Sir Philip Green sells former BHS headquarters for £44m March 10, 2019 Retail tycoon Sir Philip Green has sold a former BHS headquarters in London as his fashion empire Arcadia faces challenges on the high street. Green, who has been under fire over allegations of racial abuse and sexual harassment – which he denies – has sold Marylebone House to property investment company Aprirose for £44m. Read more: [...]
Asda to stop selling single knives by end of April March 9, 2019 Asda has announced plans to remove single kitchen knives from sale in response to growing concerns over knife crime. The supermarket chain said the knives would be removed from all stores by the end of April following a rise in knife-related deaths across the UK and in London. So far this year at least 39 [...]
MPs investigate Debenhams’ pension schemes as retailer struggles to stay afloat March 8, 2019 MPs are scrutinising the Pensions Regulator’s possible involvement in Debenhams’ refinancing discussions after the retailer issued a second profit warning earlier this week. Read more: Debenhams shares jump on Mike Ashley power grab Work and pensions committee chair Frank Field wrote to the regulator’s chief executive, Lesley Titcomb, to probe its involvement with the struggling [...]
Ikea releases kama sutra guide for bedroom satisfaction March 8, 2019 Swedish furniture retailer Ikea has released a "kama sutra" e-book that presents an array of options for positions that bedroom furniture could be displayed in. The US marketing campaign includes a 44-page e-book with illustrations of various styles accompanied by kama sutra phrases as well as a TV advert. Read more: Goals Soccer Centres' shares plummet [...]
Technology can save the high street and future-proof the entire retail ecosystem March 8, 2019 Ever since the first online transaction over a quarter of a century ago, we’ve been bombarded with a growing number of claims that the high street is dead and online is king. The recent downfall of former offline strongholds such as BHS, Toys R Us, and House of Fraser are often cited as evidence that [...]
Ladbrokes owner GVC shares plunge as bosses offload majority of their holdings March 8, 2019 Shares in GVC plunged 18 per cent this morning as chief executive Kenneth Alexander and chairman Lee Feldman offloaded the majority of their holdings in the online gambling company. Alexander sold £13.7m of stock and Feldman sold £6m of his holding, prompting other investors to dump their shares despite assurances that the pair will not [...]
High street suffers worst February in a decade as retail woes continue March 8, 2019 Half-term holidays and unseasonably warm weather failed to boost the struggling high street as retailers suffered their worst February in a decade. In-store like-for-like sales dropped 3.7 per cent last month, marking the worst figures since 2009, according to data published by accountancy firm BDO. Read more: Quiz shares plummet on second profit warning this [...]
Goals Soccer Centres shares price plummets after issuing second profit warning of the year March 8, 2019 Goals Soccer Centres has issued a profit warning after uncovering "accounting errors" in a review of the financial year ending 31 December 2018. The five-a-side football centre says that the full year results will be "materially below expectations" and will now delay the publishing of results beyond the planned date of 12 March 2019. The [...]
Debenhams shares bounce back as Mike Ashley launches power grab March 8, 2019 Shares in embattled department store chain Debenhams jumped as much as 25 per cent this morning after Mike Ashley launched an audacious bid to take control of the company. The retail mogul last night demanded an extraordinary general meeting of Debenhams shareholders, calling for all but one of the existing board members to be ousted. Read [...]
The real John Lewis bonus today was Waitrose March 7, 2019 Caution was in no short supply at this morning's breakfast with the bosses of John Lewis Partnership. Over coffee and croissants at its Victoria HQ, the retail giant’s directors echoed worries that the industry as a whole has been voicing for months: namely, the major structural changes on the high street and fears over a [...]
