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A renaissance for British chocolate companies: Hotel Chocolat floats

Thursday 05 May 2016 - Posted by Talya Misiri

Contrary to predictions, Hotel Chocolat has revealed its £167m floatation. The chocolatier’s Founder Angus Thirwell noted that the companies recent success signals a “renaissance of British chocolate companies”, as the recent sale of Thorntons and Cadbury “left a bad taste” in investors’ mouths. Thirwell and Co-Founder Peter Harris will share a £40m wage as a result of the company’s listing on ...


The five super strengths of supermarket fashion

Thursday 05 May 2016 - Posted by Katie Smith

Last month German discount grocer Lidl announced the impending arrival of its first-ever activewear line, a move so evenly tempered with practical sense and commercial opportunism that to many, it came as no surprise. After all, activewear is hugely popular and Lidl is among the greats in taking hugely popular things and making them available at industry-beating prices. But there’s a subtext he...


Supermarkets waiting longer to pay wholesalers

Thursday 05 May 2016 - Posted by Philip Gallagher

A new report has revealed that wholesalers have been waiting even longer for payment from UK supermarkets. The issue of retailers failing to pay suppliers on time has long been a contentious one. It was a hugely incriminating factor in the investigation relating to the 2014 Tesco accounting scandal. The supermarket accepted a report from the Grocery Code Adjudicator that found that not only was...


Like-for-like sales make a healthy quarter for Morrisons

Thursday 05 May 2016 - Posted by Philip Gallagher

Morrisons enjoyed rising like-for-like sales this quarter, giving credence to CEO David Potts’ efforts to reorganise and rebuild the grocer. Excluding fuel, the 13 weeks to May 1 saw like-for-like sales rise 0.7%, though within the same category total sales were down by 1.8%. The chain claimed that this reflected the impact of store closures and the loss of the M Local chain, which was sold in ...


MPs join Serious Fraud Office in BHS investigations

Thursday 05 May 2016 - Posted by Talya Misiri

MPs investigating the fall of BHS have said that they will be collaborating with the Serious Fraud Office and insolvency regulators in their inquiries. Frank Field, Chairman of the Work and Pensions Committee, told the Head of the Serious Fraud Office David Green that MPs wanted to “shed light on what has happened to BHS and identify any regulatory, supervisory or legislative deficiencies” in t...


Shoppers save 40% on groceries in 2016

Thursday 05 May 2016 - Posted by Talya Misiri

Grocery necessities and weekly favourites have dropped in price by almost 40% year-on-year according to findings by The shopping comparison site’s Groceries Tracker monitors the price of the same 35 most commonly bought products each month and has found a steady fall in prices in the second quarter. The study found that a basket of 35 popular grocery products continued to d...


Farfetch raises some £75m to fund expansion in Asia

Thursday 05 May 2016 - Posted by Veebs Sabharwal

Farfetch has raised $110m (£75.6m) in its latest funding round to help with expansion in Asia and to build on its properietary technology platform. This round of investment follows a very strong growth trajectory for Farfetch, which grew total transaction value more than 70% in 2015 to over US$500m, and is led by investors Temasek, IDG Capital Partners and Eurazeo. The luxury pureplay is lookin...


Man behind B&Q petition calls for others to follow example

Wednesday 04 May 2016 - Posted by Philip Gallagher

The anonymous B&Q store manager behind the petition against the home retailer’s benefit cuts has called for more workers to follow suit and expose companies they feel are taking advantage of the National Living Wage. Under the pseudonym ‘Kevin Smith’, he began a petition against B&Q after the DIY specialist began introducing cuts to employee benefits in riposte to the National Living...


PhotoBox CEO Stan Laurent seeks a new challenge

Wednesday 04 May 2016 - Posted by Talya Misiri

CEO of PhotoBox Group Stan Laurent will be retiring from his role after a decade at the helm. Having joined the Group in July 2006, Laurent’s leadership has been instrumental in crafting the PhotoBox Group into the digital service for personalised gifts that it is today. The CEO has led the originally £13m business into heights of close to £300m. The revenue success has been significantly aided...


Sainsbury's profits slide in aggressive market

Wednesday 04 May 2016 - Posted by Veebs Sabharwal

Sainsbury's has posted its second year of profit decline, having sacrificed margins to keep market share as it tries to keep afloat in an intensifying pricing market. Underlying profits fell to £587m for the year to 12 March, down from £681m in the previous year while pre-tax profits were £548m, compared to last year's £72m loss. Sainsbury’s has had little choice but to shift to a medium-low pr...

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