Sainsbury’s sales slip in ‘tough’ supermarket environment July 3, 2019 Sainsbury’s sales fell in its latest quarter, the supermarket revealed today, as boss Mike Coupe warned of the consequences of a no-deal Brexit. Like-for-like sales slipped 1.6 per cent year on year for the four months to the end of June while retail sales dropped 1.2 per cent, piling pressue on Coupe after the supermarket’s [...]
CBRE makes £267m swoop for London developer Telford Homes July 3, 2019 Real estate giant CBRE is set to snap up FTSE housebuilder Telford Homes as it plans to cash in on the UK’s growing build-to-rent market. The US property giant has reached an all-cash agreement to buy Telford for roughly 350p per share in cash, valuing the deal at £267m and representing an 11.1 per cent [...]
Risk of missing housing targets if modern methods are not embraced July 3, 2019 An influential group of MPs has warned the government that it risks missing its target to build 300,000 homes a year by the mid-2020s if it does not shrug off a reliance on traditional construction methods. Fears over a current shortage of housing have been underlined in a new report from the housing, communities and [...]
Bye bye Byers: Top Sports Direct executive leaves Mike Ashley’s firm July 2, 2019 A veteran executive at Mike Ashley’s Sports Direct is leaving the high street retailer after working at the firm for nearly three decades. One of the retail tycoon’s closest confidantes at the business, Karen Byers, is stepping down as a senior director with immediate effect. Read more: Sports Direct hits back at Goals Soccer Centres [...]
Dim showing: LED maker Dialight’s share price falls on CEO exit and weak sales July 2, 2019 Shares in Dialight crashed this morning as the LED giant warned of weakening sales and revealed its boss is set to step down. The London-listed lighting firm led the market fallers as its share price plunged by roughly 30 per cent, having announced an additional £4m of costs following a botched effort to move production [...]
Bank of England: Annual consumer credit growth slows to five-year low July 1, 2019 Consumer credit growth slowed to a five-year low in May, as shoppers showed more caution over personal borrowing when compared to the same time last year. New figures released from the Bank of England (BoE) show year-on-year unsecured consumer credit growth rose by 5.6 per cent in May, slowing from 5.9 per cent in the [...]
Pret a Manger boss to retire as firm prepares for Eat merger July 1, 2019 Pret a Manger’s boss is to step down later this year, making way for the firm’s chief operating officer to lead the group as it prepares for a major tie-up with rival Eat. The sandwich chain’s boss Clive Schlee will retire in September after more than 15 years at the firm. Read more: Pret a [...]
Low growth predicted in second quarter as Brexit uncertainty and rising costs bite July 1, 2019 Two of Britain’s biggest business groups have warned of dismal growth for the second quarter of 2019 as political turmoil and rising costs take a heavy toll on the UK economy. Downbeat forecasts for the health of the country’s private sector have been laid bare by two major business trade bodies, the British Chambers of [...]
Property giants suffer £2.7bn write-down after retail values plunge July 1, 2019 Britain’s biggest landlords suffered a £2.7bn write-down in the value of their investment properties in the last 12 months, as a sharp downturn in the retail sector sent shockwaves throughout the property industry. Real estate giants including Intu, British Land and Land Securities nursed significant losses in the overall value of their assets last year [...]
Sports Direct hits back at Goals Soccer Centres after heated AGM June 30, 2019 Mike Ashley’s Sports Direct has escalated its war of words with Goals Soccer Centres just days after coming to blows with one of the troubled firm’s directors at a tense investor showdown. The retail tycoon’s sportswear firm has launched a bombastic attack on a senior figure at the five-aside football operator today, having made a [...]
