Beyonce buys out Ivy Park clothing brand from Topshop billionaire Sir Philip Green November 15, 2018 American singer Beyonce has severed ties with embattled Topshop billionaire Sir Philip Green by buying out his share in their fashion label Ivy Park. Beyonce and Sir Philip launched the gymwear venture in 2016 and the label is sold in Topshop, which is owned by Green’s retail empire Arcadia. But the global pop star has withdrawn [...]
Property firm Crosstree buys Edmonton Green shopping centre for £72m November 15, 2018 Real estate firm Crosstree has bought Edmonton Green Shopping Centre in north London for £72m, the company said today. The property firm, which co-owns retail space in the O2 arena, said it has exchanged contracts with owners St. Modwen for the 495,000 square feet (sq ft) shopping centre in Edmonton. The shopping centre, which sits on [...]
Debenhams supplier issue could be ‘nail in the coffin’ for department store November 15, 2018 Supplier problems that have reportedly hit Debenhams could be the “nail in the coffin” for the embattled department store, according to industry experts. A number of high street suppliers stopped working with the 240-year-old store after credit insurers reduced their protection, trade magazine Drapers reported. “They really need to implement strategic change in the business, [...]
Debenhams shares rebound as wider retail sector suffers in October November 15, 2018 Shares in embattled department store chain Debenhams have rebounded this afternoon after suffering its biggest single day loss in a decade yesterday. Its share price was up 18 per cent to 6.2p having fallen to a low of 4.6p earlier in the day – a 40 per cent drop since Friday. A number of high [...]
Card Factory posts higher revenues despite ‘challenging’ high street conditions November 15, 2018 Card Factory shares slipped today as high street sales stayed flat year on year for the nine months to October, despite the high street retailer enjoying an online boost. Group revenue grew by 3.4 per cent year on year for the period, but like-for-like sales stayed flat compared to the first nine months of 2017. Card [...]
Patisserie Valerie chief executive Paul May resigns as food industry veteran hired to turn embattled cake shop around November 15, 2018 The chief executive of troubled cafe chain Patisserie Valerie has resigned. Paul May has stood down with immediate effect and will be replaced by turnaround specialist Stephen Francis, the former chief executive of pork producer Tulip. Patisserie Valerie chairman Luke Johnson said: "I am delighted to welcome Steve Francis as new chief executive at Patisserie Holdings. "He has [...]
Debenhams shares continue to plunge on supplier woes in the run-up to Christmas November 15, 2018 Shares in embattled department store chain Debenhams have continued to plunge this morning on reports of supplier troubles in the run-up to Christmas. A number of high street suppliers have stopped working with the Debenhams after credit insurers reduced protection for suppliers, trade magazine Drapers reported. Its share price has dropped close to nine per cent this [...]
Retail sales slow in October as consumers hold off buying winter clothes November 15, 2018 Retail sales fell 0.5 per cent last month to six-month low, missing expectations from economists that they would rise by 0.2 per cent. The latest data from the Office for National Statistics (ONS) shows that in the three months to October 2018, retail sales increased by 0.4 per cent compared with the previous three months. This represents a [...]
Meatballs from home? Ikea launches takeaway delivery with Uber Eats November 15, 2018 The popularity of hygge, the Danish concept of cosiness, may be waning, but now Brits are being asked to embrace the even more impossible-to-pronounce fredagsmys, another Scandinavian import. As temperatures drop, Ikea and Uber Eats have teamed up to bring the Swedish furniture chain’s iconic meatballs into people’s homes. They hope Swedish fredagsmys – the [...]
Young’s boosts profits as pub investment pays off November 15, 2018 South London pub chain Young’s reported boosted profit this morning on the back of increased investment in its estate. Revenue was up 8.8 per cent from £144.1m to £156.8m, while profit before tax increased from 22.1m to 26.4m, a jump of 19.4 per cent, the company announced this morning in its interim results. The brewery [...]