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Retail

  • M&S franchises remaining open in Russia is ‘buttressing Putin’s brutality’, Tory MP says

    March 18, 2022

    Marks and Spencer has been urged to close its stores in Russia by a Conservative MP. Marks and Spencer has been urged to close its stores in Russia by a Conservative MP. The representative for Rutland and Melton, Alicia Kearns, made her comments while hosting four Ukrainian politicians on Thursday. This comes as major international [...]

  • Owner of Burger King says local operator in Russia ‘simply refuses’ to shut down all 800 fast food branches 

    March 18, 2022

    The owner of Burger King has said the operator of its 800 stores in Russia has “refused” to close them. The president of Restaurant Brands International (RBI), which owns Burger King and has operated its restaurants in Russia for a decade in a joint venture which includes Alexander Kolobov, said the company was attempting to [...]

  • Revenue sinks at JD Wetherspoon as boss says cost pressures ‘mitigated to an extent’

    March 18, 2022

    Revenue at pub chain JD Wetherspoon has taken a hit to the tune of 13.5 per cent as the firm warns of rising costs across its business. The company reported revenue of £807.4m, for the 26 weeks ended 23 January 2022, versus £933m in 2020. However, chairman Tim Martin said pressure on input costs from [...]

  • Getir valued at $11bn as rapid grocery app recruits thousands more UK staff

    March 17, 2022

    Rapid grocery delivery app Getir has been valued at $11.8bn (£8.97bn) after the close of a $768m Series E funding round. The food delivery app is nearing 40m downloads in nine countries. The app has declared itself Europe’s first grocery delivery deacorn, having now raised $2bn. Mubadala Investment Company led the funding and the round [...]

  • UK could see double-digit inflation, chair of John Lewis warns

    March 17, 2022

    Britain may see double-digit inflation, the chair of the John Lewis Partnership has warned. Dame Sharon White’s comments came after the UK registered inflation of five-and-a-half per cent, with the Bank of England predicting it could exceed seven percent, as to raised interest rates on Thursday. Speaking on BBC Radio Four’s Today Programme, she said: [...]

  • Swedish vet app launches website in UK after pandemic pet boom

    March 17, 2022

    A Swedish digital vet service has launched an e-commerce offering in the UK. After a pandemic-inspired pet boom, which has seen the likes of Pet At Home benefit, First Vet is planning to launch a website offering thousands of products. The products will be for sick and healthy pets including dogs, cats, rabbits, small animals [...]

  • Estée Lauder settles with former staff over algorithm redundancies

    March 17, 2022

    Three former Estée Lauder staff have won a settlement against the cosmetics giant after the firm used an automated interview process to sack them. 

  • Corbin & King shareholder hires lawyers in fight for restaurant chain

    March 17, 2022

    Tensions between a London restaurant goliath and its largest shareholder have once more flared up as Minor International looks to sue a US investment fund. Jeremy King, who co-founded the operation behind Mayfair’s the Wolseley restaurant, has been embroiled in a tussle with Thai hotel giant Minor International. King is hoping a £38m rescue package [...]

  • Netflix eyeing new fees to prevent password sharing

    March 17, 2022

    Netflix is exploring technology that will halt users sharing their passwords with others.  While the streaming giant’s terms and conditions do prohibit users who do not live together sharing the same account, users can currently simply share a password to an account. Now, the company said it will start testing allowing subscribers to pay a [...]

  • Shoppers spend less at Ocado after offices reopen and Covid measures ease

    March 17, 2022

    Ocado customers are spending less through the online grocery delivery service as pandemic habits return to normal. In an eight week trading update, Ocado said its average basket size came in at £124, 15 per cent lower than last year. This was reflective of changing shopper behaviours as customers return to physical supermarkets and offices.  [...]

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