Ocado bags sales jump amid decline in supermarket sector July 23, 2019 Ocado has posted a double-digit rise in sales over the last quarter as it defied an overall decline in the supermarket sector. The online retailer boosted its sales by 11.9 per cent in the 12 weeks to 14 July, stealing a larger chunk of the competitive grocery market. Read more: Sainsbury’s sales slip in ‘tough’ [...]
UK retail industry battles ‘toughest ever’ trading conditions July 22, 2019 The health of the UK retail industry is on the brink of falling to record lows as shops battle some of the “toughest trading conditions they’ve ever experienced”. The Retail Health Index, which takes into account consumer demand, gross margins and costs, fell from 77 to 76 in the second quarter, financial services firm KPMG [...]
Ted Baker shares soar as Ray Kelvin considers backing buy-out July 22, 2019 Shares in Ted Baker soared this morning following reports that the luxury retailer’s founder Ray Kelvin would back a private equity buyout of the firm, months after he resigned amid allegations of sexual harassment. The retailer’s share price was up more than 15 per cent after it was reported that Kelvin had made enquiries about [...]
Families feel ‘ripped off’ by overseas holiday costs July 22, 2019 Two-thirds of families felt “ripped off” on their last trip abroad, with the cost of making card payments the biggest annoyance for British holidaymakers. Travellers can be hit with extra charges of around 2.7 per cent for each card transaction while abroad, as well as fees at cash machines. Read more: Heathrow summer strikes threaten [...]
Revealed: 20 purchases that prove money can buy happiness July 22, 2019 They say money can’t buy happiness, but there’s no doubt retail therapy can help boost your mood. Now a survey has revealed the nation’s favourite pick-me-up purchases, showing how Brits like to spend their hard-earned cash over the summer months. Read more: Why families feel ripped off by overseas summer holidays The research, commissioned by [...]
UK households remain cautious on economic outlook, discretionary income and debt levels July 22, 2019 UK households remain concerned about their economic outlook, disposable incomes and debt levels, survey data out today shows. Deloitte’s consumer confidence index for the UK in the second three months to 30 June remained at a minus eight per cent – unchanged from the first quarter – but down four percentage points from the same [...]
Homebase closes in on Bathstore takeover July 19, 2019 Homebase is set to buy struggling retailer Bathstore after the UK’s largest bathroom specialist fell into administration three weeks ago. Administrators BDO have since been looking for a buyer to save the flagging chain, and now Homebase are close to agreeing a deal, according to The Telegraph. Read more: Homebase named UK’s worst retail website [...]
AB InBev toasts $16bn sale of Australian beer business to Japanese group Asahi July 19, 2019 The world’s largest brewer AB InBev has offloaded its Australian business to Japanese group Asahi as it looks to pay down its debt. In a deal worth $16bn (£9bn), the owner of Budweiser, Corona and Stella Artois is calling time on its Australian subsidiary, Carlton & United Breweries. Read more: New tube map shows you [...]
Upper Crust owner SSP takes hit from Boeing 737 Max ban July 19, 2019 UK-based airport restaurant operator SSP today revealed its revenue rose by nine per cent in the second quarter despite it being hit by the Boeing 737 Max groundings. The Boeing 737 Max planes, which first flew in 2016, have been out of the air since March after crashes in Indonesia and Ethiopia killed 346 people. [...]
Post Office appoints ex-Nisa boss Nick Read as chief executive July 18, 2019 The Post Office has appointed consumer business veteran Nick Read as its new group chief executive. Read will join the group in September and replace outgoing chief executive Paula Vennells, who earlier this year announced plans to step down after seven years in the job. Read more: Use your local post office or lose it [...]