John Lewis cuts bonus and puts stores at risk of closure March 5, 2020 New John Lewis Partnership boss Sharon White this morning slashed workers’ bonuses and announced store closures as the struggling retailer posted a dive in profits for 2019. The figures John Lewis cut its bonus to two per cent today, down from three per cent last year, the lowest pay out to partners in 67 years. [...]
BBC calls for ‘demonstrable resilience’ as it launches search for new boss February 10, 2020 The BBC has fired the starting pistol on its search for a new director general, calling for applicants with “demonstrable resilience” as it tries to head off fierce political pressure. The broadcaster today published a job advert for its top position after current director general Tony Hall announced plans to step down in the summer. [...]
The only way is gin: The Essex firms making world-beating booze July 13, 2021 Essex is establishing a name for itself. Not for Kevin and Sharons but wines and gin. Its legion of winegrowers and distillers have now been joined by Nikki Mendes from Leigh-on-Sea who has founded The Only Way Is Gin. “I set out to create a gin that shouts out proudly about where it’s from: Chelmsford!” [...]
John Lewis threatens to withhold 20 per cent of service charges October 4, 2019 John Lewis is threatening to withhold up to 20 per cent of service charge to landlords to protest the increase in payment amounts . The department store said it is attempting to reduce costs but has been faced with service charge hikes at some of its shopping centre branches. Read more: John Lewis to axe [...]
John Lewis to axe a third of senior managers to save £100m October 1, 2019 The John Lewis Partnership is slashing its senior management layer by one third in a shock £100m bid to cut costs at the struggling retailer. Around 75 senior managers will get the axe from the current total of 225 in head office, John Lewis said. As part of the shake-up, the embattled chain also revealed [...]
Taking a walk on the wild side of Sardinia October 9, 2021 Flying into Sardinia’s Cagliari, the ancient city spreads out below you, and then gives way to the packed beach resorts of Costa Smeralda. Cagliari’s rich in history and culture, and the resorts’ nightlife is amongst the most vibrant in the Med, but the last thing I wanted was to be surrounded by other holidaymakers. I’d [...]
Most retail landlords consider re-purposing property September 18, 2019 Most retail landlords are considering redeveloping their properties for other uses in a further blow for the struggling UK high street. In total, 18 per cent of landlords have already completed a re-purposing project and a further 75 per cent are considering making the move, according to a survey by estate agent Savills. Read more: [...]
John Lewis swings to a loss and flags no-deal Brexit fears September 12, 2019 Troubled high street chain John Lewis reported its first-ever half-year loss this morning, striking a gloomy tone amid fears of a no-deal Brexit. The retail giant, which owns both John Lewis department stores and Waitrose, warned that leaving the European Union without a deal would have a “significant” impact on the group. Read more: Retail [...]
Astia launches $100m venture fund for growth companies with women at the helm February 8, 2021 Astia has launched a $100m early-stage venture fund that will invest globally in high-growth companies that have at least one woman in an executive, equity-holding position. The fund was created to help to address the disparity in funding for companies that include women in founding or executive roles. Mastercard is the fund’s main investor. Astia [...]
‘Clerical error’ wipes out Dixons Carphone’s sales growth January 21, 2020 Dixons Carphone was left red-faced today as it admitted that its sales growth figure actually represented a decline. The retailer updated the stock market on its Christmas trading figures this morning, telling investors it had enjoyed a two per cent rise in reported sales. However, six hours on Dixons Carphone reversed the number into a [...]