Business
Superdry Closes Bradford Store Due to Rising Costs and Fewer Shoppers
High street fashion retailer Superdry is closing its Bradford Broadway store today, marking another chapter in the ongoing challenges faced by traditional retail outlets. The store is hosting a significant clearance sale, offering customers substantial discounts as it prepares to shut its doors for good.
This closure is part of a trend affecting the UK’s high streets. In 2024, approximately 13,479 retail stores closed across the country, equating to an average of 37 closures per day—a 28% increase from the previous year. The Centre for Retail Research anticipates that this trend will continue, forecasting around 17,350 retail site closures in 2025.
Several factors contribute to these widespread closures:
- Shift to Online Shopping: Consumers are increasingly favouring online shopping platforms, reducing foot traffic in physical stores.
- Rising Operational Costs: Retailers are grappling with escalating expenses, including higher national insurance contributions and increased minimum wage requirements.
- Economic Pressures: High inflation rates have led to reduced consumer spending, impacting retailers’ revenues.
Other retailers, such as Beales and New Look, are also closing various branches due to financial pressures. Beales, for instance, will close its last remaining store in Poole on May 31, while New Look plans to shut nearly 100 outlets.
The decline in traditional high street shopping has resulted in significant job losses, with nearly 170,000 retail jobs lost in 2024 alone, marking the highest annual loss since 2020. Experts predict that 2025 may bring even worse outcomes for retail jobs and store closures.
Dangote Petroleum Refinery has lowered the price of Premium Motor Spirit (PMS), or petrol, to N825 per litre, down from N835, as competition heats up in Nigeria’s fuel market.
This follows last month’s price reduction, when the 650,000 barrels per day refinery dropped the price from N865 to N835. The recent price change is aimed at providing more value to customers while strengthening Dangote’s position as a leader in the domestic market.
Skype, once a go-to platform for video and voice calls, is officially shutting down today, May 5, marking the end of its 22-year journey connecting people around the globe. The app was one of the first to revolutionize online communication, offering free calls over the internet long before it became common.
During its prime in the mid-2010s, Skype boasted over 300 million active users each month. Microsoft bought Skype in 2011 for a massive $8.5 billion, planning to make it a key part of its communication tools. However, as newer apps like WhatsApp, Zoom, and even Microsoft’s own Teams grew in popularity, Skype slowly lost its place.
In February, Microsoft announced it would officially shut down Skype on May 5 to focus more on Teams, which now handles most of its communication services. This move affects both free and paid users, although Skype for Business will stick around for a little longer.
Business
United Bank Of Africa, UBA, Delivers 23% Total Dividend for 2024, CEO Promises More to Come
United Bank of Africa, UBA, pays 171 Billion in total to its shareholders for the 79 percent increase for 2024.
This information was revealed during the 63rd Annual General held on the 25th of April, 2025. The UBA shareholders approved of the 3 naira dividend share, which will com bine with 2 naira interim dividend and will represent a 23 percent total dividend for 2024 in total.
It can be noted that UBA now has the highest Nigerian stocks and the CEO, Oliver Alawuba has assured the shareholders of the dividends that will be paid.”What we can assure our shareholders today is that UBA will continue to pay more dividends.”
Tolu Arokodare Makes History as Sixth Nigerian to Win the Ebony Shoe Award
Gary Neville Says Man United Must Sell at Least 10 Players to Fix the Team
UNIZIK Lecturer Tells JAMB Registrar to Resign Over UTME Failure
-
Politics23 hours agoOshiomhole Says Tinubu Would Easily Win a Free and Fair Election
-
Sport24 hours agoScaloni Snubs Messi and Names Mbappé and Yamal as World’s Best
-
Entertainment24 hours agoDavido: “I’m Nigeria’s Most Hated Artist Because of My Rich Family”
-
Sport23 hours agoAncelotti Says Rodrygo Is Sad and Sidelined by Leg Injury and Fever
-
Sport23 hours agoXabi Alonso Ditches Vacation to Start Real Madrid Job Early
-
Entertainment18 hours agoTory Lanez’s Team Confirms Rapper Was Stabbed 14 Times in Prison, Shares Update
-
Entertainment19 hours agoActress Halle Bailey Granted Restraining Order Against Ex DDG Amid Abuse Claims
-
Entertainment19 hours agoSinger Davido Praises Lagos Nightlife as World’s Best, Fans Share Mixed Reactions