Living Wage: Morrisons boss Dave Potts joins Next, John Lewis and Whitbread in warning of extra staff costs September 10, 2015 The cost of the National Living Wage is stacking up rapidly. Morrisons has today admitted that the introduction of the government-imposed measure next year is going cost the supermarket group “10s of millions of pounds” on top of the costs the business is already battling with to turn itself around. From April next year, businesses [...]
Deloitte helps graduates on its scheme with East Village flats in London September 10, 2015 Deloitte, one of the Big Four accountancy firms, is helping its new graduate intake navigate London's housing crisis by reserving more than 40 flats in the former Olympic Athletes’ Village. The firm has joined forces with Get Living London, owner and manager of privately rented homes at what's now the trendy East Village, to help junior staff [...]
Dixons Carphone share price rises two per cent as it hails strong start to the year September 10, 2015 Dixons Carphone is still going from strength to strength, as it consolidates its position in the sector following last year's merger. Dixons Carphone share price rose two per cent in mid-morning trading on the news. The figures Dixons Carphone reported group like-for-like revenues up eight per cent for the first quarter of the year ending [...]
Next’s share price climbs as profits and sales rise, but retailer warns that Living Wage will cost retailer £27m a year September 10, 2015 Next's share price climbed this morning after the high street giant revealed better-than-expected results, keeping it ahead of Marks & Spencer yet again. Total sales up 2.7 per cent for the first half to the end of July. Pre-tax profits were up 7.1 per cent, while earnings per share rose eight per cent, thanks [...]
John Lewis Group warns of lower profits for 2015 due to higher pension costs September 10, 2015 The John Lewis Partnership has warned of lower profits this year on the back of pension charges and low price inflation. The figures John Lewis reported a 1.9 per cent increase in revenue to £4.5bn for the first half of the year ending 1 August against the same period last year. Like-for-like sales were down [...]
Peppa Pig brings home the bacon for FTSE 250 company Entertainment One as revenue rises September 10, 2015 Entertainment One (eOne), the Canadian company responsible for distributing blockbuster series Twilight and the Hunger Games, reported revenues were up one per cent in yesterday’s trading update. Primary school favourite Peppa Pig, bought home the bacon for eOne’s TV operations – revenues in the unit were up by 32 per cent. While performance was largely [...]
FTSE 100 bosses and executive pay review has share awards in its sights September 9, 2015 You could almost hear the sighs of exasperation around the City this week as yet another review of boardroom pay was unveiled. The weariness was understandable – myriad studies of executive remuneration have gathered dust for years, even as FTSE-100 pay soared to fresh heights. There is no guarantee that this one, spearheaded [...]
Sports Direct AGM: Mike Ashley, Keith Hellawell and retailer’s remuneration policy easily approved September 9, 2015 Dickension protesters at the back, you can stop demonstrating now. The votes have been cast and every resolution put forward at Sports Direct's AGM today has been passed. You could go as far as to say with flying colours. Which will come as a surprise to very few people given that founder Mike Ashley [...]
Flower Power: Laura Ashley plots expansion in India and China September 9, 2015 Laura Ashley is plotting its first foray into India and mainland China, where it believes its floral prints and home accessories will be a hit with shoppers. The retailer is in talks with a number of potential partners in both countries with the view of having its first stores up and running within two years, [...]
GSK share price hit by clinical trial failure of major new respiratory medicine Breo September 9, 2015 Today, GSK released disappointing clinical results for a new respiratory drug it hoped would bring in billions of pounds worth of sales. Breo, a treatment for asthma and chronic obstructive pulmonary disease (COPD), managed to extend life expectancy by just 12.2 per cent among a patient sample size of 16,500 from 43 countries around [...]