WH Smith: Profit jumps as expansion into travel shops pays off November 14, 2024 WH Smith’s push into travel has paid off with the bulk of its growth in the last year due to higher profit at airports, train stations and motorway services. WH Smith’s revenue rose seven per cent to £1.918bn in the year ended 31 August, 2024, driven by growth in travel shops plus the company’s expansion [...]
Pressure on incomes helps B&M grow as value retailer targets 1,200 stores November 14, 2024 Value retailer B&M Bargains has posted a tick-up in revenue as demand for bargain goods has remained high amid pressure on incomes and a higher tax burden. The Liverpool-based group, which included Heron Foods, said group revenue in the half year to 28 September increased by 3.7 per cent to £2.6bn. While this is lower than growth last [...]
Boohoo urges shareholders to reject Mike Ashley’s demands November 14, 2024 Boohoo has urged its shareholders to reject Mike Ashley’s demand to be placed in charge of the struggling fast fashion group, saying that that Ashley is “not suitable” and subject to conflicts of interest due to his role at Frasers. Boohoo and Frasers have been engaged in a public disagreement over how to take the [...]
Homebase sold in rescue deal to CDS but 2,000 jobs still at risk November 13, 2024 Homebase has been sold in a rescue deal to retailer CDS in a move securing up to 1,600 jobs and 70 stores, administrator Teneo has said, but around 2,000 workers and 49 shops still remain at risk.
Retailers warn of ‘inevitable’ job losses and price rises after budget tax hikes November 13, 2024 Retail bosses warned that they will be forced to hike prices and cut jobs due to the government’s tax hikes, as the sector braces for a substantial increase in employment costs. In a draft letter to the Chancellor, coordinated by the British Retail Consortium (BRC), retail bosses warned that job losses were “inevitable” and higher [...]
What Homebase staff and shoppers need to know as ‘Del Boy billionaire’ behind The Range nears rescue deal November 13, 2024 Staff at DIY chain Homebase and its customers have been issued advice as the so called ‘Del Boy billionaire’ behind The Range edged closer to a rescue deal. It emerged this morning that Chris Dawson is in talks to snap up around 70 Homebase stores as part of a pre-pack administration. Speaking to The Telegraph, [...]
Knoops: Boss reveals plans to become £4bn global giant November 13, 2024 The boss of Knoops has outlined his plans to the grow drinking chocolate chain into a $5bn (£3.9bn) giant with at least 3,000 stores across the world. William Gordon-Harris, who is both the chairman and chief executive of the London-headquartered business, said his revenue target is “readily achievable” when each of its hoped-for stores hit [...]
Struggles continue at Asda as new owner looks to turn around supermarket giant November 12, 2024 The continuing struggles at supermarket giant Asda have been revealed with both Tesco and Sainsbury’s hoovering up its market share in the UK, according to new figures. Sales at the Leeds-based grocer totalled £4.242bn in the 12 weeks to 3 November, 2024, down from the £4.490bn it reported for the same period last year, the [...]
Harrods faces major Christmas strike as staff demand inflation-busting festive bonus November 11, 2024 London’s iconic department store Harrods is facing the prospect of major strike action by its staff over the critical Christmas period. Hundreds of staff, who are members of the United Voices of the World (UVW) union, will vote on strike action in December over what they have described as “poor working conditions” and their festive [...]
Burberry braced for Moncler takeover as staff given heads up November 11, 2024 Luxury fashion house Burberry is braced to be taken over by Italian company Moncler amid staff at one of its flagship London stores being given a heads up on the deal, according to reports. Rumours began to circulate last week that the listed brand was set for a takeover by the skiwear maker, but both [...]