Mothercare sticks to guidance despite falling UK sales January 9, 2019 Mothercare sales plunged in the three months to mid-January, it told investors today, though the business remains on track to deliver on its full-year guidance. Like-for-like UK sales dropped by 11.4 per cent over the parent and baby chain’s third quarter as it blamed “challenging trading conditions” as well as its programme of store closures. [...]
DNO crowned king in battle for Faroe as shareholders and board accept increased bid January 9, 2019 Norwegian DNO is on the cusp of declaring victory in its battle for Faroe Petroleum as it enters agreements to buy half of the company’s shares by the end of the week. The bidder said it had managed to convince investors holding around 52.4 per cent of Faroe shares to sell. Read more: DNO's increased hostile bid [...]
Sales slip at Topps Tiles but boss hails robust result in tough retail climate January 9, 2019 Sales at Topps Tiles slipped 1.4 per cent in the 13 weeks to 29 December compared to the same period last year, the tile retailer said today. Despite the sales decrease its chief executive Matthew Williams hailed Topps' robust performance. “Against a challenging market backdrop and a strong period of performance in the prior year [...]
Police and army launch investigation after drone grounds Heathrow flights January 9, 2019 Police have brought in help from the military as they carry out an investigation into a drone sighting that brought Heathrow airport to a standstill last night. The Met police said it has launched a “full criminal investigation” into the drone, which grounded flights for roughly an hour last night, just weeks after a similar [...]
Cherry on the cake: Greggs shares rise as baker lifts profit outlook for third time in a year January 9, 2019 Greggs is on a roll, seeing off problems in the food sector which have hit competitors to up its profit guidance for the third time in less than a year today. The chain said it now expects 2018 profits before tax of £88m, up from predictions of £86m in November. The Newcastle-founded baker is celebrating its [...]
Markets lift as US-China trade talks reach conclusion January 9, 2019 Trade talks in Beijing between China and the US have concluded, with the results of the negotiations expected to be announced shortly. Asian markets lifted this morning on hopes that a deal had been secured. Hong Kong’s Hang Seng Index closed up more than two per cent and the Shanghai Composite was up almost one [...]
Regal results for Majestic Wine despite UK retail headwinds January 9, 2019 Majestic Wine uncorked 6.8 per cent revenue growth over the Christmas period but warned that retail trading conditions remain tough. The wine retailer, which said nearly a third of its sales come around Christmas, also boosted gross profit growth to 8.2 per cent. It said it remains on track to deliver full-year profit figures that are “broadly [...]
Ted Baker posts Christmas sales rise despite chairman harassment investigation January 9, 2019 Ted Baker today reported double-digit sales growth over the festive period as it proved resilient to retail fears and an investigation into its founder. The fashion brand said retail sales increased by 12.2 per cent in the five weeks to 5 January compared to the same period last year. The growth was spurred on by [...]
Government dismisses hopes of a new Brexit deal as ‘fantasy’ January 9, 2019 The government dismissed MPs hopes an alternative Brexit deal as “magical” delusions this morning ahead of parliament’s crucial vote on the Prime Minister’s withdrawal agreement. Cabinet Office minister David Lidington told BBC Radio 4’s Today programme that there is no hope of negotiating a fresh deal with the EU if MPs vote down Theresa May’s [...]
US businessman Robert Kraft wins 2019 Genesis Prize and vows to use prize money to tackle antisemitism January 9, 2019 American businessman Robert Kraft has been announced as the winner of the Genesis Prize, and will use the $1m winnings to help to tackle the rise of anti-Semitism across the US and Europe. The prize, dubbed the “Jewish Nobel Prize” by Time magazine, is awarded to individuals for outstanding professional achievement, contribution to humanity and [...]