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Stitch Fix, apparel retailers may benefit

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Stitch Fix, apparel retailers may benefit
Millions of Americans are losing weight with GLP-1s. Here’s how that’s changing retail

Michelle Suter has worn mostly big and baggy clothing for years. The 63-year-old retiree who lives in a suburb of St. Louis, Missouri gave away her favorite sundresses and other form-fitting outfits, thinking she’d never be those smaller sizes again.

Now, after losing about 28 pounds while taking GLP-1 drug Wegovy, she said she has started to dream of her new wardrobe.

“That’s part of the excitement — to wear things that are new and fit rather than old clothes that you can tie the drawstring tighter,” she said.

Michelle Suter, a retiree who lives near St. Louis, has been taking a GLP-1 drug and is halfway towards her weight loss goal. Yet already she said she has bought some smaller T-shirts and a pair of Hoka sneakers as her size dropped and she went on longer walks with her two dogs.

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As more U.S. consumers take weight loss and diabetes drugs and shed significant pounds, fashion brands and retailers could have a fresh opportunity — selling to shoppers like Suter who plan to refresh their closets.

Sales of bigger bra sizes have fallen, market research firm Circana said, referring to that as a leading indicator that will likely carry over to other clothing categories. Some retailers, including personal styling service Stitch Fix, have already noticed a jump in the number of customers mentioning weight loss as a reason why they’re shopping for new outfits.

Some of the key barriers to the medications have begun to fade: the drugs are available in pill form, and prices have fallen for people without insurance coverage for them. This week, Eli Lilly‘s GLP-1 pill, Foundayo, started shipping from the company’s direct-to-consumer platform, and it will soon be available at pharmacies and on some telehealth services. Novo Nordisk launched its Wegovy pill in January, and more than 600,000 prescriptions were written for it by February.

As the drugs become more accessible, some analysts and market researchers anticipate demand for clothing will grow — though there are still questions about how many of those on GLP-1s will take them long-term.

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“We can debate the magnitude of it, but what is clear is that there is going to be a tailwind to apparel spending in the U.S as a result of the uptake of these drugs,” said Aneesha Sherman, lead analyst covering U.S. apparel and specialty retail for equity research firm Bernstein. “Up until now, it was really small, and now is where we start to see an inflection.”

About one in every eight U.S. adults, or nearly 13%, is currently taking a GLP-1 drug like Ozempic or Zepbound, according to the KFF Health Tracking Poll conducted from Oct. 27 to Nov. 2. About 18% of respondents said they have taken a GLP-1 medication at some point.

Some estimates are even higher. GLP-1 adoption in the U.S. grew from 11% in November 2024 to 16% in November 2025, according to Bernstein’s annual survey of shoppers. Those surveys were both taken before pills hit the market.

By 2030, more than 30 million Americans could be on a GLP-1 treatment, up from 10 million in 2026, based on JPMorgan estimates.

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A pharmacist displays a box of Wegovy pills at a pharmacy in Provo, Utah, Jan. 15, 2026.

George Frey | Bloomberg | Getty Images

More people losing weight could fuel a shopping spree. About 80% of GLP-1 users said they anticipate needing new clothing due to size changes, according to a survey in January by Circana. It found that 55% of active GLP-1 users have purchased new clothing or footwear, driven primarily by changing sizes, while about 25% updated their wardrobes to refresh their appearance.

If GLP-1 users each drop roughly three sizes and each person buys five to eight items per size they drop this year, that would translate to between 150 million and 700 million apparel items purchased, or a roughly 1% to 4% boost to the total unit volume of clothing sold in the U.S. per year, Bernstein estimated in a report in late March.

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That could mean as much as $13 billion in additional apparel spending per year, the equity research firm found. It based its math on the average selling price of apparel items in the U.S., which is about $18, according to market researcher Euromonitor.

Yet that could be a conservative estimate, Bernstein said, since GLP-1 users have tended to skew higher income than the rest of the population and may opt for more expensive items or brands.

Bras for sale at a Victoria’s Secret store on Fifth Avenue in New York, US, on Thursday, Sept. 4, 2025.

Gabby Jones | Bloomberg | Getty Images

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Early signs of clothing refreshes

GLP-1 drugs slow digestion and suppress appetite, which can help people lose weight along with addressing health conditions including obesity, diabetes and heart attack risk. Already, food and beverage brands and restaurants have taken note of the growing number of people taking the treatments and tried to get ahead of diet changes by emphasizing or adding ingredients like protein and fiber. For example, Starbucks debuted a protein cold foam.

Some beauty retailers have also added or promoted products that can help address potential side effects of the drugs, such as sagging skin. For example, L’Oreal-owned La Roche-Posay introduced a cream and serum, which it tested with GLP-1 users, to help skin look firmer.

But for apparel retailers, the GLP-1 impact on shopping is in the early innings.

So far, the intimate apparel category has seen sizing shifts, according to Circana. In bras, those band sizes of 42+ and cup sizes of D are losing market share, while mid‑range and smaller sizes including band size 40 and B and C cups are gaining share, the company found.

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“Up until this point, we haven’t seen so big of a shift because there are a lot of categories where you can get away with going down a few sizes and not having to shift,” said Kristen Classi-Zummo, an apparel industry advisor for Circana. “Bras have to fit.”

Victoria’s Secret has seen similar trends, according to CEO Hillary Super. She said the intimates and pajama retailer has seen about a 3% swing downward in the bra band sizes and underwear sizes that are selling, which she attributed to GLP-1s in an interview with Fortune in February.

Over the last three months, there’s fresh evidence that sizing changes are spilling into other categories, Classi-Zummo said. Plus-sized clothing for women is losing market share to women’s apparel that’s around size 12 and under, a change from the prior months when plus-sized was growing faster, based on Circana data.

Classi-Zummo said she expects apparel demand from GLP-1 users to accelerate over the next six months.

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Destination XL, a specialty retailer of big and tall men’s apparel, has seen “a lot of volatility” because of GLP-1s, too. On the company’s earnings call in mid-March, CEO Harvey Kanter estimated that as much as 25% of its customers are using the medications. He said GLP-1s are impacting the business more than expected.

Customers are shopping, but are “more needs-driven,” he said. For example, he said, some are buying shirts from its private label brand, Harbor Bay, that cost about $20 instead of shirts from Ralph Lauren that cost about $120 as they continue to lose weight. Others are sizing out of the items it sells. And still others have lost weight on the drugs, but have gone back up in size because they stopped treatment.

“Typically, weight loss of any kind — up or down — is a friend of ours,” he said on the earnings call. “But I think right now, we’re in a pattern where they’re losing weight and they’re on a journey and they’re trying to not to buy clothes until they’re done with that journey.”

Stitch Fix was early to recognize the opportunity of GLP-1 drugs. The company has a dedicated landing page for people who are on the weight loss medications.

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Courtesy: Stitch Fix

A turn to Stitch Fix

Stitch Fix has seen perhaps the most noticeable impact of any apparel retailer so far. CEO Matt Baer said the company recognized the opportunity of weight loss drugs early. Since September 2024, it has run specific marketing campaigns, working with influencers who take the medications and creating a dedicated landing page on its website.

Baer said the company’s business model, which hand-picks items and styles for customers, can help shoppers going through a major life change. Customers pay $20 for a personal stylist to select clothing and accessories based on their sizes, tastes and price ranges, which is called a “Fix.” Then, consumers keep and pay for the items that they like and send back the rest.

“As people are experiencing a rapid physical transformation, they need support,” he said. “They’re looking for support when it comes to looking and feeling their best as their bodies change, and we’re uniquely positioned to meet them at this moment.”

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Client mentions of weight loss in their Fix request notes has tripled over the last two years and shot up by 75% year over year in the most recent fiscal quarter, he said.

Plus, the company has noticed a pronounced shift in both customers adjusting the sizes listed in their online profiles and requesting smaller sizes, Baer added.

Still, he said, “there’s no one-size-fits-all approach to how people navigate their weight loss journey.” Some clients have paused their orders and waited to overhaul their closets until reaching a goal weight, while others have asked for core items to wear at each stage of sizing down.

Online resale company ThredUp has also noticed indicators that customers are looking to sell and buy clothing because of weight changes. Denim has been the top category for GLP-1 users, according to the company’s data, with the rate of users buying smaller waist sizes of jeans accelerating since early 2025.

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On the other hand, the use of GLP-1s has increased ThredUp’s inventory and sales of plus-sized clothing as more people on the drugs put their old wardrobes up for sale. Purchase volume for large, extra large and plus-sized apparel combined grew by 6% in March 2026 compared to the year-ago period, even as the purchase volume of small-and medium-sized items dropped by 6% over the same time period.

CEO James Reinhart told CNBC that the resale platform tends to draw people at moments of transition, and GLP-1 users are “squarely in that camp.”

“It’s an opportunity for us to be successful both on the buy side and on the sell side, as people are rotating out of wardrobes that they no longer fit in,” he said. “We have opportunities to capture some share there.”

A wide swath of retailers could benefit from GLP-1 users shopping for clothing, including off-price retailers like T.J. Maxx and athletic apparel brands like Lululemon, said Aneesha Sherman, an apparel and specialty retail analyst at Bernstein.

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Lechatnoir | E+ | Getty Images

The retailers that could benefit most

For retailers, the nudge for some customers to buy new outfits comes at a helpful time.

Sales in the apparel industry in the U.S. are projected to grow only modestly this year, with an expected increase of 0.4% year over year, driven by a 1% increase in average selling price, according to Circana. That’s better than the prior year, when apparel sales were roughly flat.

That slowdown has come from U.S. consumers watching their budgets, as they buy lower-priced items from discounters and prioritize categories with innovation, such as beauty, Circana’s Classi-Zummo said.

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A wide swath of retailers could benefit from GLP-1 users shopping for clothing, Bernstein’s Sherman said. She said she expects the biggest winners to fall into several major categories. Off-price retailers like TJX-owned T.J. Maxx and Marshalls and big-box retailers including Walmart and Target could benefit as people losing weight look for value while dropping multiple sizes.

Athletic apparel brands, such as Nike, Adidas and Lululemon, may sell more clothing because their stretchier leggings and tops tend to be more adaptable to changing bodies and because weight loss may spark GLP-1 users to become more active than before. And bespoke clothing services, including Stitch Fix and rental services like Rent the Runway and Urban Outfitters-owned Nuuly, could gain customers seeking styling advice or outfits they can wear during a period of change.

Big-box retailers and warehouse clubs that include pharmacies, such as Costco, Target and Walmart, could benefit for another reason, too. Customers may toss an item of clothing in their basket while picking up their medication, Sherman said.

As more people take GLP-1 drugs, retailers could see a boost in the number of customers who are shopping for smaller sizes.

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Yurii Klymko | Istock | Getty Images

To attract shoppers, brands and retailers “need to think about both the physical change and the emotional transformation that consumers are going through” and speak to them directly about how they can help, Circana’s Classi-Zummo said. For example, a secondhand retailer could emphasize the value of buying well-known brands for less while changing sizes or a store could offer help finding the right fit as people’s measurements change.

Suter said she’s about halfway toward her goal of losing nearly 60 pounds. Yet she said she already feels happier and dresses differently. She dusted off old pairs of jeans from her closet and bought a few smaller T-shirts on Amazon to tide her over as her weight continues to drop.

She bought a pair of Hoka sneakers to wear as she had the energy and stamina for longer neighborhood walks with her two dogs, Odie and Bentley.

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When she hits her goal weight, she said she’ll splurge on fresh outfits to wear to her upcoming high school reunion. She said she will spring for some swimsuits, too.

“It’s going to be hard not to strut,” she said, with a laugh.

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Short Lines Across Terminals as Travelers Enjoy Smooth Security on April 10

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Kuwait International Airport

NEW YORK — Security lines at John F. Kennedy International Airport moved briskly Friday morning, with most terminals reporting general TSA wait times under 20 minutes and TSA PreCheck lanes often clearing in five minutes or less, offering relief to spring travelers after weeks of volatile delays tied to staffing fluctuations and holiday surges.

Delta Air Lines planes are seen at John F. Kennedy International Airport on the July 4th weekend in Queens, New York City
Delta Air Lines planes are seen at John F. Kennedy International Airport on the July 4th weekend in Queens, New York City

As of mid-morning on April 10, the official JFK Airport website showed the following estimated wait times: Terminal 1 general screening at about 12-19 minutes with PreCheck around 5-11 minutes; Terminal 4 at 9-15 minutes general and 1-6 minutes PreCheck; Terminal 5 at 9-14 minutes general and 5-7 minutes PreCheck; Terminal 7 at 17 minutes general; and Terminal 8 at 24 minutes general with PreCheck at 7 minutes. These figures, updated around 11:25 a.m. ET, reflect real-time monitoring but come with the airport’s standard disclaimer that estimates are reliable only when lines stay within designated queue areas.

The relatively short waits contrast with earlier 2026 peaks, when spring break crowds and occasional TSA staffing issues pushed some lines to 45-60 minutes, particularly in Terminal 5, a major hub for JetBlue. On Easter Sunday, April 5, many terminals cleared general passengers in under 15 minutes, a trend that has carried into quieter mid-April days.

Port Authority of New York and New Jersey officials, who operate JFK, noted that TSA staffing has stabilized following a period of uncertainty earlier in the year. Travelers are still advised to arrive two hours before domestic flights and three hours before international ones, with extra buffer recommended during peak morning (5-9 a.m.) and evening (3-7 p.m.) rushes when waits can climb to 30-45 minutes.

Live trackers and third-party sites like TakeoffTimer and airline-specific dashboards reported similar conditions Friday, with overall airport averages hovering between 10-25 minutes for standard lanes. TSA PreCheck continued to deliver significant time savings, often under five minutes even when general lines stretched longer. CLEAR biometric lanes, available in several terminals, further expedited entry for enrolled members.

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Terminal 4, the largest and home to Delta, JetBlue international operations and many foreign carriers, consistently showed the shortest general waits in recent updates, sometimes dipping to single digits. Terminal 8, primarily American Airlines, occasionally recorded the longest lines but remained manageable Friday. Terminal 1 and Terminal 5, serving a mix of international and domestic flights, fell in the middle range.

Travelers on social media and Reddit’s r/JFKAirport echoed the positive reports, with recent posts describing 15-25 minute experiences in general lines and near-instant PreCheck clearance. One passenger flying Delta from Terminal 4 on Thursday afternoon reported clearing security in under 10 minutes with two children and luggage. Another noted a 35-minute wait in Terminal 8 during a busier evening slot earlier in the week.

The smoother flow comes after the airport temporarily suspended official wait-time reporting in March due to inaccuracies during high-volume periods and staffing shifts. Data resumed in early April, and officials say staff now monitor queues more actively to provide better estimates. The MyTSA app remains a useful tool for crowd-sourced updates from fellow passengers.

JFK handled more than 60 million passengers in 2025, making it one of the busiest U.S. gateways, especially for international travel to Europe, Asia and Latin America. Security remains the primary bottleneck for many, but Friday’s conditions suggested a return to more predictable operations amid lighter post-holiday traffic.

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Experts recommend several strategies to minimize delays. Enrolling in TSA PreCheck, which costs $78 for five years, allows eligible travelers to keep shoes, belts and light jackets on while using dedicated lanes. CLEAR, often bundled with airline status or credit cards, speeds up the initial ID check. Arriving early, packing liquids properly in a quart-sized bag and removing electronics in advance further smooths the process.

For international departures, additional time should be factored for customs and immigration on arrival, though outbound screening focuses on TSA. Passengers with disabilities or needing assistance can request expedited help through airlines or TSA Cares.

Weather and flight schedules also influence crowds. Friday’s forecast for the New York area called for mild spring conditions with no major disruptions expected, helping keep passenger volumes steady rather than compressed into narrow windows. Airlines reported normal operations with only routine delays unrelated to security.

TSA officials nationwide have emphasized that wait times fluctuate based on passenger volume, staffing and random additional screening measures. Unpredictable security protocols, including occasional pat-downs or bag checks, can add minutes even in short lines. The agency encourages downloading the MyTSA app for real-time alerts and prohibited-items guidance.

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JFK’s five terminals each operate independent checkpoints, so travelers should confirm their airline’s location in advance. Terminal 4 and Terminal 5 handle the heaviest loads, while Terminal 7 and parts of Terminal 1 serve fewer but still significant international routes.

As the busy summer travel season approaches, the Port Authority and TSA plan to maintain enhanced staffing where possible. Officials have urged passengers not to arrive excessively early if lines are short, to avoid congestion in pre-security areas, but stress that individual experiences vary.

For those flying out of JFK today or in coming days, current data points to a traveler-friendly environment compared with recent months. Still, checking the official JFK website or reliable trackers shortly before heading to the airport remains the best practice, as conditions can shift quickly with sudden surges or lane closures.

The airport continues investing in technology, including more automated screening lanes and biometric options, to reduce friction. In the meantime, Friday’s lighter lines offered a welcome breather for the millions who rely on JFK as their gateway to the world.

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Travelers are reminded to follow the 3-1-1 liquids rule, place laptops and large electronics in separate bins, and prepare for possible secondary screening. With waits mostly in the 10-25 minute range across terminals, many passengers reported having extra time for a coffee or last-minute shopping before boarding.

Whether heading to Europe on a red-eye or catching a domestic connection, today’s security experience at JFK appears far smoother than the longer delays seen during peak spring break weeks. As always at one of America’s busiest airports, a little preparation goes a long way toward stress-free travel.

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Cha Eun-woo Apologizes for 13 Billion Won Tax Burden After Paying Massive Bill Amid Fan Backlash

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Cha Eun-Woo

SEOUL, South Korea — K-pop star and actor Cha Eun-woo issued a personal apology Wednesday after settling a high-profile tax dispute with South Korea’s National Tax Service, confirming he has paid approximately 13 billion won ($8.7 million) following an initial assessment that exceeded 20 billion won and sparked widespread disappointment among fans.

Cha Eun-Woo

The 29-year-old Astro member, whose real name is Lee Dong-min, posted a lengthy statement on his personal Instagram on April 8, taking full responsibility for the controversy and expressing deep regret for causing “disappointment and confusion” to supporters who have backed him throughout his career.

“Although it is late, I would like to personally share my thoughts and position now,” Cha wrote. “I respect the procedures and findings of the National Tax Service, and to prevent any further confusion, I have fully paid the related taxes. I will also diligently comply with any remaining procedures.”

He added: “Above all, I feel most terrible and sorry for disappointing my fans, AROHA, who have trusted and supported me. Because I have been active thanks to the love and support of so many people, I am taking this matter even more seriously and deeply. If there was anything I failed to examine carefully enough, all responsibility lies with me. I will not evade this by saying I ‘didn’t know’ or that it was ‘someone else’s decision’ for any reason.”

The statement marked Cha’s second public comment on the issue. In late January, shortly after reports of the tax probe surfaced, he had issued an initial apology while serving mandatory military duty, pledging to accept the authorities’ final decision.

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The controversy erupted in January 2026 when Korean media reported that the Seoul Regional Tax Office had notified Cha of an additional tax assessment exceeding 20 billion won following an intensive audit conducted in the first half of 2025, before he enlisted in the military in July.

Authorities alleged that a significant portion of Cha’s earnings had been routed through a company established in October 2022 under his mother’s name. The National Tax Service determined the entity functioned primarily as a “paper company” with little genuine business activity, allowing income to be taxed at the lower corporate rate rather than the top personal income tax bracket of up to 45%. This arrangement allegedly reduced Cha’s overall tax burden by more than 20 percentage points.

The probe also examined his agency, Fantagio, which was ordered to pay 8.2 billion won in additional taxes last year. Tax officials reportedly summoned both Cha and his mother for questioning as part of the investigation.

On Thursday, April 9, Fantagio clarified to multiple outlets that while the initial assessment topped 20 billion won, overlapping payments in corporate and value-added taxes led to adjustments. The agency said an accountant informed them that Cha’s actual net burden after expected refunds would amount to about 13 billion won, which he has now paid in full.

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The payment and apology have done little to quell public criticism. Many netizens expressed disappointment that the response came months after the initial reports and questioned the sincerity of Cha’s “good boy” image, which had made him one of South Korea’s most beloved celebrities and lucrative endorsers.

Several major brands, including skincare line Abib and others, quietly removed or scaled back campaigns featuring Cha following the January revelations. Some videos on the National Defense Information Service’s YouTube channel starring the idol were also made private.

The case has drawn particular scrutiny because of Cha’s military service. A citizen petition filed Thursday with the Ministry of National Defense calls for a review of his assignment to the military band, arguing that his tax issues raise questions about his suitability for the role.

Cha’s representatives have emphasized that he accepted the National Tax Service’s findings without contest and paid promptly to resolve the matter. In his April 8 statement, he reflected on the incident as a moment for personal growth, saying it prompted him to “look back and deeply reflect on whether I have been sufficiently strict in fulfilling my duty to pay taxes as a citizen of the Republic of Korea.”

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The scandal represents one of the largest tax assessments ever reported against an individual South Korean entertainer. It highlights ongoing scrutiny of tax practices in the entertainment industry, where high earners sometimes use corporate structures or family entities to manage income.

Industry observers note that while many celebrities have faced tax probes in the past, the scale of Cha’s case and his previously untarnished reputation have amplified the backlash. Some fans have called for a second chance, citing his long history of charitable work and positive public image, while others demand stricter accountability.

Cha, who rose to fame as a member of Astro and gained massive popularity through dramas such as “True Beauty” and “A Good Day to Be a Dog,” has been one of the country’s top endorsers, appearing in campaigns for cosmetics, fashion and financial brands. His military enlistment in 2025 paused much of his entertainment activities, but the tax news emerged during his service.

As of Thursday, no criminal charges have been filed, and the matter appears resolved through the civil tax payment. The National Tax Service has not issued a public comment on the final settlement.

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Fantagio said Cha remains focused on completing his military duties and will return to activities with renewed commitment once discharged. The agency declined further comment on the tax details beyond confirming the payment.

Public reaction on social media remains mixed. Supporters have posted messages of encouragement, while critics have questioned whether the apology and payment are sufficient to restore trust. Hashtags related to the controversy trended briefly in Korea after the latest statements.

The episode serves as a reminder of the intense public expectations placed on Korean idols and actors, who often serve as national cultural ambassadors. Tax compliance has become a sensitive issue in the industry following several high-profile cases in recent years.

Cha’s fans, known as AROHA, have been urged by some community leaders to await further developments while others have expressed heartbreak over the tarnishing of his image.

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For now, the 29-year-old star has stepped back from public commentary beyond his written apology, letting his payment and promise of responsibility speak for the resolution of the financial side of the dispute.

Whether the public will forgive and forget remains to be seen as Cha completes his service and prepares for a comeback. In South Korea’s fiercely competitive entertainment landscape, reputation can be as valuable — and as fragile — as any financial asset.

As one fan commented online, “We loved the perfect image, but now we see he’s human too. The real test is what he does from here on.”

The coming months will determine if Cha Eun-woo can rebuild the trust that once made him a household name synonymous with charm and integrity.

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Amazon debuts Masters coverage, tournament’s fourth-ever media partner

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Amazon debuts Masters coverage, tournament's fourth-ever media partner

Key Points

  • Amazon Prime Video will have two hours of exclusive Masters coverage, from 1 p.m. ET to 3 p.m. ET, on Thursday and Friday.
  • Amazon will not have any tie-ins with its ecommerce business during the broadcast. Rather, it will adhere by the Masters’ strict broadcasting rules.
  • Amazon is only the fourth media partner in the Masters history, joining CBS, USA Network and ESPN.

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Central Bancompany stock hits all-time high at 25.52 USD

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Rise in take up of large industrial space in Wales

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Research from Knight Frank shows a rise in the first quarter compared to 2025, but with take up down on the previous quarter

Computer generated image of the next phase of development at Indurent Park Newport.

Take up of large industrial space in Wales reached 344,882 sq ft in the first quarter of this year, shows new research from global property consultant Knight Frank.

The take up was around 50,000 sq ft higher than the same period last year, but down from the 675,000 sq ft achieved in the final quarter of 2025. Large units are defined as being more than 50,000 sq ft.

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Neil Francis, head of the Knight Frank’s industrial team based in Cardiff, said: ”The take up comprised two lettings and two sales, with the largest deal being the sale of the 111,000 sq ft former Liberty Steel facility in Tredegar which was sold to an existing South Wales based manufacturer which is going to use it for a second facility in the region.”

The second sale was the disposal of unit one at Hirwaun Industrial Estate to Welsh Government. The Cardiff Bay administration acquired a surplus distribution unit from Christmas cracker to stationery business IG Design Group in Hirwaun for £3.15m. It now plans to invest an additional sum of just over £6m to upgrade the building which spans 97,300 sq ft and includes six acres of development land. This will create new modern industrial space that will be marketed to attract inward investment as well as aiding local firms in their expansion.

READ MORE: BCRS Business Loans secures £20m mandate to back small firms in Wales and the MidlandsREAD MORE: Empty building in the centre of Newport to be transformed with 750 staff moving in

Mr Francis said: “A similar project has been undertaken at 120,000 sq ft in Tredegar by local investor Gevrey who acquired last year and have overclad the roof and refurbished internally. At the moment 60,000 sq ft is under offer and the remainder available to let.”

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According to the Knight Frank research availability of industrial stock in Wales now stands at 4.6 million sq ft – compared to 3.7 million sq ft at the end of 2025. The increase was impacted by the return to the market of the 900,000 sq ft former Wilko facility in Magor. It is understood that the property has been earmarked for a major data centre investment.

Mr Francis added: “Positively, we are finally seeing new build coming out of the ground with Indurent leading the way with 350,000 sq ft under construction at Indurent Park in Newport, offering units from 45,000 to 115,000 sq ft.

“This new space will start becoming available from Q4 2026 and there is good early interest. Once secured, the quoting rents will set new headlines in the region.”

Knight Frank said a 85,000 sq ft high-bay warehouse project at Blackwood Business Park in Caerphilly is close to completion.

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Mr Francis added: “The market can currently best be described as inconsistent, with the general levels of activity being better than the take up figures suggest. And with over 800,000 sq ft of space currently under offer to occupiers, Q2 will be a significant quarter for the market if legals progress successfully.”

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Annie’s introduces new macaroni and cheese varieties

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Annie’s introduces new macaroni and cheese varieties

Each contains 10 grams of protein per serving.

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Detroit coalition offers up to $15K to attract residents, entrepreneurs

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Detroit coalition offers up to $15K to attract residents, entrepreneurs

A Detroit coalition is rolling out cash incentives of up to $15,000 to attract new residents and retain current ones, as part of a broader push to spur economic growth in the city.

The program, dubbed “Make Detroit Home,” will award more than $500,000 in benefits to over 300 participants, according to the MoveDetroit coalition, which launched the program. These include entrepreneurs, creatives, and small business owners, as well as current residents, former Detroiters and newcomers willing to relocate.

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The initiative offers stipends of up to $15,000 to help cover home down payments, renovations, rent or business expenses, according to Realtor.com.

Additional applicants may qualify for $1,000 grants to offset moving costs, security deposits and expenses such as gym memberships or meal services.

downtown Detroit

An aerial view of downtown Detroit, Michigan. (iStock / iStock)

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“This stipend is a clear signal that Detroit is serious about competing for residents and the data backs up why it’s an attractive proposition,” Hannah Jones, Realtor.com senior economic research analyst, told FOX Business in an email. 

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“Detroit consistently ranks among the most affordable major metros in the country, where a $15,000 incentive can realistically cover a down payment or fund a meaningful renovation, rather than barely scratching the surface as it might in higher-cost markets.”

Jones added that pairing that purchasing power with the city’s growing momentum could help drive “household formation and long-term market stability.”

STEELMAKER TO LAY OFF 600 EMPLOYEES AT MICHIGAN PLANT DUE TO WEAK AUTO DEMAND

Dan Gilbert

Billionaire businessman Dan Gilbert talks during a press conference on May 21, 2019, in Independence, Ohio.  (Jason Miller/Getty Images)

The “Make Detroit Home” initiative marks the first major effort from the MoveDetroit coalition, a nonprofit launched last month with backing from local organizations and the mayor’s office.

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Billionaire businessman and Rocket Mortgage founder Dan Gilbert is the honorary chair of the group.

“For too long, we’ve been educating some of the most talented young people in the country, only to watch them leave to places like New York City, Atlanta, California, Seattle, Miami, and elsewhere,” Gilbert said. “At our largest universities, we are losing nearly half our graduates. But today, we’re flipping that equation.”

Gilbert pointed to Detroit’s growing roster of major employers, including Google and Fifth Third Bank, as part of the city’s appeal.

BILLIONAIRES AND BUSINESSES FUEL GROWING EXODUS FROM BLUE STATES

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Google office building in Detroit

Google office building in Detroit, Michigan on Sept. 27, 2019.  (Raymond Boyd/Getty Images)

The initiative is privately funded, with MoveDetroit aiming to raise $10 million this year. Gilbert has pledged to match every dollar raised, according to Realtor.com.

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“Detroit is a place where you build, grow, and win,” Gilbert said. “This city has the grit and assets to compete with anywhere in the country for talent. People are choosing Detroit for its culture, energy and opportunity. MoveDetroit is about numerous organizations coming together to double down, ensuring that Detroit accelerates its growth even further.”

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Review: Singapore keeps raising the bar

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Review: Singapore keeps raising the bar

REVIEW: The industrious island nation to our north has produced one of aviation’s great innovation stories.

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Oil price surges towards $100 as Middle East ceasefire begins to unravel

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Oil price surges towards $100 as Middle East ceasefire begins to unravel

The brief sigh of relief across global markets lasted barely a day. Brent crude climbed sharply back towards $100 a barrel on Thursday after Iran moved to close the Strait of Hormuz, sending a clear signal that the fragile Middle East ceasefire was already fracturing.

The benchmark was trading at $98.61 a barrel in early afternoon dealing, a rise of 4 per cent, having fallen as much as 16 per cent the previous day to below $91 on optimism that a two-week pause in hostilities might pave the way for a lasting peace. That optimism now looks badly misplaced.

Iran’s decision to shut the strait, through which roughly a fifth of the world’s oil and gas passes, came in direct response to Israeli airstrikes on Hezbollah targets in Lebanon, which Tehran condemned as a breach of the ceasefire agreement. It is a move that strikes at the heart of global energy security and one that will alarm policymakers and business leaders in equal measure.

Sultan Al Jaber, chief executive of Abu Dhabi’s state oil company Adnoc, did not mince his words. He made clear that Iran was using passage through the waterway as a tool of political leverage rather than respecting freedom of navigation, a distinction that matters enormously for businesses dependent on uninterrupted supply chains.

Nigel Green, chief executive of the financial advisory group deVere, echoed those concerns, pointing out that a fifth of the world’s oil supply continues to move through a corridor effectively controlled by one of the belligerents. For SMEs already grappling with elevated energy costs, it is a deeply uncomfortable position.

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Stock markets reflected the souring mood. The FTSE 100, which had enjoyed its strongest single session since April 2025 with a 2.5 per cent gain on Wednesday, gave back 0.2 per cent to trade at 10,585. On the continent, Germany’s DAX shed 1.4 per cent and France’s CAC 40 fell 0.7 per cent. Across Asia, Japan’s Nikkei, South Korea’s Kospi and China’s SSE Composite all closed lower.

Wall Street, which had rallied sharply overnight with the S&P 500 up 2.5 per cent and the Dow Jones gaining nearly 3 per cent, was expected to open in the red.

President Trump weighed in on social media, confirming that American forces would remain deployed in the Gulf until an agreement was both reached and honoured, warning of severe consequences should it not be.

Meanwhile, Israel intensified its military campaign in Lebanon with its heaviest strikes since the conflict with the Iran-backed Hezbollah militia escalated last month, with more than 250 reported killed.

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For British businesses, particularly those in manufacturing, logistics and any sector exposed to energy pricing, the message is stark. The ceasefire may have offered a momentary respite, but the underlying volatility in the Middle East, and its direct bearing on the cost of doing business, is far from resolved. With Brent hovering just shy of triple figures, boardrooms across the country will be revisiting their hedging strategies and bracing for what could be a prolonged period of uncertainty.


Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Form 13F Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. For: 9 April

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Form 13F Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. For: 9 April

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