Chinese online retailer JD.com’s revenue growth slows amid trade war concerns November 19, 2018 Chinese e-commerce giant JD.com today reported its slowest quarterly revenue growth since its 2014 initial public offering. The company, which is backed by Walmart, Google and China’s Tencent, reported a 25 per cent rise in revenues for the last quarter, totalling 104.8bn yuan (£11.75m). But the growth was well below previous rates, which hit 60 per [...]
Black Friday footfall to dip as retailers extend discounting into the weekend November 19, 2018 Footfall during this year’s Black Friday is expected to slide, with fewer consumers feeling the urgency to shop on Britain’s high streets as retailers plan to extend the frenzied day of discounting into the weekend. Research out yesterday from analytics firm ShopperTrak is predicting the volume of shoppers on the high street will be 6.5 per [...]
Troubled cake chain Patisserie Valerie given until January to agree loan with main lenders November 19, 2018 The owner of troubled cafe chain Patisserie Valerie has said it has won more time to strike a loan agreement with its principal lenders that will allow it to cover existing debt. Patisserie Holdings originally had 45 days from 12 October to agree a loan facility with lenders, but that time period has now been extended to [...]
Housebuilder Weston sees profits soar as it plans £28m expansion November 19, 2018 Housebuilder and office provider Weston has reported a huge increase in revenue and pre-tax profits as the developer cashes in on rising demand for new homes. The volume housebuilder, which operates in London and the south east, said its pre-tax profits increased over 50 per cent year on year to £35m. The group’s revenue was up [...]
Caffeine kick gets greener as Nespresso makes pods from sustainable aluminium November 19, 2018 Breakfast drinks will cause slightly less environmental damage after Nespresso teamed up with Rio Tinto to make its coffee pods from ethical aluminium. The two companies are working to ensure that 100 per cent of the metal in Nespresso’s popular pods are sustainably sourced by 2020. By then every pod that goes into a morning [...]
Crunch time: Edible insects hit supermarket shelves as UK goes nuts for bugs November 19, 2018 Roasted crickets hit supermarket shelves yesterday as Sainsbury’s became the first UK retailer to stock edible insects. The supermarket chain has launched a range of barbecue-flavoured crunchy roasted crickets, which are described as “crunchy in texture with a rich smoky flavour”. The crickets cost £1.50 per packet and are available in 250 Sainsbury’s stores across the [...]
Thank God it’s Black Friday – why retailers need price transparency to make a success of the festive season November 19, 2018 During the early days of what quickly became known as the “retail apocalypse” back in 2010, a commentator or retailer would come out in the press and say that all the doom and gloom was overstated. The sector, they’d argue, was merely riding out a bumpy stretch of road, and would undoubtedly emerge on the [...]
London pub and restaurant sales buck the trend as casual dining chains struggle to stand out November 19, 2018 Pub and restaurant groups in the capital delivered “relatively healthy” like-for-like sales in October, but growth remained flat across the rest of the country. Overall like-for-like sales grew 2.5 per cent in London, compared with a 0.5 per cent fall outside the capital. Sales in managed pubs and bars were ahead of restaurants, increasing 3.6 [...]
Cash machine ruling hits London councils with £60m rebate November 19, 2018 London councils are to cough up a hefty rebate to retailers following a recent court ruling that decided firms should not be liable for business rates on cash machines outside their stores. Nearly 2,400 supermarkets, small shops and petrol stations are set for a £60m windfall from London’s councils following a five-year legal dispute which [...]
Evans Cycles set for closures in spite of ‘profit’ November 18, 2018 Sports Direct owner Mike Ashley is set to close a swathe of Evans Cycles stores in spite of recent suggestions that most of its outlets turn a profit. The retail magnate has warned that he might only be able to keep half of Evans Cycles stores open in the future “in order to save the [...]