Brexit no obstacle for Watches of Switzerland as it eyes expansion into Europe July 8, 2021 Europe is firmly on the radar of luxury retailer Watches of Switzerland. Under a new five-year plan, the group aims to enter the European luxury watch market through acquisitions and new boutiques in a shift away from its previous focus on the UK and US. Britain’s biggest retailer of Rolex, Cartier, Omega, Tag Heuer and [...]
WH Smith’s airport takeover is InMotion after Dixons Travel shop deal July 8, 2021 WH Smith's airport takeover is InMotion after Dixons Travel shop deal
Discounter B&M revenue growth slows after bumper pandemic trade July 8, 2021 Discount retailer B&M’s first quarter results show increased revenue, but at a slower pace to the growth in its last financial year. The group’s total revenue for the first quarter, the 13 weeks to 26 June, increased from £1.15bn to £1.18bn, providing a strong start to the new financial year for the retailer. The results [...]
Amazon accounts for a quarter of all UK online spending July 7, 2021 Amazon commands a sizeable chunk of all UK online spending, with more than a quarter of online purchases made via the ecommerce giant. A total 27 per cent of all UK online spending is via Amazon, according to data from ecommerce consultancy Wunderman Thompson Commerce. Last year, eMarketer forecasted that UK consumers will spend £141.33bn [...]
Philip Green’s wife Tina paid £50m by Topshop administrators July 7, 2021 Tina Green, the wife of former retail tycoon Philip Green, received £50m in May from Topshop’s administration. The £50m was lent to Topshop as part of an emergency restructuring in 2019 and secured against a warehouse in Northamptonshire. In the wake of the collapse of parent company Arcadia, the space was sold for £83m, the [...]
UK small businesses rack up £3.5bn in Amazon export sales July 7, 2021 Small and medium-sized British businesses selling on Amazon recorded over £3.5bn in export sales last year, according to figures released by the tech giant. Amazon said more than 14,000 UK SMEs surpassed £100,000 in sales in 2020, while over 1,000 reached £1m in sales for the first time. The top five categories in which customers [...]
Former Sainsbury’s boss backs Ellie Goulding’s hard seltzer brand July 6, 2021 Former Sainsbury’s chief executive Justin King has made a “significant” investment in Ellie Goulding’s hard seltzer drinks brand and joined the board as a senior adviser. Served, which was founded by brothers Dean and Ryan Ginsberg last year, has seen its revenue surge in recent months and was valued at £13.6m after a funding round [...]
Three very cool roles open in London right now July 6, 2021 Are you looking for a new job at the moment? We have some great news – loads of brilliant companies are hiring this summer, all over the UK and beyond. This week, we wanted to highlight some really cool jobs that are open in London. Check them out and be sure to apply if they’re [...]
Test for London’s fintech sector: Wise listing could turn into ‘volatile affair’ July 6, 2021 Cross border payments company and fintech giant Wise will be admitted to the London Stock Exchange tomorrow morning. No price guidance has been issued, which will mean that the stock price will be determined during the auction, which will be a lengthy one – from 7.50am onwards, with trading to begin just after 11am – [...]
Driver shortages leave gaps on Sainsbury’s shelves July 6, 2021 The boss of Sainsbury’s has admitted the supermarket has struggle to source all of its usual products in wake of a serious lorry driver shortage that has affected multiple sectors. Speaking today following Sainsbury’s quarterly results, CEO Simon Roberts said the supermarket giant had been unable to stock all its usual products because of driver [...]