The Gym Group’s low-cost fitness centres bulk up in 2016 January 12, 2017 Britain's fastest-growing operator of low-cost gyms said total revenue for 2016 bulked up with more branch openings and membership sales. The figures The Gym Group today said 15 new branches were added in 2016 for a total of 89 in a year-end trading update. The pay-as-you-go gym operator has 17 new branches in the works for 2017. [...]
About-turn for Mothercare as it reaps the rewards of the weak pound January 12, 2017 What a difference a couple of months makes. Having warned of "stalling" sales in November, today Mothercare was cautiously optimistic about the year ahead. The figures UK like-for-like sales rose one per cent in the 13 weeks to 7 January, pushed up by 5.5 per cent online sales growth. That was indicative of Mothercare's shift in priorities – with online now making up 40 [...]
John Lewis will cut staff bonus as profit comes under pressure January 12, 2017 The John Lewis Partnership has warned profit is "under pressure" due to falling shop prices, the growing dominance of online shopping, and cost pressures from the devaluation of sterling. The company, which shares its profits with staff through an annual bonus, said the difficulties the business is facing will mean the employee bonus will be "significantly lower" [...]
Debenhams share price jumps at the open as it reveals increase sales over Christmas January 12, 2017 Shares in Debenhams rose over three per cent at the open, as the department store revealed an improvement in sales over the Christmas period. The figures Like-for-like sales were up five per cent in the seven weeks to 7 January, beating expectations. Debenhams attributed the improvement to beauty and gift sales, which took the non-clothing [...]
AO World share price falls as investors focus on economic storm clouds on horizon despite increase in revenue January 12, 2017 AO World has reported increased sales in the UK as its European revenue grew strongly, but shares fell sharply as it warned of bumpy economic conditions to come. The figures UK ao.com revenues grew by 10.3 per cent year on year. Overall UK revenue increased by a slightly smaller 8.9 per cent, reflecting legacy logistics and [...]
Tesco share price falls despite sales rise in third trading quarter as investors focus on weaker Christmas trading January 12, 2017 Tesco's share price fell despite the supermarket giant reporting its first quarterly market share growth since 2011, as sales grew for the eighth quarter in a row. The figures Group like-for-like sales grew 1.5 per cent in its third trading quarter, with UK like-for-like sales growing even faster, at 1.8 per cent. The supermarket said it [...]
Forget the sugar tax, #DontTaxHealthy wants to incentivise healthy food by cutting VAT to 5 per cent January 12, 2017 A new group wants to decrease the cost of obesity on the UK economy by cutting VAT on healthy options instead of punishing consumers with a "sugar tax". In the UK, 40 per cent of 18-34 year olds and 30 per cent of all ages said they can't afford to purchase healthy food and drink because it's more expensive than other products, YouGov [...]
Imperial Brands lights up a joint venture deal with China Tobacco to expand into the world’s number one cigarette market January 11, 2017 Imperial Brands has made a move on the world’s largest cigarette market through a joint venture with state-owned China National Tobacco (CNTC). Shares in Imperial, the world’s fourth-largest tobacco company, shot up more than three per cent after the announcement, before closing up 0.95 per cent to 3,626.50p. CNTC has a hold on more than [...]
Shoe Zone’s sales slip January 11, 2017 Budget shoe retailer Shoe Zone reported a drop in revenues this morning after a period of shutting down its loss-making stores. In its full-year results – covering the year to 1 October 2016 – Shoe Zone said its revenues fell 4.2 per cent to £159.8m from £166.8m the year before. Profits were relatively flat, increasing [...]
Cutting the beer duty in the March budget will inspire investment and protect jobs during uncertain times January 11, 2017 The British Beer and Pub Association (BBPA) has called on the government to cut the beer duty to encourage investment, protect jobs and improve confidence in the sector. Beer duty was frozen in the last Autumn Statement, but the BBPA said the industry is struggling: the UK's beer duty is higher than those in other European countries. Now, the BBPA has released [...]