British home electricals retailer AO shares slide as it gears up for Brexit November 20, 2018 UK online electronics retailer AO World has scraped back some of its losses in the first six months of this year, targeting European profitability despite market challenges. The company's share price tumbled almost 15 per cent in early trading this morning. The figures Overall revenue across the UK and Europe rose almost 10 per cent [...]
Bonmarche maintains dividend despite lower store sales shredding profits in half November 20, 2018 Retailer Bonmarche laid bare its high street struggles today after a recent profit warning, revealing that store sales fell in the first six months to the end of September despite a boost to online income. The figures Revenue came in flat in its half-year results compared to the same period last year at £97.9m. In-store like-for-like sales dropped [...]
Vision Direct promises to compensate customers who lost out in website hack November 19, 2018 An online contact lens supplier will refund customers left out of pocket when their credit card details were stolen from its site earlier this month. Vision Direct told City A.M. that over 16,000 people were at risk from a hack on its website at the beginning of November. Customers who logged in to the website, [...]
The Hut Group gearing up for boardroom reshuffle November 19, 2018 British online shopping giant The Hut Group is planning a major board reshuffle which would involve the departure of the company’s current chairman. The beauty retailer is set for a shake-up that would see founder and chief executive Matthew Moulding replace Richard Pennycook as chairman, according to Sky News. Pennycook, who has served as the [...]
Chinese online retailer JD.com’s revenue growth slows amid trade war concerns November 19, 2018 Chinese e-commerce giant JD.com today reported its slowest quarterly revenue growth since its 2014 initial public offering. The company, which is backed by Walmart, Google and China’s Tencent, reported a 25 per cent rise in revenues for the last quarter, totalling 104.8bn yuan (£11.75m). But the growth was well below previous rates, which hit 60 per [...]
Black Friday footfall to dip as retailers extend discounting into the weekend November 19, 2018 Footfall during this year’s Black Friday is expected to slide, with fewer consumers feeling the urgency to shop on Britain’s high streets as retailers plan to extend the frenzied day of discounting into the weekend. Research out yesterday from analytics firm ShopperTrak is predicting the volume of shoppers on the high street will be 6.5 per [...]
Troubled cake chain Patisserie Valerie given until January to agree loan with main lenders November 19, 2018 The owner of troubled cafe chain Patisserie Valerie has said it has won more time to strike a loan agreement with its principal lenders that will allow it to cover existing debt. Patisserie Holdings originally had 45 days from 12 October to agree a loan facility with lenders, but that time period has now been extended to [...]
Housebuilder Weston sees profits soar as it plans £28m expansion November 19, 2018 Housebuilder and office provider Weston has reported a huge increase in revenue and pre-tax profits as the developer cashes in on rising demand for new homes. The volume housebuilder, which operates in London and the south east, said its pre-tax profits increased over 50 per cent year on year to £35m. The group’s revenue was up [...]
Caffeine kick gets greener as Nespresso makes pods from sustainable aluminium November 19, 2018 Breakfast drinks will cause slightly less environmental damage after Nespresso teamed up with Rio Tinto to make its coffee pods from ethical aluminium. The two companies are working to ensure that 100 per cent of the metal in Nespresso’s popular pods are sustainably sourced by 2020. By then every pod that goes into a morning [...]
Crunch time: Edible insects hit supermarket shelves as UK goes nuts for bugs November 19, 2018 Roasted crickets hit supermarket shelves yesterday as Sainsbury’s became the first UK retailer to stock edible insects. The supermarket chain has launched a range of barbecue-flavoured crunchy roasted crickets, which are described as “crunchy in texture with a rich smoky flavour”. The crickets cost £1.50 per packet and are available in 250 Sainsbury’s stores across the [...]