Cleared Tesco executive launches legal action against supermarket following £250m accounting scandal January 25, 2019 A former Tesco executive recently cleared over the retail giant’s £250m accounting scandal is suing the supermarket following the collapse of the Serious Fraud Office's (SFO) case against him last year. Chris Bush, one of Tesco’s most senior employees who joined the supermarket chain upon leaving school, was acquitted of charges of fraud and false [...]
Fuller’s calls time on brewing business as Asahi agrees £250m deal January 25, 2019 Fuller has sold its vast beer, cider, soft drinks and distribution business to Japanese producer Asahi for £250m, as the pub operator ends its 174-year role as a brewer. Shares in the pub giant jumped more than 20 per cent on news of the surprise deal, which includes the sale of iconic brand London Pride. [...]
Christmas sales slump at Bonmarché January 25, 2019 Women’s fashion retailer Bonmarché reported a drop in sales over the crucial Christmas trading period this morning. Total sales at the value fashion chain tumbled 8.1 per cent in the 13 weeks to 29 December, as the firm came in line with its recently reduced expectations. Like-for-like sales in the Christmas quarter slumped 11.1 per [...]
AG Barr expects rise in revenue as sales fizz January 25, 2019 Irn-Bru maker AG Barr has predicted a rise in full-year revenue this morning, despite echoing the fears of many in its industry over the current political and economic uncertainty. The firm said that revenue is expected to be roughly £277m for the year to 26 January, marking a five per cent rise on the previous [...]
Struggling retailer Paperchase exploring sale or store closures January 24, 2019 The owner of stationery and greeting card chain Paperchase is exploring a possible sale as its feels out landlords about a potential company voluntary arrangement (CVA). According to Sky News, Paperchase’s adviser KPMG has been contacting potential buyers this week about a deal which could include a pre-pack administration. The company is also sounding out [...]
Here’s how retailers can enhance the customer experience in-store in 2019 January 24, 2019 The pressure on Britain’s high street is intensifying with shopkeepers preparing themselves for yet another year of declining footfall, driven by low consumer confidence and the growth of online competitors. Against this backdrop, we’re seeing a number of high street retailers revamping their customer experience in-store and trialling new creative strategies to encourage shoppers back [...]
Iceland removes its name from some products after failing to meet own palm oil deadline January 24, 2019 British supermarket Iceland removed its name from some of its own-brand products last year, after it realised it couldn't meet its campaign target of selling no products containing palm oil under its branding. The retailer said it would remove all palm oil from 100 per cent of its own products by the end of 2018, due [...]
Tesco and Carrefour to trial refillable container scheme in bid to cut waste January 24, 2019 Supermarket giants Tesco and Carrefour are set to trial a refillable container scheme in a bid to cut waste created by excess packaging and single-use containers. The French and British retailers have teamed up with a coalition of major consumer product companies to pilot a new service to provide online shoppers with refillable containers. Read [...]
British competition watchdog raises ‘serious concerns’ over Viagogo order January 24, 2019 Britain’s competition watchdog has said today it has “serious concerns” that Viagogo has not complied with a court order that forced the controversial ticket reseller to “overhaul” the way it does business. The Competition and Markets Authority (CMA) added that it “expects them to make any necessary changes without delay”, with Viagogo ordered to make immediate [...]
Real estate merger to form biggest ever UK healthcare property investor January 24, 2019 Real estate group Primary Health Properties (PHP) has agreed a £1bn merger deal with MedicX in a move that is set to create the UK’s largest ever UK healthcare property investor. In an effort to scale up its role within the healthcare asset market, FTSE 250 primary care specialist PHP has signed an all-share merger with [...]