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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