Investment in UK supermarket property surges to six-year high February 5, 2020 UK supermarket property deal value surged to a six year high last year as investors targeted retail real estate with steady returns. According to the latest research, property investors pumped £1.78bn into the UK supermarket sector in 2019, an 80 per cent jump on the previous year. There were 48 transactions during the year, up [...]
Watchdog bans ‘overly sexualised’ Pretty Little Thing advert February 5, 2020 Clothing retailer Pretty Little Thing has been censured by the advertising watchdog over a campaign deemed to objectify women. In a Youtube ad seen in October last year, the brand portrayed women wearing lingerie striking “seductive poses” and holding neon bars. A complainant, who believed the ad was overly sexualised and objectified women, challenged whether [...]
New John Lewis boss makes first key hire February 4, 2020 Former Ofcom boss Sharon White has made her first key hire as she takes over as chairman of struggling department store John Lewis. Nina Bhatia has been appointed executive director of strategy and commercial development following a reshuffle of the partnership’s structure. Bhatia, who was most recently managing director at home energy management company Hive [...]
Ferguson to consult shareholders on US listing plans February 4, 2020 Plumbing company Ferguson has launched a consultation with shareholders as it mulls a US listing following the demerger of its UK division Wolseley. Ferguson is considering two listing structures, one which would see it seek an additional listing of its shares on a major US stock exchange while remaining part of the FTSE 100. The [...]
Ikea is closing its first big UK store February 4, 2020 Ikea is preparing to close its Coventry store this year, which will be the first time it has shuttered a large site in the UK since its launch in the country 33 years ago. More than 350 jobs are at risk following the decision, which Ikea said was due to the “changing behaviour of customers [...]
Ocado retains crown as Britain’s fastest-growing supermarket February 4, 2020 Ocado has retained its position as Britain’s fastest growing supermarket, with the online grocer achieving its quickest growth in the North of England. Ocado’s overall sales grew 11.2 per cent year-on-year during the quarter, with its market share rising 0.2 percentage points, according to data from Kantar. While over half of the grocer’s sales come [...]
Combined Just Eat and Takeaway.com shares start trading February 3, 2020 The combined shares of Just Eat and Takeaway.com began trading this morning, despite a competition watchdog probe into the merger. Just Eat’s shares were suspended this morning and the merged company Just Eat Takeaway.com began trading on the London Stock Exchange under the ticker Jet. However, a full integration of the two takeaway platforms is [...]
Mike Ashley’s Sports Direct bags stake in designer brand Mulberry February 3, 2020 Sports Direct owner Mike Ashley has snapped up a stake in British luxury handbag company Mulberry, as the billionaire businessman seeks to rebrand his company as a premium retailer. Sports Direct, which has recently been rebranded as Frasers Group, has taken a 12.5 per cent stake in the designer brand. The deal signals a further [...]
Retail CEO turnover spikes in challenging year for sector February 3, 2020 Retail chief executive turnover reached a seven-year high in 2019 as the sector faced one of the toughest 12 months on record. The rate of chief executive churn increased 25 per cent on the previous year as the retail industry struggled with low consumer confidence, Brexit uncertainty, changing shopping habits and rising overheads. The latest [...]
New Tesco boss’s start date delayed until October February 3, 2020 The start date of Tesco’s new boss Ken Murphy has been pushed back as he is forced to see out a non-compete agreement. The supermarket giant announced in October last year that chief executive Dave Lewis will step down this summer, and will be succeeded by Walgreens Boots Alliance veteran Murphy. However, the grocer said [...]