House of Fraser is opening champagne bars in stores and getting rid of clothing brands Episode, Therapy, Grey & Willow and Dickens & Jones March 17, 2017 House of Fraser is attempting to reinvigorate its in-store experience by installing champagne bars and trimming the number of clothing brands it offers. The department store, which has spent £90m on store refurbishments in the past two years, is ridding itself of 30 clothing brands. Read more: House of Fraser CEO Nigel Oddy resigns as Christmas trading [...]
It’s not rocket science: Budweiser announces plans to create an anti-gravity beer to bring to Mars March 17, 2017 Budweiser is planning for the future by brewing Martian beer. The beer company has joined the space race and wants to be the drink of choice for possible future trips to Mars. It is planning to craft a beverage that will react the same way beer usually does, with the bubbles rising and the foam [...]
Demeter Fragrance Library has launched a cat perfume called Kitten Fur to remind you of your favourite feline friend March 17, 2017 Demeter Fragrance Library, a New York-based perfume company, has just released their best scent yet: kittens. The Kitten Fur formula was 15 years in the making and the company has said it “has captured the olfactory essence of the warmth and comfort of that purrfect spot, just behind a kitten's neck.” Read more: Alibaba's recruiting [...]
Sainsbury’s share price dips after it warns of “uncertain” inflation impact and “competitive” conditions as retail sales decline March 16, 2017 Sainsbury’s reported retail sales excluding fuel fell in the last quarter and said it faced an “uncertain” impact from rising costs and warned the market environment remains competitive. Shares in Sainsbury's dipped as markets opened to lows of 263p, but recovered some of their gains to a loss of around one per cent at the [...]
Wetherspoon’s Tim Martin: Government tax policy is hitting the pub sector and forcing people to drink at home March 16, 2017 Wetherspoon's boss Tim Martin has issued a call to arms to pubs and restaurants in an attempt to convince the government to slash "unfair" taxes levied on the sector. The pub chain founder said tax policy is not only harming the pub sector, it is also forcing poorer people to drink at home as alcohol can [...]
Jones Bootmaker administration: Kurt Geiger and Endless eye up struggling shoe brand March 15, 2017 As Jones Bootmaker sits on the brink of administration, upmarket shoe retailer Kurt Geiger and Endless, the turnaround firm that owns Bathstore, are reportedly among suitors poised to swoop in to the 150-year-old firm’s rescue. The two are in discussions with advisers to Jones’ owners about deals that would potentially save hundreds of jobs, Sky News reported. [...]
Bond Street dumps its rubbish trucks March 15, 2017 Bond Street has dumped its bin men in a bid to attract overseas investment. The number of rubbish trucks going along the iconic shopping street has been slashed by 75 per cent over the past year, with the number of service providers falling from 40 to just two. Read more: Retailers in Mayfair and Bond [...]
Shareholder group Pirc hits back at Sports Direct’s “fake news” allegations March 15, 2017 A shareholder advisory group has hit back at Sports Direct after the retailer accused it of pushing out “fake news” figures on high pay ratios. Pensions and Investment Research Consultants (Pirc) also claimed Sports Direct had sight of the contested figures in 2015 and made “no response on the detail”. Read more: Revealed: The highest and [...]
Retail giant H&M lagging behind competitors as shares drop March 15, 2017 H&M’s shares dropped by nearly 5 per cent, the first downturn of its kind in four years. The figures H&M’s sales decreased 1 per cent year-on-year last month, bringing its shares down 4.5 per cent. This drop is the first of its kind in four years. Fiscal first-quarter sales were up 5.5 per cent from [...]
Bumper payday for Amancio Ortega as profits at Zara parent Inditex jump 10 per cent March 15, 2017 The owner of Zara, Pull & Bear and Massimo Dutti has reported a 10 per cent increase in full year net profit – leaving founder Amancio Ortega, one of the world's richest men, with a bumper €1.3bn (£1.1bn) payout. Profits at Inditex, the world's largest fashion retailer by sales, rose from €2.88bn to €3.16bn in the year [...]
