Estée Lauder snaps up Tom Ford in £2.4bn luxury swoop November 16, 2022 Estée Lauder announced that it would be buying designer fashion house Tom Ford in a deal worth $2.8bn (£2.4bn). The deal, which was announced late last night, is the luxury cosmetics biggest acquisition to date. The French firm said the tie-up would “unlock new opportunities” for both sides. Under the agreement, Tom Ford, Founder and [...]
Premier Foods boosted by consumers eating at home amid rising inflation November 16, 2022 Premier Foods’ revenues continue to rise despite inflation, as the cost of living crisis pushes consumers towards cheaper brands. The London-listed food group, which owns Batchelors, Bisto and Lloyd Grossman brands, has continued to perform well under economic pressure in the UK and across the world. Group revenue rose more than six per cent to [...]
Made.com to sell off existing furniture stock to recover funds for out of pocket shoppers November 15, 2022 Made.com is to sell off remaining sofas and tables, in a bid to recover funds for creditors, administrators for the collapsed furniture firm said. Auction house John Pye & Sons has been appointed by administrators of the business, which was hammered by consumers pulling back on homeware purchases. Administrators PricewaterhouseCoopers (PwC) said it had appointed [...]
Russia exit drags on Imperial Brands’ profits November 15, 2022 Tobacco giant Imperial Brands reported a sharp fall in profits for the year today following a £463m hit from its exit from Russia earlier in the year.
Hospitality venues slash days open to save on energy costs November 14, 2022 Pubs and restaurants are planning to slash trading hours this winter due to “extortionate” energy costs, with bosses calling for government aid. More than 1 in 20 hospitality firms planned to stop trading for two or more additional days a week in November, fresh data from the Office for National Statistics (ONS) has revealed. This [...]
Amazon to slash 10,000 corporate and tech jobs – reports November 14, 2022 E-commerce behemoth Amazon is mulling laying off around 10,000 people, it has been reported, amid a torrid slew of tech lay-offs last week. According to a report in The New York Times, redundancies for corporate and technology roles could begin as early as this week, people with knowledge of the matter said. This would mark [...]
Madame Tussauds owner names Scott M. O’Neil as new CEO November 14, 2022 Legoland theme park owner Merlin Entertainment has announced its new chief executive officer as Scott M. O’Neil. The Alton Towers and Madame Tussauds owner said on Monday that O’Neil will step into the shoes of outgoing boss Nick Varney, who has served a 23-year stint. O’Neil’s CV boasts previous roles including a stint as CEO [...]
Primark website crashes on first day of click and collect trial November 14, 2022 Primark’s first foray into online shopping hit a hurdle on Monday morning as the high street name’s website crashed. The budget apparel seller has launched a trial in 25 stores in north-west England and north Wales, for children’s clothes to begin with. “We’re working hard to address this to ensure that everyone can access and [...]
Workers at Jaffa Cake bars factory threaten ‘permanent strike’ over pay November 14, 2022 MORE than 750 workers at the Jaffa Cake bars factory have threatened to stage a permanent walkout over pay until bosses agree to get back to the negotiation table. Staff at the Aintree plant – who also make Jacobs Cream Crackers and Twiglets – have been taking limited industrial action since September over cost of [...]
Klarna amps up super-app aims with price comparison tool November 14, 2022 Klarna is looking to become an “assistant for each and every step of your shopping journey”, one of the fintech firm’s top bosses told CityA.M. today, as it ramps up efforts to become a ‘superapp’ with a new price comparison tool. The Swedish buy-now-pay-later firm has launched the search and compare tool in its Klarna [...]