Two Sainsbury’s executives to step down in boardroom shake up October 29, 2019 The new chairman of Sainsbury’s is planning a major boardroom reshuffle as the UK’s third-biggest supermarket tries to move on from the collapse of its planned £15bn merger with Asda. Read more: Sainsbury’s heir to the thrown quits to join media powerhouse WPP Google’s Europe operations chief Matt Brittin and ex-Marks and Spencer executive Jean [...]
UK shoppers call for carbon footprint data October 29, 2019 More than 70 per cent of UK consumers want businesses to share data regarding the carbon footprint created in the making of their products so they can make more ethical purchasing decisions. According to a new poll commissioned by En+ Group, the world’s largest producer of low carbon aluminium, 68 per cent of the UK [...]
Mike Ashley calls Goals Soccer Centres’ move to call in SFO ‘too little, too late’ October 29, 2019 Mike Ashley today blasted a reported move by embattled Goals Soccer Centres to enlist the Serious Fraud Office (SFO) to investigate suspected fraud. The Sports Direct owner called the alleged action “far too little, too late”. Read more: Goals Soccer Centres calls in fraud watchdog The billionaire added that it “is a deliberate case of [...]
Shop Direct could fail unless £150m is found, auditor warns October 28, 2019 Shop Direct, the UK retail group owned by the Barclay brothers, could collapse unless it finds £150m to cover the costs of payment protection insurance (PPI) compensation, its auditor has warned. Read more: Media veteran David Montgomery weighing up Telegraph bid The Littlewoods.com and Very.co.uk owner last week revealed it had seen higher-than-expected demand for [...]
Hammerson consults shareholders over executive pay concerns October 28, 2019 Property developer Hammerson is continuing to consult shareholders after two resolutions, including its remuneration report, faced investor backlash at the company’s latest annual meeting. The shopping centre landlord, which owns Birmingham’s Bullring, said that the remuneration report was approved by shareholders, but noted that 29.7 per cent of the votes were against the policy. Read [...]
Britannia Hotels tops list of worst UK hotel chains for seventh year October 28, 2019 Britannia Hotels has been named the worst hotel chain in the UK for the seventh year in a row as guests slammed it for poor cleanliness and value for money. Customers gave the hotel chain, which has 61 venues across the UK, one star ratings in almost every category. Read more: Profit dips at Whitbread [...]
Orla Kiely collapse ‘sparked by US expansion’ October 28, 2019 The collapse of fashion brand Orla Kiely was sparked by the retailer’s attempt to expand in the US, according to the latest administrators report. Kiely Rowan, the parent company of the clothes and homeware designer, collapsed into liquidation in September last year. Read more: Orla Kiely shuts up shop A progress update by administrators Quantama [...]
Walgreens Boots Alliance profit hit by cost-cutting charges October 28, 2019 Walgreens Boots Alliance reported plunging profit in the fourth quarter as the owner of UK high street giant Boots took a hit from cost-cutting charges. Profit in the fourth-quarter plunged 55 per cent to $677m, compared to the same quarter in the previous year as the group closed stores. Read more: Big boots to fill: [...]
Retail stockpiling soars on Brexit uncertainty October 28, 2019 Retail stock levels in relation to expected sales soared to record levels this month as high street stores prepared for the crucial Christmas trading period and potential Brexit related disruption. The spike in stock adequacy, which reached the highest level since records began in 1983, came as retail sales declined for the six consecutive month. [...]
LVMH confirms Tiffany approach in largest bid in company’s history October 28, 2019 The French multinational behind brands such as Louis Vuitton, Dior and Moët & Chandon today confirmed it had approached Tiffany & Co about a possible takeover of the U.S. jeweller. In a statement, LVMH, which is the world’s largest luxury goods group, said: “In light of recent market rumours, LVMH Group confirms it has held [...]
