Katie Bickerstaffe, co-CEO of British apparel and food store Marks & Spencer, is quitting the firm and giving over sole control to Stuart Machin, Sky News reported Wednesday. According to the article, Bickerstaffe will quit the firm this year and join European home improvement retailer Kingfisher as a non-executive director. Katie Bickerstaffe and Stuart Machin […]
Yum Restaurants India sold its whole 4.4 per cent share in Devyani International on Wednesday for Rs 871 crore in an open market transaction. Devyani International, the Quick Service Restaurant (QSR) operator, is a franchisee of Yum Brands, which runs KFC, Pizza Hut, and Taco Bell in India. SBI Mutual Fund (MF), Axis MF, Franklin […]
Sneakers are becoming increasingly popular in India, with a revenue forecast of USD 2.80 billion for the fiscal year of 2024. This is according to a recent report by Statista, which highlights the growing trend of sneakers being seen as more than just footwear. This revelation underscores the expanding allure of sneakers, which have transcended […]
Flipkart had its best Big Billion Days (BBD) in 2023, driving Walmart’s foreign sales growth in the fourth quarter of FY24. During the quarter, the US-based retailer’s overseas sales rose 17.6 per cent year on year (YoY) to USD 32.4 billion. In constant currency terms, revenues for the category increased by 13 per cent YoY to USD 31.2 billion. Other […]
US asset manager Davidson Kempner, owner of Britain’s Oak Furnitureland, is in talks with Superdry co-founder Julian Dunkerton about backing an offer for the clothes brand, Sky News said on Monday, the news agency Reuters reported. According to the article, the discussions are still in the early stages, and there is no certainty that Davidson Kempner […]
Chinese ecommerce platform JD.com has recently confirmed that it is exploring the possibility of acquiring Currys, a major electrical retailer in the UK. This announcement has sent shares of Currys soaring, as it opens the door for a potential bidding war after the rejection of a £700 million (USD 883 million) offer from U.S.-based investor […]
Coffee Day Enterprises reported its Q3 FY24 results on 13 February 2024. The topline climbed by 5.36 per cent, and the profit reached Rs 69.18 crore. It is worth noting that Coffee Day Enterprises reported a loss of Rs 402.06 crore in the previous fiscal year over the same period. In comparison to the previous […]
Aditya Birla Fashion and Retail (ABFRL), on Wednesday, reported a rise of 16 per cent in consolidated revenue from operations in the third quarter ended December 2023 despite muted demand, it said in a regulatory filing. In Q3 FY24, the company recorded consolidated revenue from operations at Rs 4,167 crore compared to Rs 3,589 crore […]
The Body Shop appointed administrators to accelerate the restructuring of the UK business, as per the media statements. “Today, the directors of The Body Shop International Limited have appointed Tony Wright, Geoff Rowley and Alastair Massey of business advisory firm FRP as joint administrators of the company, which operates The Body Shop’s UK business,” said an […]
Homegrown garment business Bombay Shirt Company has secured Rs 54 crore in a Series B fundraising round led by Singularity, which includes contributions from Caratlane founder and Singularity general partner Mithun Sacheti, according to a news press release on Monday. As part of the deal, new investors enter the capital structure through a secondary buyout of […]
