Up-to-date coverage of the latest events in UK retail.
07:48am Made.com posts ‘record’ full-year sales jump
Furniture etailer Made.com’s full-year UK revenue hit £100m for the first time in what boss Philippe Chainieux heralded as “a strong year.”
The online retailer posted a 37% uplift in full-year revenue to £173m in 2018, bolstered by a 34% increase in UK revenue, which accounted for 58% of overall sales.
07:44am Kirkcaldy shopping centre auctioned for £310,000
The Fife shopping centre, which was put up for auction with a reserve price of just £1, was sold after five minutes of bidding from a dozen different bidders.
The Postings centre was sold to pension fund Columbia Threadneedle
A Columbia Threadneedle spokesperson said: “We are pleased that The Postings has moved on to a new owner who can hopefully reposition and revitalise it to the benefit of the local community.”
The shopping centre has 21 store spaces in total, but 14 are currently unoccupied. Current tenants include Lloyds Pharmacy and Farmfoods Limited.
07:28am Unilever snaps up healthy snacking firm Graze
Unilever has acquired Graze for a reported £150m after fending off interests from FMCG giants such as Pepsi and Kellogg’s.
Unilever has bought Graze from US buyout firm Carlyle, which has owned Graze since 2012.
The private equity firm was reportedly aiming to raise £300m from the sale of the business.
07:07am Apple’s head of retail Ahrendts steps down
Apple’s head of retail and online stores Angela Ahrendts is leaving the business after five years.
Ahrendts, who joined the electricals giant in 2014 and has been rumoured to be chief executive Tim Cook’s potential successor, will step down from her role in April to pursue “new personal and professional pursuits.”
She will be succeeded by the retailer’s current vice president of human resources Deirdre O’Brien. O’Brien, who has been with Apple for 30 years, will expand her role to become senior vice president of retail and people.