Retail sales continue on upwards trend ahead of Christmas shopping season December 15, 2016 The amount Britons spent in November increased 5.9 per cent year-on-year, according to figures from the Office for National Statistics (ONS). At £34.2bn for the four-week period, retail sales in November were up 0.5 per cent as compared to October. This equated to an average weekly spend of £8.5bn. The ONS said retailers selling household goods had boosted their [...]
JD Sports working conditions: King of Trainers says alleged working practices aren’t in its training manual December 15, 2016 JD Sports has hit back at television reports of draconian working conditions at one of its distribution centres, denying the allegations and saying they are not an "accurate reflection" of working practices. An undercover report by Channel 4 news into the sports retailers Kingsway warehouse in Rochdale revealed staff saying working conditions were "worse than prison". Staff [...]
Online takeaway company Just Eat buys rivals Hungryhouse and SkipTheDishes December 15, 2016 Online takeaway company Just Eat has snapped up two of its rivals, Hungryhouse and SkipTheDishes, a Canadian firm. Shares in the group went up two per cent at the open. Just Eat paid £200m for Hungryhouse, which it bought from Delivery Hero. The group said a further cash amount of up to £40m "may also be payable, subject [...]
Punch Taverns takeover: Heineken and pub entrepreneur Alan McIntosh in bidding war December 15, 2016 Punch Taverns is in the midst of a takeover tussle between Heineken and Alan McIntosh, an entrepreneur who was one of the pub company’s founders. Shares in Punch soared as news of the two approaches emerged, ending the day nearly 38 per cent up at 177p. Yesterday morning, City A.M. revealed that McIntosh has tabled [...]
BI announces its best performing champagne for 2016 December 14, 2016 One of the world's leading fine wine merchants and traders has announced its top performing champagne of 2016. BI, formerly Bordeaux Index, said this year's best champagne on its LiveTrade platform was the 2007 Louis Roederer Cristal, with sales up 53 per cent since it was added to the live, two-way buying and selling platform [...]
Lingerie brand Bluebella secures £1m through crowdfunding for US expansion December 14, 2016 The British brand which created the official Fifty Shades of Grey lingerie has raised £1m – double its original target – in a crowdfunding campaign. Bluebella turned to its fans for help funding an expansion to the US, and reached a grand total of £1,088,700 by the time the campaign ended. Founder Emily Bendell said: [...]
The global e-cigarette market is set to be worth $32bn by 2021, and the UK market will grow to $5.67bn December 14, 2016 The global electronic cigarette market is set to be worth $32bn (£25bn) by the year 2021, while the UK market grows to $5.67bn (£4.46bn), a new report suggests. The "tremendous" growth rate of vapour products is due to increased popularity in North America, particularly the US, and European countries including the UK, a new report by Beige Market Intelligence [...]
It takes us more than an hour to unwind after work and even longer to switch off on holiday December 14, 2016 Well, good luck enjoying your holiday – it takes British workers 2.63 days of annual leave to switch off from work mode, new research suggests. The data also found it takes us a shocking 10.31 days of annual leave to feel able to return to work completely refreshed and relaxed. That's equal to more than half of the UK's statutory [...]
It’s take off for Gordon Ramsay Group’s Plane Food as it secures a 10-year Heathrow deal December 14, 2016 Gordon Ramsay Group has secured a 10-year extension of its Plane Food restaurant at Heathrow’s Terminal 5. The restaurant will close for 12 weeks next year as it undergoes a makeover, before reopening in July, when it will boast a new bar along with the creation of semi-private dining areas. Plane Food opened in Heathrow back [...]
Zara owner Inditex announces profit rise amid ongoing global expansion December 14, 2016 Inditex, the owner of various fashion brands including Zara and Bershka, has announced a nine per cent rise in its nine-month profit. Net profit reached €2.2bn (£1.85bn), and gross margin was 57.9 per cent. The Spanish retailer's earnings before interest, tax, depreciation and amortisation (Ebitda) increased 8.4 per cent, hitting €3.6bn. Read more: Zara owner [...]