Sainsbury’s to double the number of click and collect grocery sites as full-year results loom May 3, 2016 Sainsbury's is doubling the number of click & collect sites in its store car parks over the next 12 months to take the total number to 200. The supermarket chain said its "drive thru" service was proving popular with customers as shopping habits change and plans to launch a further 100 sites by May 2017. “We know that time is precious [...]
Costa Coffee owner Whitbread orders a salad to go after buying a £6.8m stake in Pure May 3, 2016 Whitbread, the hospitality company behind Costa Coffee and restaurants including Beefeater Grill, is balancing out its diet after buying a 49 per cent stake in a healthy food-to-go chain for £6.8m. Pure, which was founded by entrepreneur Spencer Craig in 2009, has eight outlets serving up salads and wraps to health-conscious commuters in locations including Moorgate and Soho. Craig said [...]
Estee Lauder plans shake-up of its beauty empire as third quarter sales rise May 3, 2016 Estée Lauder has announced a shake-up of its beauty empire that will result in up to 1,200 job losses, after posting a rise in third quarter sales. The company, which owns brands including Jo Malone, M.A.C and Clinique, said the strategy, called Leading Beauty Forward, was aimed at simplifying the business and cutting costs in an attempt to boost [...]
The Co-operative Group sells former Somerfield food stores to Hilco, the turnaround specialist behind HMV May 3, 2016 The Co-operative has sold around 90 food stores it inherited from its £1.6bn takeover of Somerfield eight years ago to Hilco, the buyout company behind HMV. The mutual said the sale to The Food Retailer Group, a subsidiary of Hilco, included 36 trading stores and an additional non-core portfolio of 50 properties, including offices and shops, that are no longer [...]
Is Aim about to get a new Joules in its crown? Fashion retail unveils plans for £140m IPO May 3, 2016 Joules has announced plans to bring its colourful wellies and country-style clothes to London's junior market with a £140m listing. The fashion and lifestyle retailer said the initial public offering will take place in the second quarter of the year, with its founder Tom Joule expected to sell down his 80 per cent stake to less than 50 [...]
London mayor’s office lacks powers to maintain capital’s status as world-class city, AECOM warns May 3, 2016 The London mayor's office lacks sufficient power to keep up with the capital's rapid expansion and deliver the housing and infrastructure needed to keep its status as a world-class city, a leading engineering company has warned. In a statement ahead of Thursday's mayoral election, AECOM claims that London has “outgrown” its traditional jurisdiction, which is defined by Greater London [...]
UK house prices: Bank of mum and dad ranks among UK’s top mortgage lenders as parents spend £5bn helping children onto property ladder May 3, 2016 Parents will lend over £5bn this year helping their children get a leg up onto the UK's slippery housing ladder, placing the "bank of mum and dad" firmly in the ranks of the top 10 mortgage lenders in the country, a new report today reveals. The study – by FTSE 100 insurer Legal & General and Cebr, [...]
London house prices: Growth in prime postcodes has declined to lowest rate in more than six years May 2, 2016 Annual house prices in prime central London areas grew at their slowest pace in six and a half years in April, as the economic uncertainty and recent tax changes continued to unsettle prospective buyers. Knight Frank's latest monthly sale index released today shows that although viewings are up by a quarter over the year, the number of prospective buyers [...]
BHS was “crashed into a cliff” says top Labour MP and BIS committee chair May 2, 2016 BHS was "crashed into a cliff" by its owners, the chairman of the Business, Innovation and Skills (BIS) Committee, Iain Wright told the BBC this morning. Wright said the troubled retailer, which was placed into administration a week ago, was sold to "tried and untested people", referring to Retail Acquisitions, the consortium which bought BHS for £1 from [...]
Boris Johnson (nearly) empties mayoral inbox after approving Alpha Square and former Westferry Printworks schemes April 28, 2016 With just a week left until his term as London mayor comes to an end, Boris Johnson will leave two major planning schemes in his inbox for his successor to review after giving the go-ahead two controversial developments this week. Plans for Alpha Square, a 63-storey residential tower being proposed by Asian property firm Far East [...]
