Retailers record six months of negative sales

Tess Egginton
-
0
Retailers record six months of negative sales
Total in-store and online sales fell -2.2% in March, marking the sixth consecutive month of negative sales results, according to new data from BDO’s High Street Sales Tracker. The last six months marks the longest consecutive period of negative growth outside of the COVID-19 pandemic. BDO’s data, which looks at sales across discretionary spend categories, highlighted that in-store sales were negative for the fourth month in a row (-1.8%) and pulled down by sharp falls in both fashion and homewares sales. Non-store sales were also negative (-2.3%), following three successive months of positive results. Sophie Michael, Head of Retail and Wholesale at BDO, said: “These results continue to paint a bleak picture for retailers. Despite both the Easter bank holiday weekend and Mother’s Day falling in March this year, these results serve as a stark reminder of the pressure the sector is under.” Fashion was the only non-store category to see positive results in March but the growth of 1.5% failed to offset the negative in-store sales, which declined by -6.0%. The homeware sector also performed poorly, falling by -10.9%, the lowest monthly result for this category since May 2022. The lifestyle sector performed slightly better, with sales up +0.9% compared to the same month last year. Sophie continued: “Going into April, retailers will see their costs rise even higher with the uplift in the national minimum wage and increased business rates leaving very little room to spend on investment, promotions or other ways of encouraging consumer spending. “Elsewhere, there are reports that order levels fell in March and are expected to fall further in April, showing no signs of appetite for consumers to increase discretionary spend. Retailers will be fixated on managing their cost base to ride out what continues to be a challenging trading period, with no notable recovery on the horizon just yet.”

Tech firm distributes 1,600 bamboo cups to Derby charities so they can enjoy a brew or two

Tess Egginton
-
0
Tech firm distributes 1,600 bamboo cups to Derby charities so they can enjoy a brew or two

A Derby firm has helped spread the message about saving the planet by handing out 1,600 bamboo-fibre cups to local charities and organisations.  

Family-owned Barron McCann, which provides IT services to customers throughout the UK and Europe, handed out the eco-friendly cups to YMCA Derbyshire, Treetops Hospice, Derby County Community Trust, Derby Women’s Centre and Bridge The Gap C.I.C so that they can enjoy a hot drink and know that they are doing their bit for the planet.  

Barron McCann were gifted the mugs – created by British homeware and gifting company Milly Green – by Hampshire-based Cable Talk, which is part of the Barron McCann group of companies. 

Each mug is made from 100% bamboo and is fully recyclable.  

Lucy Laughton, Barron McCann’s business support and social values co-ordinator, delivered the mugs to the five charitable organisations. She said: “We were lucky to receive this kind donation from our friends at Cable Talk and chose local charities and organisations who we felt were deserving of the mugs.  

“The mugs are made from recycled, reusable resources – even the lid is bamboo, so there is no plastic after taste. 

“We all know the benefits of a cuppa and a chat, and I hope that the charities will be able to enjoy drinking from the Milly Green mugs.” 

Paul Taylor is YMCA Derbyshire’s Community Relationship Co-Ordinator. 

He said: “We are extremely grateful to Barron McCann for this kind donation. We will be able to use the mugs to bring a smile to participants of the various projects we run here at the YMCA.  

“Our Health & Wellbeing team will be able to use the mugs for their sessions and I know that they will be most welcome down at our Wilmorton Community Gardens.” 

Glowfrog wins for 4th year running

Tess Egginton
-
0
Glowfrog wins for 4th year running
In receipt of a ThreeBestRated® Excellence Award, for the fourth year in a row, is Glowfrog Video Production based in Derby. Following a year which involved working with the likes of Mercedes-Benz, Marks & Spencer and the University of Derby, Glowfrog have now earned another ThreeBestRated® Excellence award for 2024. Glowfrog produce premium-grade business videos and specialise in corporate video production. Helping businesses to make an impact and attract new customers with effective video marketing, Glowfrog offer an award-winning complete video production service and have more than satisfied the video advertising needs of a vast range of clients from different industries.   Make professional video production a part of your marketing strategy this year and book a free consultation on the link below.  Website: www.glowfrogvideo.com Email: hello@glowfrogvideo.com Phone: 01332 492 465

Motorpoint Group hails strong and profitable Q4 performance

Tess Egginton
-
0
Motorpoint Group hails strong and profitable Q4 performance

Motorpoint Group, the independent omnichannel vehicle retailer, has hailed a strong and profitable Q4 performance in a trading update for the quarter ended 31 March 2024, with retail volume up 9% year on year and continued margin recovery.

As a result, January, February and March were all profitable months.

The Derby-based firm noted that loss before tax for the full year is thus anticipated to be at the “favourable end” of management expectations.

Consumer demand has picked up, the company shared, with Motorpoint benefitting from enhancements made to its digital presence which is generating strong website traffic.

Motorpoint also highlighted a robust balance sheet with no structural debt and £9m of cash.

The business has initiated a share buyback to repurchase and cancel up to 5m shares, with 220,255 repurchased as at 31 March 2024.  

Mark Carpenter, Chief Executive Officer of Motorpoint Group PLC, said: “I am delighted that the difficult conditions experienced in 2023 have eased in Q4 and, combined with our focus on driving operational excellence through a programme we call Brilliant Basics, has meant that Q4 was characterised by consistent profitability.

“We are achieving growth, increasing stock turn and improving margins, and this is expected to continue into FY25 as supply improves following recent new car registration growth. I am therefore optimistic for FY25 and look forward to Motorpoint making the most of the growth opportunities ahead.”

Great British Car Journey snaps up AROnline

Tess Egginton
-
0
Great British Car Journey snaps up AROnline

Great British Car Journey, the Derbyshire interactive classic car museum, has acquired the AROnline website from its founder Keith Adams.

AROnline was established in 2001 by Keith and has grown to become a key resource for fans of British motoring history, boasting nearly 6,000 published articles.

Richard Usher, founder of the museum which is based in Ambergate, Derbyshire, said: “As a classic car authority and renowned journalist, Keith was a terrific help to us four years ago when we were putting Great British Car Journey together. He has been a stalwart supporter of our vision.

“AROnline is a ready-made archive of the history behind the majority of our exhibits, and it is a site I have been visiting for more years than I care to admit. It made absolute sense to acquire the site and give our visitors and club members access to even more of the UK’s very rich automotive history.”

Keith Adams said: “I am delighted that the future of AROnline has been secured and I am pleased to be able to retain control of the past and future content by working with Richard and his team.

“There are no plans to change the website in any material way or introduce any form of subscription charge. It has always been a free resource and the intention is that it stays that way.”

The acquisition of AROnline follows the Autocar deal in 2022, which saw Great British Car Journey secure an agreement to reproduce articles and artwork from the 125-year Autocar magazine archive.

Richard added: “We want Great British Car Journey to become recognised as the authority and place to go for all British motoring history, whether that’s viewing cars, driving them, hanging pictures of them on their wall or, now, reading about them at AROnline.”

Great British Car Journey opened in May 2021 and is a celebration of cars built in Britain. Richard, a lifelong car enthusiast and being born in Birmingham, has a natural affinity with cars built in the Midlands and beyond.

Keith has been similarly car obsessed from a very early age and has had a long journalistic career during which he has written articles for all the leading classic car magazines and is currently editor of Parker’s Guide.

Between them, Richard and Keith have owned more than 500 cars and have an abiding interest in the cars that gave the ordinary family the freedom of the road.

Property & Business Investment Lincolnshire 2024: A Resounding Success

Tess Egginton
-
0
Property & Business Investment Lincolnshire 2024: A Resounding Success
On March 20th, 2024, Lincolnshire experienced a remarkable convergence of visionaries, investors, and innovators at the Property & Business Investment Lincolnshire Expo. The occasion served as a beacon of opportunity, showcasing the region’s potential for growth, development, and prosperity. The day kicked off with an exhibitor breakfast that set the tone for all of the exceptional business opportunities awaiting attendees. Networking over a breakfast roll, exhibitors laid the groundwork for fruitful partnerships and collaborations. One of the highlights of the event was the informative Netzero update by Lee Marshall of Viridis. Lee’s insights into sustainable practices and their integration into business operations left attendees inspired and equipped with the knowledge to navigate the evolving landscape of environmental responsibility. It underscored Lincolnshire’s commitment to sustainability and its pivotal role in shaping future business endeavours. The fast-paced and fun speed networking session with Lincoln Business Club provided a unique opportunity for participants to expand their networks and forge meaningful connections in a dynamic environment. Additionally, attendees had the privilege of accessing the Lincolnshire Chamber of Commerce March Construction & Property Network free of charge, further enriching their experience and providing valuable insights into the latest trends and developments in the industry. It exemplified the event’s commitment to providing attendees with unparalleled opportunities for learning and professional development. The Property & Business Investment Lincolnshire event would not have been possible without the steadfast support of Team Lincolnshire & Invest East Midlands, whose continued sponsorship ensured the event’s success. Their unwavering commitment to promoting business excellence and economic growth in the region is commendable and deserves recognition. As we reflect on the success of the Property & Business Investment Lincolnshire Expo, be sure to add to your diary the big East Midlands Expo on November 11th, 2024, held at EMCC, Nottingham. Exhibitor space bookings are now open, and we encourage you to secure your spot early to avoid missing out on preferred position. This is a fantastic opportunity to connect, collaborate, and strengthen relationships within the Property, Construction, Investment, Financial & B2B environment. For further information visit https://businessshowsgroup.co.uk/nottingham/ or email office@businessshowsgroup.co.uk

Fresh phase of development completes at major logistics and distribution park

Tess Egginton
-
0
Fresh phase of development completes at major logistics and distribution park
Magna Park South in Lutterworth has reached completion, ending a five-year period of activity, which has seen GLP speculatively develop 2.9m sq ft across eleven buildings over three phases. The first phase units (MPS 1, 2, 3 & 4) were successfully leased to Amazon, Whistl, Movianto and JD.com. GLP then developed MPS 5, 6, 7 & 8, providing a further 1m sq ft. The fresh completion of units MPS 9, MPS 10 and MPS 11 which are 388,000, 136,000, and 119,000 sq ft respectively, bring to the market a combined footprint of almost 645,000 sq ft of Grade A, sustainable logistics buildings. Throughout the development of Magna Park Lutterworth, GLP has sought to achieve high environmental standards. MPS 10 and MPS 11 have already achieved BREEAM Excellent ratings. MPS 9 meanwhile is striving for an Outstanding rating. Bruce Topley, Managing Director at GLP, said: “The completion of Magna Park South is a major milestone for us. The park contains some of the most environmentally responsible warehouses in the country, affirming our commitment to maintaining the highest sustainability credentials. “The combination of state-of-the-art facilities, a prime location, and an enviable list of existing and prospective tenants positions Magna Park South for continued long-term success.”

New grants for high street businesses in Rushcliffe

Tess Egginton
-
0
New grants for high street businesses in Rushcliffe
A new grant scheme from Rushcliffe Borough Council (RBC) is now offering grants of up to £5,000 for small high street businesses in Rushcliffe, to help boost their trade by improving their energy efficiency, digital offer or shopfronts. Supported by Shared Prosperity Funding from the UK Government, the High Street Small Business Grants can support up to 70% of the cost of projects up to a maximum of £5,000 to further assist those currently trading on local high streets and town centres. Funding is available for businesses, particularly from the retail, hospitality and leisure sectors, to help support and sustain existing businesses on the high street, improve the appearance of existing premises on the high street and encourage businesses to introduce energy saving measures. Energy efficiency activities include funding for the installation of small-scale measures to reduce energy consumption and costs, for example, LED lighting, improved insulation and upgrades to modern electronic thermostats. Funding for digital support that will enable improved productivity or efficiency in the business can include, the purchase of specialist equipment and support for growing and improving their digital footprint. Examples of shopfront improvements to enhance the visual appearance of the high street can include, restoration or repair work, replacement of shop front signage, windows or doors and appropriate lighting. The grants launched on April 1 and will close once all the funding is allocated. All grants awarded must be claimed before March 2025.

Businesses provide music to the ears of Brookfield students

Tess Egginton
-
0
Businesses provide music to the ears of Brookfield students
A team of local businesses have pooled their resources to put an end to crackles and feedback by replacing Brookfield’s old microphones and speakers with a state-of-the-art sound system. The PFA, headed by Greg Campbell, explains more: “As a group of Brookfield parents, we come together a few times each term and raise money for the school. When the opportunity arose to match the school’s funding budget for a new sound system, we were quick to accept the challenge. “Having the support of Palfreymans from Chatsworth Road, Specsavers Chesterfield, Validate consulting and Londis all pull together has been a brilliant team effort.” Keith Hirst, Headteacher, said: “We are very lucky to have such a dedicated and hard-working parent association. The BPFA [Brookfield Parent and Friends Association] work tirelessly throughout the year to raise funds to support students at Brookfield. “The new sound system is something that will benefit the whole school community and I am very grateful for the support of the BPFA, along with local businesses – Specsavers, Londis, Validate and Palfreyman’s – in helping to provide this system.” Validate Consulting made a substantial financial contribution towards the equipment. “We have been enjoying performances at Brookfield for many years and it has been a pleasure to be able to support the school in this way,” said Damien Eaves, Managing Director of Validate. “We hope that the equipment will be useful to the school for many years to come.” Representatives from all the local business were treated to a VIP experience at the performance of the Little Mermaid at Brookfield Community School, which ran the week before the half-term break.

Abandoning second class post is too much for small firms to bear, says FSB

Tess Egginton
-
0
Abandoning second class post is too much for small firms to bear, says FSB
Doing away with second class postage is a step too far, Royal Mail is being told by the Federation of Small Businesses (FSB). The FSB says keeping six-day-a-week service for first class letters is a good step, bulk mail delay from two to three days is a difficult but sensible decision, but second class proposals should be revised.
Policy Chair Tina McKenzie said: “Taking the axe to daily deliveries for second class would be a drastic cut which would hit the many small businesses which rely on it, and will in all probability leave some with no choice but to fork out for first class. “However, Royal Mail’s concession to retain a six-day-a-week service for first class letters is a good step in the right direction, compared to its original dire proposal – voiced via Ofcom – to torpedo daily deliveries altogether. The Government rightfully said it was committed to keeping the six-day service as it is, and that is something that would have required legislation to change. “We do recognise that savings need to be made, therefore the idea that bulk business mail, like bills and statements, will arrive within three working days instead of two is a difficult but sensible way to make savings without causing an enormous amount of disruption. “It’s good that Royal Mail has listened to us on some parts of its consultation response. We hope that Ofcom will reflect on the detrimental impact of diminishing six-day-a-week deliveries, and remind itself that its role is to protect consumers rather than be a cheerleader for service cuts by an organisation it’s supposed to regulate.”
1...344345346...1,047Page 345 of 1,047