Tesco boss Dave Lewis pledges to simplify relationship with suppliers October 6, 2015 Tesco boss Dave Lewis has pledged to simplify the way the supermarket does business with suppliers as part of his efforts to change the behaviour at the group in the wake of its accounting scandal last year. Speaking at the IGD conference in Westminster this afternoon, Lewis announced plans to speed up payments so its [...]
Ted Baker share price dips on warning over washout August October 6, 2015 Shares in Ted Baker were decidedly passé with investors this morning after a warning over softer trading in August overshadowed a 15 per cent leap in first half pre-tax profits. The fashion retailer, which has 416 stores, concessions and outlets across the world, said sales in August were hit by a number of “external factors”, including [...]
American Apparel files for bankruptcy to cut down debts October 5, 2015 US clothing retailer American Apparel has filed for bankruptcy protection as it attempts to shake-off its debt-pile and rebuild its reputation following a series of scandals relating to founder and former chief executive Dov Charney. The teen-focused chain, known for overpriced jersey basics and risque advertising, said it has struck a deal with 95 per [...]
Tesco in talks to sell 10 more supermarket development sites to Meyer Bergman October 1, 2015 Tesco is in talks to sell a large chunk of its UK land portfolio, as the supermarket looks to raise funds to bolster its battered balance sheet and pay down debt. The company is understood to be in advanced discussions to sell 10 development sites to European investment giant Meyer Bergman for about £250m. The [...]
UK hotels score at Rugby World Cup October 1, 2015 Wales wasn’t the only victor last weekend. Hotels also shared in the Rugby World Cup fever and enjoyed a surge in demand as fans flocked to host cities around the UK. Online searches for hotel rooms in London between 24 and 28 September – when England played Wales at Twickenham stadium – surged by [...]
Fnac makes £533m takeover offer for Darty as it seeks to create French electronics giants September 30, 2015 French electronics and music retailer Fnac has made a takeover bid for Darty in a deal that would value its UK-listed rival at £533m. Shares in Darty have soared as much as 17 per cent this morning after Fnac confirmed it has made an offer of 101p per share, 25 per cent above yesterday’s closing price [...]
Whitbread’s Costa coffee chain to pay baristas above National Living Wage September 30, 2015 First it was Starbucks. Now coffee chain Costa has also followed suit by announcing a pay hike for its staff ahead of the government’s national living wage. From tomorrow Costa baristas in London (of all ages) will earn a minimum of £8.20 an hour, rising to over £9, the Whitbread-owned chain said. Meanwhile staff working [...]
New Bloomberg headquarters in the City put up for sale by Legal & General September 29, 2015 Bloomberg’s new European headquarters near Mansion House in the City have been put up for sale with a price tag of around £100m. Legal & General confirmed it has put its freehold interest in Bloomberg Place on the market, after more than 60 years of ownership. News of the sale comes after the vast 3.2 acre site, [...]
Morrisons follows Lidl and pledges to pay above National Living Wage September 29, 2015 Morrisons has followed in the steps of German discounter Lidl after announcing a 20 per cent pay hike for its staff in line with the new Living Wage. The supermarket, which is striving to turn itself around after years of declining sales, said more than 90,000 staff across all age brackets would benefit from a [...]
CBI distributive trades survey: Retail sales beat expectations in September September 29, 2015 British annual retail sales grew at a faster pace than expected in the year to September, with firms expecting business to pick up pace in the run-up to Christmas, industry research shows. Of the 119 firms surveyed by the Confederation of British Industry (CBI) distributive trades survey, 55 per cent expect sales volumes to increase [...]
