Beer sales slip at Greene King after last year’s World Cup summer September 6, 2019 Beer sales fell in Greene’ King’s summer quarter, as they suffered in comparison to last year’s World Cup-fuelled boost in drinking, the pub chain revealed today. Read more: Greene King shares surge 50 per cent as Hong Kong’s richest man makes an offer Like-for-like sales sank 4.2 per cent among Greene King’s pub partners for [...]
Hot weather fails to heat up high street retail sales in August September 6, 2019 Bricks and mortar retailers suffered a further blow last month as soaring temperatures failed to heat up high street sales. Like-for-like in store sales dropped 0.1 per cent in August from a base of minus 2.7 per cent in the same month last year as retailers were unable to convert rising footfall into purchases. Read [...]
Sold! Sotheby’s shareholders approve $3.7bn sale of historic auction house September 5, 2019 Sotheby’s shareholders have approved the $3.7bn (£3bn) sale of the auction house to French-Israeli billionaire art collector Patrick Drahi. Read more: Going, going, gone: Sotheby’s sold for $3.7bn to telecoms mogul The sale today garnered the approval of over 90 per cent of shareholders in Sotheby’s, the New York-headquartered auctioneer which was founded in London [...]
British Land files legal challenge against Monsoon Accessorize CVA September 5, 2019 British Land has filed a legal challenge against Monsoon Accessorize’s recently agreed rescue plan, which will see the retailer slash rents across more than half its UK stores. The owner of Sheffield’s Meadowhall shopping centre is aiming to block the retailer’s company voluntary arrangement (CVA) following its approval in July, Sky News reported. Read more: [...]
Competition watchdog suspends legal action against ticket reseller Viagogo September 5, 2019 The competition watchdog has suspended court action against Viagogo, saying the ticket resale site had addressed its concerns about how key information was presented to customers. The Competition and Markets Authority (CMA) had launched legal proceedings against Viagogo for contempt of court after the firm allegedly failed to comply with an earlier court order. Read [...]
Grant Thornton set for scrutiny as Patisserie Valerie handed to liquidators September 5, 2019 Embattled auditor Grant Thornton is set to face renewed scrutiny as Patisserie Valerie’s liquidators prepare to pursue claims against third parties connected to a multi-million pound hole in the cafe chain’s finances. Administrators KPMG will pass the case on to FRP Advisory later this month. Read more: Patisserie Valerie appoints administrators for Grant Thornton probe [...]
Boden CEO steps down as retailer warns of tough year ahead September 5, 2019 Boden chief executive Jill Easterbrook has quit after three years in the role, the retailer announced today, as the fashion brand warned 2019 profit would take a hit from investment in its multi-channel offering. Easterbrook, a former executive at Tesco, will step down at the end of the year to develop a non-executive director portfolio, [...]
Asda under pressure as workers stage nationwide protests over new contract September 5, 2019 Asda is set to face renewed pressure over the implementation of a controversial new contract as disgruntled employees stage protests outside stores. GMB Union members will protest at 15 Asda stores across the UK today, including three London branches, over the new flexible working arrangement. Read more: More than 150 MPs demand Asda backs down [...]
Natasha’s law to prevent allergy deaths comes into force after Pret teenager died on plane September 5, 2019 A law in memory of tragic Pret a Manger allergy teenager Natasha Ednan-Laperouse has been laid in front of parliament today, making sure that allergens are properly listed in cafes across the country. Natasha’s Law will close a loophole which allowed food that was prepared on the premises to be sold without an allergy warning. [...]
Boohoo shares soar as online retailer boosts full-year guidance September 5, 2019 Shares in online retailer Boohoo soared to an all-time high this morning after the fast fashion firm increased sales growth guidance for the year. Boohoo’s share price was up 15.37 per cent to 280.7p after the company announced sales growth would be between 33 per cent and 38 per cent, against previous guidance of 25 [...]