Author: Scott Dylan

Boden asserts its recovery is progressing well despite a significant increase in losses for the past year.The retailer reported a substantial £9.4m loss, more than doubling the previous year’s £3.9m loss.Sales fell by 13% to £304.5m, notably due to a performance downturn in late 2022 and early 2023.Strategic changes in leadership and marketing have begun showing results, boosting sales and profitability in 2024.A strong surge in womenswear and reduced discounting have improved margins, signaling a return to profitability.Boden, the clothing and lifestyle retailer, has communicated a positive outlook regarding its ongoing recovery, despite revealing that its losses more than doubled…

Victims of the HBOS scandal are eagerly awaiting the long-delayed report by Dame Linda Dobbs. Initial expectations were for a swift review, but the process has dragged on for years.The inquiry investigates whether Lloyds Banking Group covered up a £1 billion fraud linked to the Reading branch of HBOS. Many victims are growing increasingly frustrated with the delays.Background of the ScandalDame Linda Dobbs was appointed in April 2017 to examine Lloyds’ response to the HBOS fraud. The fraud involved bankers and consultants exploiting reckless credit policies, collapsing several small and medium-sized businesses.Six people were jailed in 2017 for their roles…

Investors are keenly observing the performance of Next, particularly anticipating a potential upgrade in the company’s sales guidance.Next reported a 4.4% increase in full-price sales for the first half of the fiscal year.The retailer has maintained its full-price sales guidance for a 2.5% increase in the second half.A recent update showed an uplift in profit guidance by £20m, attributed to stronger sales and logistics cost savings.Analysts speculate that recent trading could prompt an upward revision of the current sales guidance.Investors are closely monitoring Next’s financial trajectory as the retailer prepares to release its half-year results. The focus is on whether…

Netcall has expanded its reach into Europe through the acquisition of Parble, a Belgian firm specialising in generative AI-driven document processing, for €10 million.The acquisition is set to bolster Netcall’s Liberty platform with advanced intelligent business processing technology suitable for rapid integration.This strategic move not only extends Netcall’s influence in the insurance sector but is also anticipated to enhance its earnings immediately in terms of adjusted earnings per share.Netcall has welcomed the expertise of Parble’s team, recognising the mutual benefits of cross-selling opportunities and digital transformation capabilities.The transaction involves a consideration of up to €8.7 million with a net debt…

Retailers in London’s West End faced a potential £220 million loss in sales due to the absence of tax-free shopping for tourists, according to new data.The New West End Company reports the financial impact could surpass last year’s £400 million loss.The decision to end tax-free shopping for overseas tourists was made in 2021.The retail sector has been actively advocating for the return of tax-free shopping incentives.Upcoming budget discussions are expected to address these economic challenges.Retailers in the West End of London are struggling with a significant economic impact due to the elimination of tax-free shopping, a policy decision made in…

The talent-search series ‘Dress The Nation’ partners with Marks & Spencer and ITV, showcasing diverse contestants vying for a design role.Contestants range in age and background, exemplifying the opportunity within the retail industry for those without formal design training.Marks & Spencer’s CEO, Stuart Machin, reflects on his own career progress and the vast potential within retail.The retailer’s commitment to innovation is evident in its transformative initiatives, including a £480m store modernisation program.Despite current economic challenges, Marks & Spencer remains optimistic about future growth, with a focus on essential and trusted categories.The launch of ‘Dress The Nation’, a talent-search series created…

Boeing CEO Robert Ortberg has recently come under fire for purchasing a $4.1 million mansion in Seattle while the company’s workers continue their wage strike. The discontent among Boeing’s workforce has been amplified by this move, highlighting the widening disparity within the company.This development follows the rejection of a new contractor offer by an overwhelming majority of union members. Now, more than 33,000 Boeing factory workers are demanding a 40% pay raise, adding further tension to an already strained situation.Ortberg’s Recent PurchaseRobert “Kelly” Ortberg, who assumed the role of CEO in August, purchased the mansion in a gated community in…

Linda Yaccarino, the CEO of X, has strongly criticised the Associated Press (AP) for publishing an article advising users on how to exit the platform.The irony of the AP promoting this article on X was not lost on Yaccarino or the platform’s users.Linda Yaccarino’s ResponseLinda Yaccarino took a public jab at the AP by sharing their article titled ‘How to Leave X’ on X itself. Her post included a light-hearted comment: ‘And yet… you’re still here!’ This remark underlined the paradox of using a platform while advising others to leave it.Yaccarino’s reaction ignited a discussion among X users, many of…

A flooring specialist has become the newest tenant in a £6 million industrial project, marking a significant development at the former Lucozade factory site in Walkden.The commercial and industrial property firm Towngate has leased three new units at the Walkden scheme, including two taken by flooring distributor Likewise Floors.New Tenant Welcomed at Industrial SchemeThe former Lucozade factory site in Walkden has been transformed into a modern industrial centre, attracting new tenants to its premises. Towngate has successfully leased three units in this newly developed area, with the renowned flooring distributor Likewise Floors becoming a key occupant. The Walkden scheme is…

Plant-Ex Ingredients is set to enter the US market after receiving a significant £9 million investment from BGF. This Bristol-based company specializes in natural food colours, extracts, and flavours.The investment follows the expansion of Plant-Ex’s production facility in Bristol, which now boasts double the capacity of its previous site. This development is part of the company’s broader strategy for international growth, focusing on the American market.Investment and Expansion PlansPlant-Ex Ingredients, founded in 2010, has secured a £9 million investment from BGF aimed at driving its expansion into the US. This strategic decision follows the recent enlargement of its Bristol facility,…