John Lewis issues profit warning as MD steps down January 9, 2020 John Lewis & Partners issued a profit warning today and said its managing director will leave the struggling business next month after underwhelming Christmas sales. The retail partnership warned full-year profits will be “substantially down” on last year as it revealed significant drops in both John Lewis and Waitrose revenue. Read more: Four problems new [...]
China tells Trump ‘no effort spared’ on fighting coronavirus after doctor’s death February 7, 2020 Chinese President Xi Jinping told his US counterpart that everything possible was being done to contain the spread of the coronavirus following an outcry over the death of a doctor who had warned of the impending epidemic. The death toll currently stands at just under 650 people, including Dr Li Wenliang, who had been threatened [...]
US Election: Biden’s (almost certain) win: How it happened November 6, 2020 Live updates on the US Presidential Election 2020 as Donald Trump and Joe Biden go head to head. Rolling coverage as Americans vote.
Hobbs returns to profit as retailer opens new concession stores January 7, 2020 Fashion retailer Hobbs returned to profit last year despite a “challenging retail environment” as the firm ramped up its concession store expansion plan. The womenswear brand reported a profit after tax of £4.9m compared to a loss of £4.8m the previous year when it was hit with costs related to its 2017 sale to TFG [...]
Louis Vuitton to make jewellery from the world’s second biggest diamond January 16, 2020 Louis Vuitton has entered into a partnership with Canadian corporation Lucara to make jewellery from the second largest rough diamond ever mined, in a sign of its growing ambitions in the high-end jewellery market. The Sewelô diamond, which was found in Botswana in April 2019, clocks in at 1,758 carats, second only to the legendary [...]
‘Al fresco Britain’: Government waives planning laws for on-street drinking and dining June 25, 2020 The government has set out details that will pave the way for an “al fresco Britain” this summer, allowing fairs, outdoor markets and on-street drinking and dining to take place without planning permission in England. The government has unveiled a new Business and Planning Bill, which will lift the red tape from pubs, restaurants and [...]
What does the US election mean for healthcare investors? November 12, 2020 Voting has already begun in the US presidential election with many polls predicting a win for Democrat candidate Joe Biden. A Biden victory has been perceived in many quarters as likely to be negative for the healthcare sector. However, as with everything to do with US healthcare, the reality is more complicated. The main focus [...]
Mike Ashley demands landlords link rent to sales November 17, 2019 Retail tycoon Mike Ashley, the founder of Sports Direct, has demanded that new rent deals are tied to sales across his high street empire. Ashley has reportedly asked landlords to agree to turnover rents, where up to 15 per cent of the rent payable is linked to in-store sales. Read more: Sports Direct ends two [...]
How business rates reform can thwart the retail apocalypse October 1, 2019 When businesses like Thomas Cook fail to adapt, they are smited by new technologies with leaner business models and more efficient practices. This is Joseph Schumpeter’s creative destruction in action. Yet there is something profoundly bleak about boarded-up shops or “clearance sales” posters in the windows of once thriving businesses – particularly as the demise of [...]
Seven steps to buying a home with shared ownership September 23, 2019 As part of Shared Ownership Week 2019, Eloise Robins, head of shared ownership sales at property agent JLL, gives a guide to the buying process 1. Find your home First of all, check you are eligible for the shared ownership scheme by speaking to an independent financial advisor. After that, you can start to look [...]