Food in 30 minutes: Sainsbury’s is latest to strike delivery deal with on-demand app Just Eat January 16, 2023 Sainsbury’s shoppers can prepare for groceries at the doorstep in just 30 minutes after as Britain’s second largest supermarket struck a deal delivery app with Just Eat. With the Just Eat app, customers will be able to order items from Sainsbury’s and have them arrive at their doorstep in under half-an-hour. The on-demand service will [...]
Marks and Spencer shells out £480m as it revamps UK stores in bid to become leading ‘omnichannel’ retailer January 16, 2023 Marks and Spencer (M&S) is to plough nearly £0.5bn into an accelerated UK-wide investment drive which will result in 20 new larger and improved stores across the UK in the next financial year. The retailer also aims to create over 3,400 new jobs whilst providing shoppers with a “seamless” customer experience. M&S said it was [...]
Matalan deal done but founder Hargreaves won’t be coming back January 16, 2023 A long-awaited debt-for-equity swap which will save retailer Matalan has been confirmed – but founder John Hargreaves, who has been around the business for forty years, will not be part of the new management structure. Hargreaves had tried to put a bid together with Elliot Advisers to take over the business. But a host of [...]
Gaucho to open Covent Garden restaurant as steak success continues January 16, 2023 COVENT GARDEN has been the home of ballerinas, opera singers and street performers for more than a century – and it will soon add Argentinian cowboys to its cast with the opening of a new outpost of steakhouse favourite Gaucho. The man behind the group, Rare Restaurants’ boss Martin Williams, told City A.M. he would [...]
British retailers cheer Christmas sales, but City analysts warn of coming storm January 15, 2023 Britain’s largest retailers kicked off 2023 strongly last week, posting better than expected Christmas sales, signalling the consumer is holding up a bit better than feared. Tesco’s like for like sales were 7.9 per cent higher, while Marks and Spencer pocketed a 7.2 per cent rise. Sainsbury’s also posted record Christmas sales. Those bumper numbers, [...]
Deliveroo shares in the spotlight this week as analysts say firm could be undervalued January 15, 2023 Investors will be watching Deliveroo’s share price this week when the firm releases a fourth quarter trading update on Thursday. The London-headquartered firm has been under pressure since floating on the stock market in 2021, with the share price down some 67 per cent from the original offer price. Competitors, the re-opening of society post-lockdown [...]
Debt write-off for Matalan but founder Hargreaves on his way out January 15, 2023 Bruised and battered retailer Matalan is set to tell markets tomorrow it has been rescued by a debt-for-equity swap with its lenders, according to a host of news reports this weekend. Founder John Hargreaves, who founded the fashion firm some forty years ago, is set to lose control of the firm despite his own last-minute [...]
Magners cider owner says cost of living and strikes help sink its profits as Brits stayed away from pubs January 13, 2023 The company behind Magners cider and Tennent’s lager disappointed investors on Friday as it said that strikes and cost of living pressures had eaten into its performance in recent weeks. C&C Group said that it expects operating profit to reach between €84m and €88m (£75 million to £78m) in the financial year. The company had [...]
Very: Shoppers splurge on air friers and games consoles, but group sales slide January 13, 2023 Sales at online retailer Very rose 2.2 per cent year-on-year during the busy festive season. Toys, gifts and beauty and home departments were the main beneficiaries of the spending splurge, with sales up 17.7 per cent and 10.2 per cent respectively. Games consoles and Ninja air fryers were the bestselling items during the seven weeks [...]
The Gym Group: Brits ditch the pennies and the £s as more fitness fanatics seek cheaper gym membership January 12, 2023 The Gym Group today said it has continued to win over customers in the face of the UK’s cost-of-living crisis as Brits flocked to the low-cost gym in seeking out better “value for money”. The low-cost gym owner said it had increased its membership numbers by 14.3 per cent over the past year, to 821,000, [...]