Author Archives: Hannah Mulea

Topshop boss Green to close 23 stores as problems escalate

Topshop tycoon Sir Philip Green plans to close 23 stores, putting 520 jobs under threat, as part of a rescue plan. Under the proposal, Burton, Dorothy Perkins and Topshop stores will close and rents will be cut at another 194 stores at the Arcadia group. However, the pensions regulator has doubts that the deal will […]

Gas firm hit by record penalty over consumer supply failures

A company which left customers without gas for months has received the largest-ever enforcement action, of £44m, from the energy regulator. Ofgem said Cadent also had no records of 775 high-rise blocks of flats. That discovery was in part prompted by an information request from a council in the wake of the Grenfell Tower tragedy. […]

M&S sales and profits fall as shakeup continues

Marks & Spencer has reported a fall in both sales and profits as it continues to implement a major turnaround programme. Pre-tax profits were down by nearly 10% in the year to 31 March, at £523.2m. Like-for-like sales, which strip out the impact of new stores, were down by 2.9% for the group as a […]

New report reveals how to make money from membership economics

New research from international growth strategy experts Manifesto Growth Architects has revealed that 70% of businesses believe that membership and subscription models hold the key to future commercial growth and expansion, yet very few are harnessing its potential. With Disney announcing details of its new streaming service to rival Netflix, the Financial Times reporting one million paying readers a […]

TalkTalk data breach customer details found online

TalkTalk failed to inform 4,545 customers that their personal information, including bank account details, were stolen as part of the 2015 data breach. Viewers contacted BBC Watchdog Live about concerns that their details had been breached by TalkTalk. But the company had told them that their details were not comprised. “The customer data referred to […]

RyanAir cautious on Outlook at profits slide

Ryanair’s profits fell by nearly a third last year to €1bn (£880m) as fuel costs rose and fares fell. Europe’s biggest discount airline added that profits could be lower this year as fares continue to fall. For the current financial year, the carrier said it was ‘cautious’ on pricing and had ‘zero’ visibility for the […]

eCommerce delivers no value 30% of the time says retailers

Retailers in the UK expect 30% of all their eCommerce work to give them back no value, according to a new study commissioned by digital commerce experts Greenlight Commerce. The study, which questioned 100 UK based eCommerce decision makers within the retail sector, found 99% of retailers are facing some sort of eCommerce challenge, with the […]

Thomas Cook shares ‘worthless’ says Citigroup

Shares in Thomas Cook have plunged 30% after analysts at a bank said the travel firm’s shares were ‘worthless’. Thomas Cook’s tour operations and airline are worth £738m, but its debt is around the same “and implies zero equity value”, according to Citigroup. Citigroup’s damning conclusion comes a day after Thomas Cook issued its third profit […]

Amazon makes huge investment in Deliveroo

Online giant Amazon has announced a big investment in food courier Deliveroo. The exact figure was not given, but Amazon is the biggest investor in Deliveroo’s latest round of fund raising, which in total raised $575m (£450m). Deliveroo said it would use the money for international expansion, improving its service and to grow its delivery-only kitchens […]