Amazon European retail arm paid no taxes on €51bn of sales in 2021 April 20, 2022 Amazon's European retail business reported losses of €1.16bn (£963m) in 2021 allowing the company to pay no income tax.
Missguided: CEO steps down as fashion firm hires Teneo advisors April 20, 2022 Online fashion retailer Missguided has said its founder will step down as CEO as it mulls options for its future. Nitin Passi has chosen to step aside as head of the company as the fashion firm has recruited advisors from Teneo to probe “strategic options” for its future. According to RetailWeek, Missguided is searching for [...]
Toasting to success: Naked Wines sees lifted sales as loyal customers return to purchase drinks April 20, 2022 Online wine seller Naked Wines has raised a glass to results in-line with expectations after crediting high levels of returning customers. In an update for the fiscal year ended 28 March, the Norwich-based retailer said performance was in-line with expectations. Trading was driven by repeat customer sales, strong retention and demand from existing members, the [...]
Just Eat slashes profit guidance for year and mulls sale of Grubhub April 20, 2022 Just Eat has said it has lowered its profit guidance for the year and is mulling the sale of its US arm Grubhub. The delivery service said that “management is currently, together with its advisers, actively exploring the introduction of a strategic partner into and/or the partial or full sale of Grubhub.” “There can be [...]
The City View: Michael Hewson on Germany’s Russian energy oversights and Merkel’s legacy April 19, 2022 Today Andy Silvester talks to Michael Hewson, Chief Markets Analyst at CMC Markets. They go through the latest IMF forecasts, which included downgrades and the worst growth forecast in the G7 for the UK; Germany’s exposure to energy price fluctuations, the mounting pressure to reduce its dependency on Russian oil and gas, and Angela Merkel’s [...]
Retail footfall lifted by shoppers stocking up for long Easter weekend April 19, 2022 Shops saw a footfall injection in the run up to Easter as Brits flocked to high streets to make the most of the good weather. Footfall during Monday to Thursday last week was up by an average of 15 per cent, with a 21.9 per cent rise on Thursday. Footfall across all retail destinations rose [...]
Made.com boss: Shoppers holding back on homeware purchases amid pressure on budgets April 19, 2022 The boss of online furniture retailer Made has said shoppers have “held back” with purchases lately amid dramatic increases in the cost of living. Speaking to the PA news agency, chair Susanne Given said customers were more hesitant than usual due to rising inflation and war in Ukraine. She added: “The customer has definitely held [...]
In order to succeed, today’s entrepreneurs must be able to tell their story April 18, 2022 I have a great story to tell, I’ll admit it. I came to the UK as part of the Windrush generation. I landed in Birmingham with nothing: my four brothers and I lived in poverty, and I had to scrap for everything. I worked on my father’s allotment from the age of five; I dropped [...]
Next snaps up JoJo Maman Bebe April 17, 2022 Next and a group of finance firms have snapped up JoJo Maman Bebe in a push for the baby goods retailer.
Ted Baker founder Ray Kelvin backs Sycamore bid April 17, 2022 Ousted Ted Baker founder Ray Kelvin has given his support to taking the retail giant private following a rocky performance since his departure.