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...

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...

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...

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...

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...

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...