Tesco sells Thai and Malaysian businesses for £8.2bn March 9, 2020 Tesco has sold its Thai and Malaysian businesses to CP Group for £8.2bn, the supermarket giant announced this morning. Following the deal Tesco will return £5bn to shareholders and make a £2.5bn pension contribution. The disposal of the two Asian units, which were operated under the Lotus brand, will simplify the group’s structure and allow [...]
Knifeman shot dead by police in Westminster March 9, 2020 Armed police shot a knifeman dead in Westminster last night after he was spotted “acting suspiciously”. Officers on patrol spotted a man acting suspiciously at around 11.25pm last night, who later produced two knives when he was challenged by police. Armed officers responded to the incident, which is not being treated as terrorism, and a [...]
Coronavirus and stormy weather dampen high street sales March 6, 2020 High street sales slumped for the seventh February in a row last month as coronavirus fears and stormy weather hurt footfall. In-store like-for-like sales dropped 0.9 per cent last month from a base of minus 3.7 per cent in February 2019 as shoppers abandoned the high street amid mounting fears over the outbreak of Covid-19. [...]
Axminster Carpets bought out of administration March 5, 2020 Axminster Carpets has been rescued after a group of private investors, including the previous owner, bought it out of administration. The business, which entered administration on 19 February, has been bought by ACL Carpets – a consortium of investors including the Dutfield family that previously owned the firm. The group is expected to be renamed [...]
Boots Advantage Card payments blocked after cyber attack March 5, 2020 Boots Advantage Card has suffered a cyber attack, forcing the chemist to suspend payments using loyalty points. The cyber attack has affected around 140,000 customers, which Boots said represented less than one per cent of its online users. Scammers attempted to break into Boots Advantage Card accounts using passwords stolen from other websites, which can [...]
Tenant restructurings hit shopping centre owner Capital & Regional March 5, 2020 Shopping centre owner Capital & Regional posted a drop in net rental income for last year as it was hit by retailer restructurings. Net rental income fell five per cent to £49.3m compared to £51.9m the previous year after a £3m hit from retailer company voluntary arrangements and restructuring plans. Adjusted profit fell 10.2 per [...]
John Lewis cuts bonus and puts stores at risk of closure March 5, 2020 New John Lewis Partnership boss Sharon White this morning slashed workers’ bonuses and announced store closures as the struggling retailer posted a dive in profits for 2019. The figures John Lewis cut its bonus to two per cent today, down from three per cent last year, the lowest pay out to partners in 67 years. [...]
Domino’s targets London expansion March 5, 2020 Pizza takeaway chain Domino’s this morning reported a drop in profit for 2019 as it revealed a strategy to target further growth in London. The figures UK and Ireland sales increased 4.8 per cent to £1.21bn in the 52 weeks ended 29 December. However like-for-like sales growth slipped to 3.7 per cent from 4.6 per [...]
Aviva shares rise on record profit but insurer takes £500,000 coronavirus hit March 5, 2020 Insurance giant Aviva this morning reported a jump in profit but said it had taken a £500,000 hit from coronavirus claims. Shares rose 3.42 per cent as the company announced record profit, but it also warned that the outbreak of coronavirus had exacerbated the “significant uncertainty” at the beginning of the year. So far Aviva has [...]
Coronavirus: UK retailers launch action plan to win back Chinese visitors March 5, 2020 Retailers have this morning launched a battle plan to tackle the impact of coronavirus on the sector, as a sharp drop in Chinese visitors has hurt UK high streets. The international retail sector has set up a new Association of International Retail, which has unveiled a recovery plan for the industry which will be put [...]
