Mulberry Revenue Beats Estimates in Fiscal 2023
Pretax profits slumped due to the closure of its Bond Street store and the absence of VAT-free shopping in the U.K.
Source: wwd.com
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Brands in London "suffering": Fresh calls to scrap 'tourist tax' amid Mulberry losses
Mulberry chief warned its profits have been hit hard by the removal of VAT free shopping as tourists ditch London for Paris and Milan
Source: cityam.com
Britain's much-hated 'tourist tax' is causing foreign visitors to part with less cash when in the UK
Rishi Sunak is facing fresh pressure to bring back tax-free shopping for holidaymakers last night as new data showed tourism has still not recovered to pre-pandemic levels.
Source: dailymail.co.uk
Retail sales up in April but analysts warn on implications of further rate hikes
Retail sales volumes recovered slightly by 0.5 per cent in April as the sector was lifted by the Easter holidays, however high inflation and strains on As grocery inflation remains at record highs of circa 17.1 per cent, food stores sales volumes rose by 0.7 per cent in April 2023, following a fall of 0.8 per cent in March 2023.
Source: cityam.com
Tourism to London bounces back… 'but we still need VAT-free shopping'
Calls continue for the ‘tourist tax’ to be dropped even as ‘tourism in the West End is showing clear signs of recovery’
Source: standard.co.uk