British icon Selfridges becomes Thai: Weston family agrees £4bn sale December 2, 2021 Selfridges’ owner the Weston family has agreed to sell the iconic high-end department store chain to Thai private conglomerate Central Group for £4bn. The Canadian billionaires have reached an agreement with Central Group in the last few days, hoping to close the deal by the end of the month, the Times reported. Founded by American [...]
Black Friday sales failed to boost retail footfall last month December 2, 2021 Black Friday sales failed to entice more shoppers out to UK retail destinations, according to the latest data. Footfall worsened slightly during November to 14.5 per cent below 2019 compared with being down 13.4 per cent on pre-pandemic levels in October, according to Springboard data. The month as a whole was impacted by a relatively [...]
Halfords inks £62m deal for automotive servicing business National December 1, 2021 Cycling and motoring services giant Halfords has acquired National, the tyre and automotive servicing business in a £62m deal. National operates under the brands National Tyres and Autocare, Viking Wholesale Tyres and Tyre Shopper. The deal will mean Halfords is the largest vehicle service, maintenance and repair business in the UK and help the company [...]
Pubs and bars anxiously wait to see if Omicron headlines have impacted customer confidence December 1, 2021 Hospitality firms are anxiously awaiting to see if Omicron variant headlines have hit consumer confidence. The bosses of both Loungers’ and Marston’s told CityA.M. that it was too soon to tell if bar goers had been deterred from making trips to venues after news of a new Covid variant. Loungers’ CEO Nick Collins said he [...]
Car retailer Cazoo expands into France and Germany following second-hand car boom December 1, 2021 European car retailer Cazoo has expanded into France and Germany, with the online company plotting to grow its inventory of cars. Cazoo now employs more than 3,800 people across the UK, France, Germany, Spain and Portugal, as it looks to expand its offer across the continent. The company has seen a revenue boom thanks to [...]
Gymshark to open first physical store on Regent St December 1, 2021 Online clothing retailer Gymshark has announced plans for its first physical store on Regent St, London. The fitness apparel firm will open its first physical bricks-and-mortar site at 165 Regent St, which boasts 180,000 square feet. The firm is eyeing an initial public offering over the next few years after racking at 17m customers across [...]
Loungers beats pre-pandemic sales as customers flock back and expansion picks up pace December 1, 2021 Bar and restaurant group Loungers has beaten pre-pandemic sales as customers flocked back to its sites following the lifting of Covid restrictions earlier this year, the company has revealed. Revenues hit £102m in the six months to October 3 with a pre-tax profit of £12.8m as bosses opened 12 new sites and aims to open [...]
Christmas travel: Brits able to fly into Geneva before sloping off to France November 30, 2021 Brits will be able to fly into Geneva for their Christmas ski trips before travelling on to France, Switzerland advised travel firms today. Travellers leaving from Britain will be exempt from the 10-day quarantine, which was imposed late on Saturday amid Omicron concerns, provided incoming Brits are headed straight for the border. Skiworld marketing director [...]
Fashion dynasty: Founder’s daughter to take over as Zara chair November 30, 2021 The daughter of the founder of fashion chain Inditex is set to become the group’s chairwoman and head brands including Zara and Bershka. Marta Ortega is to replace Pablo Isla on 1 April, who has been chairman of Inditex since 2011, while Oscar Garcia Maceiras will become the CEO of Inditex immediately. “We think that [...]
Lego staff get to play with three extra days off after profits surge 140 per cent November 30, 2021 Lego has rewarded its 20,000-strong workforce with three extra days off and a bonus after the world’s biggest toymaker had an “extraordinary” year of profits, according to reports. The Danish company’s owners wanted to acknowledge employees’ contributions, a Lego spokesperson told Bloomberg. The family-owned business recorded a net profit of 6.3bn Danish kronor (£715m) for the [...]
