Lockdown DIYers push B&Q owner Kingfisher past £1bn profit March 22, 2022 Kingfisher’s sales shot up last year as the B&Q owner became the third UK retailer to exceed £1bn profit. The home improvement behemoth joined retail titans Tesco and Marks & Spencer when it revealed its profits had reached record levels on Tuesday. Lockdown DIYers sent sales past £13bn for the year to 31 January, thanks [...]
Supermarkets made hay from restrictions, now they need to consolidate to keep going March 11, 2022 THE rapid grocery delivery sector has grown at a staggering pace across Europe and the US. Two years on from when we first saw Getir, Weezy, Zapp and Gorillas advertised on buses and hoardings across London, data from the ONS revealed the average weekly sales of online groceries in December 2021 were £372m – more [...]
Amazon makes major U-turn by shutting all book stores and physical shops in UK March 6, 2022 E-commerce giant Amazon has said it is planning to shut all of its book stores as well as its other brick-and-mortar shops and pop-up stores in the UK and US. The shock announcement to close down all 68 book stores, as well as shops that offer toys and home goods in Britain and the US, [...]
Discount retailers benefit from cost of living crunch as shoppers head to Aldi and Lidl March 1, 2022 Grocery price inflation hit a new high of 4.3 per cent last month, with budget supermarkets luring shoppers in as the cost of living intensifies. Fresh data from Kantar reveals the fastest rate of inflation since September 2013, with the exception of the start of the pandemic when households panic bought essentials. Aldi and Lidl [...]
Second chances: Ex-offenders could help solve recruitment crisis February 28, 2022 “I always wanted to be a drug dealer. Getting a job would have been strange to me,” Liam Meredith, an ex-offender who now runs his own catering business, says. Many young men like Meredith struggle to break a cycle of offending even after they leave prison, due to tumultuous home lives. For men like Meredith, [...]
EV charging provider EO extends deadline for US SPAC merger February 25, 2022 Electric vehicle (EV) charging provider EO Charging has extended the deadline to complete a $675m merger with US special purpose acquisition company (SPAC) First Reserve Sustainable Growth. Sources said that, while the agreement is required to be finalised by 11 March, doubts on whether the company will meet the deadline have emerged, Sky News has [...]
New Zealand Sauvignon Blanc is in short supply – here’s what to do February 25, 2022 The New Zealand Sauvignon Blanc is a stalwart of the London wine list. Even the most wine-wary have probably tried a glass with its distinctive notes of gooseberry and passionfruit. A globally popular choice there is world-wide demand, which is why the current shortage is causing a stir. “The 2021 harvest, while of exceptional quality, [...]
Havas snaps up UK digital agency Inviqa in ‘eight-figure deal’ February 22, 2022 Havas Group has today announced its acquisition of the UK digital experience agency Inviqa in a substantial, “eight-figure deal”. The company, which comprises more than 150 employees across eight offices, will be integrated into Havas Creative’s dedicated customer experience network, Havas CX, to significantly expand its specialism, scale, and capabilities in experience design, software engineering, [...]
Pod Point’s profit skyrockets as EV market soars February 18, 2022 Electric vehicle (EV) charging firm Pod Point has reported skyrocketing profits as a result of strong consumer demand. In the year ended 31 December, the company registered an 86 per cent increase in year-on-year revenue, going up to £61.4m, while gross profit surged 99 per cent. Gross margins went up two per cent, while home [...]
London markets edge higher as investors shrug off another hot inflation print February 16, 2022 London markets were muted yesterday as investors digested the implications of another red hot UK inflation print. The capital’s premier FTSE 100 index edged down 0.07 per cent to 7,603.78 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, dipped 0.11 per cent to 21,828.94 points. [...]