New Look hails ‘strong year’ despite widening losses

The company said the £87.8m loss included an impairment charge of £47.4m following an accounting procedure conducted in the period valuing its property leases and other assets. Adjusted EBITDA increased 67% to £42.2m, compared with £25.2m in 2022. Gross margin stood at 45.8%, up from 43.1%, driven by the retailer’s …

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Amazon to launch delivery drones in the UK next year

Amazon cut a large part of its UK team working on drones in 2021, while mass redundancies at the company earlier this year also hit its Prime Air team. The project has faced delays and regulatory hurdles, while a number of its drones have crashed during field testing. However, Amazon …

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Condé Nast announces Awards for Excellence 2023 winners

The Guardsman and Kimpton Fitzroy have been named among the UK’s best hotels by luxury hotel guide Condé Nast Johansens. The Guardsman won the Best Afternoon Tea category for its “tailored service and five-star finesse”. Found in the exclusive central London St James’s neighbourhood, the Johansens team praised the suites with private …

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