Up-to-date coverage of the latest events in UK retail.
7.07am Just Eat boss steps down
Just Eat chief executive Peter Plumb has stepped down as boss with immediate effect.
The takeaway food delivery marketplace has kick started a search for his successor, and appointed chief customer officer Peter Duffy as interim chief executive.
Plumb said: “2018 was another year of strong growth for the group. The business is in good health, and now is the right time for me to step aside and make way for a new leader for the next exciting wave of growth.”
7.00am Mountain Warehouse Christmas sales spike
Mountain Warehouse is on track to post its largest ever full-year profit after sales climbed during the crucial Christmas trading period.
The outdoors specialist registered a 12% hike in total sales to £84.7m during the 13 weeks to January 6. Online sales jumped 24.6% across the same period.
The retailer said sales grew 20% during the Black Friday weekend. Online sales on Black Friday itself passed £1m – the first time Mountain Warehouse has racked up £1m of ecommerce sales in a single day.
6.50am Sainsbury’s-Asda merger decision faces delay
The decision over whether to allow Sainsbury’s £13bn merger with Asda to go ahead could be delayed.
A court ruling has indicated that a final regulatory verdict on the deal will be moved to the end of April. The decision had initially been due in early March.
The Competition Appeal Tribunal said the revised deadline of April 30 was “now recognised to be necessary”.
6.45am Chapelle Jewellery & Watches goes into administration
The owners of Chapelle Jewellery & Watches have called in administrators following a slump in sales.
Mortimer Management Group Limited and The Jewellery Outlet Limited, which together trade as Chapelle, drafted in Duff & Phelps to handle the process last week.
The move has thrown the future of Chapelle’s 21 stores and 250 employees into doubt.
Duff & Phelps director Jimmy Saunders said: “Whilst the current management team has spent the last two years working hard to enhance the store estate, brand proposition and driving significant operational efficiencies, economic uncertainty continues to weigh heavily on consume confidence.
“In addition, retailers face rising business rates, national minimum wage increases and a paradigm shift in the retail landscape. This has impacted most retailers and as a result of trading losses, Chapelle could no longer meet its ongoing liabilities.”
