Harrods to increase in-store investment after customers spent £2.1bn last year October 8, 2018 Harrods will increase investment in luxury boutiques at its Knightsbridge store after defying the retail environment with a 9 per cent profit rise. The luxury department store posted profits after tax of £176.7m, up nearly 9 per cent on the previous year's £162.5m. More than £2.1bn was spent at Harrods in the year ending 3 [...]
Second customer to have died after allergic reaction to Pret product named as Celia Marsh October 8, 2018 The second Pret a Manger customer believed to have died after having an allergic reaction to one of the chain's products has been named. Celia Marsh, 42, died on 27 December 2017 after eating a "super-veg rainbow flatbread" that was supposed to be dairy-free, but was later found to contain a yoghurt with traces of dairy. [...]
French Connection shares rocket as retailer looks for a buyer October 8, 2018 Shares in French Connection were up a huge 32 per cent in early morning trading on the back of news that the brand is up for sale. The clothing retailer yesterday confirmed that it is looking to sell, with founder Stephen Marks hoping to offload his 42 per cent stake. Read more: French Connection founder [...]
Easyhotel reveals portfolio growth in continued UK and European expansion October 8, 2018 Budget hotels operator Easyhotel's UK and European expansion efforts this year have resulted in a 42 per cent jump in its portfolio size, a trading update this morning revealed. The figures In the financial year ending 30 September 2018, Easyhotel opened five new hotels owned by the company, and four new franchisee hotels. Combined, this resulted in [...]
House of Fraser partner threatens legal action over store’s debt against administrators EY October 8, 2018 A House of Fraser concession partner is considering legal action against the company’s administrator EY, claiming its classification of his business will cost him hundreds of thousands of pounds. Ehab Shouly, who runs three tea rooms in House of Fraser stores, says he is owed over £300,000 from the company – the equivalent of two [...]
French Connection founder Stephen Marks could sell 42 per cent stake, company confirms October 8, 2018 The founder of French Connection is looking to sell, 46 years after creating the fashion brand, the company has confirmed. Stephen Marks is looking to offload his 42 per cent shareholding and has started approaching potential buyers. The company said it is “currently reviewing all strategic options in order to deliver maximum value for its [...]
Pret a Manger supplier hits back at claims its products killed a second allergic customer at sandwich shop in 2017 October 8, 2018 A Pret a Manger supplier has hit back at claims that its yoghurt killed an allergic customer. Pret a Manger says a supposedly dairy-free yoghurt from supplier Coyo contained traces of a dairy protein, causing the death of a customer in its Bath store on 27 December last year. It is the second recent death [...]
Amazon eyes British retail space for grocery stores October 7, 2018 Online retail giant Amazon is eyeing up the acquisition of several sites in Britain to develop its checkout-free grocery business. The Sunday Times yesterday quoted sources as saying Amazon wanted stores of between 4,000 sq ft and 5,000 sq ft to house Amazon Go, an arm of the business that uses technology to track the [...]
Leading bookie calls for ban on TV gambling ads before watershed October 7, 2018 The boss of one of the UK's biggest bookmakers will this week call for a ban on gambling adverts being shown before the 9pm watershed. Kenny Alexander, chief executive of Ladbrokes and Coral owner GVC, told Morning Wire the number of ads appearing during football games had got "out of hand" as he called for the rest of [...]
French Connection chief seeks to sell off controlling stake October 6, 2018 French Connection founder Stephen Marks is sounding out potential buyers for his controlling stake in the retailer, it emerged today, in a deal which could trigger a takeover of the whole business. Advisers from Numis Securities, acting on Marks' behalf, have been speaking to prospective bidders this week about the 42 per cent shareholding, sources [...]