Staff at John Lewis to share £46m bonus pot after profits rebound by nearly 40 per cent March 10, 2022 Staff at the John Lewis Partnership will share a £46m bonus pot after the retail giant saw underlying annual profits rebound by 38 per cent. The group, which also owns upmarket supermarket chain Waitrose, said it will pay a bonus of 3% to its employees, or one-and-a-half weeks’ pay, and increase wages by 2 per [...]
British Land falls to £1.1bn loss as coronavirus pandemic hits rent payments May 27, 2020 British Land today said its full year results were hit by a slowdown in rent payments in March due to coronavirus and a subsequent fall in the value of its office and retail portfolio. The retail giant posted a loss of £1.1bn in the year to 31 March, with underlying profit for the year falling [...]
CBI: UK retailers enjoy sales boost for the first time in five months April 25, 2019 UK retail sales grew for the first time in five months in April, according to a major business group, in the latest sign that consumer spending is holding up despite ongoing political uncertainty. Read more: Retail sales jump higher than expected in March However, Easter falling later this year probably helped the figures, said the [...]
WH Smith’s airport takeover is InMotion after Dixons Travel shop deal July 8, 2021 WH Smith's airport takeover is InMotion after Dixons Travel shop deal
WH Smith hails ‘good start’ to the year despite loss of £104m November 11, 2021 Retailer WH Smith has hailed a “good start” to the new financial year amid a continued recovery in its travel stores. It came as the company reported a group pre-tax loss of £104m for the year to August, reducing its losses from £226m last year. Meanwhile, total revenues for the year dropped by 13% against [...]
City Moves: Who’s switching jobs in the Square Mile? April 13, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. LHV UK Fintech and crypto banking services provider LHV UK has bolstered its board with an independent non-executive director. Stepping onto the board at the beginning of May, Keith Butcher joins the City based firm with a raft [...]
Sainsbury’s investors back supermarket as it refuses living wage accreditation July 7, 2022 Sainsbury’s saw a minority of shareholders revolt over staff pay at its AGM on Thursday morning, with nearly 17 per cent backing a resolution for the supermarket to gain Living Wage accreditation. Some 16.7 per cent shareholders supported a resolution that urged the supermarket to become a Living Wage accredited employer. The resolution required 75 [...]
Coronavirus: UK retailers launch action plan to win back Chinese visitors March 5, 2020 Retailers have this morning launched a battle plan to tackle the impact of coronavirus on the sector, as a sharp drop in Chinese visitors has hurt UK high streets. The international retail sector has set up a new Association of International Retail, which has unveiled a recovery plan for the industry which will be put [...]
Unilever withdraws outlook after coronavirus hits sales April 23, 2020 Unilever has withdrawn its outlook for the year after reporting sales were flat in the first quarter, despite an increase in demand for hygiene and in-home food products. Underlying sales growth was flat with 0.2 per cent from volume and negative 0.2 per cent from price. Turnover increased 0.2 per cent to €12.4bn. The coronavirus [...]
Tesco, Sainsbury’s, Aldi: Who owns Britain’s biggest supermarkets after Asda takeover? June 12, 2024 British supermarkets like Tesco, Asda, Sainsburys, and Waitrose might be household names, but who is pulling their strings?