Employer confidence slips amid lack of Brexit clarity February 26, 2019 Confidence among UK employers has plunged to "an all-time low", according to a new survey that brings to light the current concerns among businesses in the run-up to Britain’s departure from the EU. Employers’ confidence in the prospects for the UK economy fell by six percentage points last month to a net -20, marking the lowest [...]
Marks & Spencer and Ocado confirm talks over joint retail venture February 26, 2019 Marks & Spencer and Ocado have confirmed they are “in discussions” around a £1.8bn joint venture. Read more: Ocado to develop 20 new warehouses in first stage of US deal with Kroger The tie-up would see M&S pay Ocado between £800m and £900m for a 50 per cent stake in the food delivery service, according [...]
Fuller’s pubs chief executive Simon Emeny joins WH Smith board February 26, 2019 The chief executive of Fuller's pubs has joined the board of WH Smith to sit as a non-executive director, the high street retailer announced this morning. Simon Emeny, group chief executive of London brewery Fuller, Smith and Turner, will be joined by Greensill Capital chairman and former Citibank chief executive Maurice Thompson. Read more: Surge [...]
Harrods eyes online growth with new partnership February 26, 2019 For generations it has been known for its world famous Knightsbridge department store. But now Harrods is looking to lure in shoppers through its website too, as it becomes the latest high luxury brand taking actions to adapt to the growing consumer shift away from the high street and onto the internet. High end retail [...]
MPs ratchet up the pressure on Sir Philip Green after Karren Brady resignation February 25, 2019 Sir Philip Green’s retail empire is facing the renewed scrutiny of politicians this afternoon after Baroness Karren Brady resigned from her role as chair of Arcadia. Brady, who had vowed weeks ago to stay in her post out of "a real sense of duty", has stepped down as non-executive chairman of Taveta, the holding company [...]
Laura Ashley shares soar despite denial of takeover reports February 25, 2019 Shares in Laura Ashley soared more than 20 per cent this morning after the retailer dismissed reports that that entrepreneur Michael Flacks could be weighing up a bid for the embattled firm. Shares were up 23 per cent to 3.99p this morning, despite Laura Ashley chairman Andrew Khoo’s insistence that the textile design company has [...]
Hammerson announces £500m property disposal programme as it swings to a loss February 25, 2019 Shopping centre owner Hammerson has outlined plans to offload more sites in a bid to raise more than £500m following activist investor pressure. The figures The disposal programme was outlined in Hammerson’s full-year results for 2018, in which the firm announced a £268.1m loss. In the year to 31 December net rental income dropped 6.2 [...]
Karren Brady quits her role as chair of Sir Philip Green’s retail empire February 25, 2019 Baroness Karren Brady has resigned from Sir Philip Green’s retail investment firm just days after saying she owed it to staff to stay at the company. Brady has quit her post of non-executive chairman of Taveta Investments, the company behind Sir Philip’s Arcadia Group, which includes such brands as Topshop, the firm announced this morning. [...]
An appetite for business: Deliveroo doubles down on corporate eating February 25, 2019 Late night dinners around the boardroom table have become something of a staple in modern City life, particularly for those working in demanding sectors. Food delivery startup Deliveroo is readying itself to take full advantage of that, with plans to double staff numbers in its business teams to 200 globally by the end of this year. [...]
Primark boosts revenue with new store openings but warns on like-for-like sales drop February 25, 2019 Primark said today it expects half-year sales to grow four per cent compared to last year, driven by new store openings, but the budget fashion retailer will post a two per cent drop in like-for-like sales. In the UK sales were up two per cent, while Eurozone sales jumped five per cent with strong growth in Spain, France, Italy and Belgium. However, [...]