John Lewis crashes through £100m weekly sales barrier after 2014 Christmas advert launch November 18, 2014 Department store John Lewis yesterday said sales in the week ending 15 November rose 7.2 per cent compared to the same time last year. The retailer, which launched its closely watched Christmas advertising campaign last week, said sales surpassed the £100m barrier for the first time this year, with tills ringing up £108.8m. [...]
Ocado’s Royal warehouse November 18, 2014 OCADO is to move into Segro’s new warehouse Origin at Park Royal, in west London, after signing up for 68,393 square feet of space. The online grocer, which joins other retailers such as John Lewis also moving to the site, said it would use the warehouse to deliver groceries in central London. It already has [...]
Grocery market falls into decline for first time in decades November 18, 2014 BRITAIN’S grocery market declined in the past three months for the first time in at least 20 years, according to the latest data from Kantar Worldpanel, with sales down 0.2 per cent year-on-year. The fight to hold on to market share and win back shoppers defecting to discounters has ignited a price war in the [...]
Prudential lifts new business profits despite annuity slump November 18, 2014 Insurance giant Prudential grew its new business profit by 17 per cent in the first nine months of 2014, up to £1.5bn from £1.4bn in the same period of last year. The company reported that UK new business profit grew by 28 per cent in the first three quarters, to £209m, while annual premium equivalent [...]
Homeserve back on track in rebound from sales overhaul November 18, 2014 DOMESTIC repairs group Homeserve reported a surge in first-half profits yesterday, as it recovered from its mis-selling scandal. Pre-tax profits came to £25.3m for the six-month period, compared with just £600,000 in the first half of last year. Revenues edged up on the year to £241.7m. The results were also slowed by the strong pound [...]
New chief exec at Synthomer November 18, 2014 BRITISH chemicals company Synthomer has appointed Calum MacLean as chief executive to replace Adrian Whitfield, who will leave in January 2015. MacLean is currently on the board of Ineos. He serves as chairman of Styrolution, the firm’s joint venture with BASF, and Petroineos Refining, its joint venture with PetroChina. Whitfield announced in July that he [...]
M&C Saatchi takes a tilt at the US market November 18, 2014 ADVERTISING agency M&C Saatchi yesterday took an $8m (£5.1m) stake in US creative ad firm Shepardson Stern & Kaminsky (SS+K), which works with clients such as Game of Thrones creator HBO. M&C will own roughly one-third of the business, which has also worked on adverts for President Barack Obama, Wells Fargo and Starbucks.
US bank State Street brings TED talks to the East End’s Troxy November 18, 2014 As the US’ second oldest financial institution, you might expect 222-year-old State Street to be a bit fusty around the edges. But the banking stalwart’s chiefs look determined to keep the bank fresh – so much so they organised a TED talk day in the trendy East End Troxy theatre yesterday. TED talks are usually [...]
Saxo Bank launches pioneering cycle scheme with 2014 Vuelta Champion Alberto Contador November 18, 2014 Employees, clients and friends of Saxo Bank braved the damp yesterday to join 2014 Vuelta Champion cyclist Alberto Contador, Tinkoff-Saxo team manager Bjarne Riis and co-founder and co-chief of the bank, Lars Seier Christensen at Herne Hill Velodrome, where they were invited to ride with Contador in celebration of the 2014 pro-cycling season. Afterwards, the [...]
BDO’s UK outfit records 27pc turnover boost November 18, 2014 The UK arm of international accountancy and advisory firm BDO yesterday announced a 27 per cent increase in turnover for the financial year ended 4 July. BDO saw its turnover grow to £384m. The firm also boosted operational profits by 42 per cent to £78m. The 2013/14 results were the first to reflect the company’s [...]