Payments company Worldline to buy rival Ingenico in €7.8bn deal February 3, 2020 Worldline has agreed to buy French rival Ingenico, creating a new global payments player in a rapidly-consolidating industry in a €7.8bn (£6.6bn) deal. The two companies said the deal would create a new European leader in the sector and the world’s fourth largest payment services provider, which would provide services to nearly one million merchants [...]
Imperial Brands picks Stefan Bomhard as new chief executive February 3, 2020 UK tobacco firm Imperial Brands has named Stefan Bomhard, the boss of car dealership Inchcape, as its new chief executive. Bomhard will replace Alison Cooper, whose departure was announced in October and who today stepped down with immediate effect. The new chief executive’s main task will be to boost profits following weak full-year results amid [...]
Boxpark’s profits jump as pop-up venue targets UK expansion February 3, 2020 Boxpark reported a jump in profit last year as the pop-up shipping container venue sets its sights on expansion outside of London. The food and retail operator – which launched in Shoreditch in 2011 – said net profit was up 22 per cent to £1.6m and turnover soared 58 per cent to £12.5m in the [...]
Laura Ashley chief executive steps down after eight years January 31, 2020 Retailer Laura Ashley said today its chief executive Kwan Cheong Ng is stepping down after eight years in the role. Chief operating officer Katharine Poulter will take the helm at the company from 1 May. Poulter joined Laura Ashley this month as chief operating officer. She was previously managing director at budget household chain Wilko [...]
French Connection takes itself off the market January 31, 2020 UK retailer French Connection has announced that it is no longer for sale, over a year after it started to look for buyers. The fashion chain said it “will now focus on completing its turnaround and build on the progress made in recent years” and also warned of a yearly loss in a market update [...]
Non-alcoholic beers protect Fuller’s from Dry January slump January 30, 2020 Pub chain Fuller, Smith and Turner said an increased range of non-alcoholic drinks protected it from the usual January slump in sales, despite an uptick in the number of people going tee-total for the month. Fuller’s today announced that like-for-like sales in managed pubs and hotels were up 4.3 per cent in the six weeks [...]
Mike Ashley’s Sports Direct resolves chunk of €674m Belgian tax bill January 30, 2020 Mike Ashley’s Sports Direct has resolved a large chunk of a €674m (£570.2m) tax dispute with the Belgian authorities. The retailer – which recently rebranded as Frasers Group – said €491m of the disputed VAT had been accounted for and authorities in Belgium had withdrawn the claim. Ashley’s company said it would “continue to fully engage [...]
H&M appoints new CEO in boardroom reshuffle January 30, 2020 H&M has announced the appointment of a new chief executive following a boardroom reshuffle sparked by the exit of chairman Stefan Persson. Shares jumped more than nine per cent after the Swedish retailer said it has appointed Helena Helmersson as its new chief executive as the company’s current boss steps into the role of chairman. [...]
Retail property market misses out on ‘Boris bounce’ January 30, 2020 London’s retail property market has continued to struggle, despite a bounce in the wider commercial real estate sector driven by the General Election result. Occupier demand in the retail sector fell in the fourth quarter of last year, according to research published today that found 70 per cent of chartered surveyors in the capital had [...]
Fashion brand Ted Baker bolsters board after torrid year January 29, 2020 Embattled fashion brand Ted Baker has appointed a new chief customer officer as it attempts to bolster its management team following a torrid year for the retailer. Jennifer Roebuck, who was most recently chief marketing officer at online beauty platform Feel Unique, has taken on the newly created role at Ted Baker. Her brief will [...]