Innocent Drinks passes £300m in sales as European growth spikes July 3, 2017 Innocent Drinks, the UK smoothie-maker which is majority-owned by Coca Cola, passed sales of £300m for the first time last year as its European presence continues to expand. Sales grew by 23 per cent in the year to 31 December 2016, coming in at £303.5m. The company saw a return to profit, making £8.5m compared [...]
Sale is in The Works for stationery retailer at private equity group Endless May 21, 2017 The Works, a discount stationery and books retailer owned by turnaround private equity firm Endless, is readying to be sold or floated next year. Endless has enlisted the help of bank Investec to begin preparing a sale or listing, the Sunday Times reported. Read more: Why 3i is taking a step back from the UK [...]
Sir Philip Green’s knighthood still under threat despite his £360m payout to ease BHS pensions black hole March 21, 2017 Sir Philip Green's knighthood is still under threat despite his unprecedented £363m cash contribution to the BHS pension scheme. In a symbolic move, MPs voted to strip Green of his knighthood in October 2016. Earlier in the year one MP called him the “unacceptable face of capitalism” for his part in the collapse of BHS. However, [...]
Trump travel bans causes slump in US tourism March 20, 2017 Inward travel and tourism will contribute less than usual to the US economy this year, the World Travel and Tourism Council (WTTC) have said. The WTTC’s Impact Research report for 2017 shows that while the US travel and tourism sector is the worlds biggest, forecasted growth in the country’s travel and tourism industry is likely to [...]
Roboshop: How Morrisons is using artificial intelligence to stock its shops March 20, 2017 Morrisons is using artificial intelligence to stock its stores in a bid to improve efficiency and customer service. The supermarket is rolling out a system from tech firm Blue Yonder that uses artificial intelligence and machine learning to predict exactly what is needed in each of Morrisons' 491 stores. Read more: Amazon is looking for [...]
Matalan expands abroad with shops in Malta March 20, 2017 Matalan is expanding abroad with the opening of two new stores in Malta. The retailer currently has 227 stores in the UK, and the two stores in Malta add to Matalan's international portfolio, which comprises 23 stores. The new outlets at The Strand, Sliema and Zabbar Road, Fgura, will create jobs for around 60 staff. Matalan [...]
Travelodge is building a huge flagship site in London in addition to 15 new locations across the UK March 20, 2017 Travelodge is building its largest ever hotel in London to act as a flagship site for the City. The budget hotel chain's new build will create nearly 400 rooms in the heart of central London, and chief executive Peter Gowers called it a "milestone" for the company's growth. It is expected to open in 2018 on Middlesex Street near the Gherkin. Travelodge [...]
Marks and Spencer pulls advertising from Google over extremist content March 20, 2017 Marks and Spencer has become the latest firm to pull its advertising from Google after reports that it has been allowing adverts for UK companies to appear on extremist websites. A recent investigation by the Times showed that UK advertisements, from the likes of Sainsbury's, RBS and the UK government, have been posted on YouTube [...]
Mary Berry to launch new cakes with Finsbury Food Group March 20, 2017 Finsbury Food Group will be launching a new cake range with Mary Berry in the second half, but its share price fell at the open after it gave a cautious outlook on the year ahead. The figures For the 26 weeks ending 31 December, group revenue was flat at £156.6m. Profit before tax rose 5.3 [...]
Lack of online experience at major luxury brands undermining growth opportunities March 20, 2017 Lack of senior experience in ecommerce and emerging markets could be holding back profitability at top luxury brands, according to research by executive search firm DHR. The study of the world’s top 50 luxury goods businesses found that just five per cent of board members have experience in ecommerce, and only 16 per cent have [...]