Burberry to stop burning unsold stock and ditch fur from collections September 6, 2018 Burberry has announced it will no longer destroy unsold items after widespread outrage from investors and campaigners to the practice. The luxury fashion house has also confirmed it will no longer use real animal fur in its collections, starting with new creative director Riccardo Tisci's debut show this month. Following the revelation in July that Burberry [...]
Asda ends price guarantee scheme as it eyes lower prices after Sainsbury’s merger September 6, 2018 Asda has joined the rest of the big four in ending a price guarantee initiative, saying it is "less relevant" to customers. The tool will be available until 3 October this year, and customers will still be able to redeem their vouchers for 28 days from the date they receive them. The grocer's chief customer [...]
Marston’s appoints Lazard’s UK CEO as its new chairman September 6, 2018 The UK boss of financial adviser Lazard is headed to the pub with a new job as chairman of Marston's. William Rucker will take on the position from the beginning of next month, taking over from interim chair and Tesco veteran Carolyn Bradley. He has been chief executive of Lazard in the UK since 2004. He has previously [...]
Thameslink owner Go-Ahead Group’s profits climb despite London Midland franchise loss September 6, 2018 Govia Thameslink owner Go-Ahead Group reported higher profits this morning despite losing a franchise and dealing with timetable chaos. Shares in the company jumped 9.4 per cent in early trading as management signalled that performance for next year would be "robust". The figures Revenue for the year to 30 June fell 0.6 per cent to [...]
John Lewis have it right: changing tastes show retail’s centre cannot hold September 5, 2018 If you look past the shiny new signage on the front of the John Lewis & Partners flagship Oxford Street store, there is a much more interesting change going on inside. The retailer’s new name is not the only way it is signalling pride in its employees. Partners are becoming more visible throughout stores. “While [...]
Philip Day’s Edinburgh Woollen Mill Group ends business with House of Fraser September 5, 2018 The Edinburgh Woollen Mill Group has ended business with House of Fraser due to lack of confidence in the business's future. The company, owned by retail tycoon Philip Day, said it had not been able to agree future trading terms with new owners Sports direct. Concessions for EWM's brands including Jaeger and Jacques Vert closed [...]
Everyman revenues climb higher as cinema chain plots expansion September 5, 2018 Boutique cinema chain Everyman reported soaring revenues this morning as it rolls out to new sites around the UK. The company will open a cinema at the City's Broadgate development next year, making it just the second cinema in the Square Mile after the Barbican. The figures Revenue for the six months to 5 July [...]
M Restaurants founder to lead Gaucho as new owners take control September 5, 2018 Administrators have confirmed the sale of Gaucho to a pair of banking groups, and the appointment of M Restaurants founder Martin Williams to lead the business. As CityAM has previously revealed, Investec and SC Lowy bought out the company's debt last month with a view to a takeover. Today administrators at Deloitte said Gaucho had been sold [...]
London luxury goods repair service The Restory among startups picked for Farfetch incubator September 4, 2018 A London-based start-up which repairs luxury fashion items is among the businesses selected for Farfetch's retail technology incubator. The Restory, which restores designer items, is one of 11 start-ups selected for the 12-week Dream Assembly programme. Farfetch plans to support fashion tech start-ups with talks, mentoring and networking opportunities. "The companies we have selected for the first Dream [...]
