London high streets beat UK vacancy rates despite pressure from rising rents February 19, 2019 Signs of health within the London economy emerged today, with a new study showing that the capital was among the British cities with the fewest empty stores on its high street. Despite pressure from rising rents and higher business rates, many retailers on London’s high streets have bucked the wider trend of closures across Britain’s [...]
Meet the startups tapped by John Lewis & Partners in its experiential retail accelerator February 18, 2019 John Lewis & Partners has lined up six startups for its Jlab innovation programme, after more than 160 businesses applied to its experiential technology accelerator. A panel of judges heard pitches from 11 startups earlier this month, offering up new ways to navigate stores from a mobile phone or interact with digital screens without needing [...]
McColl’s profits plummet after supply chain disruption but investors welcome recovery signs February 18, 2019 Profits halved at McColl’s in 2018 as like-for-like sales also slipped, it said today, blaming supply chain disruption as a key partner went under, even as overall revenue grew. But shares grew 13 per cent to 57.2p as investors welcomed the retailer cutting debt as like-for-like sales improved. The figures Profit before tax plunged to [...]
Footasylum shares rocket as JD Sports snaps up stake in retailer February 18, 2019 Footasylum's share price surged 81 per cent this morning after JD Sports bought up an 8.3 per cent stake in the embattled retailer. Footasylum's share price soared to 52.5p, up from a 29p close on Friday as it recovered from lows last month when the firm warned over challenges to its full-year earnings. While JD Sports said [...]
Reeling in the sales: Angling Direct posts surging revenue on back of international growth February 18, 2019 The UK’s largest fishing equipment retailer said this morning that it was forecasting a spike in full-year revenue, as the group ramped up its online operations and enjoyed a bump in sales from anglers in Germany, Russia and France. Angling Direct is expecting to post revenues of £42m for the 12 months to the end [...]
DEBATE: Should the government be intervening to help struggling high streets? February 18, 2019 Should the government be intervening to help struggling high streets? Rupert Pick, co-founder of Hot Pickle, says YES. There’s more to the high street than just shopping. It’s about belonging, human interaction, community. And in a muddled, pre-Brexit, polarised, insular environment, we need vibrant public places more than ever for people to congregate. Yet, in the [...]
Children’s ‘killer car seats’ found for sale online even though they’re illegal February 16, 2019 Children's car seats that were made illegal in the UK in 2014 have been found for sale online according to consumer group, Which. The illegal car seats offer "almost no protection" and were found to fail to protect children in car crashes as slow as 30mph after a crash test carried out by Surrey Trading Standards [...]
Plus500 shares plummet for second successive day after revelations of accounting error February 15, 2019 Plus500's share price suffered a second day of decline after it admitted a $103m accounting error which may have misled investors. Shares fell to a 13-month low on reports that investors may have been misled by the firm's 2017 annual accounts, which stated it suffered no losses from client trading. Plus500 today admitted that was a "drafting error" and [...]
LK Bennett founder weighs up future options February 15, 2019 Upmarket women’s footwear retailer LK Bennett has reportedly hired advisers to conduct a strategic review of the business, in a move that could potentially lead to the firm being sold. Founder Linda Bennett, who bought back the business in 2017, has drafted in consultancy firm AlixPartners to weigh up the firm’s future options, according to [...]
Pepsico issues full-year profit warning as it ramps up spending February 15, 2019 Pepsico has forecast a drop in full-year profit after spending heavily on marketing and the development of new products as it vies to steal market share from rival Coca-Cola. Read more: Coca-Cola bottler core profits fizz The cola company has increased advertising for its products, which include Pepsi, Diet Pepsi and Mountain Dew, and has been pushing [...]