Unilever boss to step down from company by end of next year September 26, 2022 Unilever's chief executive Alan Jope has announced his intention to retire from the consumer goods giant at the end of 2023.
Allbright co-founders hand over the reins at all-female members club September 26, 2022 After five years leading all-female private members club Allbright, co-founders Debbie Wosskow and Anna Jones have decided to hand over the reins. City entrepreneur Wosskow and Jones, the former UK boss of Hearst Magazines, will move to non-executive director roles on the club’s board. Allbright, which has a networking club in London’s Mayfair, said that [...]
Luxury retailers to push for tax cut acceleration ahead of coronation September 25, 2022 Luxury retailers in the West End are eager to elevate the shopping destination among its global rivals by appealing for tax changes to be accelerated. After the Chancellor suggested VAT-free shopping could boost the retail heartland from 2024 last week, the Association of International Retail said could be introduced in the next six months. The [...]
River Island looks to break America with ‘long term’ plan September 25, 2022 River Island is readying to make its first physical footprint across the pond, after online sales have surged in the US. US sales are now several times bigger than pre-pandemic levels, according to the fashion firm’s chief executive Will Kernan. After the brand has seen surging popularity in locations such as California, New York, Texas [...]
PZ Cussons: ‘No rush to go shopping’ for further acquisitions until ‘right brands’ available September 22, 2022 PZ Cussons has said it is “not in any rush” to pick up further brands as the Carex maker saw quarterly sales rise. After snapping up the baby goods brand Childs Farm, PZ Cussons was in “no rush” to add more firms to its portfolio, the consumer goods giant’s CEO Jonathan Myers told CityA.M. on [...]
JD Sports’ chair: Governance changes won’t ‘kill entrepreneurial spirit’ of retailer September 22, 2022 JD Sports’ new chair Andrew Higginson has said corporate governance changes will bring the retailer up to pace without being too “heavy handed.” The trainer seller recently created distinct roles of chair and CEO, after the departure of former boss Peter Cowgill earlier this year. After decades at the helm of the London-listed firm, Cowgill [...]
Housebuilder shares rally after rumours of stamp duty cut September 21, 2022 Housebuilders shares rallied on Wednesday after reports Prime Minister Liz Truss is set to slash stamp duty in her mini-budget on Friday. Truss is expected to announce a cut to stamp duty as a rabbit in the mini-budget, a report in The Times newspaper suggested. The report, which suggested Truss intends the policy to fuel [...]
Sainsbury’s in talks to sell 18 supermarket stores to LXi REIT for £500m September 21, 2022 Supermarket Sainsbury’s is in discussions to sell more than dozen stores to real investment trust LXi REIT for around £500m. The businesses confirmed talks about a sale and leaseback deal on Wednesday, after a report by Sky News earlier this week. LXi REIT hopes to fund the deal through a combination of new equity and [...]
Businesses breathe sigh of relief after energy bill relief details but call for more tax support September 21, 2022 Businesses have said a freshly announced energy bill relief scheme will prevent thousands of firms going bust, but further support may be needed down the line. The scheme will offer firms a discount on wholesale gas and electricity prices and apply to energy usage from 1 October 2022 to 31 March 2023. Businesses including pubs [...]
City Pub Group shares swell as firm ready to ‘take advantage of opportunities’ from economic turmoil September 21, 2022 City Pub Group shares bounced up more than 10 per cent on Wednesday morning, after the pub company posted elevated sales. In interim results, the company said sales soared to £26.1m, after pubgoers returned after the easing of Covid lockdown rules. For the first half of 2021, the company had cashed in revenue of £8.9m, [...]
