M&S and Harrods pay tribute to ‘selfless devotion’ of Queen as Selfridges’ stores close September 9, 2022 High street leaders have paid their respects to Queen Elizabeth II, remembering her “comfort, leadership and steadfastness”. The Queen passed away yesterday at Balmoral Castle, after a reign spanning seven decades, aged 96. Luxury department store Selfridges announced its stores in London, Manchester and Birmingham would remain closed on Friday out of respect. The stores [...]
Morrisons’ takeover of McColl’s won’t risk higher prices for vast majority of shoppers, CMA says September 8, 2022 Morrisons’ takeover of McColl’s newsagents has resulted in competition concerns in just a small number of areas, a watchdog has found. The Competition and Markets Authority (CMA) said the supermarket’s £190m rescue deal meant that the vast majority of areas will not face reduced competition. However, in 35 areas, the deal has presented price increase [...]
Exclusive: WeWork introduces discounts to drive office workers back into London September 8, 2022 Flexible workspace provider WeWork has launched new incentives for London businesses to entice workers back into the city. The New York-headquartered company is working with BusinessLDN, with members of the advocacy group being offered access to new discounts. Businesses are able to access 50 per cent off WeWork’s All Access monthly membership fees for three [...]
Hospitality bosses slam government’s ‘drip fed support’ on mounting energy bills September 8, 2022 Hospitality leaders have said the government’s freshly announced energy bill support is a drop in the ocean compared to the mounting costs facing the sector. Prime Minister Liz Truss has revealed a six month scheme to support businesses, offering equivalent support as for households. The scheme will be reviewed in three months to see if [...]
Primark profit margins to be hit by high energy costs and shoppers’ budget worries September 8, 2022 Primark owner Associated British Foods said it expects the retailer’s profit margins to take a hit next year due to rising energy costs. In a trading update on Thursday morning, the retailer said it anticipated Primark’s profit margin to be lower than expected as the budget-chain has opted to limit further price hikes. ABF acknowledged [...]
Wagamama owner enjoys sales rebound but warns of ‘uncertain’ consumer environment September 8, 2022 The owner of the Wagamama restaurant group has seen sales surge in its half-year results, as an “uncertain consumer environment” looms. The Restaurant Group said total sales hit £423.4m in the 26-week period to 3 July, versus £216.8m in 2021. Diners returned to the group’s restaurants and pubs after the easing of Covid restrictions, with [...]
Gymshark to open doors of first physical store on London’s Regent St next month September 7, 2022 Gen Z sportswear retailer Gymshark is set to make its venture into physical retail this autumn, revealing the opening date of its Regent St flagship. The online brand is to open up shop at 165 Regent St on Saturday 1 October, after huge success over the last few years. Gymshark store on Regent Street will [...]
New job: Ocado Retail appoints Hannah Gibson as CEO September 7, 2022 Ocado’s online grocery business has appointed Hannah Gibson as new CEO, as the company hopes to retain consumers amid the cost of living crunch. Gibson will take up her position on 20 September, stepping into the shoes of Melanie Smith, who left in July, Ocado Retail announced on Wednesday morning. She has spent more than [...]
Heineken takes full ownership of London’s Beavertown Brewery September 7, 2022 Heineken has purchased all remaining shares of Beavertown, meaning it now has full ownership of the London brewery. The Dutch brewer snapped up a minority share in the North London craft brewer in 2018. The two firms did not reveal the purchase amount for the remaining shares on Wednesday. Within the latest deal, Beavertown founder [...]
Halfords warns cost pressures could lead to road safety risks September 7, 2022 Halfords share price boomed more than 10 per cent on Wednesday morning, following a trading update. Halfords saw like for like sales dip 1.9 per cent compared to the year before, for the 20-week period to 19 August 2022. Sales last year benefitted from the end of the Covid lockdown in the UK. The motoring [...]