Sainsbury’s to cut hundreds of management jobs January 21, 2020 Supermarket giant Sainsbury’s said today it would cut hundreds of management roles. It said the move was part of its plan to further integrate Sainsbury’s with catalogue retailer Argos which it bought in 2016 in a £1.4bn deal. Sainsbury’s said it had reduced its senior leadership team by 20 per cent since the start of [...]
The £300m luxury hotel with a secret tunnel to Harrods January 21, 2020 A £300m luxury hotel development with a secret tunnel to Harrods has been given the green light by the local planning committee. The Knightsbridge hotel will be a one minute walk from the iconic London department store, but also includes a disused underground pedestrian and goods tunnel linking the two sites. Kensington and Chelsea’s planning [...]
‘Clerical error’ wipes out Dixons Carphone’s sales growth January 21, 2020 Dixons Carphone was left red-faced today as it admitted that its sales growth figure actually represented a decline. The retailer updated the stock market on its Christmas trading figures this morning, telling investors it had enjoyed a two per cent rise in reported sales. However, six hours on Dixons Carphone reversed the number into a [...]
Aldi announces pay rise and recruitment drive January 21, 2020 Aldi has announced it will increase the hourly rate paid to in-store staff members and hire more than 3,800 employees this year as it pushes ahead with its UK expansion plans. The budget supermarket said all employees will earn a minimum hourly rate of £9.40, a 30p per hour increase from the previous minimum wage [...]
Upper Crust owner SSP sales rise on strong UK passenger growth January 21, 2020 Upper Crust owner SSP Group reported a slight rise in sales at the end of last year as the travel hub food operator benefitted from growing passenger numbers in the UK and North America. Like-for-like sales in the three months ended 31 December grew 1.2 per cent, in line with expectations, the company said this [...]
Joules store closures hurt half-year profit after full-year warning January 21, 2020 Joules revealed a dramatic plunge in profit to just £1.7m today as it took a £6.7m hit to close stores and relocate its head office in the six months to the end of November. The figures Joules booked an 82 per cent drop in profit before tax from £9.3m this time last year to just [...]
Mobile shopping startup Rezolve shuns security fears with planned Huawei tie-up January 20, 2020 Mobile shopping firm Rezolve is set to bag a bumper deal with Huawei to embed its technology into the controversial Chinese tech giant’s phones. The new capability is expected to be available from March, when Rezolve will reveal further tie-ups with retailers, restaurants and media partners. The technology allows consumers to make purchases by using [...]
Matalan suffers sales and profit drop in challenging retail environment January 20, 2020 Budget retailer Matalan suffered a drop in sales and profit at the end of last year as it fell victim to the challenges facing the UK high street. The clothing and homeware brand said total revenue dropped to £311.7m in the 13 weeks ended 30 November, from £315.6m the previous year, as consumer confidence and [...]
Online fashion retailer Sosandar beats expectations as sales soar January 20, 2020 Online fashion brand Sosandar said it expects full-year sales to beat market expectations following soaring growth at the end of last year, avoiding the gloom affecting many high street retailers. The Aim-listed retailer said investment in customer acquisition drove revenue up 136 per cent to £3.8m in the three months to 31 December, exceeding the [...]
Reiss owner mulls selling high street retailer January 20, 2020 The private equity owner of high street retailer Reiss is mulling putting the fashion chain up for sale following a period of strong performance. Warburg Pincus has appointed investment bank Rothschild to launch a review of strategic options for the business, which could involve a sales process, Sky News reported. If the US firm decides to [...]
