Barratt Developments reassures investors over Brexit October 16, 2019 Britain’s biggest housebuilder Barratt Developments shrugged off concerns about political and economic uncertainty this morning as it reassured investors it could deal with the potential effects of Brexit. The FTSE 100 developer said it has a strong balance sheet and cash position to provide it with the resilience and flexibility to react to “potential changes [...]
Lidl invests £15bn in British suppliers October 16, 2019 Lidl has announced a £15bn investment in its UK suppliers as it pledged to sell more British meat and fresh food. The German discount supermarket announced the five-year investment today as it marked 25 years operating in the UK. Read more: Lidl’s suppliers warned of EU tariff import costs As part of the announcement, the [...]
Asos doubles down on Black Friday after profit dives 68 per cent October 16, 2019 Asos has vowed to boost its Black Friday discounting this year after a “disappointing” attempt in 2018 weakened the fashion retailer’s bid to attract new customers. The online marketplace offered a 20 per cent discount to consumers on the annual shopping event last year, however today the firm admitted its offer had been “uncompetitive” compared [...]
Jobs at risk as Jessops boss mulls rescue plan October 16, 2019 The owner of struggling camera retailer Jessops, Dragons Den star Peter Jones, is preparing to appoint administrators in a bid to rescue the firm, in a move that could lead to store closures and rent cuts. JR Prop Limited, the manager of the retailer’s leasehold property estate, has filed a notice of intention to appoint [...]
Watchdog launches investigation into Amazon’s Deliveroo investment October 16, 2019 The competition watchdog has launched a probe into Amazon’s investment in food delivery app Deliveroo. The Competition and Markets Authority (CMA) today said it would investigate whether Amazon’s investment would “result in a substantial lessening of competition”. The e-commerce giant led a $575m funding round in Deliveroo in May. Read more: CMA puts brakes on [...]
Loungers revenue soars following restaurant expansion October 16, 2019 Loungers, the owner of the Lounge and Cosy Club restaurant brands, said revenue soared over the summer as the company opened 10 new venues. Revenue in the 24 weeks to 6 October was £79.8m, an increase of 22 per cent on the previous year, as the group opened eight Lounges and two new Cosy Clubs. [...]
National Express wins €1bn Casablanca bus contract October 16, 2019 National Express has secured a €1bn (£869m) contract to run a bus service in Casablanca, nearly doubling its business in Morocco. The bus operator’s Spanish and Moroccan division Alsa has been awarded the 15-year contract, which will start next month with the deployment of 400 buses, increasing to 700 in 2020. Read more: National Express [...]
Click and collect services could boost in-store sales October 16, 2019 Investment in click and collect services could boost bricks and mortar sales as customers make last minute purchases when they pick-up items in store. More than eight in 10 customers said they buy extra items in store when using click and collect, according to the latest research, and more than three quarters of retailers said [...]
Eco-friendly product sales surge on climate change awareness October 16, 2019 Environmentally aware consumers moved away from one-use plastics this year as climate change activism hit the headlines, sparking a surge in sales of eco-friendly items. Sales of reusable straws increased 1,573 per cent at John Lewis due to heightened awareness of the environmental impact of single-use plastics. Read more: Climate activists target bankers during second [...]
Bellway shares slump after warning on growth October 15, 2019 Shares in house builder Bellway slumped more than five per cent this morning as it warned of a slowdown in house price growth and climbing building costs. Profit increased at the FTSE 250 firm but Bellway said it expected to deliver more moderate growth in the coming year. Read more: Bellway posts strong spring sales [...]
