Seraphine sells: Maternity brand worn by celebrities including Kate Middleton and Kate Winslet to be taken private in £15.3m deal January 20, 2023 The board of Purple Bidco, owned by Mayfair Equity, and directors of Seraphine have agreed to buy out the maternity clothing company in a deal which values the celebrity fashion favourite at £15.3m. The offer represents a 206 per cent premium of the firm’s share price, with each share being sold for 30p cash in [...]
Retailers blame Royal Mail strikes for Brits abandoning online shopping in the run up to Christmas January 20, 2023 Thousands of Brits appear to have abandoned online purchases following a series of strikes by Royal Mail employees, according to figures from the Office for National Statistics. Figures released by the ONS show that the proportion of online sales slipped by 0.5 per cent to 25.4 per cent in December. Retailers laid the blame on [...]
Deliveroo: UK orders pass £1bn mark as takeaway giant remains upbeat about 2023 January 19, 2023 Quarterly orders on Deliveroo in the UK and Ireland passed the £1bn mark for the first time at the end of last year, the takeaway giant reported today, adding that it was confident about the year ahead despite much economic uncertainty. The food delivery company reported a seven per cent increase in gross transaction value [...]
Boohoo shares slide after PrettyLittleThing owner admits consumer squeeze has hit profits January 19, 2023 Online fashion retailer Boohoo expects full year revenue to be below market expectations as it continues to suffer from the squeeze on consumer spending. The company anticipates revenue will fall by 12 per cent over the financial year ending 28 February, after it reported a fall in revenue in a trading update released this morning. [...]
WH Smith revenues boosted by return of rail and air travellers January 18, 2023 WH Smith said revenues had surged in the first few months of its financial year today as its airport and train station-based shops reaped the rewards of a rebound in travel. In a trading update today on the 20 weeks to the 14th January, the book and stationery stalwart said that revenues ramped up 40 [...]
Gambling: TonyBet fined nearly £443,000 for failing to implement anti-money laundering rules January 18, 2023 TonyBet has been slapped with a £442,750 fine and warned about its failure to have fair and transparent terms, and for failing to follow social responsibility and anti-money laundering rules, the Gambling Commission said. The operator – which operates tonybet.co.uk – will also have to undergo a third-party audit to assess whether it is effectively [...]
Fresh multi-million pound grant stumped-up by Arts Council for the National Opera January 17, 2023 The English National Opera (ENO) is set to receive more than £11 million from the National Lottery for the next financial year after Arts Council England (ACE) announced funding cuts. In plans announced in November, ACE said it was removing the opera company as a national portfolio organisation, resulting in a funding cut of £12.6 [...]
LVMH: Shares in luxury giant hit record high amid warning it’s ‘firing last cartridge’ on back of China’s reopening January 17, 2023 Shares of luxury goods giant LVMH soared to a new record high of £703.35 (€795.7bn) this morning, bringing the company’s market capitalisation to £350bn. LVMH (Moët Hennessy Louis Vuitton) continues to thrive after China’s reopening at the start of the year proving to be a major boost for the company, which relies heavily on luxury [...]
Paperchase puts administrators on standby – but ‘interested parties’ in talks January 17, 2023 Stationery outfit Paperchase has put administrators on standby as it scrambles to find new financial backers. Sky News’ Mark Kleinman has reported that Begbies Traynor has been lined up to handle any potential insolvency. The firm has been bruised and battered by the pandemic and changes to the high street, though City sources told Kleinman [...]
Tesco launches clubcard data app – and reveals the nation’s favourite meal deal January 17, 2023 Retail giant Tesco has confirmed the nation’s most popular meal deal as it expands its Clubcard service with its own year-in-review tool, following a wealth of outlets and online platforms in presenting users with their personal data for viral appeal. Named Clubcard Unpacked, it will show users a raft of data gathered by the retailer [...]
