Saturday, September 19, 2020

John Lewis to scrap staff bonus and cut value of stores by £470m

John Lewis is writing down the value of its department stores by nearly half a billion pounds and will scrap the staff bonus...

John Lewis axes staff bonus for first time in over 70 years

John Lewis axed the bonus for its partners for the first time in more than 70 years as it plunged to a £635m loss...

Next raises profits forecast again as sales rise

Next has hiked its profit guidance for a second time after the recent cool weather and fewer foreign holidays for its shoppers boosted...

UK clothing retailer Next upgrades profit forecast for second time

Fashion retailer Next has upgraded its profit forecast for the second time this year after reporting more resilient sales than it expected, but still...

John Lewis could convert almost half its Oxford Street store into offices

John Lewis is considering a massive reduction in retail space at its London flagship store by converting some floors into offices. The staff-owned department...

Waitrose to close four more supermarkets, putting 124 jobs at risk

Waitrose is to close another four of its 335 supermarkets as the staff-owned group prepares for an overhaul under new management. Stores in Caldicot,...

Hut Group shares jump in value by quarter on first stock market day

Shares in the Hut Group have jumped in value by a quarter at the start of trading on their first day on the...

This time the insurance industry lost after reading the small print

When can one say a notifiable disease has occurred within a “vicinity” if the whole country is in lockdown? For fans of dense...

Klarna becomes fourth largest private fintech firm in the world

The value of “buy now pay later” finance group Klarna has soared past $10bn after investors pumped $650m into the Swedish payments company. The...

Shock and sorrow as Canada's biggest co-op sold to US private equity firm

Canada’s best-known outdoor supplies retailer has been sold to a US private equity firm, in a move which has shocked members and former...

Landlords approve restructuring of fashion retailer New Look  

Fashion retailer New Look has secured landlords’ approval for a controversial restructuring that could save thousands of jobs but has caused deep unease in...

New Look strikes deal on rent cuts and payment holidays

New Look has won approval for a three-year rent holiday on 68 of its stores and big rent reductions on hundreds of others...

Ocado supermarket JV expects full-year profit increase as sales surge

Ocado has reported a 52 per cent rise in quarterly sales in its online supermarket and expects the venture’s profits to grow this...

Britons spent less in supermarkets during eat out to help out scheme

Britons spent £155m less in supermarkets in August than in the previous month as many returned to workplaces and the government’s eat out...

Ocado hails 'successful' switch to M&S despite cancelled orders

Ocado has trumpeted a “successful switchover” from Waitrose to Marks & Spencer as customers bought more M&S-branded groceries and booked slots for the...

UK retailers look to challenge scrapping of VAT relief for overseas visitors

UK retailers, tourism businesses and airport operators are seeking legal advice after the “body blow” of a government decision to scrap value added...

UK retailers hit by first weekly fall in shoppers since Covid lockdown

UK shopping destinations have recorded the first weekly drop in visitor numbers since lockdown in late April, as the end of the summer...

Union lauds 'amazing victory' after Arcadia redundancy payment apology

The owner of Topshop and Topman has backed down and agreed to pay full salaries to head office staff facing redundancy – three...

Coughed on, spat at: UK shop workers fear asking customers to wear masks

Seventeen-year-old Hayley Sterry has been spat at, coughed on and verbally abused while working at the checkouts of her local Sainsbury’s throughout the...

Arcadia redundancies: retail group announces full payouts in reversal

Sir Philip Green’s Arcadia fashion group has performed a U-turn and agreed to pay full salaries for head office staff facing redundancy. It comes...

After six months of turmoil, John Lewis can only hope for better

It has been a torrid year for middle-class favourite John Lewis, and this week the retailer, which is in the midst of a...

The pandemic purse: services suffer while Australians spend up on home-cooking and liquor

Australians are splurging on electronics, home cooking and perhaps unsurprisingly, liquor, during the coronavirus pandemic.With overseas holidays, opportunities to go out, and the...

Sir Terence Conran obituary

Terence Conran, who has died aged 88, did more than anyone to enhance material life in Britain during the second half of the...

New Look to warn it could collapse without fresh rent cuts

New Look is set for another clash with its landlords next week as it prepares to ask for further big cuts in rents...

Billion-dollar Lululemon under fire for promoting 'resist capitalism' event

The aspirational athletic-wear maker Lululemon, famous for its expensive leggings sported by young urban professionals, is facing vigorous criticism for promoting a yoga...

Pizza Hut to close 29 restaurants, putting 450 jobs at risk

Pizza Express – 1,100 jobs7 September: The restaurant chain confirms the closure of 73 restaurants as part of a rescue restructure deal. Costa Coffee...

UK's economic recovery from Covid-19 crisis continues

Britain’s recovery from the coronavirus pandemic continued in July as shops reopened and manufacturing activity resumed but the economy has recovered little more...

UK hotels and restaurants hit by wave of cancellations

Hotels and restaurants have been hit by a wave of cancellations as new coronavirus restrictions throw the country’s Christmas celebrations into doubt and...

Rio Tinto chair may want to rethink position over heritage site destruction | Nils...

Here’s a rule of thumb for boards in a crisis: if your company’s reputation is still being shredded three weeks after you tried...

Anne Mohyuddin obituary

My mother, Anne Mohyuddin, who has died aged 87, was a stalwart of health-food retailing in the north-west of England. Her business, the...