Supermarket wines from Aldi, Asda, Tesco, Waitrose, Marks & Spencer and others uncork victory at International Wine Challenge May 11, 2016 Supermarket wines won big yesterday at the 2016 International Wine Challenge (IWC), with budget grocers Aldi and Asda joining premium brands such as Waitrose and Marks & Spencer in the gold-winning big leagues. Gold medals were award to 28 wines created for supermarkets in total at the world-renowned competition, which included offerings from Aldi, Asda, [...]
Visa Europe records three billion contactless payments over the last 12 months May 10, 2016 Card company Visa has recorded three billion contactless transactions in Europe over the past year. In April alone, European consumers used their cards 360m times, clocking in at almost 140 transactions per second. Contactless now accounts for one in every five Visa card payments in Europe, up from one in 60 in 2013. In the [...]
Retailers rocked by sales shocker May 6, 2016 The high street has suffered its sharpest drop in sales since the credit crunch as retailers battle erratic weather, increasing competition from online rivals and jittery consumer confidence. Like-for-like sales fell by 6.1 per cent in April compared with the same month last year, according to BDO’s latest monthly tracker, published this morning. The accountancy [...]
What Next for the UK’s struggling high street? May 5, 2016 Retailers are having a tough old time of it. After last week’s casualties (BHS and Austin Reed) it seems likely that others could follow, and yesterday’s update from one of the high street’s more reliable traders underscored just how jittery the market has become. As a rule, Next tends to downplay its confidence about any [...]
Food travel giant SSP gobbles up £280m Abu Dhabi airport contract May 4, 2016 Travel caterer SSP has a £280m contract to run three outlets inside a food court at Abu Dhabi International airport, paving the way for further expansion in the Middle East. SSP said the three units in the airport's new Midfield Terminal Building will feature 17 different international and local brands although it didn't disclose the names. The [...]
Retailers are really struggling today – apart from the one that set them off May 4, 2016 The retail sector has been having a tough old day of it today – all apart from the one company that may be at the heart of it. Next issued a gloomy update today, with an in-line decline in quarterly sales and a warning of "weaker underlying demand for clothing and a potentially wider slow-down [...]
Time Out magazine plots flotation to value company at £200m April 30, 2016 Magazine publisher Time Out is planning a flotation on the London Stock Exchange. The listing, planned for June on the alternative investment market, would value the company at more than £200m. Oakley Capital, Time Out's controlling shareholder since 2011, has confirmed “it has commenced a process of review of the investment in Time Out”. Read more: Saudi [...]
Rivals set to win customers on back of BHS’ demise April 27, 2016 BHS has entered administration, confirming what I have previously written about in this column; its loyal customers have deserted it in recent years. Although BHS will continue to trade while a buyer is sought, the retailer has been in trouble for some time as it failed to modernise its offering. It has been losing market [...]
The House of Lords lauds diversity with a new power list of the top 100 business leaders from ethnic minority backgrounds April 27, 2016 If there's one thing the City is in dire need of, it's diversity. That's why a Westminster peers have grouped together to bring us a power list of the top 100 business leaders from ethnic minority groups. The top 100 most influential BAME (black, asian and minority ethnic) people in business were lauded in the house of [...]
Former Marks & Spencer boss Marc Bolland tipped to take up director role at British Airways owner IAG April 25, 2016 Marks & Spencer's former chief executive Marc Bolland is tipped to be named as a non-executive director of International Airlines Group (IAG), the owner of British Airways. An announcement about his appointment could be made as soon as this Friday, Sky News has reported, when IAG unveils its first-quarter results, according to headhunting industry sources. It [...]