Frasers Group makes cash offer for Australia’s My Sale August 17, 2022 Sports Direct owner Frasers Group has made a cash offer to snag the Australian e-commerce site MySale, after becoming its largest shareholder. Mike Ashley’s retail emporium announced the offer for a 100 per cent stake in the firm on Wednesday morning, at a price of 2p per share. Frasers presently holds a 28.7 per cent [...]
Supermarkets ‘implored’ to lower forecourt fuel prices after steady wholesale drop November 28, 2022 Motoring group the RAC has urged supermarkets for not lowering prices in forecourts despite wholesale fuel going down in price. The car-owners’ organisation appealed to the big four – Tesco, Sainsbury’s, Morrisons and Asda to make consumers’ lives easier amid the cost of living crisis. In new figures released, the RAC showed wholesale fuel prices [...]
What next for Waitrose? Supermarket quits Planet Organic talks after John Lewis fiasco March 29, 2023 Waitrose has pulled out of secret talks to acquire a stake in rival health supermarket Planet Organic. The high-end supermarket, which is part of the John Lewis Partnership, ceased discussions late last week about a possible agreement, according to reports first published in Sky News, Sources told the outlet that the deal would have meant [...]
Waitrose to ramp up convenience store expansion with 100 new sites August 21, 2024 The premium grocer Waitrose will expand its store portfolio by around a third over the next three years in one of its “biggest periods of expansion” as it ramps up investment into ‘Little Waitrose’ convenience shops. The Berkshire-headquartered company will invest over £1bn in a project to open 100 new stores and revamp a further [...]
Pendragon reports strong first half results but rate hikes spark concern July 20, 2023 Pendragon said this morning it expects pretax profits to rise nine per cent for the first half of 2023, on the back of a strong performance from its motor division. In a trading update, the Nottingham-based motor dealership – which is behind brands including Evans Halshaw and Stratstone – said it expects underlying profit before [...]
John Lewis blames ‘pain of inflation’ for £234m loss and admits it will not be paying partner bonuses March 16, 2023 John Lewis Partnership has blamed shoppers feeling the “pain of inflation” and a write down in the value of its Waitrose stores for its second year of losses in a row. For the year ending January, the middle class favourite, which owns John Lewis department stores and grocery chain Waitrose, posted a loss of £234m [...]
M&S to speed up plans to close 1 in 4 larger clothing stores October 12, 2022 Marks & Spencer will accelerate its plans to slash the number of its larger stores that sell clothing and homeware products. In an update to investors on Wednesday, the supermarket revealed it would shutter more than one in four of its so-called full-line stores within three years rather than five. Plans also include the opening [...]
Halfords warns cost pressures could lead to road safety risks September 7, 2022 Halfords share price boomed more than 10 per cent on Wednesday morning, following a trading update. Halfords saw like for like sales dip 1.9 per cent compared to the year before, for the 20-week period to 19 August 2022. Sales last year benefitted from the end of the Covid lockdown in the UK. The motoring [...]
The Notebook: Does the Gamestop and AMC surge signal a memestock comeback? May 28, 2024 Max Rofagha, CEO and founder of Finimize, takes the pen to talk memestocks, the FTSE 100, and how ChatGPT became a flirt.
High power prices boost Engie earnings in first quarter May 11, 2023 French energy company Engie on Thursday reported a rise in first-quarter earnings, buoyed by high European power prices.