Ocado’s share price jumps eight per cent at the open on profit surge January 31, 2017 Ocado's share price jumped eight per cent at the open as it reported a spike in profits. The company's full-year profits beat expectations – despite rising labour costs and price deflation throughout last year. The figures In its results for the year ending 27 November, Ocado reported a 13.6 per cent rise in gross retail sales, up from [...]
The final Rolls-Royce Phantom VII has rolled off the production line January 31, 2017 The last Rolls-Royce Phantom – or at least as we know it – will roll off the production ramps in Goodwood this week. Officially decommissioned at the end of last year, Phantom VII's will be replaced by an eighth generation of the Rolls-Royce car by owner BMW. Read more: Rolls-Royce car sales motor to new record [...]
Private jet trade soars as the UK overtakes the rest of Europe January 31, 2017 The UK buys more private jets than anywhere else in Europe, according to Global Jets Capital research published today. British public companies could be splashing out on 30 of the luxury planes. Another 68 may be purchased by other private enterprises. Some 959 private jets will be delivered to Europe between now and 2025, worth [...]
Cheeky IPO? Nando’s is considering a float January 30, 2017 Nando's, the South African restaurant chain famous for its spicy peri-peri chicken, is reportedly considering a cheeky initial public offering (IPO). Sources told Bloomberg Nando's is in the process of speaking to advisers and planning a share sale. Among its options, the Johannesburg-based company is mulling a London listing, the unnamed sources said. In a statement, a spokesperson [...]
Shoppers flocked to St Pancras for luxury goods from John Lewis and Fortnum & Mason over Christmas January 30, 2017 St Pancras International scored an uplift in sales over the festive season, as shoppers flocked to the train station to stock up on Christmas gifts. Over the ten weeks from 29 October to 31 December, St Pancras scored a 6.2 per cent sales growth year-on-year. This compared to a growth of 1.7 per cent across [...]
New ruler: Paperchase takes on former Pets at Home boss who led stock market float January 30, 2017 Stationery and greetings card retailer Paperchase has named a former Pets at Home chief executive as its chairman. Nick Wood was Pets at Home boss between 2012 and 2016, and led the company to a 2014 flotation. Read more: UK retailers slash 84,000 jobs amid storm of rising costs and price wars Paperchase itself has [...]
Fever-Tree is branching out as it finds there’s more room to grow January 30, 2017 Posh tonic maker Fever-Tree has a knack for finding holes in the market. More than a decade after founders Tim Warrillow and Charles Rolls launched their first product, an Indian tonic water, the firm is flying. The company’s premium alcohol mixers, including Sicilian lemonade and ginger beer, are sold on and off trade to retailers, [...]
Retail M&A slowdown as private equity backs away from high street January 30, 2017 The value of UK retail mergers sunk to a three-year low in 2016, with just 36 mergers agreed – down from 47 in 2015 according to law firm RPC. The new figures released today suggest that total deal values have also slumped from £20.7bn down to just £4.7bn, a decline which outpaced a post-Brexit slowdown [...]
Ocado set to deliver impressive annual results with £1.27bn sales January 29, 2017 Grocery delivery service Ocado will announce its annual results on Tuesday, and is expected to report a profit for the third year in a row. The group's sales are likely to be up 14.4 per cent year-on-year to £1.27bn according to a report from investment company Goldman Sachs. Despite scepticism from City investors, the firm also [...]
American brand Under Armour in talks to buy French Connection Oxford Street store January 29, 2017 American sportswear brand Under Armour is reportedly in talks to take over French Connection's flagship London store on Oxford Street. British retailer French Connection has been seeking a sale of the building as part of a turnaround plan, according to The Sunday Telegraph. The troubled retailer has been under pressure from activist investors to change [...]