Amazon is looking for shop space in London, according to reports February 5, 2017 Tech giant Amazon has reportedly started searching for shop space in central London as part of its move into the grocery market. Amazon first revealed its ambitions to open grocery stores last December under the banner "Amazon Go". In a video, Amazon said it was using technology to create a shop with no check outs. Customers would [...]
Nobody panic, but your KitKat and Dairy Milk could be about to shrink February 5, 2017 Chocolate lovers could be about to witness some sleight of hand worthy of Willie Wonka – and might want to start stocking up on favourites such as KitKats and Dairy Milk bars. Sweet-making giants Mars, Nestle and Cadbury owner Mondelez, which make the classic snacks and many others, is said to be thinking of cutting the size of [...]
Alibaba ramps up its expansion plans with new office in Australia February 4, 2017 Alibaba has its eyes on more success Down Under, with the opening of a new base in Melbourne. It marks the e-commerce giant's first expansion in the region, as it looks to capitalise on growing global demand for products from both Australia and New Zealand. Founder Jack Ma said at the launch of his firm's new [...]
Lettuce panic: Now supermarkets are rationing iceberg lettuce and broccoli February 3, 2017 Planning on stocking up on vegetables for your next weekly shop? Hopefully you don't need more than three iceberg lettuces – because Tesco has now rationed customers per visit, due to poor growing conditions in Europe causing a shortage in stores. Signs have been sent to all Tesco stores to notify customers, apologising for any inconvenience. [...]
Little Chef roadside restaurant chain sold February 3, 2017 Little Chef's owner has announced the sale of the roadside restaurant business. Kout Food Group said today that it had sold its roadside portfolio to Euro Garages, a roadside retail company operating brands such as Starbucks, Subway and Greggs. Read more: Little Chef is being gobbled up City A.M. understands Euro Garages has bought all of [...]
Budweiser and AB InBev unwittingly get political with Super Bowl ad telling story of founder’s immigration to the US February 3, 2017 Budweiser and its owner Anheuser-Busch InBev have, apparently unwittingly, become embroiled in the American immigration debate. A 60-second Super Bowl TV advert, documenting the journey of the company’s co-founder Adolphus Busch from Germany to St Louis, has been interpreted as a pro-immigration message shortly after Donald Trump suspended entry from seven majority Muslim countries. Read [...]
Amazon’s sales jumped in the last quarter, but it missed analyst targets February 2, 2017 Online retail giant Amazon.com's share price fell four per cent in after-hours trading as operating income and revenue for the fourth quarter fell lower than expected. The figures Amazon reported a 22.4 per cent increase in its fourth-quarter revenue, driven by strong sales in the holiday period and increased Prime subscriptions. Net sales were up [...]
GVC shares jump after final quarter bonanza and debt savings February 2, 2017 Shares in online gambling firm GVC leapt nearly six per cent today after the firm revealed a jackpot fourth quarter that beat market expectations. Net gaming revenue (NGR), gross bets less associated payouts, jumped by nine per cent to €231m (£199m) in the final three months of the year. Read more: GVC shares jump after betting [...]
Estee Lauder’s share price climbs as it grows sales February 2, 2017 Beauty group Estee Lauder Companies' share price climbed four per cent as it reported strong sales in its second quarter results. The figures The company – which owns brands such as MAC, Clinique and Bobbi Brown – reported net sales of $3.21bn (£2.56bn) for the quarter ending 31 December, up three per cent as compared to the [...]
Sports Direct buys 11 per cent share in French Connection February 2, 2017 Sports Direct has bought an 11 per cent of French Connection, a stake that would allow the company to disrupt any buy-out bid for the ailing high street retailer. The move comes at a time of flux for the company, which has been hit by losses for five years. Activist investors have been pushing non-executives [...]