Sports Direct may sell famous brands in bid to become more upmarket January 8, 2017 Sports Direct is looking into selling several of its brands as part of its bid to become the “Selfridges of Sports”. Founder Mike Ashley’s mission to turn the company’s standing around and to make Sports Direct more upmarket has reportedly progressed to ditching brands no longer deemed relevant to the UK market. According to sources, [...]
Online retailers including Asos and Boohoo set to be the winners of the festive season January 8, 2017 Retailers with a strong online offering are set to be some of the biggest winners of the festive season's trading, with analysts pencilling in sales jumps for Asos and Boohoo of 30 per cent and 46 per cent respectively. The City had been fearful that the festive period was a bloodbath for retailers after Next [...]
All eyes on M&S clothing – and its chief executive Steve Rowe – as the retailer unveils its latest results collection later this week January 8, 2017 Marks & Spencer's beleaguered clothing division could finally be on the up, with sales growth expected by some analysts when the high street behemoth reveals its third quarter results this week. On 12 January, M&S will reveal its third quarter to 31 December. Analysts are on average forecasting like-for-like sales growth in its clothing and home [...]
Solid fare expected from the UK’s listed supermarkets this week, including Tesco and Morrison’s, as a raft of retailers reveal their seasonal sales results January 8, 2017 The UK's three major listed supermarkets are expected to report solid Christmas trading this week, although investor focus will be on the outlook given this year's expected squeeze on consumer spending. On 10 January, Morrison's is expected to report underlying sales growth of 1.1 per cent for the nine weeks to 1 January according to [...]
Tui in talks with Swiss firm Kuoni and American companies KKR and Warburg Pincus over Travelopia sale January 8, 2017 Tour operator Tui is in talks with Swiss rival Kuoni and American buyout giants KKR and Warburg Pincus over the sale of a range of travel websites. In September of last year, Europe's biggest tour operator confirmed it had asked Citigroup to find a buyer for specialist holiday arm Travelopia in a deal potentially worth €500-600m (£428m-£514m). [...]
Private equity firm 3i mulls sale of retailer Hobbs for as much as £80m January 8, 2017 It could be a busy New Year for 3i. City A.M. understands the British private equity firm is looking to sell clothing brand Hobbs, which it has owned since 2004, for as much as £80m, with investment bank Rothschild being lined up to handle the auction. 3i declined to comment. The retailer undertook a strategic review of the [...]
CitySprint cycle courier wins workers’ rights in a key gig economy ruling January 7, 2017 A courier for same-day delivery firm CitySprint has won the rights to paid holidays and minimum pay in a landmark ruling by the central London employment tribunal. CitySprint claimed its couriers were not employed but were independent freelancers, meaning they aren't covered by statutory protections like holiday pay. But the tribunal ruled Margaret Dewhurst was not self-employed and is therefore [...]
Fabric reopens tonight with a mystery lineup and tougher security measures January 6, 2017 After four months of barred doors, Fabric nightclub is set to reopen tonight with stricter anti-drugs and security rules. After several drug-related deaths, the iconic London club was shut down by Islington Council in September. However, in November, after fervent campaigning, the nightclub was reopened under new measures. Those measures include banning clubbers under 19 years old [...]
The cost of New Year’s resolutions: Here’s how much you’ll spend on fancy diets and gym clothes January 6, 2017 After Public Health England warned Londoners they drink too much and don't exercise enough last month, many of us took the hint and set a New Year's resolution to get fit. In fact, the most popular resolution set in 2017 was to achieve a healthier lifestyle with a third of Brits setting goals to exercise more and [...]
Jamie’s Italian to slim down with restaurant closures January 6, 2017 Jamie's Italian is slimming down. The celebrity chef's restaurant group is shutting six of its outlets, which are likely to be sold in the first quarter of this year. The Brexit vote has been weighing on the business, and Jamie's has decided to close the restaurants which aren't getting enough people through the door. Campaign group [...]