Virgin Wines battles shifting consumer habits as share earnings slip March 15, 2022 Virgin Wines earnings per share and pre-tax profit have stunted in the past six months, as the online wine retailer battles shifting consumer habits. With spiralling inflation and soaring energy prices, UK consumers are increasingly holding back splurging on non-necessities such as wine. The company, a subsidiary of the Virgin Group, earned an average of [...]
Sofa chain DFS takes hit to profit after Covid hammers supply chain March 15, 2022 Profit at DFS has dipped as the sofa maker pointed to Covid-related supply chain challenges. Profit before tax stood at £21.6m, in comparison to £72.1m the prior year, a 70 per cent loss. However, profit was up 35.8 per cent compared to the furniture maker’s pre-pandemic comparator of £15.9m. The pandemic had squeezed DFS’ supply [...]
Exclusive: Debit card rolls out for shoppers to track and tackle their environmental footprint March 15, 2022 A new debit card which tracks the carbon footprint of every purchase has rolled out to consumers today, as it looks to tap into a surge in demand for sustainable financial products.
Cake Box co-founder leaves CFO role after accounting scandal March 14, 2022 Cake Box co-founder and CFO Pardip Dass stepped down yesterday after 10 years at the company following an accounting scandal.
BrewDog hired private investigators as brewer says ‘false allegations’ made about boss James Watt March 14, 2022 Brewdog CEO James Watt hired private investigators to secure information on individuals he claimed were contributing to a “criminal campaign” of smears. The Guardian reported that investigators were hired to approach people to obtain evidence about other individuals. BrewDog said Watt had been “subjected to a two-year criminal campaign of online harassment, defamation, fraud, blackmail [...]
Bounce and Flight Club owner raises $35m to expand experiential bar estate in US and UK March 14, 2022 The company behind Bounce and Flight Club has announced a growth capital raise of more than $35m to support its expanding portfolio. State of Play Hospitality said the raise was funded by both existing and new investment partners, including US-based Bregal Partners. The company, which specialises in experiential bar concepts, said the fund will be [...]
EU demands billions from UK as ‘Made in China’ row widens: Britain accused of flouting Brexit rules March 14, 2022 The European Union is demanding £2.5bn in compensation from Britain for failing to apply customs rules to Chinese imports. The Court of Justice of the European Union has ruled that the UK was “negligent” in applying EU customs and import rules between 2011 and 2017, which has led to lost revenues for the EU. The [...]
Microsoft among best firms to work for despite CEO making 410 times average salary March 14, 2022 HP and Microsoft are some of the best Fortune 500 firms to work for, with high average earnings despite eye-watering sums going to those at the top. Chief executives for some of the world’s leading companies earn up to 840 times the average employee according to a new report released this week. Ranked number one [...]
First Gap shop opens in Next’s Oxford St shop in retailer’s return to UK high street March 14, 2022 The first Gap-branded shop within a Next store has opened on Oxford St, after the two firms entered a joint venture franchise. The fashion retailers have joined forces with Next managing Gap’s e-commerce business plus Gap-branded “shop-in-shops” at Next stores. The opening marks Gap’s physical return to the UK high street after the US retailer [...]
Office for National Statistics throws men’s suits out of inflation calculation basket and adds meat-free sausages March 14, 2022 The Office for National Statistics (ONS) has added meat-free sausages, sports bras and anti-bac wipes to the basket of goods its statisticians use to calculate price hikes. In its annual shake up of the basket, the ONS added 19 items to its Consumer Prices Index and threw out 15 items. Products to be added include [...]