Sports Direct just bought a new corporate plane for $51.1m despite reporting its profits halved December 8, 2016 Sports Direct announced its profits had halved today, but that didn't stop the company from buying a brand new jet for $51.1m (£40.4m). The new corporate plane will join the company's corporate helicopter, a fleet of vehicles, a Best Western hotel and "several houses in and around Shirebrook" as the company's corporate assets and facilities. Read [...]
Ocado reports sales growth in final quarter December 8, 2016 Ocado has reported growth in sales and order numbers during the 16 weeks to 27 November, with year end sales up 15.1 per cent – but shares in the firm dropped almost four per cent at the market open. The grocery delivery service said group sales were up 14.5 per cent in the fourth quarter, from [...]
Sports Direct shares fall as it unveils 57 per cent profit hit on weak sterling December 8, 2016 Shares in troubled retailer Sports Direct fell as much as six per cent in early trading, after it revealed pre-tax profits had halved in its first half thanks to weak sterling. Underlying profit before tax dropped 57 per cent to £71.6m from £166.4m, it said, while underlying earnings before interest, taxation, depreciation and amortisation fell 33.5 [...]
More trouble for Green as Arcadia depot staff to strike over wages December 8, 2016 Workers at Arcadia’ distribution arm, who are part of the GMB union, voted for fresh industrial action yesterday. Staff members at Spectrum for Arcadia, a division of the DHL Logistics Supply Chain, are set to walk out today and then again on Monday in support of a pay claim for a Real Living Wage – [...]
Byron Hamburgers to get new big cheese chairman in former Morrisons boss Dalton Philips and new chief exec December 7, 2016 There will be a new chair at the table at Byron Hamburgers this week, when former Wm Morrison boss Dalton Philips will be appointed chairman of the up-and-coming restaurant chain. The appointment could come as soon as tomorrow, Sky News reported. It will be Philips' biggest corporate role since leaving the supermarket at the beginning [...]
Camden Town Brewery, one of London’s leading craft beer brands, is launching in NYC December 7, 2016 Calling all British craft beer fiends: Camden Town Brewery will launch its flagship Hells lager in New York City this month. The craft beer brewer was acquired by global industry leader AB InBev for £85m about a year ago and has received significant investment from the brand's high end division, enabling it to launch into new markets and build a new, purpose-built [...]
Amazon-mageddon: Prices set to rise online due to lack of warehouse space December 7, 2016 Rock-bottom prices for online products may end if the UK doesn't build a shedload more warehouses. The rapid expansion of online retailers is expected to lead to a shortage of warehouse space, which would push up rents, and ultimately the price of goods. Read more: MPs pay surprise visit to Sports Direct's Shirebrook warehouse It is [...]
Ikea’s global profit is up 20 per cent for 2016 with growth in China December 7, 2016 Swedish furniture retailer Ikea Group reported global profit rose 20 per cent following its fifth year of sales growth in the UK last month and rapid growth in China. The figures Total sales for the financial year reached €34.2bn (£29.1bn), up 7.1 per cent from last year, and sales grew in 27 out of 28 markets. China was one of [...]
Kew Gardens beats the Tower of London and the London Eye as the city’s top attraction December 7, 2016 Buckingham Palace, Tower Bridge, Big Ben – these might be the first London landmarks tourists want to visit, but expectations were smashed this year as The Royal Botanic Gardens, Kew won the top spot as London's best attraction for 2016. More than 23,000 public votes were cast and a panel of industry experts weighed in on top attractions [...]
Are Ryanair’s package holiday deals set for take off? December 7, 2016 Budget airline Ryanair has announced it is going to sell package holidays alongside its flights, placing it in direct competition with tour operators. The company wants to reposition itself – from a business known mainly for cheap flights to a broader leisure offering, all while undercutting its rivals. I have used YouGov profiles data to [...]