Thousands of stores fall off high street as retail woes worsen November 9, 2018 Fresh evidence of the retail woes facing Britain’s shopkeepers emerged this morning, with more than 2,500 stores vanishing from the high street over the first six months of this year. Some 14 stores have closed every day in the first half of 2018, as stiffer competition and higher costs make the retail struggle for survival [...]
Coke frightens Monster with plans to launch Coca-Cola Energy drink November 8, 2018 Coca-Cola plans to launch a new line of energy drinks under its Coke brand, putting it in direct competition with Monster, in which it owns a 17 per cent stake. The drinkmaker told Reuters that Coca-Cola Energy and Coca-Cola Energy No Sugar will be made with natural caffeine and guarana extract. However, it did not [...]
Sainsbury’s and Asda merger could cut hole in shoppers’ pockets, Waitrose warns November 8, 2018 The proposed merger of Asda and Sainsbury’s will cause substantial harm to customers, rival chain Waitrose warned today. It said the merger could force independent retailers to close in the face of competition from the new giant, leaving shoppers with fewer alternatives, while prices could rise. In comments to the Competition and Markets Authority (CMA), which [...]
Game Digital narrows losses as it chases high margins with e-sports venture November 8, 2018 Game Digital narrowed its losses but still saw sales fall in its full year results published today. The figures Revenue came in flat ar £782.3m in the year to the end of July, while the video game retailer made a loss before tax of £7.4m, 26 per cent better than 2017's £10m, as the retailer bumped up cash [...]
Shares fizz as Coca-Cola bottler reports rising revenue November 8, 2018 Shares at Coca-Cola HBC climbed five per cent in morning trading as the fizzy drinks bottler posted rising revenue on the back of higher demand in its international markets. The Swiss-based firm, which is the world’s second-largest Coca-Cola anchor bottler, led the FTSE 100 this morning after reporting revenues of €1.87bn (£1.63bn)in the third-quarter, rising [...]
Kingdom come: Burberry’s new fashion line helps profits meet expectations November 8, 2018 Burberry has welcomed a rise in profits in its half-year results following new creative director Riccardo Tisci's debut collection, titled 'Kingdom'. The figures Burberry total revenue declined three per cent year on year to £1.22bn in the 26 weeks to the end of September. But like-for-like store sales were up three per cent, spurred on by growth [...]
Winter is coming: Superdry looks to colder months after cautious first half November 8, 2018 Fresh from issuing a profit warning last month, British fashion group Superdry reiterated its weather woes this morning after saying that it had yet to see a sustained period of normal conditions, despite enjoying a second-quarter bump in sales. The FTSE 250 firm saw shares fall by over six per cent in early trading despite brand [...]
Halfords profits fall 23 per cent but sales rise in challenging environment November 8, 2018 Halfords profits dropped 23 per cent in the first half of the year as it launched a new strategy but sales rose amid a "challenging" environment. The figures Halfords reported a pre-tax profit of £28.2m for the six months to 28 September – a 23 per cent drop on the same period in 2017. Excluding [...]
Autotrader profits zoom ahead as advertising spend accelerates November 8, 2018 Autotrader stepped it up a gear in its half-year results today, with profits speeding ahead despite an industry-wide lull in car sales. The figures Revenue was up seven per cent year on year to £176.8m for the six months to the end of September, compared to £165m the same period the year before. Profit before [...]
Sainsbury’s sees rising sales despite ‘uncertain’ outlook November 8, 2018 Sainsbury’s posted growth in underlying profit for its half-year results today, despite highlighting an 'uncertain' outlook ahead of the Christmas spending period. The figures Like-for-like sales climbed 0.6 per cent year on year during the six months, rising from the 0.2 per cent growth it reported for the first quarter of the year. That helped revenue hit £16.8bn, up [...]