Morrisons reports rising sales despite slowdown after summer of hot weather and World Cup November 6, 2018 Sales at Morrisons climbed more than five per cent in the third quarter of 2018, although the supermarket chain reported an expected slowdown in growth after a bumper summer bolstered by hot weather and the World Cup. Shares fell more than four per cent in early morning trading. Morrisons posted a 5.6 percent rise in quarterly [...]
German budget supermarket chain Lidl boosts wages for UK employees November 6, 2018 German budget supermarket Lidl will boost wages for thousands of its workers in the UK, it said yesterday. Lidl said entry-level wages will increase from £8.75 an hour to £9 an hour outside of London and from £10.20 to £10.55 an hour within the capital. The increase will come into effect from 1 March next year, [...]
Here’s where Crawshaw’s 35 butchers shops are closing down November 5, 2018 The locations of the 35 Crawshaw butchers stores that will be closed have been revealed by administrators following this morning's announcement that 354 workers would be made redundant. Administrators at EY announced the closure of mainly high street branches as they begin the search for a buyer for the remaining 19 stores that are continuing to trade. EY [...]
Ferrari profits rise but Italian stallion won’t change gear on full-year guidance November 5, 2018 Profits at supercar manufacturer Ferrari rose almost five per cent in its third quarter, however the firm stuck to its full-year earnings guidance. The lack of an upgrade caused its share price to fall more than three per cent on the New York Stock Exchange in the first hour of trading this afternoon. Shareholders were [...]
Zizzi Salisbury branch made famous by Skripal attack to reopen tomorrow November 5, 2018 The Salisbury Zizzi branch that found itself at the heart of a suspected Russian plot to poison former spy Sergei Skripal and his daughter in March will reopen tomorrow. The quiet Cathedral city was thrust into the international spotlight after former Russian spy Skripal and his daughter Yulia were found slumped on a bench outside the restaurant [...]
DEBATE: Will Ikea’s new small store format in urban centres help save the high street? November 5, 2018 Will Ikea’s new small store format in urban centres help save the high street? Adrian Moorhouse, managing director of Lane4, says YES. Ikea’s experiment with smaller city centre stores is a great example of a brand evolving to stay connected to its customers, by accommodating the changing ways in which people both live and shop. As a lot [...]
More than 350 jobs lost as Crawshaw Group enters administration and shutters 35 stores November 5, 2018 More than 350 jobs will be lost after Crawshaw Group shutters 35 stores and a distribution centre, it was revealed this morning, as the butchers announced it has appointed administrators. Administrators from EY have been hired to sell off the listed firm’s assets over the next few weeks, and a total of 354 workers have been made [...]
Patisserie Valerie chairman Luke Johnson to refuse salary November 4, 2018 The chairman and executive director of embattled bakery Patisserie Valerie is to waive his annual salary for the rest of his tenure as he attempts to focus on bringing the chain back to life. Johnson has told the company's board he will forego his £60,000 annual salary in light of the firm's recent accounting scandal, according [...]
No bumps in the road expected for Halfords despite retail gloom November 4, 2018 Bicycle and car maintenance retailer Halfords is expected to report that business is running as usual in its half-year results next week, despite many other retail stores being negatively affected by this year's unusually long hot weather. The retailer is expected to remain on track for its full-year profit guidance, which will be broadly in line [...]
JD Wetherspoon faces opposition to finance director’s pay rise November 4, 2018 JD Wetherspoon may be hit with a shareholder revolt at the pub chain’s annual meeting this month over proposals to boost the finance director’s pay by more than 10 per cent. Proxy advisers ISS and Glass Lewis have recommended that investors oppose a 12.3 per cent increase in salary for finance chief Ben Whitley to [...]
