Kick Game calls in PwC as firm weighs up £150m sale August 14, 2022 Trainer reseller Kick Game has called in City big dog PwC to help advise the company on a potential £150m sale.
Zalando chief cuts marketing rather than jobs as the retailer battles inflationary pressures August 14, 2022 European fashion giant Zalando chief has said the company is turning to marketing cuts rather than job cuts as the sector grapples with a consumer spending slowdown.
Morrisons, Tesco and Sainsbury’s suspend sales of disposable barbecues amid heatwave August 12, 2022 Morrisons, Tesco and Sainsbury’s are among a slew of household names to halt sales of disposable barbecues owing to warm weather concerns. There have been warnings about potential fires due to high temperatures this summer, as large swathes of the country have been categorised as drought status. Morrisons said in a statement on Friday: “In [...]
Johnson & Johnson to discontinue talc-based baby powder August 12, 2022 Consumer health giant Johnson & Johnson will stop selling talc-based baby powder next year, after thousands of lawsuits. The company discontinued sales of the product in the US and Canada in 2020, after demand dropped in the wake of a slew of lawsuits. Some 38,000 lawsuits against the company have alleged that such products caused [...]
High street tycoon and Topshop creator Sir Ralph Halpern passes away at 83 August 12, 2022 Topshop founder and one of the creators of the high street as we know it, Sir Ralph Halpern, has passed away at the age of 83, it has been reported. Halpern was the chief executive of the menswear retailer Burton Group from the late 1970s to early 1990s. “Our father left an irreplaceable mark on [...]
‘No discernible sign’ of spending slowdown for betting titan Flutter amid cost of living crunch August 12, 2022 Gaming brands operator Flutter has said it has not yet seen any big shift in consumer spending, amid historically high levels of inflation. In interim results for the year, the FanDuel and Sportsbet said there had been “no discernible signs of a consumer slow down currently” as the second-half of the year progresses. The company [...]
Fears of energy blackouts posing threat to meat and milk supplies August 11, 2022 Supplies of milk and meat could be endangered if the country is forced to deal with blackouts later this year, industry chiefs have warned. According to a report in The Telegraph newspaper, power outages would inhibit food producers including those in the dairy industry. Some industries will not be able to prevent or stagger certain [...]
Monster energy bill increases threaten to be a ‘pub killer’ as bosses urge ministers for business price cap August 11, 2022 Publicans have called on ministers to introduce an energy price rise cap for venues amid pleas that bill hikes threaten to “be a pub killer.” The British Institute of Innkeeping (BII) said the majority of its members were experiencing a minimum 300 per cent increase in energy costs, all while venues attempt to recover from [...]
Coca-Cola bottler details £160.2m hit from Russia sales suspension August 11, 2022 Coca-Cola HBC has revealed it took a hit worth £160.27m after suspending the sale of its beverages in Russia following the invasion of Ukraine. In interim results, the soft drink bottler said it anticipated charges of around £69.17m in the second half of the year after depleting its stocks and suspending production and sales of [...]
Ladbrokes owner Entain creates new venture to drive Central and Eastern European expansion August 11, 2022 Ladbrokes owner Entain has joined forces with an investment firm to create a new venture to fuel expansion in Central and Eastern Europe. Entertain CEE will drive expansion in the markets, in a partnership with EMMA Capital, with Entain owning 75 per cent of the economic rights. The London-listed firm also announced a takeover of [...]