Author: Scott Dylan

Amidst a challenging economic landscape, high street retailer The Works has reported a significant downturn in profits for 2024.The company encountered substantial obstacles, including cost pressures and diminished consumer demand, particularly during the crucial Christmas trading period.Financial Performance and ChallengesThe Works experienced a significant decline in profits for the financial year 2024, with adjusted earnings before interest, tax, depreciation, and amortisation dropping by 30% to £6 million from £9 million in the previous year. Additionally, the retailer’s adjusted profit before tax fell by 39% to £3.2 million, down from £5.3 million in 2023.Despite the revenue challenges, the company managed to…

Following a bold $25 million initiative, a major grocery chain aims to slash prices on over 200 essential items.The retailer’s commitment to providing long-term value could reshape the competitive landscape of the grocery sector.Massive Price ReductionsIn a remarkable bid to offer the lowest possible prices, the retailer is reducing costs on more than 200 grocery items. The price cuts, effective from September 30, will see reductions of at least 20% across the board, with some items slashed by as much as $2.This initiative, aimed at helping families manage their budgets, focuses on staple items that are essential for everyday meals.…

Concerns have emerged over the recycling practices of major UK supermarkets, Tesco and Sainsbury’s.Investigations revealed that certain recyclable materials were not dealt with as expected by consumers.Tracking devices highlighted the distance travelled by waste, raising questions about the efficiency of recycling.Reports show a significant portion of waste was either incinerated or downcycled overseas.Campaigners argue that the initiative distracts from the critical issue of excess plastic production.A recent investigation has raised questions about the integrity of recycling schemes operated by Tesco and Sainsbury’s. It was found that a substantial amount of plastic waste deposited at their collection points was not recycled…

Mulberry has rejected an £83 million takeover offer from Frasers Group, citing future value concerns.Challice, Mulberry’s majority shareholder, expressed no interest in backing the potential offer from Frasers Group.Frasers Group had proposed a cash offer of 130p per share, representing a 30% premium on the subscription price.Mulberry’s board claimed that the offer did not reflect the substantial future potential value of the company.Following the rejection, Mulberry’s share price rose to 121p, up from the previous closing of 118p.In a significant business development, the British luxury brand Mulberry has declined an £83 million cash offer from Frasers Group. According to Mulberry,…

PUMA is utilising TikTok’s social commerce to enhance brand storytelling and sales.Social commerce is projected to double in value, reaching nearly £16bn by 2028.PUMA’s successful strategy involves effective affiliate partnerships and engaging TikTok LIVE shopping.The conversation with TikTok UK highlights key insights into PUMA’s approach.PUMA’s practices raise the question: is social commerce beneficial for all brands?In a rapidly evolving retail landscape, PUMA has capitalised on TikTok’s platform to effectively engage customers through social commerce. This approach not only enhances brand storytelling but also fosters direct-to-consumer relationships, driving incremental sales.According to Retail Economics, the value of social commerce is expected to…

The plant-based industry is witnessing a significant transformation.Mimic meat brands are experiencing a notable decline in demand.Natural plant-based products continue to show robust growth.Market predictions for meat mimics were overestimated by investors.Some companies are facing financial difficulties due to these trends.The plant-based industry is undergoing a noticeable change, marked by a substantial decline in the demand for mimic meat products. This trend highlights a shift in consumer preferences and market dynamics.Mimic meat brands, which were once considered a burgeoning segment, are encountering reduced consumer interest. This decline is attributed to initial overestimations of market size by investors, leading to adjustments…

Greggs sees a notable sales increase, driven by new menu items and extended opening hours.The bakery chain reports a total sales increase of 10.6% in the recent quarter.There has been a 5% rise in like-for-like sales, attributed to menu and trading hour changes.Greggs has expanded evening operations, with over 1,200 branches open past 7pm.The company remains optimistic despite economic challenges, maintaining its full-year guidance.Greggs, a prominent bakery chain, has reported a significant rise in sales for the last quarter, driven by strategic changes in its operations. The company experienced a 10.6% increase in total sales, with like-for-like sales rising by…

The company has announced the recruitment of more than 15,000 staff to assist with customer service during the festive season. This massive hiring initiative will take place across various locations in the UK.The new roles will have a starting pay rate of £13.50 per hour, which can go up to £14.50 depending on the location. The aim is to enhance customer experience during the busy holiday period.Significant Seasonal HiringThe company’s decision to hire more than 15,000 seasonal workers is a strategic move to ensure smooth operations during the high-demand festive season. These positions will be distributed across multiple centres and…

Luxury fashion brand Mulberry has declined an £83 million takeover bid from Frasers Group, led by Mike Ashley.Mulberry has indicated it will proceed with a planned capital raise instead of accepting the offer.Reasons for RejectionMulberry has chosen to reject the takeover proposal from Frasers Group, stating that the bid “does not recognise the company’s substantial future potential value”. The company has engaged in discussions with its majority shareholder, Singapore-based Chalice, which is controlled by billionaire Ong Beng Seng and his wife Christina.Trust has been placed in Andrea Baldo, the newly appointed chief executive, to drive the company’s turnaround. The decision…

The Works has reported stable sales but a decline in annual profits, navigating a difficult consumer environment with optimism for the festive season.Profitability decreased as adjusted EBITDA reduced from £9m to £6m due to challenging Christmas trading and rising costs.Strategic steps to enhance product margins and cut costs have positioned the company for expected EBITDA improvement in FY25 to £8.5m.Sales showed a modest increase of 0.9% to £282.6m, with a dip of 0.9% in like-for-like sales.Store sales accounted for 90% of revenue, slightly increasing by 0.6%, while online sales dropped by 12.4%.The Works, a well-known value retailer, faces a competitive…