The City of London is bracing itself for a raft of UK retail collapses in 2018 January 12, 2018 Retailers painted a gloomy picture of the high street this week as several big names failed to cash in on the Christmas shopping season. Gloomy financial updates from household favourites such as Marks and Spencer (M&S), Debenhams, and House of Fraser prompted analysts to signal several retail collapses may be on the cards in 2018. [...]
M&S’ Brexit: Marks and Spencer to close its Paris flagship store October 26, 2016 Marks and Spencer is planning to shut its flagship store in Paris, according to reports. The British retailer wants to scale back its international operations to save on costs, Bloomberg has reported. Read more: MPs call for debate on "loopholes" in national living wage legislation The decision will be formally announced by chief executive Steve Rowe [...]
TSB crisis may have sting in the tail, Andy Hornby’s near-miss with the Sainsbury’s-Asda merger and the FA’s trophy buyer May 4, 2018 The System’s Broken. Try Surrendering Bonuses. TSB customers who found themselves locked out of their accounts for parts of the last fortnight might have devised less polite acronyms for the custodian of their savings. Conspiracy theorists about recent banking history might also trace the origins of the current meltdown to an ill-fated decision in 2010 [...]
Aldi knocks Waitrose off supermarket top spot while shoppers turn to Iceland and Ocado for online groceries February 12, 2018 Aldi has knocked Waitrose off the top spot as the UK’s favourite supermarket for in-store shopping. Customers rated their experience at the budget retailer as best in Which?’s annual survey. Last year’s most popular supermarket Waitrose fell to fourth-highest, below Marks & Spencer and Lidl. Respondents rated Aldi’s value for money very highly, and were [...]
No end in sight for high street’s woes as stalwarts like John Lewis struggle March 9, 2018 The UK high street was dealt another blow yesterday as one of the country’s biggest household names posted a sharp drop in profits. Profits at the John Lewis Partnership – which comprises John Lewis and Waitrose – fell 77 per cent to £103.9m in 2017, forcing the retailer to cut its staff bonus to its [...]
Primark hires former Zara Basic head Paula Dumont Lopez in bid to move up the clothing retailer ranks December 23, 2017 Primark has pulled in Paula Dumont Lopez, a former head of product at Zara Basic, as its new womenswear chief. The budget high street chain, which currently lags Marks and Spencer (M&S) and Next as the UK’s third largest clothing retailer, is to begin in January next year. Read more: Next’s sales return to growth [...]
Last Week in the City: Stiff competition in funerals? June 1, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (28 May to 1 June 2018). Shares in listed funeral director Dignity slumped after the UK Competition and Markets Authority (CMA) said it will examine the pre-paid funeral sector, a move that could see tougher regulation. [...]
M&S pay row: Marks and Spencer faces £100m bill for pension changes and payments to cushion pay cut pain October 14, 2016 Marks and Spencer is making a payout of at least £100m to its employees to cushion the pain of the pay cuts and as part of pension changes it is introducing for shop staff. The retailer is cutting benefits to shop staff such as premium pay on Sunday and Bank Holidays following the introduction of the [...]
Last Week in the City: England has an 8.5% chance of winning the World Cup May 18, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (14 to 18 May 2018). UBS has used its City analysts’ predictive firepower to try and work out the winner of the upcoming World Cup in Russia – and England came surprisingly high in its league [...]
We meet Annabel Karmel, the celebrity cook who leaves children hungry for more May 14, 2018 Annabel Karmel comes bounding into the room like a bundle of sunshine. With her yellow dress and immaculate makeup, she seems a world apart from the drab Bloomsbury bar where we meet. For millions of parents, Karmel is a household name, with major supermarkets stocking her baby and toddler food. It was her first book, [...]