Consumer spending falls in October as shoppers continue to abandon the high street November 13, 2018 UK consumer spending dipped in October after having risen for two months, with an e-commerce rebound propping up a two per cent fall in face-to-face sales. Expenditure has fallen in six of 10 months so far this year, adding to a cocktail of concerns for bricks-and-mortar retailers, according to Visa UK Consumer Spending Index data [...]
Homebase named the UK’s worst retail website in rescue deal aftermath November 13, 2018 DIY retailer Homebase has been named the UK's worst online shopping website, alongside a plethora of other familiar names in a survey conducted by independent consumer body Which?. Homebase received a rating of 55 per cent as part of a survey with over 10,000 consumers evaluating their experiences online. Customers said they found the site [...]
Foxtons closes six London branches as challenging market flattens revenue growth November 13, 2018 Estate agent Foxtons has today confirmed the closure of six London stores, amid a downturn in sales that has led to a "challenging" market. The closures came as part of a cost-cutting drive at the firm to meet market conditions. Branches in Beckenham, Enfield, Loughton, Ruislip and Barnes, as well as its flagship Park Lane office, have [...]
DEBATE: Can we expect the Chinese celebration of Singles’ Day to make it over to Britain? November 13, 2018 Can we expect the Chinese celebration of Singles’ Day to make it over to Britain? Abbie Llewelyn, a writer and commentator, says YES. If you think that Valentine’s Day is a commercialised hallmark holiday, just wait until UK companies catch onto Singles’ Day. Originating at Chinese universities in the 90s, Alibaba made it what it [...]
Premier Foods boss announces departure as it tries to sell off Ambrosia custard brand November 13, 2018 The boss of Premier Foods is set to step down at the start of 2019. Chief executive Gavin Darby will leave after facing a huge shareholder revolt over summer that saw 41 per cent of investors vote against his re-election. The news comes as Premier Foods revealed it may sell off its Ambrosia custard brand [...]
Coty’s chief executive resigns days after supply chain issues saw shares dive 22 per cent November 12, 2018 Coty chief executive Camillo Pane has stepped down with immediate effect due to family reasons, the company said today. The cosmetics company named Pierre Laubies, previously chief executive of coffee giant Jacobs Douwe Egberts (JDE), as Pane’s successor. Chairman Bart Becht said: “We are very grateful for Camillo’s many contributions to Coty during his time [...]
Playtech stabilises Asia gaming sales after dramatic summer slowdown November 12, 2018 Online gambling software supplier Playtech stuck to its most recent full-year forecast today, as sales in Asia stabilised. The FTSE 250 group said earnings before interest, tax, depreciation and amortisation (Ebitda) should hit between €320m (£279.2m) and €360m for 2018. The firm progressed in line with expectations in its B2B gaming division, the update for the second half of 2018 said, [...]
Thai chain Giggling Squid has a lot to laugh about as earnings grow November 12, 2018 Thai restaurant chain Giggling Squid has reported increased earnings as it continues to expand across the south of England, bucking the UK restaurant industry’s downward trend. The company reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of £3.28m for the year to the end of March, up 54 per cent from last year, while [...]
Top of the class: London retailers post best results in Europe to push Paris into second place November 12, 2018 London’s West End has weathered problems on the high street to keep its position as the top of the European retail league, while seven of the top 10 shopping centres are in the UK. Shoppers spent almost €10.4bn (£9.1bn) on and around Oxford Street, Knightsbridge and Kensington for the year ending November, a 12 per cent [...]
Check it out: There’s a new Fortnum & Mason restaurant in the heart of the City November 12, 2018 Fortnum & Mason today opened a new restaurant and shop in the Royal Exchange in a move it said marks its commitment to London as a global financial capital. The restaurant will be the luxury department store’s first outlet in the City. In addition to its flagship Piccadilly location, which opened in 1707, the company [...]
