Icelandair stocks skyrocket as it announces Wow Air purchase November 5, 2018 Icelandair closed up more than 39 per cent today after the airline announced plans to buy fellow Icelandic carrier Wow Air. The deal, which is subject to approval by Icelandair’s shareholders and the country’s competition authorities, will see Wow Air shareholders receive 5.4 per cent of Icelandair’s shares. Icelandair said the companies will continue to operate as [...]
Out with the old, in with the new UK high street September 26, 2018 A tale of two retailers dominated the high street yesterday – Next’s shares jumped nearly eight per cent after the fashion giant lifted its full-year profit guidance while Card Factory’s shares lost a tenth of their value after profits were off-message. Read more: Next nudges up profit guidance after blistering summer The diverging fortunes [...]
Poundland warns landlords over costs as it moves into 20 former Poundworld stores September 20, 2018 Poundland has warned landlords about the "new realities of retail" as it announced the take over of former Poundworld stores after the rival discount brand collapsed into administration. Poundland will open in 20 large sites previously occupied by Poundworld in October, in a move that could create more than 400 jobs. Read more: Iceland to take over a handful of former Poundworld stores More than 5,000 [...]
Supermarket sweep: Industry benefits from World Cup shopping spree September 18, 2018 The World Cup and sunny weather led consumers to spend almost £500m more at supermarkets over summer than they did the year before, according to new data released today. Alcohol spending grew by £228m, while people spent £178m more on fizzy drinks and £74m more on ice cream during one of the hottest summers on record, [...]
Iceland boss Malcolm Walker: Which? supercomplaint over supermarket offers was “b*****ks” July 17, 2015 Iceland boss Malcolm Walker – the supermarket sector's answer to Michael O'Leary – has blasted the Which? supercomplaint over misleading deals as “bollocks”. The consumer group took a petition signed by more than 100,000 to the Competition and Markets Authority earlier this year, claiming it had found examples of “dodgy special offers” that led [...]
Malcolm Walker’s many lives: How Iceland hopes to fight off profit slump June 10, 2015 Malcolm Walker has more business lives than a cat. He built his frozen food empire Iceland from a humble shop in Shropshire in 1970 into a £2bn turnover business 30 years later, before hitting a financial iceberg. Walker was forced to step down as chairman in 2001 after the Financial Services Authority launched an [...]
Iceland makes return to public markets after £950m refinancing August 31, 2014 ICELAND is set to report its first quarterly trading update to bondholders this month after completing a £950m refinancing that saw the frozen foods retailer return to the public markets for the first time in almost a decade. The grocer, which runs 833 stores and franchises in UK and Europe, placed £950m of high yield [...]
Iceland moves back into white goods market with online tie-up November 27, 2013 FROZEN food specialist Iceland is moving back into white goods by starting an online appliances store in partnership with DRL Limited – the parent company that launched Appliances Online more than 10 years ago. Iceland stopped selling non-food products in 2009 when chief executive Malcolm Walker decided to close its in-store electricals showrooms and use the [...]