Mercato Metropolitano’s founder is a man on a mission October 21, 2019 The words Elephant & Castle and trendy food market don’t normally go together. It’s an area that’s unfortunately more associated with crime and poverty than gourmet dining. But since 2016, a patch of unassuming land around the corner from the Ministry of Sound has played home to Mercato Metropolitano. This upscale hotspot has around 50 vendors [...]
Supermarket chain Iceland takes a hit as insurers freeze out suppliers October 20, 2019 Suppliers to supermarket chain Iceland are said to have had their insurance cover cut amid concerns about the impact of Brexit on the company’s supply chain. Paris-based insurer Euler Hermes reduced the credit cover it provides to Iceland’s suppliers over the summer, while rival Atradius is also mulling a possible cut, the Sunday Times reported. [...]
Bonmarche collapses due to ‘challenging trading conditions’ putting 3,000 jobs at risk October 19, 2019 Womenswear retailer Bonmarche has collapsed into administration putting 2,887 jobs at risk. The high street brand with a target demographic of women over 50 was placed into administration on Friday by directors following a “sustained period of challenging trading conditions and cash flow pressure”. Read more: WTO gives go-ahead for $7.5bn of US tariffs on EU [...]
UK retail sales growth holds steady as Brexit day approaches October 17, 2019 Growth in UK retail sales held steady in the third quarter of the year, official figures have shown, as shoppers remained cautious in the run-up to the October Brexit deadline. Read more: UK unemployment rate rises as Brexit fears hit labour market Britons bought 0.6 per cent more goods in the second quarter than in [...]
WH Smith ramps up overseas drive with $400m US deal October 17, 2019 WH Smith has revealed plans to snap up a US travel company for more than £300m as the retail giant looks to broaden its scope beyond the UK high street. In a deal that will double the size of the firm’s international business, WH Smith is buying Marshall Retail Group for $400m (£312m) to ramp [...]
Lidl invests £15bn in British suppliers October 16, 2019 Lidl has announced a £15bn investment in its UK suppliers as it pledged to sell more British meat and fresh food. The German discount supermarket announced the five-year investment today as it marked 25 years operating in the UK. Read more: Lidl’s suppliers warned of EU tariff import costs As part of the announcement, the [...]
Asos profit falls by two-thirds as expansion costs push up debt October 16, 2019 Profit at Asos fell by 68 per cent in the year to August as the UK fashion giant took a hit from a major overhaul of its business model and costly international expansion. The online retailer blamed the drop on a costly operational expansion into Europe and the US which was fraught with problems including [...]
Click and collect services could boost in-store sales October 16, 2019 Investment in click and collect services could boost bricks and mortar sales as customers make last minute purchases when they pick-up items in store. More than eight in 10 customers said they buy extra items in store when using click and collect, according to the latest research, and more than three quarters of retailers said [...]
Eco-friendly product sales surge on climate change awareness October 16, 2019 Environmentally aware consumers moved away from one-use plastics this year as climate change activism hit the headlines, sparking a surge in sales of eco-friendly items. Sales of reusable straws increased 1,573 per cent at John Lewis due to heightened awareness of the environmental impact of single-use plastics. Read more: Climate activists target bankers during second [...]
Sainsbury’s beats rivals to report sales growth October 15, 2019 Sainsbury’s beat its rivals to become the only major UK supermarket to report sales growth in the last 12 weeks. The grocer’s sales increased 0.6 per cent, its fastest rate since October last year, while the other “Big Four” supermarkets- Tesco, Asda and Morrisons – saw sales decline 0.2 per cent, 0.9 per cent and [...]