Tag Archives: Retail and Consumer industry

Royal Mail is pressuring regulators to approve plans for less frequent letter deliveries, as the company scrambles to fend off a £3.1bn takeover bid from a Czech billionaire. International Distributions Services (IDS), Royal Mail’s parent company, said foot-dragging by Ofcom had “held back” plans to modernise the company. Keith Williams, …

Apple has reportedly suspended production of vegan phone cases it started selling less than a year ago. The tech giant is said to have stopped making its FineWoven cases and watch straps following complaints that the £59 cases would become easily scratched and worn out. Apple introduced the material, a …

In a further headache, Royal Mail risks another clash with unions after bruising strikes last year that cost the company £1m a day. The changes are expected to cut the number of delivery routes by up to 9,000 – a move that is expected to lead to around 1,000 redundancies. …

“With an extensive and valuable property portfolio, we have an important role to play in ensuring it continues delivering value for the long term benefit of customers and Partners for generations to come.” John Lewis wants to build 10,000 rental homes by 2030 and wants 40pc of profits to come …

Shoppers returning unwanted Christmas gifts face an unexpected financial hit after a string of high street stores started charging a fee on items sent back.  Retailers including hiking equipment seller Mountain Warehouse and health and beauty website owner The Hut Group have changed their returns policies to include charges.  It …

Talks with Bantry Bay are understood to be at an advanced stage with Superdry hopeful that a deal could be agreed as early as this week, City sources added. No agreement has been signed and a deal could yet fall apart, they added.  Superdry operates 740 branded stores across 61 …

Vesa, for its part, has made some platitudes about how Sainsbury’s “strong brand” and well-located stores in the more prosperous south-east make it “an attractive long-term investment opportunity”. But it seems unlikely that the tycoon is happy to remain a passive shareholder, and he continues to play his cards close …

The Government has written down the value of the Post Office to zero after the state-owned chain was hit by the postmasters scandal. In its annual report, the Department for Business said the value of its holding in Post Office Ltd had plummeted from £145m to “nil” in the year …

A billionaire investor known as the “Czech sphinx” has launched a raid on Sainsbury’s – sparking speculation that Britain’s second-biggest supermarket could be targeted in a deal to take it private. Daniel Kretinsky’s firm Vesa Equity Investments has increased its stake in the grocer to almost 10pc by buying shares …

A second worker at a separate office in London said that after 36 years of postal work, 2020 had been “the worst so far”. “It’s not in their interest to make sure people get their birthday cards, Christmas cards, and hospital appointments compared to tracked items,” he said. “But these …