Marks & Spencer unveils plans to replace retail space with offices at Marble Arch store March 9, 2021 Marks & Spencer (M&S) has unveiled plans to redevelop its Marble Arch store, with some retail space set to be replaced by offices. Under proposals announced this afternoon, M&S said the lower levels of the West End store would remain as retail space offering its food and clothing and home ranges. However, the upper floors [...]
Kingfisher shares jump on plans to launch B&Q stores in Saudi Arabia March 9, 2021 Shares in Kingfisher, the owner of B&Q, jumped this morning after it announced plans to expand the DIY chain into the Middle East. Kingfisher said this morning that it has signed a franchise agreement with the Al-Futtaim Group, with the first Middle East stores to launch in Saudi Arabia. It marks a progression in the [...]
ITV warns on ‘challenging’ ad market as pandemic hits profit March 9, 2021 ITV today warned that the advertising market remained “challenging” as it reported sharp falls in revenue and profit due to the impact of the pandemic. The London-listed firm, which last night aired Oprah Winfrey’s eagerly-awaited interview with Prince Harry and Meghan Markle, posted a 16 per cent drop in total revenue to £2.8bn in 2020. [...]
Minister rules out UK Beis Department rebrand to cut out industrial strategy March 8, 2021 A government minister has said that industrial strategy will remain under the remit of Kwasi Kwarteng’s Department for Business Energy and Industrial Strategy (Beis), despite speculation the portfolio will be dropped by the Whitehall department. It was widely reported last week that Kwarteng, the business secretary, had axed the government’s Industrial Strategy Council and that [...]
Marks & Spencer expands online presence to more than 100 markets with launch of 46 new websites March 8, 2021 Marks & Spencer (M&S) has launched 46 new flagship websites across the world, expanding its online reach to more than 100 countries. The launch, announced this morning, is part of M&S’s plan to “turbocharge” its online business, and almost doubles the number of international markets where it has a pureplay online presence. In it’s most [...]
BT boss Philip Jansen ‘gave ultimatum’ over chairman’s departure March 5, 2021 BT chief executive Philip Jansen is said to have given the board an ultimatum over his own future at the company that led to the departure of the chairman this week. Jansen told fellow directors that he was prepared to resign unless the telecoms behemoth replaced Jan du Plessis as chairman, Sky News report. Du [...]
Shakespeare: M&S’ Veganuary campaign pays dividends February 24, 2021 Supermarkets and food chains went all out for this year’s Veganuary challenge, which encourages participants to ditch meat and dairy for 31 days. Many launched new products, meal plans and websites with information on plant-based diets. More Britons are trying a vegan diet in January, with non-profit organisation Veganuary seeing a record 500,000 sign-ups to [...]
High street redundancies: Which retailers have cut jobs in the pandemic so far? February 13, 2021 Thousands of high street jobs have evaporated during the coronavirus pandemic, as retail chains have fallen under the pressure of lockdown restrictions on trading. The UK high street, which was already struggling before the pandemic, is set to look very different when shoppers return after lockdown following high profile collapses that have cost many retail [...]
Superdry poaches new finance chief from Marks & Spencer’s clothing division February 11, 2021 Fashion retailer Superdry has poached a senior Marks & Spencer director to be its new chief financial officer. Shaun Wills, who has served as the finance director of M&S’s beleaguered clothing and home division since 2018, will join Superdry at the end of April. Wills, who has worked in the retail sector for 30 years, [...]
Begbies Traynor buys chartered surveyors as acquisition spree continues February 8, 2021 Professional services firm Begbies Traynor has bought London-based chartered surveyors Hargreaves Newberry Gyngell (HNG), in a deal worth £1m. HNG employs 13 staff, who will all integrate with Eddisons, Begbies Traynor’s property advisory and transactional services division. The acquisition is for an initial cash consideration of £0.4m on a cash free, debt free basis. Contingent [...]