Turnaround plan looks set to pay off for Morrisons March 5, 2017 The turnaround at Morrisons supermarkets headed by CEO David Potts looks set to gather speed this week as the company reports its best annual results in six years. The chain is likely to report a 54 per cent rise in pre-tax earnings to £335m on Thursday, according to predictions by banking firm Jefferies. The firm [...]
Ultimate Products’ London IPO has been priced at £105m ahead of it joining the main market next week March 1, 2017 Ultimate Products' offer price has been set at 128p, which will equate to a market capitalisation of approximately £105.2m. The offer comprises 41,084,800 shares, representing 50 per cent of the company’s issued share capital on admission. Shore Capital is acting as sponsor, global co-ordinator and bookrunner to the Company, and Cenkos is acting as joint bookrunner. [...]
Consumer goods group Ultimate Products heads for a £100m-plus IPO in the next few days March 1, 2017 Ultimate Products, the innovative consumer goods group, is set for a £100m-plus IPO in London within days. It will list on the main market under the name of UP Global Sourcing Holdings. The IPO’s pricing could take place as early as today. The placing is understood to be substantially oversubscribed with investors taking part believed [...]
High street stalwart Debenhams shakes off payment scandal February 22, 2017 Last week, Debenhams was named by the government as one of the worst companies for underpaying staff. YouGov Brand Index data shows how the news has altered perception of the brand. Over the last year, I have discussed how adverse stories about pay have damaged companies including Sports Direct and Harrods, but also how positive [...]
Waitrose has been crowned the UK’s best supermarket February 16, 2017 Aldi and Lidl might be snatching market share from their rivals – but one middle class stalwart is still at the top of the nation's affections, according to a new survey. The report, by Which?, has crowned Waitrose the UK's best supermarket, above rivals Marks & Spencer, Aldi and Lidl. Meanwhile, Asda came bottom of the [...]
End of days: Waitrose is closing six of its stores February 9, 2017 Is this the end of the middle classes as we know them? Waitrose is planning to close six stores, putting 500 jobs at risks, it has been reported. The supermarket, beloved of the chattering classes, has begun consulting with staff at six locations in Hertford, Staines, Leek, Huntingdon, Cardiff and Palmers Green (although the latter [...]
Aldi just became the UK’s fifth largest grocer February 7, 2017 Aldi has become the UK's fifth largest grocer by market share, overtaking the Co-op. According to data from Kantar Worldpanel, Aldi grew its sales by 12.4 per cent in the 12 weeks ending 29 January. Its share of the market now stands at 6.2 per cent. Read more: A Lidl competition: Aldi becomes the highest-paying supermarket in the UK [...]
When it comes to public perception it pays not to short-change staff February 1, 2017 Towards the end of December, there was a row involving luxury department store Harrods. Waiting and kitchen staff took industrial action because they alleged that the business’s owners retained up to 75 per cent of service charge, which reduced pay by up to £5,000 a year. Harrods has subsequently vowed to let staff keep 100 [...]
Five numbers that explain the merger between Tesco and Londis owner Booker January 27, 2017 This morning, Tesco announced it would be making the biggest supermarket merger in UK history and would be gobbling up wholesaler Booker Group. Here are five key numbers that explain the landmark deal. £3.7bn The deal has valued Booker at £3.7bn; each Booker shareholder will get 0.861 shares and 42.6p in cash for every Booker share. [...]
London City Airport toasts craft beer popularity with the launch of Truman’s brewery branch January 27, 2017 Truman's brewery has launched a new cafe-bar called Brick Lane Brews at London City Airport. It will offer "a quintessentially East End London menu" throughout the day, serving up everything from salt beef to muffins to sausage rolls – and beer, obviously. It's cold – it's started snowing – you need a Classic Salt Beef Beigel & Truman's [...]