Philip Green’s Miss Selfridge posts £17.5m loss as sales slump September 29, 2019 Sir Philip Green’s Miss Selfridge chain fell to a loss of £17.5m last year as the retailer suffered a decline in sales and a writedown in the value of loss-making stores. The womenswear chain booked sales of £102m in the year to 1 September 2018, down more than 15 per cent on the previous 12 [...]
Sushi stalwart Itsu posts loss as it eyes expansion in the US September 29, 2019 Sushi chain Itsu fell to a pre-tax loss of £6m last year as stronger sales were offset by expansion in the US. The British food chain, which was founded by Pret a Manger tycoon Julian Metcalfe, pulled in revenue of £116m, up nine per cent on the previous year. Read more: Restaurant insolvencies jump by [...]
Luxury travel firm Secret Escapes snaps up failed rival Laterooms September 29, 2019 Luxury travel agency Secret Escapes has snapped up part of collapsed rival Laterooms as it booked a 66 per cent increase in sales for the year. Read more: Thomas Cook: Travel giant collapsed with a £3.1bn balance sheet deficit The London-headquartered company, which offers deals on holidays and hotels for its members, has acquired the [...]
Taking the shoe shine off: Clarks brought to employment tribunal by boss fired for misconduct September 29, 2019 The former chief executive of iconic British shoe brand Clarks has embarked on a legal battle against the company, claiming he was not given a chance to answer misconduct claims before being ousted. Mike Shearwood will allege at an employment tribunal, starting tomorrow in Bristol, that he was given a list of allegations at a [...]
Peloton shares sink on second day of trading September 27, 2019 Shares in fitness start-up Peloton sank a further four per cent today after making a disappointing stock market debut yesterday. Peloton shares were initially priced at $29 when the company listed in New York yesterday morning, but closed more than 11 per cent down at $25.75. Read more: Peloton prices float at $29 per share [...]
Jacques and the bean hoax: French firm fined over veg cartel September 27, 2019 A French and a Dutch company have been fined nearly €32m (£28m) for a 13-year cartel which pushed up the price of green beans, peas and canned vegetables. The European Commission said it was charging France’s Cecab €18m, while Coroos, a Dutch company, will have to pay €13.6m for taking part in the cartel. Read [...]
Suning buys majority stake in Carrefour China for £545m September 27, 2019 French retail giant Carrefour has sold a majority stake in its Chinese business to Suning for €620m (£545m). The Chinese retailer has bought 80 per cent of the firm’s share capital as it attempts to secure growth in online food sales and expand its number of physical stores. Read more: Kingfisher appoints Carrefour exec as [...]
Consumer confidence edges up in September September 27, 2019 Consumer confidence grew slightly this month but remained negative overall as uncertainty continued in the run up to the 31 October Brexit deadline date. Despite the two point increase, consumer confidence was still minus 12 points in September compared to a score of minus nine in the same month last year. Read more: UK consumer [...]
British Land withdraws Monsoon Accessorize legal challenge September 26, 2019 British Land has reportedly withdrawn its legal challenge to Monsoon Accessorize’s restructuring plan, giving the fashion retailer the green light to implement the rescue proposals. The landlord has agreed to abandon a case that could derail the chain’s company voluntary arrangement, Sky News reported. Read more: British Land files legal challenge against Monsoon Accessorize CVA [...]
Vape-maker Juul keeps advertising in UK despite pulling US campaign after health scare September 26, 2019 Vape pen maker Juul will continue to advertise in the UK despite pulling all it promotion from the US market, it has confirmed. The brand yesterday decided to end all broadcast, print and digital advertising in the US, but will continue in the rest of the world. Read more: US vaping deaths hit growth at [...]