Finger lickin’ good: Quorn teams up with KFC for European expansion May 9, 2022 Quorn has teamed up with KFC to expand into European markets as the demand for meat-free alternatives boom across the world.
Morrisons ups offer to bail out McColls in bid to claw chain back from Asda owning rivals May 8, 2022 Morrisons has put forward a last-minute offer to bail out McColls in a bid to claw it out the hands of its Asda owning rivals. Bradford headquartered supermarket chain Morrisons has improved its offer to buy McColls by vowing to pay its lenders immediately in full, Sky News first reported today. The improved offer comes [...]
Retail reality check: High Streets have too many shops which cannot all be saved, says retail guru Sir John Timpson May 7, 2022 Retail giant Sir John Timpson said there are too many shops in most towns and there needs to be more variety on the high street. Sir John, the chairman and owner of Timpson, a UK shoe repair chain with over 2,000 outlets, called for more choice in town centres. “We’ve got to look to the [...]
Amazon shareholders told to rebel on boss’s pay packet May 6, 2022 One of the world’s top shareholder groups has told Amazon investors to vote against a proposed pay hike for boss Andrew Jassy and the re-election of board director Judith McGrath at the firm’s annual general meeting this month.
InterContinental Hotels makes steady progress to 2019 levels as travel booms May 6, 2022 InterContinental Hotels (IHG) said that pent-up demand had driven people back on holiday, with revenue up 61 per cent and catching up with pre-pandemic rates. For Europe, the Middle East and Africa, revenue per available room (RevPAR) hit 122 per cent compared 2021, whilst the Americas were up 58 per cent. With America leading the [...]
McColl’s appeals for rescue deal: Administration ‘increasingly likely’ unless solution can be found May 5, 2022 Convenience store giant McColl’s has said it is “increasingly likely” it will be forced to call in administrators unless an immediate rescue deal can be cinched. Responding to press speculation, the London-listed firm said that “unless an alternative solution can be agreed in the short term, it is increasingly likely that the group would be [...]
New Sports Direct boss asserts Mike Ashley is ‘not pulling the strings’ amid of price increase warning May 5, 2022 Sports Direct’s new chief has asserted that the retailer’s former boss and his future father-in-law is “not pulling the strings.” In his first interview since stepping into Mike Ashley’s shoes as chief executive of Frasers Group, Michael Murray warned prices would likely go up. The high street titan was facing headwinds “going through the roof,” [...]
Thousands of Asda warehouse workers back strike action over pay dispute May 5, 2022 Asda workers have voted in favour of strike action in a consultative ballot, with the GMB union saying staff were being “asked to swallow a real terms pay cut.” In a ballot of 8,000 GMB members, covering driver, warehouse and clerical roles, some 95 per cent indicated they were in support of industrial action. Staff have [...]
Seraphine: Maternity brand adored by Kate Middleton sees shares plunge as hefty headwinds loom May 5, 2022 A maternity brand whose clothes have been flaunted by Kate Middleton has seen its shares plunge almost 40 per cent after a gloomy forecast. Shares in Seraphine plummeted some 38 per cent on Thursday as the digital-led fashion brand lowered its expectations for the coming year amid war in Ukraine and other macroeconomic headwinds. The [...]
Consumers buying more beer as Budweiser maker AB InBev reiterates growth outlook May 5, 2022 Budweiser maker Anheuser-Busch InBev (AB InBev) said drinkers are swallowing higher prices and bought more beer in the first quarter. After posting higher than expected earnings, the Belgian brewer reiterated an EBITDA growth outlook of between four and eight per cent for the full year. Consumers had bought 2.8 more drinks by volume in the [...]