DAILY BRIEFING: Debenhams unveils a new logo for the first time in 20 years in a bid to get shoppers back
LOGO HOPE Department store group Debenhams has unveiled a new logo for the first time in 20 years as part of a plan to get shoppers back in its stores.
It said the ‘modern’ and ‘friendlier’ branding will be rolled out alongside an advertising campaign using the tagline ‘do a bit of Debenhams’.
Under its so-called ‘Redesigned’ strategy, the chain has been renovating stores by fitting them with gyms and restaurants.
Department store group Debenhams has unveiled a new logo for the first time in 20 years as part of a plan to get shoppers back in its stores
In June, it issued its third profits warning of 2018 as it admitted it had been forced to slash prices to keep up with competition.
FACTORY FLOPS British manufacturing expanded at its slowest rate for more than two years in August, according to research firm IHS Markit. Its index of factory performance recorded a reading of 52.8, down from 53.8 in July, where anything over 50 signals growth. Analysts blamed a slowdown in the global economy.
SPENDING SPREE Consumer spending climbed 4.5per cent in August compared with a year earlier, according to data from Barclaycard. Entertainment saw the biggest growth as ticket sales jumped by 8.6per cent and spending in pubs leapt by 11.9per cent.
BOSS BUYOUT Indian miner Vedanta Resources will be delisted from the London Stock Exchange on October 1 under a buyout by chairman Anil Agarwal’s family trust Volcan Investments.
OIL SLIDE North Sea oil and gas explorer Cluff Natural Resources made a loss of £794,481 during the first six months of the year. But chairman Algy Cluff described the North Sea ‘as one of the most interesting and prospective basins in the world’.
RICH PICKINGS Backers of seven British ‘unicorns’ – young businesses valued at more than £1billion – have set up advice firm YYX Capital to help the ultra-rich to invest in technology companies.
GLUTEN BOOST Cake and bread maker Finsbury Food Group has bought gluten-free bakery Ultrapharm for £17million, including up to £3million in annual instalments until 2021 subject to the continued employment of key management.
SALES SURGE Budget fashion retailer M&Co enjoyed a 2.4per cent boost to sales thanks to strong online revenue growth of 18.3per cent in the year to February. Profits were flat.
BANK CHIEF High street stalwart Marks & Spencer has hired Kirsty Ward from Walmart as director of M&S Bank and Services.