Fellow listed retailers Boohoo, Debenhams and Huddled also release trading updates amid sector-wide pressures

A raft of trading statements from London-listed retailers has shed light on the ongoing tussle for sales between online platforms and bricks-and-mortar stores, as household budgets remain squeezed.

FTSE 250 retailer B&M has revealed an almost 50% plunge in annual profit during what it described as a “difficult year”.

It was the most striking development in a flurry of updates from London-listed retailers on Wednesday.

They underscored the competitive struggle playing out across the sector between conventional stores like B&M and their own digital operations, alongside newer internet-only players such as Peeko, and one established former high-street heavyweight, Debenhams, which has now shifted entirely to an online model.

B&M reported a drop of more than 47% in group profit before tax to £227m for the year ending 28 March, from revenue of £5.8bn, down 3.6%, as reported by City AM.

Tjeerd Jegen, chief executive of the discount homeware and grocery retailer, characterised it as “a difficult year that saw profits fall due to a challenging market and execution issues”.

He noted that the 700-store chain unveiled a turnaround strategy in October aimed at “restore like-for-like sales growth at B&M UK”.

The business also operates roughly 150 locations in France.

Over the year, like-for-like sales — those from shops trading for at least a year — declined by 0.1%. Jegen added: “The past six months has seen us sharpen our pricing, improve on-shelf availability in best-selling brands and revamp our in-store promotions.”

Current deals include Visage Pour Homme aftershave at £3.99 and an eight-pack of Duracell AA batteries for £4.50, while a box of 200 Yorkshire Tea bags is priced at £5.79.

Jegen added B&M was “confident we can offset rising energy costs in the year ahead through cost mitigation, the benefits of which will flow through to our bottom line once we have returned B&M UK like-for-like sales to growth”.

The Liverpool-based retailer was founded in Blackpool in 1978 and today employs approximately 35,000 staff, serving around 4m shoppers each week. It held a position in the FTSE 100 before being relegated from the prestigious index in 2024 following a four-year stint.

Competition across the retail sector has been fierce as financially stretched consumers have reined in discretionary spending amid successive waves of inflation, driven by soaring energy costs and rising prices triggered by Russia’s invasion of Ukraine in 2024.

The war in Iran waged by the US and Israel this year has fuelled the latest surge in global oil prices, which looks set to have a comparable knock-on effect.

As unavoidable costs continue to climb, new research published this week from Vanquis — the banking firm specialising in providing credit to consumers who may struggle to obtain it elsewhere — has caught the attention of industry observers. Nearly a third of respondents to its Financial Wellbeing Index are relying on credit to meet everyday expenses, the research revealed. It also found that energy bills have surged by 17% over two years.

The study identified groceries as one of the most frequent triggers for using up savings, cited by 25 per cent of respondents, followed by car repairs at 19 per cent and utility bills at 17 per cent.

With household budgets stretched to their limits, Wednesday also shed light on the mounting challenges facing conventional retailers as purely digital rivals continue to gain ground.

The findings came from Huddled, a London-listed company behind the Peeko website, which offers discounted surplus stock from a variety of suppliers.

Revenue reached £4.2m in the first quarter of 2026, down slightly from £4.4m during the same period the previous year, reflecting a “strategic decision to moderate volume while structural issues were addressed.”

The most striking figures related to customer activity on the platform. Between January and April, the site processed 86,000 orders, with an average order value of £37 and a product margin per order of £17.

Huddled positions Peeko as “an online Costco”, currently stocking Comfort Professional Sensitive Classic Fabric Cleaner in 4.8 litre packs for £6.99, alongside boxes of 24 Mars Bars for £12.99. Martin Higginson, Huddled’s chief executive, said: “We have a great value proposition, next-day delivery, genuine customer loyalty, and the margins to justify scaling. The hard part is done. What comes next is the exciting part.”

The owner of the Debenhams brand also released an update that echoed these recent trends.

Once a well-established fixture on the British high street, Debenhams boasts a heritage stretching back to 1778, when it began life as a drapers’ shop at 44 Wigmore Street in London’s West End. The business adopted the Debenhams name in 1813 when William Debenham invested in what had previously traded as Flint & Clark.

By the 2020s, however, the retailer was in serious difficulty. Boohoo snapped up the brand for £55m in January 2021 in a deal that excluded the physical stores and their workforce. At that point, 118 department stores remained in operation, all of which had shut their doors by the end of May that year.

Today, Debenhams is positioned by its Manchester-based parent company as “Britain’s online department store”.

Boohoo reported that during the first quarter to the end of May, “momentum in the Debenhams Group multi-year turnaround accelerated”. Gross Merchandise Value climbed by 0.5% year-on-year, with trading in May described as “particularly strong”.

Boohoo also operates its own-name website alongside the PrettyLittleThing brand. The company announced today that gross margins in the first quarter to May reached 53.5 per cent, up from 52.1 per cent the previous year. Returns dropped by approximately 5 per cent, while exceptional costs were slashed by 72 per cent and capital expenditure reduced by 54 per cent year-on-year.

Chief executive Dan Finley said: “Debenhams Group has returned to growth, and Q1 marks the inflection point we have been working towards.

“This is the result of the heavy lifting of our multi-year turnaround: the move to an asset light marketplace model, the warehouse consolidation, the cost reset, and the rebuild of every brand on a single proprietary platform.”

The contrasting fortunes among London-listed retailers lay bare the pressures facing an industry that contributes around £490bn in annual sales to the UK economy in 2025 — and one that also stands as the largest private sector employer, accounting for roughly 3m jobs.

City investors will be keeping a close eye on developments, eager to distinguish the sector’s winners from its losers as this vast industry continues to evolve.

Wednesday’s announcements were warmly received by the markets. B&M’s shares surged 17 per cent to 199p, Huddled climbed 7 per cent to 0.78p, and Boohoo rose more than 11 per cent to 21p.

Peel Hunt analyst Jonathan Pritchard, assessing B&M’s results, noted they “were a beat versus our and consensus expectations” with earnings around “2% clear of hopes”. He continued: “There are a lot of things going on at B&M, and some of the ‘back to basics’ plans are clearly having an impact.”

Paladin Energy Ltd shares jumped more than 11% on Wednesday, closing at $11.85 after gaining $1.22, as investors bet on continued strength in the global uranium sector amid rising nuclear energy demand and the company’s solid production ramp-up at its flagship Langer Heinrich mine in Namibia.

The Australian-listed uranium producer, also traded on the TSX under PDN, saw heavy trading volume as broader sector optimism lifted several peers. Paladin’s market capitalization climbed toward $4.8 billion following the sharp daily move, reflecting renewed confidence in its growth trajectory as a significant independent uranium supplier.

The surge comes amid a favorable backdrop for uranium companies. Global interest in nuclear power as a reliable, low-carbon energy source has intensified, driven by data center electricity needs for artificial intelligence, energy security concerns in Europe, and policy support in multiple nations. Spot uranium prices have remained elevated throughout 2026, supporting producer margins.

Paladin’s primary asset, the 75%-owned Langer Heinrich Mine in Namibia, has been a key driver of recent performance. The company has successfully ramped up production at the restarted operation, achieving consistent output improvements and cost efficiencies. Recent quarterly reports highlighted sequential gains in uranium production and sales, with the mine approaching target capacity levels.

In its March 2026 quarter update, Paladin revised full-year production guidance upward by 11%, signaling confidence in operational delivery. The company reported strong sales revenue and maintained disciplined cost control despite industry-wide inflationary pressures on mining inputs.

Chief Executive Officer Ian Purdy has emphasized the strategic positioning of Langer Heinrich in a tightening uranium market. The mine’s large-scale, low-cost profile positions Paladin to benefit from long-term contracts with utility customers across the United States, Europe and Asia.

Analysts largely maintain positive outlooks on the stock. Consensus price targets hover around A$13.00-A$13.20, implying additional upside from current levels, with some forecasts reaching as high as A$17. Several brokers cite the company’s robust balance sheet, exploration portfolio in Canada and Australia, and exposure to structural supply deficits as key attractions.

Paladin also holds development assets such as the Patterson Lake South project in Canada’s Athabasca Basin, one of the world’s premier uranium districts. Progress on regulatory approvals and feasibility work at these sites adds longer-term growth potential beyond current production.

The company’s financial turnaround has been notable. For the nine months ending March 31, 2026, Paladin swung to a modest net profit from prior losses, supported by higher realized prices and volumes. While some cash flow metrics drew scrutiny, overall liquidity remains solid with substantial working capital.

Uranium market fundamentals underpin the optimism. Supply constraints persist due to years of underinvestment following the Fukushima disaster, while demand forecasts continue rising. Utilities are securing long-term supply agreements, often at premium prices, to ensure fuel security for reactor fleets.

Namibia, home to Langer Heinrich, has emerged as a stable and attractive jurisdiction for uranium mining. The country offers established infrastructure and government support for resource development, helping Paladin accelerate its ramp-up schedule.

Investors appear to be rewarding Paladin’s execution after earlier volatility. The stock has delivered strong multi-year gains, though it experienced pullbacks during periods of sector-wide corrections. Wednesday’s 11.48% advance recouped some recent ground and pushed the shares closer to 52-week highs seen earlier in 2026.

Broader sector dynamics also played a role. Several other uranium developers and producers posted gains amid positive sentiment around nuclear energy’s role in global decarbonization. Paladin’s relatively pure-play exposure makes it a favored vehicle for investors seeking leveraged upside to uranium prices.

Risks remain, however. Uranium prices can be volatile, and any slowdown in reactor restarts or new builds could pressure the market. Operational challenges at Langer Heinrich, such as processing plant reliability or labor issues, could affect guidance. Geopolitical factors in Africa and regulatory hurdles in Canada represent additional considerations.

Paladin has worked to mitigate these through diversified project pipelines and conservative financial management. The company completed equity raisings in prior periods to strengthen its balance sheet, providing flexibility for development and potential acquisitions.

Looking forward, analysts expect Paladin to generate increasing free cash flow as Langer Heinrich reaches steady-state production. This could enable dividend considerations or accelerated investment in its exploration portfolio. The company continues to engage with substantial holders and institutional investors, as evidenced by recent shareholding disclosures.

For retail and institutional investors alike, Paladin represents a compelling way to gain exposure to the nuclear renaissance. Its scale as a producing entity distinguishes it from pure explorers, while growth projects provide upside optionality.

Market watchers will closely monitor upcoming quarterly production reports and any updates on Canadian asset advancements. With the Northern Hemisphere summer traditionally a quieter period for uranium news, any positive surprises could sustain momentum.

Paladin’s dual listing on the ASX and TSX broadens its investor base, particularly appealing to North American funds interested in critical minerals and clean energy plays. Trading liquidity has improved as the company’s profile rises alongside the uranium sector.

As global energy policies evolve, Paladin’s ability to deliver reliable uranium supply positions it favorably. Wednesday’s sharp share price reaction underscores the market’s appetite for high-quality operators in this space, especially those demonstrating both current production and future growth potential.

The uranium story remains intact despite periodic volatility, with many experts forecasting multi-year strength. For Paladin Energy, sustained operational success at Langer Heinrich could translate into further shareholder value as the company solidifies its role in the global nuclear fuel supply chain.

Axis warns that higher crude oil prices, rupee weakness, inflation and a weak monsoon remain important risks. It advises investors to keep 10-15% liquidity available and focus on high-quality companies with strong balance sheets and earnings visibility.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

It will partner with main contractor Bouygues UK

Fabricator Dudley’s Aluminium is supporting the construction of two campuses for Cardiff and Vale College in the Vale of Glamorgan.

Dudley’s will be partnering with main contractor Bouygues UK on the under construction campuses for the largest college provider in the UK and the biggest in Wales.

The college, in a £119m investment , is delivering a new Barry waterfront campus, a community-focused college in the heart of the town, which will replace its existing ageing Colcot Road campus.

Its Advanced Technology Centre near Cardiff Airport will meet the skills needs of employers, apprentices and those working in advanced technologies. Both campuses are scheduled to open in September 2027.

Cardiff-based Dudley’s and will install metal technology curtain walling, windows and high insulation doors on the builds.

Steve Muir, commercial director at Dudley’s Aluminium, said: “We are thrilled to be working with Bouygues on Cardiff and Vale College’s new campuses in the Vale of Glamorgan. Our proven track record in the education sector will ensure the project is delivered to high standards, providing quality teaching and learning environments that meet the needs of students, employers and the wider community.”

Since 1993, Dudley’s Aluminium has provided full in-house design, fabrication and installation capabilities, completing projects across the education, health, commercial, retail, residential and defence sectors throughout the UK and Channel Islands.

NEW YORK — Palantir Technologies Inc. shares have delivered substantial gains in recent years but now trade at elevated valuations as the data analytics company capitalizes on surging demand for artificial intelligence platforms across government and commercial sectors in 2026.

As of early June, Palantir stock closed around $152 after recent volatility, reflecting both strong fundamental performance and investor concerns over premium multiples. Wall Street maintains a moderate buy consensus, with average 12-month price targets near $193, implying roughly 27% upside from current levels.

The company reported exceptional first-quarter results in May, with revenue reaching $1.633 billion, an 85% increase year-over-year. U.S. revenue grew 104%, driven by 133% growth in commercial sales and 84% expansion in government contracts. Palantir raised its full-year 2026 revenue guidance to $7.65-$7.66 billion, signaling 71% growth.

CEO Alex Karp highlighted the accelerating U.S. market as central to the company’s trajectory. “Momentum surged as we grew 85% last quarter — our highest-ever year-over-year growth rate — by more than doubling our U.S. business,” he stated in the earnings release.

Palantir’s Artificial Intelligence Platform (AIP) has become a key growth driver, enabling organizations to deploy AI rapidly while maintaining data governance. Strong adoption in both defense and enterprise segments has fueled optimism, with major contracts including a $300 million deal with the U.S. Department of Agriculture.

Analysts largely favor the stock. Of 31 covering firms, 19 rate it buy, 10 hold and two sell. Consensus targets range from a low of $90 to a high of $255, with many citing continued commercial momentum and government tailwinds.

Supporters point to Palantir’s sticky customer relationships and expanding addressable market. The company’s focus on large deals exceeding $1 million has yielded consistent total contract value growth. Its platforms serve critical national security needs while expanding into commercial applications like supply chain optimization and financial services.

However, valuation remains a central debate. Palantir trades at forward price-to-earnings multiples exceeding 150 times, far above traditional software peers. Critics argue that any slowdown in AI spending or execution challenges could trigger significant multiple compression.

Recent pullbacks, including a drop from 2025 highs near $207, have created entry points for some investors. Rosenblatt analysts described the dip as a buying opportunity, citing robust earnings momentum and defense-AI synergies.

Risks include heavy dependence on government contracts, which can face budgetary and political uncertainties. Insider selling by executives, including CEO Alex Karp, has also drawn attention, though such activity is common in growth companies with substantial equity compensation.

On the positive side, Palantir’s Rule of 40 score — combining revenue growth and profitability — reached 145% in the first quarter, demonstrating exceptional balance between expansion and margins. Adjusted operating margins hit 60%, with strong free cash flow generation.

Commercial growth represents the biggest upside catalyst. U.S. commercial revenue guidance was raised sharply, reflecting accelerating enterprise adoption of AI tools. Analysts expect this segment to become an even larger contributor as more Fortune 500 companies integrate Palantir’s platforms.

The company’s dual focus on government stability and commercial upside differentiates it from pure-play AI hardware firms. While competitors face cyclical semiconductor demand, Palantir benefits from recurring software revenue and platform lock-in effects.

Broader market context influences the outlook. Strong AI enthusiasm has supported technology stocks, but higher interest rates and potential economic slowdowns could pressure high-valuation names. Palantir’s beta makes it sensitive to shifts in risk sentiment.

Longer-term forecasts remain constructive. Some analysts project Palantir could reach $225 per share by early 2027 if earnings growth continues beating expectations. The company has consistently exceeded consensus estimates, often by double-digit margins.

For buy-and-hold investors, the case rests on Palantir establishing itself as essential AI infrastructure. Its ontology-based approach to data integration offers advantages in complex environments where competitors struggle.

Skeptics highlight execution risks and competition from larger cloud providers and specialized AI firms. Sustaining triple-digit commercial growth will require flawless delivery and continued innovation.

Portfolio allocation matters. Growth-oriented investors with high risk tolerance may add to positions on dips, while conservative accounts might limit exposure or wait for better valuation entry points.

Recent trading patterns show heightened volatility. Shares surged on strong earnings but faced profit-taking as some questioned sustainability at current levels. Volume remains robust, indicating sustained investor interest.

Palantir’s balance sheet strength provides flexibility for acquisitions or share repurchases, though the company has prioritized growth investments. Its cash position and minimal debt offer resilience during uncertain periods.

As 2026 progresses, key catalysts include quarterly results, new contract announcements and potential expansion in international markets. The second half of the year could clarify whether commercial momentum can offset any government spending fluctuations.

Investment decisions ultimately depend on individual circumstances, time horizons and risk appetite. While consensus leans bullish, the wide dispersion in price targets reflects genuine debate over appropriate valuation for a high-growth AI software leader.

Palantir has transformed from a niche data analytics firm into a prominent AI player. Its 2026 performance will test whether exceptional growth justifies premium pricing or if normalization lies ahead.

Investors should monitor upcoming earnings for sustained U.S. commercial acceleration and margin trends. In a dynamic technology landscape, Palantir’s ability to execute on its ambitious guidance will determine if the stock rewards shareholders over the remainder of 2026 and beyond.