Author: Scott Dylan

Waitrose has demonstrated a strong financial performance in the first half of the year, marked by increased profit and customer numbers.The supermarket’s operating profit rose by £75 million, alongside a 1.2% rise in gross margin.Sales experienced a steady growth of 5%, as volumes and average prices ascended simultaneously.Customer growth at Waitrose continued for the tenth consecutive quarter, adding 300,000 new shoppers.The company’s transformation plan is reportedly yielding positive results, positioning Waitrose for a strong year.Waitrose has seen a noteworthy uptick in its financial results for the first half of the year, driven by increases in both profit and customer acquisition.…

Waterstones is set to return to London’s bustling Oxford Street, marking a new collaboration with John Lewis.The bookshop will be located on the second floor of John Lewis and will open on 8 October.Approximately 20,000 books spanning fiction, non-fiction, and children’s genres will be available.Waterstones aims to provide a hub for author signings and customer guidance with its expert booksellers.The partnership aligns with John Lewis’s commitment to enhancing the customer shopping experience.Waterstones is making a notable comeback to Oxford Street through a strategic partnership with John Lewis, a move that promises to enrich the retail landscape of this busy shopping…

Boohoo faces significant challenges, including financial difficulties and operational changes, prompting scrutiny.The decision to close the US distribution centre will result in a £34 million cost.Boohoo’s closure of its UK facilities has put numerous jobs at risk, raising concerns about its strategy.The competitive landscape, with players like Shein, intensifies Boohoo’s market struggles.Debt refinancing efforts are crucial for Boohoo amidst rising financial pressures.Boohoo’s recent announcement to shut its US distribution centre, just a year after proclaiming it a “game changer,” highlights serious strategic shifts. The closure, expected to incur a £34 million cost, suggests a shift towards centralising operations to the…

Ocado has launched Ocado Ads, a retail media service aimed at enhancing brand growth and personalising customer ads.The service offers campaign planning and management tools in collaboration with Zitcha.Ocado Ads provides advertising options across various platforms, including social media and TV.It includes insights and analytics through Ocado’s Beet platform.Jack Johnson emphasises the flexibility and innovation of Ocado Ads as a significant advancement.Ocado has announced the introduction of Ocado Ads, a new retail media service designed to support brands in achieving measurable growth and offering customers personalised advertising experiences. This move represents a significant milestone in Ocado’s journey, as reported by…

Harworth signals a substantial increase in activity within the industrial and logistics sectors, with notable growth in turnover and profit.The Yorkshire-based development company’s six-month results reveal a promising future driven by strategic investments and economic stability.Harworth’s six-month results highlight a significant increase in revenues and profits. The company’s operating profit more than doubled to £21.1 million, demonstrating robust financial health. Total income surged from £18.3 million in the same period last year to £41.3 million.Harworth’s land pipeline positions the company to deliver nearly 40 million square feet of new industrial and logistics space. Additionally, over 25,000 plots for new homes…

The retail sector faces significant challenges with a daily average of 38 store closures during 2024, based on PwC data.A total of 6,945 retail outlets have shuttered their doors so far this year, surpassing previous years’ closure rates.New store openings have increased modestly, yet they do not keep pace with the number of closures.Value and convenience retailers are experiencing some growth, showing resilience amidst the challenging environment.Constructive solutions from stakeholders are essential to revitalise struggling high streets.New data from PwC highlights a concerning trend for the retail industry in 2024, with an average of 38 stores closing each day. This…

The John Lewis Partnership reveals positive half-year results, indicating the success of its ongoing transformation.John Lewis Partnership reduces its pre-tax loss from £59m to £30m.Excluding exceptional items, losses are down significantly from £57m to £5m.Sales for the first half of the year reach £5.9bn, with Waitrose sales rising by 5%.John Lewis expects a substantial increase in full-year profits, driven by strategic initiatives.The John Lewis Partnership has reported encouraging financial outcomes for the first half of the year, showcasing the initial success of its transformation plan. The retailer managed to reduce its pre-tax loss to £30 million from the previous £59…

Hunter Price International has inaugurated its first headquarters in China.The move follows closely on the heels of their recent acquisition of BargainMax.co.uk.Strategic Expansion in NingboHunter Price International has made a significant strategic move by opening its first headquarters in the Far East, located in Ningbo, Zhejiang province. This decision, described by the company as a substantial investment, is aimed at securing new partnerships within the region.The new base features a showroom dedicated to the company’s product development efforts. This showroom will serve both global partners and Hunter Price’s own brands, thereby enhancing collaboration and innovation.Enhancing Customer and Stakeholder ExperiencesAllana Holmes,…

Smart energy technology firm Gridimp has garnered £250,000 from the British Business Bank to fuel its growth. The Wells-based company provides innovative solutions aimed at optimizing energy usage for businesses.Gridimp’s state-of-the-art tools enable real-time energy monitoring and leverage artificial intelligence to help clients engage in flexible energy markets, thereby enhancing cost efficiency. This recent funding will support their ambition to expand operations, hire additional staff, and relocate to a more suitable office space.Innovative Funding for Smart Energy SolutionsGridimp has recently secured £250,000 in debt funding from the British Business Bank’s South West Investment Fund. This initiative underscores the potential of…

The Future West Foundation has unveiled its leadership team to spearhead efforts in bridging businesses and universities in the West of England. Sir Iain Gray has been named as chair, joined by Andrea Dell as director.This initiative seeks to catalyse sustainable growth by addressing the unique challenges of the South West through research and policy innovations, enhancing the region’s economic potential.Leadership Team UnveiledIn a significant development, the Futures West Foundation for Sustainable and Inclusive Economic Growth has announced its leadership team. Sir Iain Gray, a distinguished figure in the aerospace sector, has been appointed as chair, while Andrea Dell assumes…