Patisserie Valerie chairman Luke Johnson to refuse salary November 4, 2018 The chairman and executive director of embattled bakery Patisserie Valerie is to waive his annual salary for the rest of his tenure as he attempts to focus on bringing the chain back to life. Johnson has told the company's board he will forego his £60,000 annual salary in light of the firm's recent accounting scandal, according [...]
No bumps in the road expected for Halfords despite retail gloom November 4, 2018 Bicycle and car maintenance retailer Halfords is expected to report that business is running as usual in its half-year results next week, despite many other retail stores being negatively affected by this year's unusually long hot weather. The retailer is expected to remain on track for its full-year profit guidance, which will be broadly in line [...]
JD Wetherspoon faces opposition to finance director’s pay rise November 4, 2018 JD Wetherspoon may be hit with a shareholder revolt at the pub chain’s annual meeting this month over proposals to boost the finance director’s pay by more than 10 per cent. Proxy advisers ISS and Glass Lewis have recommended that investors oppose a 12.3 per cent increase in salary for finance chief Ben Whitley to [...]
Marks and Spencer results will reflect the high street’s health November 4, 2018 Results from Marks and Spencer’s clothing range – long the weaker twin to its strong food offering – will be closely watched when the retailer reports on Wednesday, after difficult results for several of its rivals. Consensus estimates from 11 analysts suggest the FTSE 100 firm will post half-year profits before tax of £203m, a [...]
Cafe Rouge owner brings in restructuring expert to negotiate lower rents November 4, 2018 Cafe Rouge owner Casual Dining Group has engaged a restructuring specialist to negotiate lower rents with landlords, the company revealed today. The group, which also owns restaurant chains Bella Italia and Las Iguanas, has hired Alvarez & Marsal to drive down prices as the group struggles in a "tough operating environment". The casual dining sector has [...]
Sushi chain Wasabi hires PwC in hunt for cash injection to fund expansion November 4, 2018 Sushi chain Wasabi is hunting for a new investor to drive international expansion, during a challenging period for the UK dining sector. Financial services giant PwC has been hired to search for an injection of capital, the firm confirmed today, which will be used to refurbish and expand the UK portfolio of around 50 stores. [...]
IWG boss mulling £2.2bn break-up of serviced office space business November 3, 2018 The world’s largest serviced office space provider is mulling a £2.2bn split which could result in swathes of the company’s international portfolio being sold off, according to Sky News. Mark Dixon, who runs IWG and founded the company under its original Regus brand, is said to be weighing up plans to split the firm into two [...]
Fried chicken and a trip to the bookies: London’s worst high streets revealed November 2, 2018 Researchers have drawn a fresh map of London to rank its best and worst high streets for mental health and wellbeing. The Royal Society for Public Health analysed the different shops on high streets across the UK and measured them against factors including their potential to encourage healthy choices and their usefulness for mental wellbeing. For [...]
Paddy Power Betfair cashes in on US sales as revenues climb November 2, 2018 Paddy Power Betfair reported rising third-quarter revenues this morning, as new efforts to tap into US markets helped deliver much-needed sales in the wake of challenges closer to home. The bookmaker’s shares edged up two per cent in early morning trading, with revenues hitting £83m in the three months to the end of September, marking a [...]
Sofa, so good: Ikea growth driven forward by deliveries and online November 2, 2018 Ikea grew revenues by almost six per cent in the financial year, as online sales helped expand the top line. The furniture giant grew UK revenues by 5.9 per cent to £1.97bn for the financial year ending August. It increased market share to 8.4 per cent from eight per cent last year. While nearly 60m [...]