Knowingly undersold? John Lewis profits fall 15 per cent – but not because of Brexit September 15, 2016 You know things are bad when the chattering classes stop spending: today John Lewis admitted things had gone downhill in the first half as market conditions worsened. The figures Profit before tax and exceptional items fell 14.7 per cent to £81.9m in the six months to the end of July, despite a 3.1 per cent rise in gross sales, to £5.27bn. Although [...]
Morrisons reports improved sales and increased profits and says Brexit has had no negative effect September 15, 2016 Shares in Morrisons jumped almost five per cent as the market opened, after the supermarket reported an increase in sales during the 26 weeks to 31 July, and said it hasn't seen any ill effects from the Brexit vote. The figures Revenue dipped to £8.03bn from £8.06bn this time last year, however like-for-like sales in the first [...]
Dunelm Group reveals seven per cent uptick in revenue as it hikes dividend by 17 per cent September 14, 2016 Furniture retailer Dunelm Group has hiked its dividend after reporting increased revenues and profits for the 52 weeks to 2 July. The figures Total revenues grew 7.1 per cent to £880.9m from £835.8m the year before. Operating profit was up to £129.3m from £122.5m, a 6.6 per cent year-on-year change, while pre-tax profit was up 6.2 [...]
China expected to be the golden ticket for Accesso as revenue leaps September 14, 2016 International growth in resorts and attractions is set to work well for ticketing technology company Accesso in coming years. China's booming middle class could propel the country to the fore of global theme park, resort, and attraction ticket sales and Accesso is expecting to be able to take a slice of the action. Bottom line growth in recent months means the Berkshire-based company is now eyeing up expansion [...]
The emperor’s new H2Os: Bottled water will offset slowdown in other areas of Europe’s food and beverage industry, according to Moody’s September 14, 2016 Move over fizzy drinks, there's a new favourite beverage in town – and it's a classic. Fast-growing demand for bottled water will help Europe's food and beverage firms to offset declining growth in sugary drinks sales and other areas, according to a report from Moody's Investors Service. Nestle, Danone and Coca-Cola are some of the [...]
E-cigarettes: British Medical Journal study links vaping to quitting smoking September 14, 2016 The vaping community has been given another boost after a study published by the prestigious British Medical Journal has said the growth of e-cigarettes in England has been associated with a higher rate of successful attempts to quit smoking. Last year, e-cigarettes may have resulted in around 18,000 people becoming long-term tobacco quitters. "Although these numbers [...]
It turns out the location of craft breweries can predict London’s next house price hotspot September 14, 2016 Craft beer may be a hipster phenomenon, but it's worth paying attention to – if only for the fact it may be able to predict where the capital's next area of house price growth may be. A study by EasyProperty has found prices in the areas around London's 50 "boutique" breweries have bucked the post-Brexit [...]
Just Eat delivers new chatbot “coach” to advise customers on takeaways September 14, 2016 Takeaway giant Just Eat will launch a Facebook Messenger chatbot food "coach" as part of an ambitious, tech-focused rebrand in which it is attempting to create "the world's greatest food community". Just Eat's chatbot will be on hand to customers to "bring food discovery to life by engaging with customers to coach and inspire their food choices", the company announced [...]
Tick, tock: Cartier and Montblanc owner Richemont forecasts 45 per cent profit drop as luxury watch demand falls September 14, 2016 Shares in Richemont, the owner of luxury brands such as Cartier and Montblanc, fell this morning as the company forecast a 45 per cent drop in first-half operating profit on the back of a sales slump and lower demand for watches. The figures In a trading update this morning, the Swiss luxury goods retailer said total sales had fallen 14 [...]
Pure Gym Group announces intention to float on London Stock Exchange September 14, 2016 Pure Gym Group has unveiled its IPO plans, after months of working towards a flotation on the London Stock Exchange. The company said this morning it intends to apply for a listing on the main market, and the IPO is "expected to raise gross proceeds of £190m". Pure Gym will use the proceeds to repay [...]