Amazon workers told to work overtime to meet coronavirus demand March 17, 2020 Workers at Amazon’s warehouses in the UK are being told to work overtime as the company meets the surge in demand amid the coronavirus outbreak. The GMB union said workers across at least four different sites were informed that they had to work “compulsory overtime” from Monday, according to the BBC. Amazon will also hire [...]
London Stock Exchange enters talks to buy stake in Primarybid June 30, 2020 London technology startup Primarybid is in talks to sell a chunk of its business to Britain’s stock exchange, following a successful partnership between the pair. London Stock Exchange Group (LSEG), the parent firm behind the London Stock Exchange, has entered detailed discussions with Primarybid about an investment, Sky News reported. Primarybid is an everyday investing [...]
Ocado’s warehouse robots help it boost third quarter revenue September 18, 2018 Online grocer Ocado today revealed rocketing revenue in its third quarter, driven by a growth in orders and improved capacity at its robotic warehouses. The figures It grew revenue by 11.5 per cent to £348.6m in revenue over the three months to the start of September. Read more: Asda to end price guarantee scheme in [...]
Ocado’s warehouse robots help it boost third quarter revenue September 18, 2018 Online grocer Ocado today revealed rocketing revenue in its third quarter, driven by a growth in orders and improved capacity at its robotic warehouses. The figures It grew revenue by 11.5 per cent to £348.6m in revenue over the three months to the start of September. Read more: Asda to end price guarantee scheme in [...]
A tie-up with Ocado could signal a long overdue step into food delivery for M&S January 28, 2019 If 2018 was the year of profit warnings for retailers, 2019 looks set to be the year of closures. Last week it was the turn of Paperchase to be reportedly mulling a possible sale and store closures, joining the likes of HMV and French Connection in search for a rescue bidder. It is within such [...]
Card Factory opens new distribution centre to cope with surge in online demand May 6, 2020 Card Factory has opened a new distribution centre to keep up with a surge in online orders during the coronavirus lockdown while maintaining safety measures for warehouse staff. The retailer said the Card Factory website saw sales soar 267.5 per cent during lockdown, while its Getting Personal brand reported a 57.5 per cent jump in [...]
DFS to cut jobs at Dwell and Sofa Workshop as revenue falls £271m July 14, 2020 Furniture firm DFS has announced that it will cut jobs as part of a restructuring programme after the coronavirus pandemic caused revenue to drop £271m year-on-year to £725m. The company said that the cuts would take place at subsidiaries Dwell and Sofa Workshop, and were necessary in order to maintain DFS’ “future competitiveness”. The restructurings [...]
Putting the ‘great’ back into Great British brands December 3, 2020 UK businesses are failing to realise a return on investment from their biggest asset to help drive sales growth: brands. Unless urgent action is taken, there will be irreversible damage to the ability of British businesses to compete on a global scale. The declining brand values of British companies are reflected in 2020’s BrandZ Top [...]
Audit watchdog closes investigation into Tesco accounting scandal June 8, 2020 The Financial Reporting Council (FRC) has announced the closure of its remaining investigation into accountants at Tesco, ending a six-year probe linked to an overstatement of profit by the supermarket chain. The FRC said this morning it was closing an investigation into Tesco’s announcement in 2014 that it had overstated profits by £263m, a figure [...]
Marks & Spencer investors suffer dividend blow as retailer nets food delivery service in £750m Ocado venture February 27, 2019 Shareholders hammered Marks & Spencer’s shares this morning as it became clear the retailer plans to hit up investors to fund a £750m food delivery venture with Ocado. M&S’s stock dropped 9.2 per cent to 303p as it confirmed plans to raise £600m through a rights issue as well as knocking down shareholders’ dividend. The [...]