Author: Scott Dylan

Danish fashion company Bestseller reports an 8% profit rise amidst revenue drop.Total revenue declined by 4% year-over-year, primarily due to online sales decreases.Efficiency in logistics contributed to a rise in EBIT to DKK 5.3bn (£590m).Over 330 new retail stores were opened, with a 5% sales increase in retail channels.Sustainable material investments to be enhanced, including organic cotton and recycled polyester.Danish fashion group Bestseller has reported an 8% increase in profits, despite a notable decline in top-line revenues. The company’s revenue fell by 4% compared to the previous year, amounting to DKK 35.6 billion (£3.99 billion). This decline was primarily driven…

In the aftermath of Helene, residents in Asheville found themselves stripped of modern conveniences. The power outage prompted a return to grassroots communication.Residents resorted to face-to-face conversations, sharing vital information about supplies and safety despite ongoing challenges.The Scene UnfoldsAs Hurricane Helene unleashed its force on Asheville, North Carolina, the community braced for impact. The French Broad River swelled to record heights, transforming into a turbulent force that consumed past records. Typically a gentle, blue expanse, it now surged with ferocity, defying historical precedents and challenging its banks.By morning, the once-reliable alerts succumbed to silence, leaving residents like Susanne Paola Antonetta…

A comprehensive plan for the Goods Station project in Birmingham has been lodged.Vita Group leads the initiative, aiming to revitalise vacant urban land.The development will feature nearly 1,000 apartments across five buildings.Commercial spaces and amenities like a food hall and co-working areas are included.The project is expected to boost the local economy and create significant job opportunities.Plans for the Goods Station project in Birmingham city centre propose a substantial mixed-use development on previously unused land. With approximately 1,000 apartments, this plan represents a significant addition to the city’s housing stock. The project is situated near Birmingham’s iconic Mailbox complex, a…

This week saw a notable 20% increase in UK tech investments, reaching a total of £131m across various sectors.Significant deals include a £95m capital raise by ecommerce leader THG, aimed at demerging its Ingenuity division.Edtech platform Perlego secured £15m to enhance access to its extensive digital library of educational titles.Cybersecurity firm Harmonic raised £13m through a Series A round to boost data protection capabilities.Fintech firm Monzo achieved a valuation of £4.5bn following an employee share sale.This week, UK tech investments saw an impressive 20% rise, culminating in a total of £131m. This increase is distributed across varied sectors, reflecting robust…

The UK economy experienced a slight recovery in August, with a 0.2% growth rate. This growth marks a shift after two months of economic stagnation, signalling cautious optimism among analysts and stakeholders.Driven by manufacturing and construction, this growth highlights the resilience of key sectors. The Office for National Statistics’ figures suggest a gradual return to stability, though challenges remain.The manufacturing sector saw a 0.5% increase in production, a significant driver behind August’s economic growth. Construction followed closely with a 0.4% rise, reversing the declines both sectors faced in July.These sectors’ resilience suggests a stabilising effect on the broader economy, although…

A new padel club has opened in Gloucester Quays Retail Park, occupying the former Toys R Us building.The £1m facility boasts nine courts, a restaurant, and a bar, and has created 15 jobs.Padel, a mix of tennis, squash, and badminton, is rapidly gaining popularity in the UK.General Manager Hannah Thomas highlighted the sport’s accessibility and community appeal.Peel Retail & Leisure’s Mark Whittaker remarked on padel’s rising popularity in Gloucester.The recently launched padel club at Gloucester Quays Retail Park occupies the premises which formerly housed Toys R Us, marking a significant investment of £1 million. This facility includes nine state-of-the-art courts…

The Fortescue Arms in Woolacombe is set for a transformation after its sale to a new owner.Local hotel operator Richard Wheeler has acquired the pub, known for its picturesque setting.The venue will feature a revamped dining experience, including a Sunday Carvery.The transaction was managed by Christie and Co, specialists in property advisory.Market interest was high, with multiple offers and viewings secured prior to the sale.The Fortescue Arms, a beloved North Devon pub located in the idyllic setting of Woolacombe, has been acquired by Richard Wheeler, a seasoned local hotel operator. Known for its charming appeal and setting in an area…

THG, the Manchester-based ecommerce company, saw its shares decline by 6% following a successful £95m fundraise.The company’s fundraising initiative was oversubscribed, with shares sold at a 5.2% discount to the previous day’s closing price.CEO Matthew Moulding contributed significantly, investing £10m, while a retail investor offer added £5m.The funds will facilitate the demerger of THG’s Ingenuity division to focus on Beauty and Nutrition.This strategic realignment aims to reduce debt by transferring lease liabilities to Ingenuity.In a recent financial manoeuvre, THG, the Manchester-based ecommerce firm, witnessed a 6% decline in its share value post a significant £95m fundraiser. The fundraising drive saw…

Poppy Gustafsson, co-founder and ex-CEO of Darktrace, has been appointed as the UK’s new investment minister, indicating the government’s intention to strengthen business relations.Gustafsson’s role will involve leading the revamped Office for Investment, aiming to enhance the UK’s appeal to global investors.Her experience in scaling Darktrace will be crucial in promoting the UK’s business-friendly environment internationally.The government is expanding the Office for Investment to streamline collaboration across departments, providing robust support to investors.The recent acquisition of Darktrace by Thoma Bravo for £4.2bn marks a significant change in Gustafsson’s professional journey.Poppy Gustafsson, known for her pivotal role in establishing and leading…

Premier Inn is set to expand its Yeadon Way property by converting a former restaurant into new hotel rooms. This change is part of a broader strategy following the closure of numerous Brewers Fayre locations across the UK. The approved plans include significant structural changes, enhancing guest convenience. Stakeholders have been actively involved, ensuring standards are maintained. The redevelopment aims for improved service without compromising existing amenities.The Yeadon Way Premier Inn in Blackpool will undergo a transformation with the conversion of the former Brewers Fayre restaurant into 15 new hotel rooms. This initiative comes in the wake of a nationwide…