Up in smoke: Imperial Brands to put breaks on dividend July 8, 2019 British tobacco giant Imperial Brands is set to abandon its ten per cent dividend growth target as it focuses on catching the vaping market. The news came alongside a £200m share buyback, sending the company soaring on the London exchange. Read more: Puffed – Imperial Brands shares drop on vaping slowdown Shares rose 2.74 per [...]
Matalan warns on margins after ‘tough’ May July 8, 2019 Matalan warned today that poor spring weather would dampen its second quarter results after the retailer was forced to slash prices. The budget fashion brand said May was one of the toughest months “in a number of years”, after unseasonable weather lead to earlier discounting. Read more: Matalan boosts revenue despite tough retail climate Total revenue [...]
ii view: Sales retreat at Sainsbury’s July 8, 2019 | City Talk By Keith Bowman from interactive investor. Tough comparatives have impacted results for this supermarket, but that is no surprise. First quarter trading for 16 weeks to 29 June 2019 Total sales down 1.2 per cent (excluding fuel) Like-for-like sales declined 1.6 per cent (excluding fuel) Grocery sales fell 0.5 per cent General merchandise sales down 3.1 per cent [...]
Lidl plans 500 new jobs in Scotland July 8, 2019 Supermarket chain Lidl is planning to hire 500 new people in Scotland across 12 new stores, it announced this morning. The low-cost grocer will add to its 98 stores across the country. It is already building new sites at Dundee, Cowdenbeath, Larkhall, Dumbarton and East Kilbride. Read more: Lidl unveils £500m London expansion plan for [...]
DEBATE: Boots is shutting 200 stores in the next 18 months – will this be enough to ensure its survival? July 8, 2019 Boots is shutting 200 stores in the next 18 months – will this be enough to ensure its survival? Rebecca Crook, chief growth officer at digital product agency Somo, says YES. Some 800m people a year walk through the doors of Boots, yet we know that being a heritage brand is not enough for today’s [...]
Vogue publisher Conde Nast dumps stake in retail platform Farfetch July 7, 2019 Conde Nast, the publisher of Vogue magazine, has dumped its £234m stake in luxury retail platform Farfetch. The company has concerns over how the marketplace is managed under founder and chief executive Jose Neves, according to the Sunday Times. Read more: Conde Nast launches new online magazine Vogue Business The newspaper reported that Conde Nast [...]
Sir Philip Green wins legal battle against US landlords July 7, 2019 Retail tycoon Sir Philip Green has won a legal battle with a group of US landlords after a court dismissed their claim following the collapse into bankruptcy of Topshop USA. Five US landlords including Vornado were attempting to recoup more than £100m, saying that Green’s restructuring of retail empire Arcadia had compromised their rights as [...]
Mr Kipling owner Premier Foods facing shareholder revolt over executive pay July 7, 2019 Mr Kipling owner Premier Foods could face a shareholder revolt at its upcoming meeting over pay handed to its former chief executive. Shareholder advisory firm ISS is urging investors to oppose the company’s remuneration report at its annual general meeting (AGM) next week. Read more: Mr Kipling owner boosted by Ambrosia and Loyd Grossman In [...]
Asos prepares job cuts as sales slump July 7, 2019 Around 100 jobs are at risk at Asos’s London headquarters as the online retailer battles with slumping sales. The fast-fashion brand is consulting on a round of redundancies, which will mainly affect the marketing department, the Sunday Times reported. Read more: Eurozone retail sales see suprise fall in May Asos issued a warning in December, [...]
Ocado to create 260 new jobs in Old Street tech hub July 5, 2019 Online supermarket Ocado will bring 300 jobs to London as it bolsters the digital talent behind its technology platform for supermarkets. The Ocado smart platform will be sold to companies across the world to help them move online, the firm said. Read more: Ocado pumps £17m into vertical farming joint venture The London office, in [...]
