Pets at Home profits crash as restructuring costs mount November 27, 2018 Pet care veterinary and retail chain Pets at Home has seen its profits fall dramatically over the last six months, as the business struggled with rising costs from restructuring in a difficult retail climate. Its share price fell by as much as 4.8 per cent in early trading. The figures Overall group revenue rose 6.7 per [...]
Thomas Cook shares plummet as it issues £30m profit warning following summer heatwave November 27, 2018 Thomas Cook's share price crashed by 30 per cent this morning as it announced a £30m profit warning, blaming the summer heatwave for hitting the package holiday provider’s main trading period. The warning – the business's second in two months – comes as the firm reported its tour operations arm was down £88m, impacted by discounts in [...]
Surf’s up: London is getting a £40m surfing venue November 27, 2018 London may become the first capital city in the world to boast an inland surfing venue, thanks to a project announced today by Lee Valley Regional Park Authority (LVRPA). LVRA and inland surfing company The Wave have unveiled plans for a £40m surfing destination called The Wave London next to the Lee Valley Athletics Centre in [...]
Campbell Soup reaches deal with activist investor to stop battle over board November 26, 2018 Campbell Soup has ended a months-long battle with Third Point by promising the activist investor can choose two new board members. The hedge fund, which will now have a say in selecting Campbell’s new chief executive, has been locked into a dispute with the soup maker over its struggling share price and a takeover spree which [...]
Luxury furniture firm Smallbone of Devizes teeters on brink of collapse November 26, 2018 High-end furniture manufacturer Canburg, which owns brands such as up-market designer Smallbone of Devizes, is on the edge of bankruptcy as it faces administration. The firm has filed a notice to appoint accountancy firm Grant Thornton as administrator this week, Sky News first reported. Hundreds of jobs could be at risk if proceedings go ahead. [...]
UK pub employment on the rise despite spate of closures November 26, 2018 The number of people employed by pubs in the UK has increased over the last decade, despite a shrinking number of watering holes, new figures have revealed. Research by the Office for National Statistics (ONS) shows that while the number of pubs has shrunk from roughly 50,000 in 2008 to 39,000 in 2018, the number of employees [...]
Retail magnate Mike Ashley prepares to give evidence about high street struggles to MPs November 26, 2018 Retail tycoon Mike Ashley is to give evidence about the woes facing the high street in front of a parliamentary committee next week after demanding an audience with MPs. Sports Direct confirmed today that the billionaire businessman is to face Westminster’s Housing, Communities and Local Government Committee for an hour-long session next Monday. The announcement [...]
Piece of cake: Revenue and profits grow after Cake Box’s Aim IPO November 26, 2018 Cake Box boosted revenue by 44 per cent in its first half-year results following its £43m initial public offering (IPO), the company revealed today. The cream cake specialist listed on Aim in June and has since opened 15 new franchise stores, bringing the total to 101, with franchisee turnover up 29 per cent to £14.1m. [...]
Investors on the look-out for sales and dividend ahead of Greene King results November 25, 2018 The City will be looking to see whether Greene King can maintain its dividend this week, with interim results set to reveal whether the pub and brewing giant has been able to carry its bumper summer spell of higher sales into the autumn trading period. Analysts have forecasted that full-year sales will reach £2.17bn in [...]
Investors show mixed appetite for Wagamama takeover as vote draws near November 25, 2018 A shareholder showdown looms over The Restaurant Group’s £559m planned takeover of Wagamama this week, with a number of major investors gearing up to oppose the deal. The Frankie and Benny’s owner could suffer a shareholder rebellion on Wednesday after several top investors signalled their intentions to vote against the proposed acquisition. Columbia Threadneedle Investments – [...]