Prime

From bookstore to global giant: The history of Amazon

In the history of commerce and technology, few companies have been as revolutionary as Amazon. What started as an online bookstore has evolved into a global commerce giant reshaping not only the retail landscape but the habits of humans themselves. From its humble beginnings in a garage to its current…

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Today’s news in brief-29/1/24

The UK experienced a significant increase in business administrations, with the retail sector being the hardest hit, accounting for 19% of the total administrations. This information comes from a study conducted by full-service law firm Shakespeare Martineau. The year saw a total of 1,641 businesses filing for administration, a 22%…

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Iceland boss backs Labour government

Richard Walker, managing director of Iceland and former Tory donor, has publicly backed Keir Starmer to be the next Prime Minister. Walker told The Guardian that the Labour leader understands how the cost of living crisis has put an “unbearable strain” on families. He wrote in the newspaper that Starmer…

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BRC launches ‘Manifesto for Retail’ ahead of General Election

The British Retail Consortium (BRC) has announced the launch of its “Manifesto for Retail” ahead of the anticipated General Election this year. The organisation has laid out a vision with three main aims, a more coordinated approach to tax and regulation, jobs and Net Zero and the circular economy. On…

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Morrisons owner appoints ex-Tesco CEO Dave Lewis as operating advisor

Morrisons owner Clayton, Dubilier and Rice (CD&R) has today (15 January) announced the appointment of Sir Dave Lewis as an operating advisor to CD&R funds.  Lewis will draw on his more than 30 years of leadership experience within the global consumer goods and retail sectors to support the firm in…

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Today’s news in brief-2/1/24

Central Group is reportedly considering increasing its stake in luxury department store Selfridges as co-owner Sigma faces financial issues. Central recently became the largest shareholder, converting a £317m loan into equity. Sigma’s Prime Selection unit filed for insolvency, possibly leading to liquidation of assets worth over €19bn, impacting its stake…

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Central Group eyes increased stake in Selfridges

Central Group is reportedly interested in increasing its control of luxury department store Selfridges as its co-owner Sigma faces financial difficulty, according to The Sunday Times.   The Thai conglomerate is looking to increase its stake after Sigma’s Prime Selection unit, the division that co-acquired Selfridges in a £4bn deal last…

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SPAR appoints three new directors

SPAR UK Ltd has announced three new director appointments at the Central Office in Harrow.  Trudy Hills will be trading director – grocery, Simon Mitchell has been promoted to trading director – BWS, fresh and frozen and further bolstering the Central Office team, Jamie Seymour has advanced to SPAR brand…

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Today’s news in brief-27/10/23

Tesco has appointed Matthew Barnes as the new UK CEO, effective March 2024, succeeding Jason Tarry, who will step down after 33 years with the company. Barnes, with extensive experience at Aldi, previously served as UK&I CEO and co-head of Aldi Sud’s executive board. Under Tarry’s leadership, Tesco underwent a…

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Amazon Q3 net sales rise 13% to $143.1bn

Amazon has revealed that its net sales rose 13% to $143.1bn (£118bn) for the three months ended 30 September 2023, up from $127.1bn (£104.9bn) in the same period in 2022. The company’s net sales were also up 11% excluding the $1.4bn (£1.2bn) favourable impact from year-over-year changes in foreign exchange.…

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