating profit hit £1.56bn, up 10% on the previous year while sales grew 4% to...

Thu Oct 3, 2024 09:44
JD Sports CEO shrugs off Nike’s decline as he insists sporting giant ‘will be fine’

JD Sports chief executive has dismissed concerns over Nike’s recent poor performance, insisting it “will be fine” as he said the sports giant’s struggles aren’t impacting the retailer’s performance. When questioned about the impact of the sporting giant’s troubles, Regis Schultz was unfazed, stating that JD’s multi-brand model is delivering strong...

Wed Oct 2, 2024 16:26
B&Q launches refurbished range and expands tool hire service

B&Q has launched a new refurbished tools range and expanded its tool hire service as it looks for more ways to cater to shoppers. Products under its ‘Refurbished by B&Q’ line have been sourced from customer returns and processed by the retailer’s technicians to ensure they meet ‘like new’ standards. The products, which has been component checked...

Wed Oct 2, 2024 12:54
Topps Tiles sales drop as it battles against ‘challenging’ year

Topps Tiles annual sales slipped in what it called a “challenging” year. Revenues dropped 5.7% to £248m for the year ended 28 September, excluding sales from its assets acquired from its acquisition of CTD Tiles in August. The tiles specialist said the trading environment remained challenging over the year, with “continued weak demand in the domestic...

Wed Oct 2, 2024 12:54

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