Poundland owner Pepco said sales were hit as disruption in the Red Sea delayed its summer stock getting to stores. (The Daily Mail)
Activist fund Oasis Management has become Greencore’s largest shareholder, piling pressure on the UK sandwich maker to speed up its turnaround plan after years of sluggish share-price performance. (The Financial Times £)
The pound climbed to its highest level in a year after strong economic growth cast fresh doubt over when interest rates will finally be cut (The Daily Mail). One pound now buys more dollars than at any point in almost a year (Sky News).
New EU border checks and travel for the Olympics will make the Port of Dover “exceptionally busy” this summer, its boss has warned. (The BBC)
Preparations for Sunday’s Euro 2024 final are reaching fever pitch with retailers, pubs and airlines scrambling to meet England fans’ demand for everything from beer and burgers to replica shirts and flights. (The Guardian)
Card payments at major high street shops like Asda, Sainsbury’s, and petrol stations across the UK appeared to crash yesterday morning. (Sky News)
Few companies reflect the “big is beautiful” world of American retail like Costco Wholesale Corporation. Shares in the company have returned more than 100 per cent in the past three years… Still, given that the company trades at around twice the price of the S&P 500, investors may be better off waiting for Costco’s valuation to settle back towards its five-year average before buying in. (The Times £)
Despite all of the challenges of manufacturing in the UK, GeorgeHughes-Davies, who has raised about £8m from investors to support the growth of Daily Dose, says it’s worth it. “We are the only juice company of any scale manufacturing in the UK. None of our competitors — Innocent, Naked, Mockingbird — manufacture in the UK so they don’t have any UK fruit or veg in their products, unless it’s a specific product line.” (The Times £)
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