Jamie Oliver Group revenues fell 20 per cent last year amid lockdown August 21, 2021 Turnover at the Jamie Oliver Group fell by 19.7 per cent to £30m as the company felt the force of the pandemic and lockdowns, according to reports. Pre-tax profits for the group, made up of Jamie Oliver Holdings and Jamie Oliver Licensing, fell by 41.2 per cent to £4.9m according to The Times. The Holdings [...]
The award for London’s least hygienic borough to eat goes to… August 21, 2021 Waltham Forest is the most unhygienic London borough in which to eat, according to new research shared with City PM this afternoon. The area tops the list as London’s least hygienic borough for food as 13.2 per cent of its businesses received a rating of 2, meaning improvements are necessary, while 1 which means major [...]
Morrisons’ messy and dramatic takeover battle: Where are we now? August 20, 2021 Morrisons agreed a £7bn offer late last night in the latest twist in the UK supermarket chain’s dramatic takeover battle. Shares jumped this morning after investors digested the new deal from US private equity firm Clayton, Dubilier & Rice (CD&R). It comes weeks after a rival bidder, a consortium led by private equity rival Fortress, [...]
Happy investors: M&S shares jump after lifting full-year profit forecast August 20, 2021 British high street staple Marks & Spencer has lifted its profit guidance to around £350m for the year as its sales have begun to recover, inching towards its pre-pandemic recordings. The upbeat trading update seemingly left investors with a fresh bout of confidence in the retail heavyweight, as M&S shares jumped by 11.14 per [...]
Former boss of designer shoe brand worn by Meghan jailed for four years for £500k expenses scam August 20, 2021 The former boss of a designer shoe brand worn by the Duchess of Sussex has been jailed for more than four years after falsely claiming £500,000 in expenses. Roy Luwolt, 38, earned £150,000 a year as the self-styled co-founder and managing director of Malone Souliers, whose luxury footwear has been sported by celebrities including Meghan, [...]
Bidding war for Morrisons heats up as US private equity giant makes £7bn move August 20, 2021 A fresh £7bn bid for supermarket chain Morrisons has been put forward by US private equity firm Clayton, Dubilier & Rice (CD&R). The deal has been unanimously accepted by the board of the grocer and directors have said shareholders should vote in favour of the takeover at a meeting due in early October. It means [...]
Britain 2030: Writing off the high street is unambitious; its future is bespoke, local and community-driven August 20, 2021 After years of decline, the Covid-19 pandemic further hammered the high street, leading to boarded up shops and mass job losses, and some to declare the high street “dead”. But writing off the high street could prove to be unambitious, as, with the help of local government and private stakeholders, the post-pandemic high street could [...]
Londoners ‘disgusted’ by fashion industry abuses but lack money to shop ethically August 19, 2021 London consumers feel strong negative emotions about fashion industry exploitation, and that they want the industry cleaned up so they can enjoy shopping without guilt. More than two-thirds (68 per cent) of Brits taking part in a new survey that was shared with City PM felt either ‘disgusted’ ‘sad’ or ‘angry’ about the fact that [...]
Fresh landscape: Marshalls financials climb past pre-pandemic levels August 19, 2021 The financials at landscaping products group Marshalls have begun to surpass pre-pandemic levels, after the group watched operating profits collapse amid lockdown last year. Revenue hit £298.1m in the six months to 30 June, inching past the £280.1m it recorded in 2019. The group posted a profit before tax of £38.9m as it again surpassed [...]
Brits abroad: M&S to sell Percy Pigs and other classic products to over 150 countries August 18, 2021 M&S has teamed up with export platform British Corner Shop to sell 800 of its classic food products, including Percy Pig sweets and Luxury Gold Teabags, in an effort to recover its struggling business through online sales. It comes after the British retailer reported a significant annual loss in May, as pandemic store closures weighed [...]
