On the rocks: Brewery openings stall as multinationals move in April 22, 2019 A boom in new brewery sites has slowed down dramatically in the last 12 months as multinational firms muscle in on the growing demand for craft beer. Read more: Carlsberg promotes negative tweets about its own beer Growing competition from large businesses has hindered smaller brewers from setting up new outlets, causing the growth in openings [...]
Three children of Asos tycoon killed in Sri Lanka massacre April 22, 2019 The billionaire owner of online fashion giant Asos has lost three of his four children in the Sri Lanka bombing attacks. A spokesperson for Anders Holch Povlsen, Denmark’s richest man, confirmed this morning that three of the retail tycoon’s children were killed in yesterday’s Easter massacre. "I can confirm that three children have been killed. We [...]
Reiss gets royal boost as luxury retailer defies high street gloom to post sales rise April 21, 2019 Upmarket fashion retailer Reiss has bucked the downward trend on the high street, posting double-digit sales growth in its full-year results. Read more: Retail sales jump higher than expected in March The figures Like-for-like sales rose 13.2 per cent in the year to the beginning of February. Total sales were up 8.3 per cent to [...]
Debenhams chief executive Sergio Bucher steps down after lenders take control April 19, 2019 Debenhams chief executive Sergio Bucher has stepped down, nine days after the embattled department store's lenders took control. The group’s non-executive chairman Terry Duddy has been appointed interim executive chairman until a permanent replacement is found, Reuters reported. Read more: Mike Ashley among Debenhams shareholders wiped out Duddy will oversee a major store closure programme, which is expected [...]
Amazon to close its online store in China after failing to gain a foothold April 18, 2019 Amazon is set to close its online in store in China after failing to gain a real foothold in the country where JD.com and Alibaba reign supreme. The e-commerce giant will shut its operations in China down from 18 July, it announced today. Read more: Unilever shares rise on first quarter sales growth Rivals JD.com [...]
Intu cuts debt as it sells 50 per cent stake in Derby shopping centre to Kuwait firm April 18, 2019 UK property owner Intu has sold a 50 per cent stake in its Derby shopping centre to Cale Street Investments, a Kuwait-backed real estate investment firm. The stake was acquired for £186.3m as the two firms enter a joint venture at the East Midlands shopping centre, which is visited by 22m people each year. Read [...]
Rentokil set to continue acquisition spree while organic growth continues April 18, 2019 Pest control expert Rentokil Initial said this morning it is planning to continue an acquisition-heavy strategy and is likely to spend between £200m and £250m on takeovers this year. The firm showed 4.9 per cent growth from takeovers in the first three months of the year, while organic revenue grew at four per cent. Read [...]
Laybuy is the payment platform from New Zealand shaking up the way we budget and shop April 18, 2019 Here in the UK, there are really only two ways for consumers to pay for a purchase. Whether buying in a store or online, people will either pay upfront, using cash or a debit card, or they’ll use a credit card, which they can settle at a later date. There are drawbacks to both methods. [...]
Unilever shares rise as sales grow in first quarter of 2019 April 18, 2019 Unilever’s turnover slumped in the first quarter of 2019 compared to the year before, it revealed today. Read more: Unilever warns of 'challenging' 2019 after sales miss Turnover fell 1.6 per cent to €12.4bn between January and March compared to the same period in 2018. The maker of Marmite and Dove soap blamed the disposal [...]
Mike Ashley among Debenhams shareholders wiped out April 18, 2019 | City Talk By Graeme Evans from interactive investor. One of the most intriguing City soap operas is over for investors as lenders seize control of Debenhams. The fight for survival at Debenhams (LSE:DEB) stores goes on, but for investors the suspension of shares signalled the final act in a grim 13 years of stock market trading. The [...]