Today’s news in brief-19/12/24
Amazon is preparing to settle a significant group claim from delivery drivers over working conditions, potentially costing £140m. The case, brought by Leigh Day solicitors in 2021, argued that more than 3,000 drivers, classified as self-employed, were entitled to compensation of about £10,500 annually for unpaid earnings. Drivers claimed Amazon dictated working conditions, citing strict app-based delivery times and requirements to redeliver parcels at their own cost. Settlement offers, reportedly worth tens of thousands of pounds, are now being made to drivers represented by Leigh Day. Acceptance prohibits further claims against Amazon, with compensation expected to be distributed post-Christmas.
Frasers Group has secured planning approval for a new headquarters in Warwickshire despite local opposition. The facility, to be built on green belt land, will include a hotel, warehouses, and sports facilities. The company argued it had outgrown its current Derbyshire HQ and claimed the move would increase Rugby borough jobs by 15% while contributing £69m to the national economy.
Birkenstock reported a 21% rise in annual revenues to €1.8bn (£1.48bn) for the year ending 30 September, exceeding its 20% guidance. Adjusted EBITDA margin reached 30.8%, surpassing targets, with net profit surging 155% to €192m (£158m). Regional revenue growth remained strong, rising 19% in the Americas, 21% in Europe, and 42% in APMA.
Burberry has appointed Stella King, a Moncler executive, as an independent non-executive director, effective April 2025. King, Moncler’s current chief Chinese business officer, brings extensive experience in the Asia-Pacific luxury market, having also held senior roles at Sergio Rossi and Lane Crawford. Her appointment follows the upcoming retirements of Fabiola Arredondo and Antoine de Saint-Affrique from Burberry’s board in July 2025.
