Remy Cointreau chief executive steps down for personal reasons July 9, 2019 The chief executive of French spirits company Remy Cointreau will step down at the end of the year for personal reasons. Valerie Chapoulaud-Floquet, 56, will continue to exercise her mandate until a successor is appointed. Read more: Remy Cointreau keeps its spirits up She joined the group in September 2014 and led the company’s development [...]
M&S seeks to persuade investors of Ocado deal benefits July 9, 2019 Marks & Spencer today insisted its £750m joint venture with Ocado would boost profits as it aimed to persuade uncertain investors on the benefits of the deal. The high street giant is aiming to double the size of its food business and said the tie-up with the delivery service would set it “well on the [...]
Why Ocado shares have been chased sharply higher July 9, 2019 | City Talk A costly warehouse fire hasn’t dented enthusiasm for the shares. Our head of markets explains. Ocado (LSE:OCDO) transformation from online retailer to cutting-edge technology provider remains clear for all to see. The Andover fire in February was an unwelcome distraction and has come at a cost both in actual terms as well as in lost [...]
Losses deepen as Ocado reveals cost of Andover fire July 9, 2019 Ocado suffered a sharp downturn in losses during the last six months as a devastating fire at one of the firm’s flagship warehouses scolded the firm’s performance. The delivery giant’s pre-tax losses slid to £142.8m in the first half of 2019, plunging from £13.6m during the same period in the previous year, as a major [...]
Sports Direct set for Game Digital takeover after securing shareholder backing July 9, 2019 Sports Direct said today that it has wrapped up enough support for its takeover offer of Game Digital, paving the way for Mike Ashley’s latest high street acquisition. The retailer has said its offer for Game Digital is now unconditional, as its own 38.5 per cent stake and backing from other shareholders takes its support [...]
Online sales to overtake high street in next decade July 9, 2019 Internet shopping will overtake physical stores in the next 10 years as deliveries become cheaper, faster and more convenient, a new report has found. Online sales are estimated to account for 53 per cent of all retail sales by 2028. Read more: Mike Ashley calls for online sales tax to revive high street The popularity [...]
June retail sales drop drags average to 20-year low July 9, 2019 Declining retail sales in June dragged the yearly average down to the lowest level in more than 20 years as this summer’s weather failed to match the 2018 heatwave. Total sales decreased by 1.3 per cent in June, compared to a rise of 2.3 per cent in the same month last year, according to research [...]
Debenhams urges Sports Direct to drop legal action over restructuring plan July 8, 2019 Debenhams has urged Mike Ashley’s Sports Direct to drop its lawsuit over the department store chain’s controversial insolvency plan after a key landlord withdrew its legal action. Sports Direct has filed a complaint against the company voluntary arrangement (CVA), which will allow Debenhams to close some 50 stores in a bid to stay afloat. Read [...]
Primark founder Arthur Ryan dies following short illness July 8, 2019 Primark founder Arthur Ryan has died, the high street retailer announced today. Ryan, who was the chairman and former chief executive of the budget fashion chain, passed away aged 83 following a short illness. Read more: Primark owner blames sales drop on unseasonable weather The businessman founded the first Primark store under the name Penney’s [...]
British Airways owner set for record £183m fine after 2018 data breach July 8, 2019 British Airways is gearing up to face a record £183m fine by authorities after a data breach caused it to lose more than 400,000 customers’ information. The airline’s owner, International Consolidated Airlines Group (IAG), announced this morning it would make “any necessary appeals” in response to the penalty. Read more: British Airways data breach: How [...]
