Historic Coventry shop to close after 100 years as owner says 'retail is also not as nice as it used to be'

Salts on New Union Street in Coventry will be closing on March 29

A historic Coventry shop is set to close its doors permanently after more than a century in business.

Tobacconist and lighter repair specialist Salts was founded by Harry Salt in Parkside, Coventry, in 1916 before relocating to New Union Street in 1961.It was run by the Salt family until it was taken over by Mark Kendall in 2019.

Mark, a Coventry local, said he was "really sad" about the impending closure on March 29. He revealed that the decision to shut down was reluctantly made due to several factors.

In an interview with Coventry Live, 49 year old Mark said: "Footfall never came back after COVID. Retail is also not as nice as it used to be because there are the issues of break-ins and theft and all those things that happen in city centres to retailers."

He also highlighted the challenges posed by the illegal tobacco trade in the city. He said: "Coventry is rife with illegal stuff so the people selling it legally cannot compete."

Despite the sadness surrounding the closure, Mark said he had relished his time at Salts. He said: "I have loved it! I always wanted to run a shop, so I have really enjoyed it."

Customers have been sharing their 'fond memories' of visiting Salts. Many nostalgically recalled trips to the city centre with their grandparents many years ago, Mark said.

He added: "It is quite generational, so a lot of people have fond memories of relatives, they used to come here as children with their grandparents, so obviously it holds a lot of sentiment... and a lot of granddaughters and grandsons just remembering when times were more simple, and you remember stuff about your childhood and your now-departed relatives, so a lot of moments for people."

Mark added: "We have had a blast! Thanks for all of the support we have had from our regulars, they will be missed."

Welsh footfall growth the strongest in the UK despite cooling on January

Retail footfall in Wales increased in February but at a slower rate than January, shows latest research from the Welsh Retail Consortium. Footfall, defined as shoppers entering a store, in February was up 2.% year-on-year (YoY) compared to a 8.5% rise in January. The rise in February was the highest of any nation or region of the UK, followed by the north west of England at 1.9% and London and the west Midlands at 1.8%. For England it rose by just 0.2%, while in Northern Ireland it was down 0.1% and Scotland 0.3%. The biggest fall was in Yorkshire and the Humber, down 3.5%. Shopping centre footfall in Wales YoY decreased by 1.5% in February, down from 8.6% in January. Retail park footfall increased by 2.9% in February YoY, down from 9.8% in January. Footfall in Cardiff decreased by 1.8% (YoY), down from 9.1% in January. Of the core cities of the UK the fall in February in Cardiff was only greater in Liverpool, down 2.5%, Bristol, 5.2%, and Leeds 5.6%. The biggest rise was in Birmingham at 5%. FOOTFALL BY NATION AND REGION GROWTH RANK NATION AND REGION Feb-25 Jan-25 1 Wales 2.7% 8.5% 2 North West England 1.9% 7.7% 3 London 1.8% 6.7% 3 West Midlands 1.8% 10.0% 5 South East England 0.4% 9.4% 6 England 0.2% 7.4% 7 Northern Ireland -0.1% 3.5% 8 Scotland -0.3% 1.0% 9 East of England -0.8% 8.5% 10 North East England -1.0% 6.8% 11 East Midlands -1.3% 6.4% 12 South West England -1.4% 7.9% 13 Yorkshire and the Humber -3.5% 3.3% TOTAL FOOTFALL BY CITY GROWTH RANK CITY Feb-25 Jan-25 1 Birmingham 5.0% 14.3% 2 Manchester 3.9% 10.3% 3 Edinburgh 1.9% 2.8% 4 London 1.8% 6.7% 4 Belfast 0.1% 4.8% 6 Nottingham -0.3% 6.7% 7 Glasgow -1.1% 1.9% 8 Cardiff -1.8% 9.1% 9 Liverpool -2.5% 3.2% 10 Bristol -5.2% 6.2% 11 Leeds -5.6% 1.0% Sara Jones, head of the Welsh Retail Consortium, said:“Shopper footfall across all Welsh retail destinations faltered in February, dipping over 5% compared to the previous month. That said, February still saw healthy year on year growth, the best of the four home nations. “Shopper numbers picked up substantially in the last week of February, no doubt helped by the late half term and start of spring weather, coinciding with the benefits of a St. David’s day uptick. “Confident consumers and buoyant household disposable incomes are critical to the health of the retail industry and all who rely on it, including our colleagues and our wider communities. As we approach the two-year anniversary of the Welsh Government’s retail action plan it will be time to take stock on what more can be achieved to cement the future of the retail industry in Wales. With an onslaught of additional government-mandated costs in the pipeline from April, bold decisions will be needed to help safeguard the sector and to help it flourish rather than falter in the years to come.” On the UK picture Andy Sumpter, retail consultant for Sensormatic Solutions, which carried out the research, said: “After January’s jump-start, retail footfall in February stalled, with retailers seeing a more modest improvement compared to 2024 last month. "While the good news is that shopper counts remained steady, many would have been hoping for a more substantial leap building off a strong start to the year. Retail Parks, consistently one of the top performers in 2024, once again outstripped other retail destinations in February, as the convenience and choice built into their retail offerings again proved popular with customers. " With Easter falling late and well into April this year, this will, undoubtedly, put added pressure on retailers as we head into March. To plug the gap, retailers have an opportunity to create compelling reasons to visit and enhance their offerings with greater convenience and choice, which have been the standout strengths of retail park performance.”

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Supermarkets see varied fortunes amid rising sales with Asda continuing to struggle

UK supermarket sales outpaced inflation in February as consumers sought budget-friendly indulgences. According to Kantar, take-home sales from grocers increased by 3.6 per cent in the four weeks leading up to 23 February, while prices saw a 3.3 per cent rise, as reported by City AM. However, this overall figure conceals a disparity among the UK's leading supermarkets. Asda witnessed a decline in sales, whereas Tesco and Sainsbury's managed to expand their market share. Grocery prices have been on an upward trajectory since August last year, but the growth rate is significantly lower than the double-digit figures observed during the cost-of-living crisis. Despite this, sales continue to lag behind inflation. Kantar reported that food inflation remained unchanged month-on-month. Prices are escalating most rapidly in sectors such as chocolate confectionery, juices and butters, while they're dropping fastest in cat and dog food, laundry and household paper products. Spending on deals experienced another surge in February, with purchases made on offers now representing 27.6 per cent of sales, a 0.3 percentage point increase compared to last year. Sally Ball, Kantar's head of retail, commented on the trend: "[One of the big headlines of the past few years has been consumers' hunt for value," She added, "You might think that people would shop around more to find the best deals but in fact, that's not the case. Households visited just under five different grocers this month, the lowest level in February since 2021. "The growth of supermarket loyalty schemes is partly behind this as shoppers use them to unlock exclusive discounts." Asda's sales continue to decline, with revenues totalling £4.6bn in the 12 weeks leading up to 23 February, marking a five per cent decrease year on year. The TDR-owned chain remains the only major grocery retailer to have lost market share over the past year. Asda has been tackling challenges such as competition from discounters Lidl and Aldi, substantial debt, strike actions, and costly separation from its former owner's IT infrastructure. Tesco has maintained its status as the UK's largest supermarket, capturing 28.3 per cent of the market with over £10bn in sales. Meanwhile, Sainsbury's also saw positive movement, nudging its market share from 15.5 per cent to 15.7 per cent compared to the same period last year. Morrisons now claims 8.6 per cent of the market share. Ocado experienced the fastest growth among retailers for the tenth month in a row, with spending surging by 9.6 per cent – holding steady with a 1.9 per cent market share. Aldi celebrated a market share of 10.3 per cent after enjoying a 4.9 per cent increase in sales – its most significant boost since January 2024.

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Pukka Pies warns price rises are 'inevitable' as it battles 'significant' inflation

Pukka Pies, a staple in chip shops across the UK, has warned that price increases are "inevitable" as it grapples with "significant levels of power and labour inflation." The Leicester-based firm revealed that it had postponed price hikes during its most recent financial year to "assess the mid to long-term implications from the underlying inflation", but has since determined that rises are necessary, as reported by City AM. These remarks were included in the company's accounts for the financial year ending 25 May, 2024. Over this period, the company saw its turnover rise from £79.1m to £85.2m, while pre-tax profit fell from £6.7m to £3.4m, according to newly-filed accounts at Companies House. The firm's UK turnover increased from £78.7m to £84.7m, and European sales rose from £353,527 to £493,707. Elsewhere in the world, turnover grew from £8,749 to £12,992. Founded by the Storer family in 1963, Pukka Pies initiated an investment search in March 2024, leading to a corporate restructure. A statement approved by the board read: "The directors are satisfied with business performance during its first year of trading as a group following the corporate reorganisation which inserted two new companies into the corporate structure." Pukka Pies also noted that its turnover increase was due to new product launches, gaining new customers, improved distribution among existing customers, and growth in the retail category. The directors expressed their satisfaction with the company's operating profit before exceptional items, which dropped from £6.8m to £4.5m, citing the long-term benefits expected from a recent corporate restructuring. Pukka Pies commented: "Over the course of the financial period the group has seen significant levels of power and labour inflation." The firm initially delayed implementing higher sales prices to evaluate the mid to long-term implications of underlying inflation but has since concluded that price increases are inevitable over the next 12 months. Regarding its future, Pukka Pies stated: "The group continues to build brand awareness and the directors expect the business to grow over the coming years."

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Airbnb's top boss in UK and Northern Europe quits after four years in role

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Historic Preston Guild festival looks set to continue despite council abolition

Efforts are underway to ensure the historic Preston Guild festival continues despite the dissolution of the council that organises it. The once-every-20-year city celebration, which has a history spanning over 800 years, is next scheduled for 2032 – four years after Preston City Council is expected to be disbanded. The council, along with Lancashire's 14 other councils, is due to be erased as part of a major government-led overhaul. Preston will then be incorporated into a new, larger council covering a broader and yet-to-be-determined area. In light of this, Preston City Council has agreed to start organising the 2032 event slightly earlier than usual in an effort to ensure its occurrence even after the local authority has disappeared. A city council meeting revealed that the typical preparation time for a Guild is between four and five years, aligning exactly with the probable timing of the council's dissolution. Consequently, councillors voted to set up the Guild Committee, responsible for planning the festival, a full seven years ahead of the renowned extravaganza. Deputy council leader Martyn Rawlinson has emphasised the importance of the historic Preston Guild event, noting that preparations can begin even at this early stage. He said: "We want to respect the traditions and carry [them] on – that's 800 years of tradition. "It sets down a marker [as to] how important this is to Preston – and hopefully we can protect it whatever happens in the next few years." He added that the council wanted "to make a statement that Preston Guild must go ahead". The cross-party committee of five councillors will start with £500,000 of funding to organise the Guild. However, as with previous events, a distinct budget group is likely to be formed closer to the date to manage the significantly larger funds required for the occasion. In 2012, the ten-day celebration cost £5.4m, an amount expected to be reached again by the next Guild. A large share of the budget will be sourced from the half-percent allocation of council tax revenue earmarked for the Guild since 2023, which will continue annually until the 2032 festival. Cllr Rawlinson has emphasised the need for additional resources to ensure the next city gathering surpasses previous events in scale and quality. He has previously estimated that the 2032 Guild could cost twice as much as the one in 2012, with a portion of the expenses typically offset by grants, sponsorship, and merchandise sales. Liberal Democrat deputy opposition leader Neil Darby acknowledged the establishment of the Guild Committee but criticised Labour for lagging behind, noting that his party and some local businesses had been advocating for its formation for "a couple of years". However, Cllr Rawlinson dismissed the notion that the Guild was at risk of being "forgotten about or neglected". Sharoe Green ward councillor Connor Dwyer said the city council needed to convey to its successor the significance of the Guild and Preston's other "civic traditions", suggesting that a formal proposal be made for the new authority to create a dedicated committee to safeguard these practices. Preston's Guild dates back to 1179, following King Henry II's granting of a Royal charter to the city, which included the right to have a Guild Merchant. Since 1542, the events have been held every two decades, with the exception of a wartime absence in 1942, leading to a delayed Guild a decade later before its regular schedule was resumed.

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Liverpool confirm 'multi-year' Adidas kit deal as Reds target big revenue hike

Liverpool have announced that Adidas will become their new kit partner from the beginning of the next season, following the conclusion of their current agreement with Nike at the end of the 2024-25 campaign. Reports from October indicated that the German sportswear brand had secured the tender to collaborate with the Reds, outbidding rivals including the incumbent kit supplier Nike and competitor Puma. The club has now revealed a 'multi-year deal', which is understood by the Liverpool Echo to span five years. It will be the third deal Liverpool has had with Adidas. The Reds anticipate a revenue boost from this new alliance. CEO Billy Hogan said: "Everyone at the club is incredibly excited to welcome Adidas back into the LFC family. "We have enjoyed fantastic success together in the past and created some of the most iconic LFC kits of all time. Adidas and Liverpool share an ambition of success and we couldn't be more excited to partner together again as we look forward to creating more incredible kits to help drive on pitch performance. We'd like to thank Nike for their support over the last five years and wish them well for the future." The partnership is set to commence on August 1, 2025, with Nike's designs being worn until the end of this season. In the past, new kits have often been unveiled before the season's end. However, with Liverpool on the cusp of a Premier League title and still vying for UEFA Champions League success, Nike aims to capitalise on the brand's exposure and partnership until the very end. Liverpool and Adidas have collaborated during some of the club's most triumphant eras and iconic trophy wins, initially from 1985-1996 and again from 2006-2012. During this period, the Reds secured numerous accolades, including three top-flight domestic league titles and three FA Cup victories. Bjørn Gulden, Adidas CEO, stated: "We are extremely excited that adidas and Liverpool Football Club are teaming up once again. The club is one of the biggest and most iconic names in world football with a huge fan base. "The jerseys worn during previous partnerships are some of the greatest ever created. We are honored to once again provide the players with cutting-edge technology to perform at the highest level and are looking forward to creating more classics for the fans." Although the deal's value to the Reds has not been disclosed, it is reportedly in the vicinity of £65million-plus, placing the club in the same guaranteed earnings bracket as Arsenal, Manchester City, and Chelsea. Furthermore, the potential for a percentage of LFC/Adidas merchandise sales could increase the deal's value even more. The club entered into a deal with Nike in 2019 for a fixed £35million per year. While the guaranteed annual sum was significantly lower than their competitors, it was substantially boosted by an additional 20% of sales from LFC/Nike merchandise reverting to the club, pushing the annual income beyond £60million. Liverpool have capitalised on relationships with such luminaries as Fenway Sports Group partner and basketball legend LeBron James, resulting in a special merchandise line, while a range with Nike's sister brand Converse was also launched. Last week, UEFA published its annual European Club Finance and Investment Report, which examines financial trends across the continent's football landscape and sheds light on some of the unseen factors that contribute to fielding a successful team. According to the latest report, Liverpool's kit and merchandising revenue generated €146million (£122.7million), slightly edging out Manchester United who sit in fifth place. For Liverpool, this meant that kit and merchandising revenue accounted for 19% of total revenue for the 2023-24 financial year - an increase of 11% compared to the same period 12 months earlier. Details of the new Adidas Liverpool kits - home and away - will be unveiled via club and Adidas channels and will be available for purchase from August 1, 2025.

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Applied Nutrition seals USA and Holland & Barrett deals as its Coleen Rooney range expands across UK

Health and wellness brand Applied Nutrition has announced three new American deals – and an expanded partnership with Holland & Barrett that will see its new Colleen Rooney range go on sale in hundreds of UK stores. Knowsley-based Applied Nutrition has agreed a joint business plan with Holland & Barrett that will see the health and wellbeing retail chain increase the distribution of currently listed products and take a range of new ones. The Mersey firm said: “The first order under the new JBP was received this month and included the new Coleen Rooney range, which will be available in 500 stores” The deal will also see Holland & Barrett get early access to Applied Nutrition’s new products in development, allowing them to get products to their shelves more quickly. Applied Nutrition hopes the deal will treble its revenue from Holland & Barrett, already one of the group’s largest customers. In the USA, Applied Nutrition has secured deals with GNC Corporate, one of the largest specialty retailers in the US, Hy-vee, the largest regional grocery chain in the Midwest, and leading Texan grocery chain H-E-B. Applied Nutrition products will now go on sale in more than 1,000 new stores across the country, and the group says the deals “are expected to start contributing to revenue during H2 FY25 with an annualised spend of $3m”. Thomas Ryder, CEO of Applied Nutrition, said: “It is great to see such momentum with existing and new customers, further reinforcing the growth potential of the business. Not only are we significantly strengthening and growing our trade with existing key valued partners such as Holland & Barrett we are also securing new listings from major retailers in the US which is a key growth market. We look to the future with confidence and we remain focused on driving profitable growth throughout H2 and beyond.”

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Deliveroo swings to first full year profit as orders jump in UK and Ireland

A surge in takeaway and grocery orders across the UK and Ireland helped Deliveroo turn a profit last year. The food delivery firm informed markets this morning that its gross merchandise value (GTV) rose by five per cent to £7.4bn for the year ending December 31, up from £7bn the previous year, as reported by City AM. The company reported an annual profit of £2.9m, a significant improvement from a loss of £31.8m the year before. Revenue increased two per cent year on year, from £2.03bn to £2.07bn, while gross profit climbed six per cent to £767m. Deliveroo also saw a two per cent growth in its customer base during the year, with average order frequency increasing across all groups and improved retention throughout the year. "The robust results we've announced today, with our first full year profit and positive free cash flow as well as GTV growth across our verticals, demonstrate that our strategy is working," said Will Shu, Founder and CEO of Deliveroo. "Whilst the consumer environment remains uncertain, I am confident that we can continue to deliver growth by focusing on the levers in our control: supporting our restaurant partners to meet untapped consumer demand around new occasions, expanding our grocery and retail offering, and continuously improving our CVP [consumer value proposition]." The company aims for high-single GTV growth in 2025 and expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to be in the range of £170m-190m. In the medium term, it will target mid-teens percentage growth per year in GTV, and an EBITDA margin of four per cent. Deliveroo also announced its exit from the Hong Kong market on March 10, which led a London broker to label the brand "underappreciated". "Both earnings before interest, tax, depreciation and amortisation (EBITDA) and group GTV growth [revenue] are set to benefit from this market exit," Panmure Liberum analysts said.

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M&S defies National Insurance hike to increase staff pay by 5%

Marks and Spencer has unveiled a £95m wage boost for its retail personnel, notwithstanding the "cost pressures" emanating from government actions. Beginning 1 April, pay rates for UK Customer Assistants will climb from £12 to £12.60 an hour, marking a 5% year-on-year increase and a 26% rise since 2022 — surpassing the government's new national living wage of £12.21 per hour, as reported by City AM. M&S Chief Executive Stuart Machin commented, "Following the Government's recent increases in tax and national insurance contributions, it's no secret that M&S and indeed the entire retail sector has some significant cost headwinds to face into in the new financial year." He further stated, "However, I have always believed that we should not allow these headwinds to impact our hourly paid colleagues, which is why today, for the third year in a row, we are making a record investment in our retail pay offer. "This means we have now invested almost £300m in our pay over the past three years, well above the rate of inflation, in addition to our market-leading discount and pension offer for colleagues," he added. Before this declaration, Marks and Spencer predicted that the uptick in employers' national insurance (NICs) would push their wage bill up by £120m — a number anticipated to grow. The NIC changes, notably the lower threshold adjustment, took many businesses by surprise, especially those dependent on part-time work in sectors such as hospitality and retail. According to research by UKHospitality, changes to national insurance contributions (NICs) will result in an additional £2,500 expense for employing the average worker. Earlier this year, M&S joined a prominent group of retailers in cautioning the Treasury that hundreds of thousands of retail jobs were under threat due to unsustainable cost increases. At the time, Machin expressed that "retail is being raided like a piggy bank and it's unacceptable".

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High Street shops, pubs and restaurants face £1bn tax bill from April

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