Asda ends price guarantee scheme as it eyes lower prices after Sainsbury’s merger September 6, 2018 Asda has joined the rest of the big four in ending a price guarantee initiative, saying it is "less relevant" to customers. The tool will be available until 3 October this year, and customers will still be able to redeem their vouchers for 28 days from the date they receive them. The grocer's chief customer [...]
Marston’s appoints Lazard’s UK CEO as its new chairman September 6, 2018 The UK boss of financial adviser Lazard is headed to the pub with a new job as chairman of Marston's. William Rucker will take on the position from the beginning of next month, taking over from interim chair and Tesco veteran Carolyn Bradley. He has been chief executive of Lazard in the UK since 2004. He has previously [...]
The sugar tax is failing – let’s empower people to make their own choices instead September 6, 2018 It’s been five months since the so-called “sugar tax” was introduced, charging manufacturers a levy according to the amount of sugar in their drinks products. Ostensibly its aim was to combat obesity. But recent Nielsen data shows that the tax has had little impact on consumer behaviour. Around two thirds (62 per cent) of consumers [...]
Dixons Carphone reveals flat revenue growth following data breach September 6, 2018 Dixons Carphone said it has avoided a loss in its latest trading period, following a cyber attack that saw up to 10m customer records hacked. The figures The electricals retailer said both UK & Ireland and group revenue was flat for the three months to the end of July in a trading update for its [...]
John Lewis have it right: changing tastes show retail’s centre cannot hold September 5, 2018 If you look past the shiny new signage on the front of the John Lewis & Partners flagship Oxford Street store, there is a much more interesting change going on inside. The retailer’s new name is not the only way it is signalling pride in its employees. Partners are becoming more visible throughout stores. “While [...]
John Lewis axes jobs amid name rebranding September 5, 2018 Department store chain John Lewis is cutting 300 jobs as part of a back office shake-up, it emerged yesterday. The job losses come as the retailer changes its name to “John Lewis & Partners” in an effort to underline the point that it is owned by its employees. A number of IT, finance and store [...]
Philip Day’s Edinburgh Woollen Mill Group ends business with House of Fraser September 5, 2018 The Edinburgh Woollen Mill Group has ended business with House of Fraser due to lack of confidence in the business's future. The company, owned by retail tycoon Philip Day, said it had not been able to agree future trading terms with new owners Sports direct. Concessions for EWM's brands including Jaeger and Jacques Vert closed [...]
Everyman revenues climb higher as cinema chain plots expansion September 5, 2018 Boutique cinema chain Everyman reported soaring revenues this morning as it rolls out to new sites around the UK. The company will open a cinema at the City's Broadgate development next year, making it just the second cinema in the Square Mile after the Barbican. The figures Revenue for the six months to 5 July [...]
M Restaurants founder to lead Gaucho as new owners take control September 5, 2018 Administrators have confirmed the sale of Gaucho to a pair of banking groups, and the appointment of M Restaurants founder Martin Williams to lead the business. As City A.M. has previously revealed, Investec and SC Lowy bought out the company's debt last month with a view to a takeover. Today administrators at Deloitte said Gaucho had been sold [...]
William Hill signs sports betting deal with casino giant Eldorado in US push September 5, 2018 William Hill has signed a 25-year partnership with US casino group Eldorado as it looks to expand into the growing US sports betting industry. Eldorado, which owns 21 casinos across 11 states, would take a 20 per cent stake in William Hill's US business and receive $50m in stock from the bookmaker. It comes after [...]