Tata Motors’ share price tanks on Jaguar Land Rover losses February 8, 2019 The share price of Indian conglomerate Tata Motors fell 17 per cent today after it posted the biggest-ever quarterly loss in Indian corporate history of about £3.1bn. The loss was triggered by falling Chinese demand for Jaguar Land Rover’s (JLR) cars, the main source of Tata Motors’ revenue. Tata said JLR would post an operating [...]
How to capitalise on China’s luxury boom February 8, 2019 As many companies experience a slowdown in China, luxury brands are surely smiling as they look at their sales performance. Last week, LVMH – the world’s largest luxury group, which includes brands like Louis Vuitton, Dior, and Moet & Chandon – surprised everyone by announcing an increase in sales during its fourth quarter earnings, and [...]
Net retail sales plummet as investor confidence knocked by political and economic uncertainty February 7, 2019 Investor confidence was knocked by a "perfect storm" of political and economic uncertainty last year sending net retail sales plummeting by 85 per cent. Brexit, US-China trade tensions, the slide in the Turkish Lira and the Italian budget crisis all impacted investor sentiment last year and saw sales drop to £7.2bn in 2018 in comparison to £48.5bn [...]
Superdry points finger at warm weather for cooling winter sales February 7, 2019 Superdry suffered a dip in sales over the crucial Christmas trading period, citing unseasonably warm weather for a fall in demand for the fashion group’s flagship Japanese winter hoodies. The British fashion group, which has seen its shares crash 70 per cent in the last 12 months, said its performance in the three months to [...]
Segro appoints Mondelez chocolate boss Mary Barnard to the board February 6, 2019 Property group Segro today said it has appointed a veteran of confectionery company Mondelez to its board. Mary Barnard, who is currently president of European chocolate for Mondelez, will take up the position of non-executive director from the beginning of March. Read more: Segro rent soars amid rising e-commerce demand for warehouse space The British [...]
Unilever swallows healthy food startup Graze February 5, 2019 Retail giant Unilever has agreed a deal to buy UK healthy snacks firm Graze at a reported valuation of £150m. Founded in 2008, the brand had raised just £2m from London investors Octopus Ventures and Draper Esprit before being acquired by US buyout group Carlyle in 2012. The bidding war for Graze had garnered interest from [...]
UK economy set for much-needed spending boost thanks to Chinese tourists February 5, 2019 The UK economy is set to receive an international spending boost as tourists from outside the EU continue to splash out in spite of Brexit worries. International spend will increase four per cent year-on-year over the next 90 days, according to forecasts from tourism shopping firm Global Blue. Read more: China's success will depend on the [...]
TfL urged to be ‘open’ with Londoners about Northern Line extension delay February 5, 2019 Transport for London (TfL) has been told to be "open" with Londoners about the reasons behind the Northern Line extension delay after boss Mike Brown said a revised opening date would have "no material impact" on its revenues. The extension, which will lengthen the Northern Line to Battersea and create 25,000 new jobs and 20,000 new homes, was scheduled to open next [...]
Cost-cutting overhaul lifts jewellery maker Pandora’s share price February 5, 2019 Jewellery maker Pandora’s share price soared in early morning trading today, as investors welcomed a radical cost-cutting plan put forward by the embattled fashion group. The Danish jeweller saw the value of its shares climb 14 per cent this morning after the retailer revealed plans to save 1.2bn Danish crowns (£141.1m) in a bid to [...]
Aldi and Lidl bag more market share as Veganuary boosts supermarkets’ fresh produce sales February 5, 2019 Aldi and Lidl enjoyed the strongest growth of any UK supermarket over the past 12 weeks, according to the latest industry figures, as Veganuary boosted fresh produce sales across the sector. Around 18.3m households shopped in at least one of the discount supermarkets in the 12 weeks to 27 January, industry research firm Kantar Worldpanel data revealed [...]