M&S is braced for tumbling profits with boss Steve Rowe set to announce raft of store closures November 6, 2016 Marks & Spencer is braced to unveil tumbling profits in its interim results on Tuesday. Profit before tax is expected to have dropped by over 20 per cent to £216m according to analyst consensus, showing the scale of the challenge chief executive Steve Rowe faces. Clothing and home sales, which are measured at stores open for [...]
London’s most iconic department stores are unveiling their festive window displays: Here’s what’s on show so far November 4, 2016 It’s beginning to look a lot like Christmas, and that can only mean one thing – London’s most iconic department stores are unveiling their festive window displays. Here’s what’s been on show so far: Fortnum and Mason: Looking to deliver a Christmas message with a higher purpose than simple commercial gain, Fortnum & Mason have [...]
Marmite’s changes personalised jar service considers “Brexit” a profanity November 4, 2016 Whether you love or hate Brexit, there's no need to censor it. Mere weeks after the biggest news story of 2016, #MarmiteGate agitator Unilever is offering fans of the divisive yeast spread the opportunity to personalise a jar with their name for Christmas. Of course, the first thing any mature adult would attempt to do is fill the online form [...]
M&S to close dozens of stores November 4, 2016 Marks & Spencer will be closing dozens of UK stores and will cut its clothing offer in others, it's been claimed. Following reports from Bloomberg that M&S will be closing its Paris store and shops in China, Sky News has said that M&S boss Steve Rowe will announce UK store closures next week. It is expected that [...]
Aldi wants to lure craft beer fans with… craft wine November 4, 2016 You can see Aldi's thinking. "Craft beer's still doing well: what next?" And it's landed on… craft wine. The discount supermarket is cracking open a range of "craft-beer-style wines" this month which it says will turn traditional wines "on their head". It's betting on the "Whole Foods generation and millennial drinkers" toasting the new beverages as many [...]
M&S retail boss wrote to former chancellor George Osborne to defend benefit cuts for staff November 4, 2016 M&S management wrote to former chancellor George Osborne this summer as the business was under siege for cutting staff benefits. In an internal memo seen by City PM, the retail director of M&S, Sacha Berendji, told staff he wrote to Osborne responding to criticism about cutting premium pay rates for staff. Read more: M&S shells out £100m for pension changes [...]
John Lewis Partnership considers further reforms to staff benefits as squeeze on retailers tightens November 4, 2016 High street stalwart the John Lewis Partnership is considering further curbs on staff benefits as it becomes the latest retailer to fight back against soaring costs for the sector. Documents seen by City PM suggest the escalating national living wage could cost the John Lewis Partnership an additional £171m in 2020. Between 2015, when the [...]
Here’s a round up of all the rumours about the John Lewis Christmas ad November 4, 2016 The internet is going wild about when an ad will hit TV screens. That’s right, the John Lewis Christmas ad cometh – and before it’s even out, the mums of cyberspace have been speculating about what it will be like, even though it will be played on tellyboxes ad nauseum until Christmas day arrives. Read more: [...]
Could it be? BHS pensions deal to be wrapped up by Christmas November 4, 2016 There could finally be light at the end of the tunnel. Sir Philip Green and pension regulators could reach a deal over the BHS scheme within weeks, according to the BBC. But, don't get too excited just yet: Green could still walk away, which would prompt the beginning of a prolonged legal battle. Newsnight reported [...]
Paddy Power Betfair revenues race ahead thanks to weak sterling November 4, 2016 Perfect timing for newly-minted bookie Paddy Power Betfair, which today unveiled a 25 per cent jump in group revenues and raised full-year expectations – in part thanks to the weak pound. The figures Group revenues increased 25 per cent to £404m, the group said today – including a £28m net benefit from the translation of non-UK revenues thanks to the [...]
