AO World founder John Roberts has stepped down as CEO – here’s who’s replacing him February 22, 2017 John Roberts, the founder of British online electrical retailer AO World, has stepped down as chief executive but will remain on the board. Steve Caunce, the retailer's chief operating officer, will replace Roberts as CEO. Earlier this week, Morgan Stanley downgraded AO World saying its overall growth in the UK will be weak over the next few [...]
Milk giant behind Lurpak and Anchor increases prices for supermarkets February 22, 2017 The UK's largest dairy company, Arla Foods, has increased the prices of its products for supermarkets. The co-operative, which is behind brands such as Lurpak, Anchor and Cravendale, has been forced to hike prices due to the milk price rises in the last four months of 2016. Read more: Manufacturing giant Premier Foods considers price rises [...]
Unilever share price rises as it reveals plans for business review in wake of collapsed Kraft Heinz deal February 22, 2017 Consumer goods giant Unilever has pledged to shake-up its business on the back of a £113bn botched takeover attempt by rival Kraft Heinz. The FTSE 100-listed consumer products group issued a statement to the Stock Exchange in the wake of a collapsed potential deal with US rival Kraft Heinz, which is part-owned by Warren Buffett and [...]
Now the Treasury Select Committee says it will take evidence on the business rates revaluation February 22, 2017 Andrew Tyrie has written to the chancellor for clarification on the controversial business rates revaluation. Pressure is growing for a review on an upcoming business rates revaluation after Tyrie, chairman of the Treasury Select Committee, said the Committee will take evidence on the revaluation and its effects on the economy. Many, including London mayor Sadiq Khan, [...]
A London estate agent has demanded Sadiq Khan offers firms a Crossrail levy holiday as the business rates row continues February 22, 2017 Sadiq Khan's comments on business rate rises in the capital clearly haven't gone down well with some… The mayor said yesterday he was "shocked" by business rate rises set to hit the capital – but a boss at estate agent and consultancy Colliers International has said the mayor can take action himself, and called on Khan to do more. [...]
Life is sweet for Hotel Chocolat as it unveils a 28 per cent surge in first-half profits February 22, 2017 Life's pretty sweet for Hotel Chocolat at the moment: it has beaten expectations in its interim results and recorded a rise in profits too. The figures The chocolatier and retailer beat expectations with a tasty 28 per cent jump in pre-tax profits to £11.2m in the first half of the financial year. Reported revenue rose 14 per [...]
High street stalwart Debenhams shakes off payment scandal February 22, 2017 Last week, Debenhams was named by the government as one of the worst companies for underpaying staff. YouGov Brand Index data shows how the news has altered perception of the brand. Over the last year, I have discussed how adverse stories about pay have damaged companies including Sports Direct and Harrods, but also how positive [...]
Scottish craft brewer Innis & Gunn is now distributing in China and other Asian markets February 21, 2017 The UK's second-largest craft brewer Innis & Gunn today announced its beers will soon be available in Asia – the world's largest beer market. The Scottish brewer today announced a deal with Dxcel International to distribute its beer to the on and off-trade markets in mainland China, Hong Kong, Macau and Taiwan. The deal focuses on the brewer's flagship [...]
Clarks looks to revamp its property portfolio February 21, 2017 Clarks is looking to revamp its presence on the high street with a review of its property portfolio, conducted by consultancy Harper Dennis Hobbs. As part of the review, Harper Dennis Hobbs will be examining Clarks' 550 outlets to see if the company is in the right locations, and has the right type of stores. [...]
InterContinental to return $400m to investors as it unveils special divi and 11 per cent rise in its total dividend February 21, 2017 InterContinental Hotels Group is approaching 2017 with confidence after dishing up a chunky pay-out for investors in its yearly results. The firm, which runs hotels under brands including Crowne Plaza, Holiday Inn and InterContinental, reported a slightly better-than-expected yearly profit rise and said it will be returning $400m (£322m) to investors via a special dividend and [...]