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☆ Zara owner Inditex climbs to all-time high as 2023 sales jump 10%
▼ + stars: | 2024-03-13 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Shopper carrying two large shopping bags from the clothing retailer Zara on Oxford Street on 5th February 2024 in London, United Kingdom. Oxford Street is a major retail centre in the West End of the capital and is Europes busiest shopping street with around half a million daily visitors to its approximately 300 shops, the majority of which are fashion and high street clothing stores. Sales increased by 10.4% to 35.9 billion euros for the year, the company said, signaling this was a record high. Net income also reached a fresh high, after soaring by 30.3% from 2022 to reach 5.4 billion euros last year. Zara, including the Zara Home range, was the biggest contributor to sales in 2023, followed by Pull & Bear and Massimo Dutti, Inditex said on Wednesday.

Persons: Zara, Mike Kemp, Inditex, Oscar García Maceiras, Bershka, Massimo Dutti Organizations: United Kingdom ., Getty, Las Locations: London, United Kingdom, Zara, Los Angeles, Las Vegas, Spanish

☆ Greggs overtakes McDonald’s to become king of the British breakfast
▼ + stars: | 2024-03-05 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

Brits are going crazy for the bacon and sausage buns offered by Greggs, an 85-year-old chain of budget bakeries that just posted its best-ever performance. Pre-tax profit also jumped more than 13% last year to a record high of nearly £168 million ($213 million). Greggs’ breakfast meal deal — which includes a sausage, bacon or omelette-filled bun and a drink — starts at £2.85 ($3.62), and is particularly popular with customers, a company spokesperson told CNN. Sales grew to a record £1.8 billion ($2.3 billion) last year, up from £1.2 billion ($1.5 billion) in 2021. Greggs café, Tasty by Greggs, inside Primark's Oxford Street store in London in October 2022.

Persons: London CNN —, Greggs, Ireland —, McDonald’s, Roisin Currie, “ Greggs, ” Matt Britzman, Hargreaves Lansdown, Greggs café, John Nguyen, benedict — Greggs Benedict, Still, Alex Morton Organizations: London CNN, Ireland, CNN, Press Association, AP Locations: United Kingdom, Newcastle, England, London, Fenwick

☆ Alleged murder of Sydney couple by police officer reopens old wounds in LGBTQ+ community
▼ + stars: | 2024-03-01 | by ( Angus Watson | ) edition.cnn.com time to read: +7 min

Sydney, Australia CNN —The alleged murder of a young Sydney couple by a serving police officer has opened a tragic new chapter in the troubled history between the force and the city’s LGBT+ community and cast a shadow over Mardi Gras, a vibrant annual celebration of their culture. The bodies of Sydney couple Luke Davies and Jesse Baird were found a week after their alleged murder. Adding to that distress was a photo circulated widely of the alleged killer marching in police uniform at the 2020 Mardi Gras. The couple's alleged murder has cast a shadow over the annual Sydney Gay and Lesbian Mardi Gras parade. Recommendations to police included reinvestigating some of the suspected hate crimes murders, but also for officers to take courses in LGBT+ bias and to improve relations with the LGBT+ community.

Persons: Australia CNN —, Senior New South Wales Police Constable Beaumont Lamarre, Condon, Jesse Baird, Luke Davies, Baird, Davies, @Jesse Baird, Kate Webb, Taylor Swift, Taylor, ” Webb, Mardi, Jesse, Luke who, Webb, ”, “, Jenny Evans, ” It’s, Mardi Gras, Robert French, Tony Crandell, John Sefton, John Sackar, Sackar Organizations: Australia CNN, Mardi Gras, Senior New South Wales Police, Baird’s Paddington, revelers, Gay, Instagram Police, NSW Police, NSW police, Sydney Gay, 78er, ‘, Oxford, International, Sunday Locations: Sydney, Australia, Mardi, Senior, Baird’s, Sydney’s, Mardi Gras, NSW, Newspix, Police

☆ H&M shares tumble 8% after weaker sales and surprise CEO exit
▼ + stars: | 2024-01-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Shares of Swedish retailer H&M were down 8% at 09:05 a.m. London time on Wednesday, after the company announced weaker sales and the surprise departure of its chief executive. H&M sales were 1% lower for 2023 in local currencies, and 4% lower year-on-year in the fourth quarter. In an unexpected leadership shake-up at the H&M group, Helena Helmersson, who has been in the CEO role for four years, will be replaced by Daniel Ervér. "The H&M group is in a strong position, with a positive profitability trend and good conditions to make further improvements in 2024," group chair Karl-Johan Persson said. "Daniel is a competent, experienced and respected leader and has the qualities needed to continue to develop the H&M group."

Persons: Helena Helmersson, Daniel Ervér, Helmersson, Ervér, Karl, Johan Persson, Daniel Organizations: Oxford Street, Regent Locations: London, United Kingdom, Zara

☆ A century after debut, UK music store HMV makes Oxford Street return
▼ + stars: | 2023-11-24 | by ( James Davey | ) www.reuters.com time to read: +3 min

The 363 Oxford Street address hosted the very first HMV store in 1921, opened by composer Edward Elgar, and was central to the development of British popular music and culture. "We feel really good on the future of physical stores for retail," Putman told Reuters in an interview. The store will sell 8,000 different vinyl albums, 12,000 CDs, music merchandise and a wide range of music technology. HMV says its vinyl sales are significantly ahead of UK annual market growth of 18%, and account for half its physical music sales. Councillor Geoff Barraclough of Westminster City Council, which oversees Oxford Street, said the HMV store represented what they wanted to do on Oxford Street: "an experience beyond traditional retail".

Persons: Edward Elgar, Doug Putman, Putman, John Lennon, Cher, Elton John, Michael Jackson, Brian Epstein, Epstein, George Martin, Geoff Barraclough, James Davey, Jan Harvey Organizations: Black, Oxford, HMV, Reuters, Wars, Marvel, Echo, Beatles, Westminster City Council, Oxford Street, Thomson Locations: Britain's, Dublin, Antwerp, Westminster

☆ Benko's Signa unit seeks $2.2 bln funding amid property crisis - Bloomberg News
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Peter Nicholls Acquire Licensing RightsNov 15 (Reuters) - Property tycoon Rene Benko-founded Signa Group's Prime unit has approached investors to seek up to 2 billion euros ($2.17 billion) in funding, Bloomberg News reported on Wednesday, citing people familiar with the matter. Signa Prime, which co-owns the Selfridges department store in London, requires 500 million euros to meet obligations this year alone and will need another 1.5 billion euros of cash in the first half of 2024, the report said. Some of the investors have turned down the request, while others are still in the early stages of assessing it, according to Bloomberg News. Thailand's largest department store owner, Central Group, on Tuesday took control of Selfridges department stores after the real estate company brought it in a deal worth $5 billion in 2021. The funding request comes as Signa faces a property crisis in Europe exacerbated by a sharp rise in rates and building costs.

Persons: Peter Nicholls, Rene Benko, Signa, Arndt Geiwitz, Angela Christy M, Devika Organizations: REUTERS, Bloomberg, Bloomberg News, Central, Thomson Locations: Oxford, London, Britain, Austria, Europe

Customers with shopping bags after visiting a Primark clothing store on Oxford Street in London, UK, on Monday, Nov. 6, 2023. U.K. retail sales rose by 2.5% in October, higher than the 1.6% growth of a year ago but below the three-month and twelve-month averages of 3.1% and 4.2%, respectively. The British Retail Consortium, which published the figures, said sales likely declined by volume because of the impact of inflation. Paul Martin, U.K. head of retail at KPMG, said sales "remained weak." As a result, the strong demand that has kept some retailers afloat over the last 18 months is now falling away."

Persons: Paul Martin, Martin, — Jenni Reid Organizations: Oxford, British Retail Consortium, Shoppers, KPMG Locations: London

"We know that the British economy recovered faster from the pandemic than anyone previously thought and data out today once again proves the doubters wrong," finance minister Jeremy Hunt said. And that's before the full drag from higher interest rates has been felt," said Ruth Gregory, deputy chief UK economist at Capital Economics. The upward revisions were concentrated in 2020 and 2021, during the height of the pandemic and immediate aftermath. Growth in 2021 was revised to 8.7% from 7.6%, while the size of 2020's historic slump was reduced to 10.4% from 11.0%, in line with preliminary guidance on Sept. 1. Growth in 2022 was revised up to 4.3% from 4.1%.

Persons: Rachel Adams, Jeremy Hunt, Ruth Gregory, Thomas Pugh, Capital's Gregory, David Milliken, Andy Bruce, William James, Toby Chopra Organizations: Oxford, REUTERS, National Statistics, European Union, Capital Economics, The Bank of England, RSM, Reuters Graphics Reuters, ONS, Thomson Locations: Britain, London, Germany, France, United States, Japan, Italy, Canada, Ukraine

☆ H&M to sell second-hand clothes at London flagship
▼ + stars: | 2023-09-13 | by ( ) www.cnbc.com time to read: +2 min

People passing a large scale sign for the high street clothes and clothing brand H&M outside their flagship store on the corner of Oxford Street and Regent Street. H&M plans to sell second-hand clothes and accessories at its flagship store in London from Oct. 5, as pressure increases on fast fashion companies to curb their environmental impact by encouraging the reuse and recycling of garments. It will be the second H&M store to offer second-hand clothes, after Barcelona which opened earlier this year. H&M launched a clothing rental service at its Regent Street store in November last year. Zara last week launched its online second-hand service in France, having trialed it in Britain since November last year.

Organizations: Oxford Street, Regent, European Union, M's Locations: London, United Kingdom, Cos, Monki, Barcelona, Sweden, Germany, Europe, United States, Zara, France, Britain

☆ Lower inflation boosts UK consumer mood: GfK
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO-Shoppers walk past sale signs on Oxford Street, as Britain struggles with the highest inflation rate among the world's big rich economies, London, Britain, 17 July 2023. The GfK consumer sentiment indicator rose to -25 in August from a three-month low of -30 in July, its biggest rise since April although still below the average of -10 for the survey, which has been running since 1974. Consumer price inflation dropped to 6.8% in July, down from a 41-year high of 11.1% reached in October 2022, although still higher than in all other major economies. The improvement in the GfK survey contrasts with other recent downbeat data on consumer spending. The GfK data was based on a survey of 2,001 people conducted between Aug. 1 and Aug. 10.

Persons: Rachel Adams, Joe Staton, David Milliken, Andy Bruce Organizations: Oxford, REUTERS, Reuters, of England, NIQ, Office, National Statistics, Thomson Locations: Britain, London

☆ Sook: How a UK startup hopes to save the high street
▼ + stars: | 2023-08-17 | by ( Jenny Marc | Mark Tutton | ) edition.cnn.com time to read: +4 min

They’re struggling against the shift to online shopping, rising operating and supply-chain costs, and shoppers having their spending money chipped away by inflation. Sook was founded in 2019 by John Hoyle, who was once a captain in the British army and then worked in real estate before launching the company. “People love engaging in real life and we just need to facilitate a model that allows that,” he says. Wanting to reach customers in the real world, Stark has held pop-up sales with Sook in Edinburgh, and on London’s Oxford Street. “Creativity and flexibility will be absolutely essential to ensuring that high streets continue to be diverse and vibrant,” he adds.

Persons: Sook, John Hoyle, Hoyle, ”, “, Nicole Stark, Stark, “ We’ve, we’ve, Andrew Goodacre Organizations: CNN, Newcastle, Adobe, Mastercard, Oxford, British Independent Retailers Association Locations: Britain, London, Leeds, Johannesburg, South Africa, Edinburgh, Scotland, Italy, France

☆ An Uber Eats rider and YouTuber says he's stopped picking up from McDonald's as it treats delivery staff badly and its drinks keep spilling
▼ + stars: | 2023-08-12 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

An Uber Eats rider has built a YouTube following of over 138,000 subscribers by videoing his work. But of the many restaurants and chains that Uber Eats works with, Pritchett said there was one that he avoided — McDonald's. McDonald's was briefly Uber Eats' prized possession, with the companies enjoying an exclusive contract in the UK until the fast food giant struck up a partnership with Just Eat in 2020. One of Pritchett's most popular YouTube videos, posted in February, shows him working a 24-hour shift . Are you an Uber Eats driver with a story?

Persons: Uber, Bryce Pritchett, Pritchett, YouTuber, videoing, —, TikTok . Pritchett, " Pritchett, McDonald's, Dara Khosrowshahi, wasn't, I'm Organizations: Service, YouTube, Pritchett, TikTok, Oxford Locations: Wall, Silicon, London, Soho, South Kensington, Philadelphia

Yet a sharp drawdown in the excess savings created by COVID-19 could be a curve ball that slams into bullish sentiment. U.S. excess savings have fallen to around $500 billion from around $2.1 trillion in August 2021, the San Francisco Federal Reserve estimates. In Europe, Deutsche Bank reckons excess savings in Sweden, struggling to contain a property slump, have dwindled. Reuters GraphicsRUNNING OUTDefinitions for excess savings differ, but economists generally agree that this means savings that went beyond trend levels during the pandemic. Cardano chief economist Shweta Singh said U.S. pandemic excess savings are likely to be depleted by year-end.

Persons: Rachel Adams, Janus Henderson, Oliver Blackbourn, Shweta Singh, Guy Miller, Jamie Dimon, Ben, Eren Osman, Arbuthnot Latham, Janus Henderson's Blackbourn, U.S . Russell, Russell, Goldman Sachs, Blackbourn, Zurich's Miller, Simon Bell, Guilluame Paillat, Paillat, Naomi Rovnick, Sharon Singleton Organizations: Oxford, REUTERS, San Francisco Federal, Deutsche Bank, Reuters, Insurance Group, Ryanair, JPMorgan, Unilever, U.S ., London's, Bank of, Aviva, Thomson Locations: Britain, London, China, Europe, U.S, Sweden, United States, downturns, Australia

☆ Struggling US downtowns could take a cue from a small town in England that gave businesses rent-free space
▼ + stars: | 2023-07-26 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

The UK is experimenting with offering small businesses free rent to revitalize downtown districts. Several small towns in the UK have experimented with giving small businesses rent-free shop space over the last few years. Now it's vibrant, upbeat, colourful," Hope Dean, the owner of a plant shop that was one of the 10 businesses given free rent, told The Guardian. Some US cities have pursued similar downtown revitalization initiatives. Denver offered free rent and services valued at $20,000 to businesses willing to use empty space in the city's downtown, and San Francisco has offered free rent and grant money to pop-up businesses in its downtown.

Persons: Hope Dean, We're, Matt Soffair Organizations: Service, Legal, General Investment Management, Guardian, Times, Westminster City Council, Oxford, BBC, Denver Locations: Poole, Wall, Silicon, American, Westminster, London, San Francisco

☆ Fact Check-London Ramadan lights organised privately, not by London Mayor
▼ + stars: | 2023-04-18 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

Tousi says: “Somehow, the Mayor of London and local authorities decided to focus on Ramadan… and nothing about Easter. What happened to Easter?”The Ramadan display was organised by a group called Ramadan Lights, not the London mayor, according to group founder Aisha Desai, who spoke to Reuters (ramadanlights.co.uk/). No taxpayers’ or local authorities’ money was used to fund Ramadan Lights, she said. The Ramadan Lights were also erected by Piccadilly Circus Underground station, not on Oxford Street or Regent Street, according to the initiative (ramadanlights.co.uk/ and here). The Mayor of London was not involved in organising Ramadan Lights, a privately funded, community-led initiative.

☆ Inflation is falling. But the days when prices rose just 2% may never return
▼ + stars: | 2022-12-13 | by ( Julia Horowitz | ) edition.cnn.com time to read: +9 min

Energy prices are pulling back because of fears of a global recession, and the price to ship a container across the ocean has plummeted. In the United States, consumer prices rose at an annual rate of 7.1% in November, the smallest increase since December 2021. Prices rose by 10.7% in the United Kingdom last month, down from 11.1% in October, according to data published Wednesday. But even if this bout of inflation has peaked, economists are warning the world may not return to simpler days when prices barely rose at all. At least for now, supply of critical minerals can’t keep up, which could force prices higher at times.

☆ Four students injured in drive-by shooting near Philadelphia high school, police say
▼ + stars: | 2022-11-24 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

Four students were injured in a drive-by shooting near a Philadelphia high school Wednesday, shortly after students were dismissed early for Thanksgiving, officials said. Four students — two 15-year-old girls and two 16-year-old boys — were injured and hospitalized in stable condition Wednesday, police said. Overbrook High School was placed on lockdown at 11:47 a.m. due to the shooting and it was lifted at 1:02 p.m., police said. Its impact extends to all students, staff, and school communities,” the School District of Philadelphia said in a statement to NBC Philadelphia. "Our administration will work with @PHLschools to support the Overbrook High School community and with law enforcement to ensure the perpetrators are found and held accountable."

☆ Meta is promoting its VR headset with a 3D spaceman bursting out of London's most famous advertising billboard
▼ + stars: | 2022-11-24 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Meta unveiled a new 3D ad for its Meta Quest 2 VR headset on London's Piccadilly Circus. Meta's Reality Labs took over the Piccadilly Lights in the heart of London's West End to promote its Meta Quest 2 virtual reality headset. Since 2019, the Facebook owner has pumped $36 billion into Reality Labs, according to an Insider analysis of Meta's financial filings. Reality Labs posted an operating loss of $9.4 billion in the first nine months of this year alone. The Meta Quest 2 ad will run until the end of the year and it will be rolled out across the US as well.

☆ Advertisers crack jokes about the end times and turnip lattes as inflation bites
▼ + stars: | 2022-11-08 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

London CNN Business —A woman maneuvers her car onto a street called “Wits’ End.” The sky is an ominous red, and strange things are happening. “Every advertiser is aware the customers they’re talking to are feeling cost of living pressures,” said Matt Bourn, director of communications for the Advertising Association, a UK industry group. In a recent Dunelm ad, a woman aims to cozy up her home after navigating a topsy-turvy drive up a street called Wits' End. “We are seeing brands who want to make sure they’re keeping consumers during this time,” said Jeanine Poggi, editor of Ad Age. Jason Alden/Bloomberg/Getty ImagesBut companies will be expected to display an awareness about the pervading economic anxiety that’s affecting their customers.

☆ Gap eliminates 500 corporate jobs amid shrinking margins
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Gap logo is seen on the front of the company's store on Oxford Street in London, Britain, July 1, 2021. REUTERS/John SibleySept 20 (Reuters) - Gap Inc (GPS.N) is eliminating about 500 corporate jobs, the apparel chain said on Tuesday, as it struggles to protect margins and battles weak sales of outdated clothes at brands including Old Navy. Register now for FREE unlimited access to Reuters.com RegisterShares of the Banana Republic parent declined about 3% in afternoon trade, taking the year-to-date decline to 48%. Late last month, the company withdrew its annual forecasts due to an inventory glut and weak sales. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ CURAJUL IMPRESIONANT a doi tineri: au oprit un criminal cu ajutorul unei plăci de skateboard
▼ + stars: | 2021-07-05 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Doi tineri au acționat eroic, în urma unei crime săvârșite în Londra, și au contribuit la arestarea făptașului. Aceștea au oprit criminalul cu ajutorul unei plăci de skateboard, scrie presa locală, citată de antena3.ro. Un bărbat, în vârstă de 60 de ani, a fost înjunghiat mortal de un individ de 25 de ani chiar în fața unui magazin Microsoft. Agresorul a fost reținut imediat, iar tinerii și-au văzut de drum. au contribuit a arestarea făptașului, scrie presa din insulă.

Organizations: Capitala, Microsoft Locations: Londra, Oxford, Capitala britanică

☆ Internațional Arhive
▼ + stars: | 2020-10-02 | by ( ) www.canal2.md time to read: 1 min

Londra intră de azi în carantină, până în data de 2 decembrie. Cu o seară înainte să intre în vigoare noul lockdown, oamenii au umplut terasele de pe Oxford Street. Mulți au luat cu asalt şi magaz...

Organizations: Oxford Street Locations: Londra

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