Morrisons has officially ceased trading as a publicly listed company on the stock market after 54 years. The £7.1bn takeover by US private equity firm Clayton Dubilier & Rice (CD&R) was rubber-stamped by the High Court on Monday (25 October) following shareholders voting in favour of the deal earlier this month. Shares...
Chancellor Rishi Sunak announces ‘radical reform’ to beer and sparkling wine taxes. British finance minister Rishi Sunak announced what he called the biggest cut in taxes on beer in decades and the most radical simplification of alcohol duties in over a century in a boost to pubs as they struggle to...
Virgin Wines increased its group revenue by 30% to £73.6 million in the year to 30 June after it benefited from strong customer demand and increased investment in customer acquisition. The retailer said the growth was consistent across all sales channels and business segments as repeat direct-to-consumer revenues climbed by 31.5%...
The Hut Group saw its group revenues increase by 38% on a constant currency basis to £507.8 million in its third quarter. In the three months to 30 September, THG beauty sales were particularly strong with an uplift of 61.1% at constant currency, while sales from businesses in the nutrition category...
House of Vans London is set to re-open its doors to the public on 4th November 2021, after a 15-month hiatus due to the pandemic. The re-opening kicks off with a Ben Raemers Foundation Charity event in partnership with VICE. The Ben Raemers Foundation aims to end the stigma that often...
PVH has announced that its Tommy Hilfiger brand has teamed up with Timberland to launch a joint collection for autumn 2021. In a statement, the company said the Tommy X Timberland collection aims to combine the classic American DNA of Tommy Hilfiger with Timberland’s outdoor and work aesthetic. The first drop of...
Wickes has said it performed well in its third quarter despite sales in its core category moderating due to tough comparatives in the same period in 2020. In the 13 weeks to 25 September, like-for-like sales were down 1.6% on the third quarter of the previous year, but up 16.3% on...
Footfall across UK retail destinations dropped by 1.5% last week from the previous seven day period as high street footfall declined by 3.6%. In contrast, the number of visits to retail parks and shopping centres rose marginally with respective increases of 0.9% and 0.4%. According to the figures from retail footfall specialist...
Hugo Boss has appointed Judith Sun as managing director for its Greater China business. In her new position, she will be responsible for leading the business and implementing the brand’s strategic vision locally. This will include developing the company’s own retail, digital and wholesale business further in the market. Hugo Boss said...
PayPal has denied pursuing the acquisition of social media platform Pinterest in a deal reportedly worth $45 billion. It was first reported last week by Bloomberg that the payment firm had offered $70 per share, mostly in stock for the site. The acquisition would have been the biggest deal for a...
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