Lidl gets injunction over Tesco trademark infringement – and it could cost UK’s biggest grocer £8m June 23, 2023 German-owned discount supermarket Lidl can have an injunction to stop rival Tesco copying its logo, London’s High Court has ruled, despite hearing it will cost Tesco nearly £8m pounds to remove them all. Britain’s biggest retailer Tesco in April lost a trademark lawsuit brought by Lidl after Tesco adopted a yellow circle against a blue [...]
Soaring inflation forces Brits to tighten belts on groceries as summer clothes, DIY and fuel sales pick up June 23, 2023 Brits are still splashing the cash amid soaring inflation, with retail sales estimated to have increased by 0.3 per cent last month off the back of non-food splurging. The main driver of sales was online, with non-store selling volumes up by 2.3 per cent, while food store sales were down by half of one per [...]
Boohoo drafts in former THG chief as it steams ahead with Revolution coup June 22, 2023 Boohoo has drafted in the former head of cosmetics from THG as it doubles down on its attempted boardroom coup at Revolution Beauty. Tensions between the fast fashion giant and troubled makeup brand have been brewing for the past week, after Boohoo, which holds a 26.6 per cent stake in Revolution, said it would vote [...]
Morrisons loyalty scheme helps hike sales to £3.7bn June 22, 2023 Morrisons has recorded a 0.9 per cent decline in group revenues, blaming a slowdown in sales across its petrol stations. During the quarter, its total sales excluding its fuel offering rose by 3.1 per cent to £3.7bn, and sales across its wholesale channel were also up 20 per cent. The former ‘Big Four’ grocery, which [...]
Ocado share price soars over 40 per cent following Amazon takeover rumours June 22, 2023 Shares in Ocado soared over 40 per cent this morning following speculation that Amazon is eyeing a takeover of its grocery technology business. The tech giant is reportedly mulling an £8-a-share move, The Times has reported, with Goldman Sachs and JP Morgan said to be acting for the potential bidders. “Bid chatter helped lift web-based [...]
DS Smith: Inflation can’t keep profits boxed up for Amazon cardboard provider June 22, 2023 DS Smith reported soaring profits and trading in line with expectations in its full year results this morning, as the package specialist continued to show strong resistance to high inflation and rising paper costs. The London-listed group – which delivers boxes and paper products to companies including Amazon and Brewdog – saw pre-tax profits up [...]
Whitbread: Premier Inn owner thanks London travel boom for hike in hotel sales June 22, 2023 Tourists flocking to London for the King’s coronation helped bolster Premier Inn owner Whitbread’s trading in the first leg of the year, as the hotel group revealed an 18 per cent hike in sales. As Brits embraced travel and leisure after the pandemic, the chain of affordable hotels said sales across its 800 strong portfolio [...]
Private equity firm Elliott joins £500m takeover race for Reiss June 21, 2023 US private equity firm Elliott Advisors has reportedly joined the race to takeover upmarket fashion brand Reiss from its current stakeholders Next and Warburg Pincus. Elliott has expressed interest in buying the fashion brand for upwards of £500m, Sky News has reported. Up to three parties are also keen to buy the brand, which is [...]
Revolution or all-out war? Firm brands ‘hostile’ Boohoo coup ‘self-serving and opportunistic’ June 21, 2023 All eyes turn to the AGM of troubled fashion giant Revolution Beauty as it hit back at “hostile” shareholder Boohoo ,labelling its attempted coup as “opportunistic” and “self-serving”. Boohoo, which holds a 26.6 per cent stake in the Revolution, revealed it would vote against chief executive Bob Holt, chairman Derek Zissman and chief financial officer [...]
THG share price up as firm eyes profitability boost while CEO gives up power to veto hostile bids June 21, 2023 THG said it was anticipating a “significant increase in profitability” in its half year results following a boost from its nutrition segment and and big losses earlier in the year. The e-commerce retailer said that CEO Matthew Moulding had given up his special share in the firm, which means that Moulding can no longer veto [...]