Flopshop: Arcadia Group brand Topshop’s sales drop over Christmas February 5, 2017 Sir Philip Green’s fashion brand Topshop suffered a like-for-like sales drop of nearly 11 per cent over Christmas, the most important shopping period of the year. The Sunday Times has reported that sales across the Arcadia Group as a whole, which includes Dorothy Perkins, Wallis and Evans, fell by about 6.5 per cent. The poor [...]
BrightHouse in bid for favour with watchdog February 5, 2017 ELECTRICALS rent-to-own retailer BrightHouse has put forward reform plans to the Financial Conduct Authority (FCA) in a bid to save its reputation with the watchdog. The FCA is scrutinising a business plan from BrightHouse and will be deciding whether the retailer should be allowed to continue lending. The retailer allows shoppers to pay for goods, [...]
AccorHotels to bag Travel Keys February 5, 2017 French hotel group AccorHotels, owner of Sofitel and Fairmont hotels, is in talks to bag up luxury travel company Travel Keys. Atlanta-based Travel Keys offers luxury holiday lets in over 100 destinations, including Mexico, Hawaii and the Caribbean. Read more: You won't believe the opulence of these new hotel suites The discussions come just less than [...]
Amazon is looking for shop space in London, according to reports February 5, 2017 Tech giant Amazon has reportedly started searching for shop space in central London as part of its move into the grocery market. Amazon first revealed its ambitions to open grocery stores last December under the banner "Amazon Go". In a video, Amazon said it was using technology to create a shop with no check outs. Customers would [...]
Nobody panic, but your KitKat and Dairy Milk could be about to shrink February 5, 2017 Chocolate lovers could be about to witness some sleight of hand worthy of Willie Wonka – and might want to start stocking up on favourites such as KitKats and Dairy Milk bars. Sweet-making giants Mars, Nestle and Cadbury owner Mondelez, which make the classic snacks and many others, is said to be thinking of cutting the size of [...]
Alibaba ramps up its expansion plans with new office in Australia February 4, 2017 Alibaba has its eyes on more success Down Under, with the opening of a new base in Melbourne. It marks the e-commerce giant's first expansion in the region, as it looks to capitalise on growing global demand for products from both Australia and New Zealand. Founder Jack Ma said at the launch of his firm's new [...]
Lettuce panic: Now supermarkets are rationing iceberg lettuce and broccoli February 3, 2017 Planning on stocking up on vegetables for your next weekly shop? Hopefully you don't need more than three iceberg lettuces – because Tesco has now rationed customers per visit, due to poor growing conditions in Europe causing a shortage in stores. Signs have been sent to all Tesco stores to notify customers, apologising for any inconvenience. [...]
Little Chef roadside restaurant chain sold February 3, 2017 Little Chef's owner has announced the sale of the roadside restaurant business. Kout Food Group said today that it had sold its roadside portfolio to Euro Garages, a roadside retail company operating brands such as Starbucks, Subway and Greggs. Read more: Little Chef is being gobbled up City PM understands Euro Garages has bought all of [...]
Budweiser and AB InBev unwittingly get political with Super Bowl ad telling story of founder’s immigration to the US February 3, 2017 Budweiser and its owner Anheuser-Busch InBev have, apparently unwittingly, become embroiled in the American immigration debate. A 60-second Super Bowl TV advert, documenting the journey of the company’s co-founder Adolphus Busch from Germany to St Louis, has been interpreted as a pro-immigration message shortly after Donald Trump suspended entry from seven majority Muslim countries. Read [...]
Amazon’s sales jumped in the last quarter, but it missed analyst targets February 2, 2017 Online retail giant Amazon.com's share price fell four per cent in after-hours trading as operating income and revenue for the fourth quarter fell lower than expected. The figures Amazon reported a 22.4 per cent increase in its fourth-quarter revenue, driven by strong sales in the holiday period and increased Prime subscriptions. Net sales were up [...]
