Tesco set to ‘axe up to 15,000 jobs’ January 27, 2019 Fears that Tesco will axe 15,000 jobs emerged over the weekend, amid reports that Britain’s largest grocer is planning to overhaul some of its store operations as part of a £1.5bn cost-cutting plan. Reports in the Mail on Sunday said today that thousands of employees in Tesco’s meat, fish and delicatessen counters face the firing [...]
Unilever boss looks to mend fences with the City in upcoming results January 27, 2019 The City will be turning its gaze towards Unilever later this week, with the consumer goods giant looking to reassure investors after a turbulent year which ended with the departure of long-reigning boss Paul Polman. The blue-chip firm behind Marmite and Persil is set to post its full-year results on Thursday under the leadership of Alan [...]
Millions of illegal cigarettes being traded on the black market are costing the UK £2bn in tax January 26, 2019 Millions of fake or bootlegged cigarettes are being sold throughout the UK on the black market to avoid paying duty on them. County councils in Hertfordshire, Durham and Lincolnshire have found illegal cigarettes stashed behind walls, hidden in toilet cisterns and in sweet boxes. The selling of fake cigarettes results in over £2bn of tax [...]
January retail sales hit new low as Brexit uncertainty hits consumer spending January 25, 2019 Sales hit their lowest levels in more than seven years in January as Brexit uncertainty continues to rock the retail sector, according to a new CBI survey. The survey of 103 firms, just under half of which were retailers, showed sales in January were well below the average for the month and marked the lowest levels since [...]
Human bone discovered in socks from Primark January 25, 2019 Police are probing what is believed to be the discovery of a human bone in a pair of Primark socks. Officers from Essex Police are liasing with the retailer after it said socks bought from a Primark store in Colchester were reported to the force on 2 January. A police spokesman said: "Detectives are continuing [...]
Mike Ashley tells HMV landlords: Give me six months rent-free January 25, 2019 Retail tycoon Mike Ashley is reportedly demanding a rent holiday from landlords of HMV stores as he negotiates a rescue deal for the music retailer. Ashley has written to HMV’s landlords to see a six-month period without having to pay rent if he buys the chain, according to reports. The landlords include major players in [...]
Cleared Tesco executive launches legal action against supermarket following £250m accounting scandal January 25, 2019 A former Tesco executive recently cleared over the retail giant’s £250m accounting scandal is suing the supermarket following the collapse of the Serious Fraud Office's (SFO) case against him last year. Chris Bush, one of Tesco’s most senior employees who joined the supermarket chain upon leaving school, was acquitted of charges of fraud and false [...]
Fuller’s calls time on brewing business as Asahi agrees £250m deal January 25, 2019 Fuller has sold its vast beer, cider, soft drinks and distribution business to Japanese producer Asahi for £250m, as the pub operator ends its 174-year role as a brewer. Shares in the pub giant jumped more than 20 per cent on news of the surprise deal, which includes the sale of iconic brand London Pride. [...]
Christmas sales slump at Bonmarché January 25, 2019 Women’s fashion retailer Bonmarché reported a drop in sales over the crucial Christmas trading period this morning. Total sales at the value fashion chain tumbled 8.1 per cent in the 13 weeks to 29 December, as the firm came in line with its recently reduced expectations. Like-for-like sales in the Christmas quarter slumped 11.1 per [...]
AG Barr expects rise in revenue as sales fizz January 25, 2019 Irn-Bru maker AG Barr has predicted a rise in full-year revenue this morning, despite echoing the fears of many in its industry over the current political and economic uncertainty. The firm said that revenue is expected to be roughly £277m for the year to 26 January, marking a five per cent rise on the previous [...]
