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 [...]
Debenhams prepares to ask lenders for extra £50m lifeline July 18, 2019 Debenhams is preparing to ask lenders for an additional £50m lifeline as it approaches the critical Christmas trading period. The department store, which was taken over by its lenders after it fell into administration three months ago, could require access to additional borrowing facilities as soon as this autumn, Sky News reported. Read more: Debenhams [...]
Asos profit warning: Three factors behind online retailer’s fall from grace July 18, 2019 Shares in fast fashion retailer Asos plummeted this morning as the online marketplace warned that profits will be lower than expected this year. The company blamed this morning’s profit warning – its second in just over six months – on operational issues at new warehouse facilities in Europe and the US. Operational issues plague retail [...]