Center Parcs owner hires bankers to review options with £4bn sale on the horizon April 22, 2022 The owner of Center Parcs has recruited bankers to probe options for the future of the holiday village chain. Sky News has reported that Brookfield Property Partners is planning to hire Barclays to advise on its investment in Center Parcs. This could lead to an auction sale of the chain for £4bn, the organisation reported. [...]
Govt urged to launch nationwide ‘holiday fun fund’ for poorer families to battle rising cost of living April 22, 2022 The government should create a new nationwide “holiday fun fund” as part of their response to the rising cost of living, the Lib Dems said today. The party believes it could help make sure children from poorer families can still enjoy outings and activities during school breaks. The Liberal Democrats also want to ensure all [...]
‘Lots of interest’: Boots chief quashes claims £7bn sale stalling April 22, 2022 The head of UK chemist Boots has pushed back against concerns that a desired £7bn sale is facing subdued demand. Walgreens Boots Alliance, the US firm behind Boots, has been eyeing a sale of the chemist, with hopes of a £7bn price tag. However, there have been reports that potential suitors placed a lower price [...]
Budweiser owner AB InBev to exit Russian venture in $1.1bn hit April 22, 2022 Budweiser owner Anheuser-Busch InBev has said it will cut off supplies of its beer to Russia by selling its stake in a joint venture to a Turkish partner. The move will trigger a $1.1bn impairment charge in the world’s largest brewer’s first quarter results. The Belgian brewer revealed it was in “active discussions” about selling [...]
Poundland owner Pepco pledges to ‘protect prices’ as discounter names new CEO April 22, 2022 Poundland owner Pepco has vowed to “protect prices” as customers feel the pinch of rising bills. The Warsaw-listed retailer posted a 17.6 per cent rise in first-half revenue, sales were buoyed by new store openings. Customers would be protected from increases to prices by the retailer renegotiating terms with key suppliers and stock efficiency programmes, [...]
Ray-Ban maker enjoys spike in revenue ahead of a summer with fewer restrictions April 22, 2022 Eyewear group EssilorLuxottica SA, the maker of Ray-Ban, has enjoyed a spike in revenue over the past three months, as consumers gear up for summer. The French-Italian retailer snagged a cool £4.67bn in the first quarter of the year, up more than a third year-on-year, with consumers more likely to be making trips abroad this [...]
B&M boss Simon Arora to step down after 17 years leading retailer April 22, 2022 B&M has announced its chief executive Simon Arora is stepping down after more than 17 years at the helm of the variety goods retailer. Arora will retire from his role in a year as the retailer begins a recruitment drive for his replacement. Alongside his brother Bobby, Arora snapped up B&M when its estate boasted [...]
Sky high inflation: Consumer confidence crashes as Brits worry about big purchases April 22, 2022 Consumer confidence has crashed this month, nearing a historic low in GrowthforKnowledge (GfK)’s index. The data company’s Consumer Confidence Index decreased seven points to -38 in April, as Brits worried about rising inflation. All measures, which look at how Brits feel about their personal situation and general economic situation, as well as major purchases, were [...]
Zapp: Rapid delivery app doubles down on London as key ‘convenience mega city’ market April 21, 2022 Rapid delivery start-up Zapp has said it is doubling down on London in its expansion plans. The app plans to differentiate from rivals by focusing on the capital, instead of smaller cities, Zapp’s vice president of strategy, Steve O’Hear told CityA.M. With a focus on a “need it, want it now,” market, the app’s approach [...]
Retail hesitancy: Online sales drop as shoppers feel pinch of rising inflation April 21, 2022 Online shoppers are spending less as the cost of living crunch starts to bite across the world, and consumers have turned to BNPL services to continue purchasing. Global digital sales have dropped three per cent year-on-year, the first recorded drop in nine years of tracking by Salesforce. The firm’s shopping index shows a drop in [...]