Amazon launches Black Friday pop-up in Shoreditch after data leak hits UK customers November 22, 2018 Amazon has today opened a pop-up on London's Shoreditch High Street, just in time for Black Friday weekend. The Home of Black Friday pop-up store has returned to the capital after its debut last year, and is now located near Amazon's headquarters from Thursday 22 November until Sunday 25. The shop will feature hundreds of [...]
Financial Conduct Authority introduces price cap as it cracks down on rent-to-own sector November 22, 2018 Rent-to-own companies will be hit with a price cap as the City watchdog cracks down on the sector. The schemes, which allow customers to purchase household items such as fridges and washing machines on credit, will be subject to a cap limiting the cost of the product and the charge for credit, the Financial Conduct [...]
EU hospitality workers rank UK most desirable place to work November 22, 2018 Hospitality workers from across the EU have ranked the UK as the most desirable place to work, despite concerns about a shrinking workforce after Brexit. Sixteen per cent of workers in the hospitality sector named the UK as their top location, according to a survey of 21,000 employees carried out by Caterer.com. In addition, almost [...]
Glass half empty for retailer Majestic Wine as losses drive shares down November 22, 2018 Majestic Wine’s share price took a 14 per cent hit this morning after it posted half-year losses and predicted its full-year results to be “flat at best” against the year before. The figures The retailer posted a £200,000 loss for the six months to 1 October, down on a £3.1m profit for the same period last year. [...]
Intu granted second deadline extension for Whittaker consortium takeover offer November 22, 2018 Shopping centre giant Intu has again extended the deadline for finalising a takeover offer, the company said today. Intu, which owns the Trafford Centre in Manchester, said a consortium of buyers now has until 5pm on 30 November to announce its firm intention to make an offer on the company. The consortium is made up [...]
Mothercare shares fall as it puts the media in the firing line after losses widen in insolvency battle November 22, 2018 Losses have mounted at embattled childcare retailer Mothercare, which blamed it on critical press coverage of its financial woes as the company undergoes a restructuring process. Group managing director David Wood, who acted as interim chief executive earlier this year, stepped down from his position yesterday. Its share price fell more than 10 per cent as markets [...]
Footlocker shares leap on strong Nike sales November 21, 2018 Shares in trainer retailer Foot Locker jumped by as much as 20 per cent today after its third quarter results showed an increase in shoe sales, as customers flocked to buy Nike’s new Air Max range. Analysts had feared that Nike’s move to start selling shoes via Amazon and its own stores would hurt Foot [...]
West End retailers go to town on promotions to ensure expected £150m Black Friday boost November 21, 2018 Retail sales on London’s busiest shopping streets are expected to see a £150m boost over the Black Friday weekend amid challenging conditions on the high street, according to a trade group representing retailers in the area. Sales are expected to equal those of last year among around 600 retailers on Bond Street, Oxford Street and Regent Street, [...]
Bet365’s billionaire boss Denise Coates pockets massive £265m payout November 21, 2018 The chief executive of online bookie Bet365 Denise Coates took home £265m last year after giving herself a £21m pay rise. The billionaire businesswoman pocketed a salary of £220m, an increase from £199m last year and roughly a third of Bet365’s total profits for the year to the end of March, according to the company’s accounts. Coates, [...]
Sugar tax raises £154m but the government warns more must be done November 21, 2018 The sugar tax on soft drinks has raised £153.8m since it came into force in April, the government has said. The levy was rolled out seven months ago to help tackle childhood obesity, with revenue used to fund physical education in primary schools. The figure is less than half the original amount estimated when the tax was [...]