All News articles – Page 9
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NewsJoules chief executive to exit as profits decline
Joules boss Nick Jones has made the decision to exit the business as it continues to suffer losses.
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Boohoo boss pledges to ‘rebound’ as profits slide and returns rates spike
Boohoo has recorded a slide in preliminary profits exacerbated by slowing international growth, but boss John Lyttle says the etailer is “well-positioned to rebound strongly”.
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Retailers call for business rates cut to help battle cost-of-living crunch
A coalition of leading retailers and trade bodies has launched a ‘Cut the Shops Tax’ campaign, arguing for a business rates reduction to combat inflationary pressures and protect industry jobs.
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CD&R to sell 87 petrol stations to clear way for Morrisons takeover
Private equity giant Clayton, Dubilier & Rice (CD&R) is to sell almost 90 petrol station forecourts, paving the way for it to complete its £7bn takeover of Morrisons.
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Tesco joins forces with Uber to expand Whoosh rapid delivery service
Tesco has partnered with Uber to accelerate the rollout of its Whoosh rapid grocery delivery proposition.
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JD Sports, Frasers, Asos and Shein mull Missguided bids
Several retailers are considering takeover bids for Missguided after the etailer admitted it was exploring “strategic options” for its future.
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Card Factory swings to profit as sales mount ‘steady recovery’
Card Factory has bounced back into the black after mounting a “steady recovery” in sales following the coronavirus pandemic.
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Issa brothers’ EG Group in £12bn merger talks with Couche-Tard
EG Group, the petrol forecourt giant operated by Asda owners the Issa brothers, is reportedly in talks to merge with Canadian c-store titan Couche-Tard.
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AO focuses on cash generation as sales fall
Electrical goods etailer AO.com has posted a fall in sales and said it would focus on cash generation in turbulent market conditions.
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Former John Lewis fashion boss joins Nickolds at Sainsbury’s
A former senior member of the John Lewis leadership team has joined Sainsbury’s as it seeks to build its non-food operations.
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Amazon slips into loss as productivity becomes focus
Online giant Amazon has reported a quarterly loss - its first since 2015 - as torrid trading conditions took a toll.
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Reliance and Apollo join forces in bid to secure Boots takeover
India’s largest listed company Reliance Industries and US buyout firm Apollo Global Management, which had both previously bid separately for Boots, have launched a joint bid for the health and beauty chain.
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Sainsbury’s profits climb but sales slip as grocer braces for cost-of-living crunch
Sainsbury’s has recorded an uplift in full-year profits but warned that “significant external pressures” would dampen its profits in the upcoming financial year.
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WHSmith boss Cowling: ‘We’re confident that travel is back for good’
WHSmith chief executive Carl Cowling has told Retail Week he is sure the leisure travel industry will boom through the summer and beyond – giving his travel stores a boost.
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Ted Baker fields bid interest from ‘a number’ of potential buyers
Ted Baker has received “a number” of proposals from potential bidders as the battle to take the fashion chain private intensifies.
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WHSmith bounces back into black as travel retail rebounds
WHSmith has swung back into profit and insisted that its recovery from the coronavirus pandemic is “well underway”.
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Gousto founder Timo Boldt: Technology is helping us keep prices low for customers
Gousto founder and chief executive Timo Boldt is putting his faith in automation and the subscription box retailer’s proprietary artificial intelligence to keep prices low for customers.
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Primark U-turns on price promise as energy and labour costs soar
Primark has rolled back on its pledge that its prices would not change as the retailer grapples with rising inflationary pressures.
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Holland & Barrett hires former M&S product director
Holland & Barrett has appointed former Marks & Spencer product director April Preston as its new global product director.
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Asda increases pay for shop staff as cost-of-living crisis bites
Supermarket chain Asda has joined its rivals in increasing the pay of its frontline shop staff as the cost-of-living crunch continues to ramp up.
