Lidl plans 500 new jobs in Scotland July 8, 2019 Supermarket chain Lidl is planning to hire 500 new people in Scotland across 12 new stores, it announced this morning. The low-cost grocer will add to its 98 stores across the country. It is already building new sites at Dundee, Cowdenbeath, Larkhall, Dumbarton and East Kilbride. Read more: Lidl unveils £500m London expansion plan for [...]
DEBATE: Boots is shutting 200 stores in the next 18 months – will this be enough to ensure its survival? July 8, 2019 Boots is shutting 200 stores in the next 18 months – will this be enough to ensure its survival? Rebecca Crook, chief growth officer at digital product agency Somo, says YES. Some 800m people a year walk through the doors of Boots, yet we know that being a heritage brand is not enough for today’s [...]
Vogue publisher Conde Nast dumps stake in retail platform Farfetch July 7, 2019 Conde Nast, the publisher of Vogue magazine, has dumped its £234m stake in luxury retail platform Farfetch. The company has concerns over how the marketplace is managed under founder and chief executive Jose Neves, according to the Sunday Times. Read more: Conde Nast launches new online magazine Vogue Business The newspaper reported that Conde Nast [...]
Sir Philip Green wins legal battle against US landlords July 7, 2019 Retail tycoon Sir Philip Green has won a legal battle with a group of US landlords after a court dismissed their claim following the collapse into bankruptcy of Topshop USA. Five US landlords including Vornado were attempting to recoup more than £100m, saying that Green’s restructuring of retail empire Arcadia had compromised their rights as [...]
Mr Kipling owner Premier Foods facing shareholder revolt over executive pay July 7, 2019 Mr Kipling owner Premier Foods could face a shareholder revolt at its upcoming meeting over pay handed to its former chief executive. Shareholder advisory firm ISS is urging investors to oppose the company’s remuneration report at its annual general meeting (AGM) next week. Read more: Mr Kipling owner boosted by Ambrosia and Loyd Grossman In [...]
Asos prepares job cuts as sales slump July 7, 2019 Around 100 jobs are at risk at Asos’s London headquarters as the online retailer battles with slumping sales. The fast-fashion brand is consulting on a round of redundancies, which will mainly affect the marketing department, the Sunday Times reported. Read more: Eurozone retail sales see suprise fall in May Asos issued a warning in December, [...]
Ocado to create 260 new jobs in Old Street tech hub July 5, 2019 Online supermarket Ocado will bring 300 jobs to London as it bolsters the digital talent behind its technology platform for supermarkets. The Ocado smart platform will be sold to companies across the world to help them move online, the firm said. Read more: Ocado pumps £17m into vertical farming joint venture The London office, in [...]
CMA puts brakes on Amazon’s Deliveroo investment July 5, 2019 The UK’s competitions watchdog will examine Amazon’s investment in Deliveroo, it said this morning, putting the brakes on the multi-million pound deal. The internet retail giant took a stake in Deliveroo in May, leading a $575m (£450m) funding round. It did not reveal the exact size of the stake. Read more: Amazon leads £450m Deliveroo [...]
High street sales suffer wash out June July 5, 2019 High street retailers suffered a wash out month for sales in June in a further blow for the struggling sector. Brexit uncertainty continued to have a “crippling” effect on retailers three years on from the referendum, accountancy firm BDO said, as it revealed that like-for-like in store sales fell by 0.8 per cent last month. [...]
Shareholders vote to back Coupe in Sainsbury’s showdown July 4, 2019 Under-fire Sainsbury’s boss Mike Coupe was lambasted by shareholders at a tense investor showdown earlier today, as the supermarket chain faced a set of tough questions following a torrid 12 months. Disgruntled shareholders slammed Coupe and the board at the firm’s annual general meeting (AGM) over its falling share price, which has plunged by almost [...]