Shareholder rebellion to hit Ocado scheme over concerns of £100m windfall for boss May 2, 2022 Ocado investors are reportedly planning to turn their nose up at an extension of a share reward scheme which would see the retailer’s boss handed £100m. Two advisory groups, the Institutional Shareholder Service and Glass Lewis, have recommended investors to reject the proposal to lengthen the so-called “valuation creation plan” at its annual general meeting [...]
Perfect storm of rising costs to hit retail return February 8, 2022 Total retail sales jumped 7.5 per cent during January compared to the same month in 2020. However, retail bosses have warned consumers and firms face a challenging few months ahead with a perfect storm of rising costs. Shoppers were less eager to buy non-food items in stores over the three months to January, compared to [...]
UK poised to have officially dodged recession last year as outlook brightens March 26, 2023 Britain is poised to have officially swerved a recession last year, the country’s statistics agency is expected to confirm this week. New final numbers outlining economic growth in the final three months of 2022 are likely to hold steady at zero per cent, meaning the UK narrowly dodged the official recession definition of two consecutive [...]
THG boss Matt Moulding slams ‘numerous’ proposals from suitors as unacceptable April 21, 2022 E-commerce beauty firm THG has dubbed a number of approaches from potential bidders as “unacceptable.” There had been speculation that the online retailer – which owns brands including Cult Beauty and Lookfantastic – could be prime for a takeover, after experiencing a turbulent year. In a trading update, CEO Matthew Moulding said the board had [...]
These Are The Companies Offering Perks To Offset Cost Of Living Crisis November 21, 2022 It is no secret that it has been a tough year for workers. The cost of living looks set to get worse as rising prices for groceries and basic services, along with the huge cost of energy are biting deeply into disposable income. The Office of National Statistics (ONS) assessed web-scraped supermarket data for 30 [...]
Is the future of banking online only? NatWest and Lloyds to axe 81 branches, taking this year’s total to 213. Here’s a list of closures: March 31, 2023 Two of the UK’s biggest banking groups have announced plans to make big cuts to their branch networks this year, cutting more than 80 sites from around the country. Lloyds Group and NatWest Group have said that the sites in England, Scotland, Wales and the Isle of Man will close between July and November this [...]
‘Blind eye’: Former John Lewis boss on CBI and Tesco scandals May 24, 2023 The former boss of John Lewis has spoken out on the scandals engulfing the CBI and Tesco suggesting that senior staff may have been “turning a blind eye” to bad behaviour. Andy Street, Conservative mayor of the West Midlands, spoke at a Q&A with InHouse where he discussed issues at the lobbying group, the Confederation [...]
We need to fill the gap left by the demise of Tech Nation and quickly February 3, 2023 Tech Nation was a body with the explicit mission of driving tech investment and talent into the UK, but the government has pulled funding only days after saying they want the UK to be the next ’Silicon Valley’, writes Nigel Vaz.
Next sales up as shoppers flock back to high street but firm warns of slowdown as inflation hits August 4, 2022 Next has shared elevated quarterly sales, suggesting that warm weather and the closure of high street rivals has driven shoppers into stores. In a trading update on Thursday, second quarter full price sales were boosted five per cent versus last year, some £50m ahead of the clothing firm’s previous guidance. Next attributed this to a [...]
Competition watchdog brands Amazon as ‘grocery retailer’ enforcing UK supplier protection February 9, 2022 UK competition watchdog has branded Amazon as a “grocery retailer” after the ecommerce giant announced it would be increasing its activity in the sector, with plans to launch 15 new Amazon Fresh stores in London. The Competition and Markets Authority’s (CMA) decision is aimed at protecting suppliers and ensuring fairer payment terms, forcing Amazon, as [...]