B2B Engagement

Uber warns it may not make a profit in IPO documents

Uber, the ride-sharing app and delivery business, has warned it “may not achieve profitability” as it finally released details of its plan to float. It will list its shares on the New York Stock Exchange, in a deal likely to value the US firm at about $100bn (£76.5bn). Uber said that its most recent annual […]

Debenhams administration deal is a national scandal says Sports Direct

Mike Ashley’s Sports Direct has said that the takeover of Debenhams by its lenders as part of an administration process is “nothing short of a national scandal”. The store chain rejected two last-ditch takeover offers from Sports Direct. Under Tuesday’s deal, all stores will remain open for now, although some have been earmarked for closure. […]

Tesco profits jump ‘in uncertain market’

Profits at Tesco have jumped 28% in what the UK’s biggest supermarket chain described as an “uncertain” market. Chief executive Dave Lewis said the group was on track to meet the “vast majority” of the turnaround goals he set when he was appointed four years ago after an accounting scandal. The group said its performance […]

Debenhams on brink of administration

Debenhams is on the brink of administration after it rejected a new offer from Sports Direct, made in the early hours of Tuesday, to pump £200m into the department store. Its shares were then suspended before Tuesday’s trading, at its own request. Debenhams is likely to go into pre-pack administration, under which shops would continue […]

Boots warns of possible store closures

The US owner of pharmacy chain Boots has warned of possible store closures in the UK as it tries to cut costs. Walgreens Boots Alliance said it would take “decisive steps” to reduce costs as part of a company-wide “significant restructuring”. The move comes after the chain said it had suffered its “most difficult quarter” since the […]

Institute of Leadership & Management (ILM)

Saga shares hit record low on profit alert

Shares in Saga, the over-50s insurance and holiday specialist, dived almost 40% to hit a record low of 65p after it reported lower profits and warned that earnings would be hit next year. A “fundamental” rethink will see Saga make changes to its insurance business that are set to cut profit margins. Saga, which has just […]

Sainsbury’s and Asda offer to sell supermarkets to merge

Sainsbury’s and Asda have said they would sell between 125 and 150 supermarkets and a number of convenience stores if allowed to merge. The supermarket giants would also sell some petrol stations, while Sainsbury’s has already said it would cap fuel profits for five years. Earlier this week, the supermarkets also vowed £1bn in price cuts. […]