Poundworld founder Chris Edwards to head up rival Poundstretcher October 15, 2017 Struggling bargain retailer Poundstretcher is set to be taken over by the founder of one of its main competitors, Poundworld. Chris Edwards, who founded Poundworld in 1974, is in line to become chief executive of Poundstretcher, the Sunday Times reported yesterday. Poundworld sold a majority stake to American private equity firm TPG in 2015 for [...]
Just Eat’s Hungryhouse takeover is nearly good to go as competition watchdog gives provisional clearance October 12, 2017 The competition watchdog has provisionally paved the way for Just Eat to gobble up Hungryhouse, saying the merger does not raise concerns. Shares in Just Eat rose nearly five per cent in morning trading as investors chewed over the good news. Just Eat paid £200m for Hungryhouse, which it bought from Delivery Hero, back in [...]
Designer homeware site Made.com turned a profit in the UK for the first time last year October 4, 2017 Design business Made.com generated a profit in the UK for the first time last year. The figures In results for 2016 released today, the trendy homeware business revealed that its sales grew by 48 per cent. In the UK, revenue was up 38 per cent, helping the business to turn its first profit in the [...]
Vue reopens historic Leicester Square cinema with new luxury leisure features July 10, 2017 Vue Cinemas has upped its food and drink offering in its newly refurbished Leicester Square site, which has been a cinema since 1938. The chain has put £6.6m into redeveloping its West End flagship, which reopens tonight. The site was originally built by Warner Brothers, and was taken over by Vue when the company absorbed [...]
New Hamleys CEO Ralph Cunningham replaces Gudjon Reynisson July 4, 2017 Legendary toy store Hamleys has appointed a new CEO, promoting COO Ralph Cunningham to the role. He replaces Gudjon Reynisson, who has been with the company for nine years. Reynisson will now step into a vice chairman position. Read more: Peppa Pig, PJ Masks and Designated Survivor boost EOne revenues Cunningham joined Hamleys in 2013 [...]
Innocent Drinks passes £300m in sales as European growth spikes July 3, 2017 Innocent Drinks, the UK smoothie-maker which is majority-owned by Coca Cola, passed sales of £300m for the first time last year as its European presence continues to expand. Sales grew by 23 per cent in the year to 31 December 2016, coming in at £303.5m. The company saw a return to profit, making £8.5m compared [...]
Sale is in The Works for stationery retailer at private equity group Endless May 21, 2017 The Works, a discount stationery and books retailer owned by turnaround private equity firm Endless, is readying to be sold or floated next year. Endless has enlisted the help of bank Investec to begin preparing a sale or listing, the Sunday Times reported. Read more: Why 3i is taking a step back from the UK [...]
Sir Philip Green’s knighthood still under threat despite his £360m payout to ease BHS pensions black hole March 21, 2017 Sir Philip Green's knighthood is still under threat despite his unprecedented £363m cash contribution to the BHS pension scheme. In a symbolic move, MPs voted to strip Green of his knighthood in October 2016. Earlier in the year one MP called him the “unacceptable face of capitalism” for his part in the collapse of BHS. However, [...]
Trump travel bans causes slump in US tourism March 20, 2017 Inward travel and tourism will contribute less than usual to the US economy this year, the World Travel and Tourism Council (WTTC) have said. The WTTC’s Impact Research report for 2017 shows that while the US travel and tourism sector is the worlds biggest, forecasted growth in the country’s travel and tourism industry is likely to [...]
Roboshop: How Morrisons is using artificial intelligence to stock its shops March 20, 2017 Morrisons is using artificial intelligence to stock its stores in a bid to improve efficiency and customer service. The supermarket is rolling out a system from tech firm Blue Yonder that uses artificial intelligence and machine learning to predict exactly what is needed in each of Morrisons' 491 stores. Read more: Amazon is looking for [...]
