5:58 am, August 14, 2025
Shoe Zone blames Budget tax hikes as chain halves profit forecast
Shoe Zone has halved its profit guidance in the face of weaker consumer spending, partly blaming the impact of the Labour government’s budget tax hikes.
It told shareholders that is saw a further drop in consumer confidence ‘following on from the government’s October 2024 budget announcement’.
It said in a statement to the stock market that it is on track for an adjusted pre-tax profit of around £2.5m for the year to September 27. The company had previously forecast a profit of £5m for the year.
Around 2,150 jobs at risk as Claire’s Accessories appoints administrators
Fashion accessories chain Claire’s has appointed administrators for its UK and Ireland business, putting around 2,150 jobs at risk.
The US parent firm for the high street retailer said it has filed a formal notice to administrators from advisory firm Interpath.
In a statement on Wednesday evening, Interpath confirmed Will Wright and Chris Pole have been appointed joint administrators. The move will raise fears over the future of its 306 stores, with 278 of these in the UK and 28 in Ireland.
Jaecoo E5 goes on sale priced from £27,505
Jaecoo has announced that the E5 electric SUV has gone on sale priced from £27,505.
The electric model will sit alongside the firm’s combustion-powered 5 SUV, with the E5 rivalling the likes of the Jeep Avenger Electric and Ford Puma Gen-E.
The car uses a 61.1kWh lithium-ion battery and an electric motor to produce 204bhp and 288Nm of torque. Jaecoo claims that the E5 can travel up to 248 miles on a single charge and that 80kW DC rapid-charging is compatible, allowing for a 30 to 80% top-up to take around 27 minutes.
The markets
The FTSE 100 made steady progress on Wednesday, pushing back towards record highs, as hopes grew that the US Federal Reserve will lower interest rates in the coming months.
The FTSE 100 index closed up 17.42 points, 0.2%, at 9,165.23. The FTSE 250 ended up slightly at 21,851.56, but the AIM All-Share finished 1.73 points lower, 0.2%, at 757.54.
The pound climbed to 1.36 dollars late on Wednesday afternoon in London while the euro rose to 1.17 dollars.
Reeves pledges to tackle productivity challenge at autumn budget
Rachel Reeves has pledged to tackle the UK’s productivity challenge at the budget this autumn.
The chancellor said investment in infrastructure projects and reform of the planning system form part of the government’s plans to boost the economy’s productive capacity.
The government’s plans to cut red tape and shift responsibility away from councillors and towards expert officers are set out in its Planning and Infrastructure Bill, which is currently making its way through the House of Lords.
Students receiving eagerly anticipated A-level results
School and college leavers are waking up to their long-awaited A-level results, with more than a quarter of entries expected to score the top grades.
Students across England, Wales and Northern Ireland are receiving grades to help them decide whether to progress to university, an apprenticeship or work.
Last year, 27.8% of UK A-level entries were awarded an A or A* grade – the highest proportion outside the pandemic-affected years of 2020-22.
Wednesday on Car Dealer
‘The doors would be shut within minutes’: Why dealers won’t be asked to fund FCA redress scheme
Car dealers do not need to put money aside to repay customers who were mis-sold motor finance as part of any FCA redress scheme, according to automotive legal experts at Lawgistics.
Family-run Vospers slumps to pre-tax loss as car dealer endures ‘challenging’ 2024
Family-run car dealer Vospers saw its profits wiped out in a ‘challenging’ 2024, with the firm slipping to a pre-tax loss.
Polestar aims to give customers ‘unparalleled access’ with new showroom in Kent
Polestar has added to its UK dealer network with the opening of a new site in Kent.
Revealed: The cars that made dealers the most profit in July – and premium motors led the way
The Mercedes-Benz C-Class gave dealers the highest retail margin in the sub-£10k retail bracket last month, while Land Rover continued to be most profitable brand.
Trade site Dealerway launches WhatsApp concierge service to make listing part exes even easier
Trade disposal website Dealerway has launched a smart concierge service to make listing overage or part exchanges on its site quick and easy.
Weather
Today will be warm and humid, slightly cooler than yesterday, with sunny spells, variable cloud, and scattered showers; thunder possible in northeast Scotland, reports BBC Weather.
Tonight, the north sees variable cloud, clear spells, and isolated showers, while the south becomes mostly dry and clear, with light, variable winds across most areas.
