Retailers slash 84,000 jobs amid storm of rising costs and fierce competition January 26, 2017 Retailer shed an estimated 84,000 jobs in the final quarter of 2016 as the industry heads for what could be a “more profound” shake-out than it experienced after the financial crisis. New figures from the British Retail Consortium (BRC) show the number of jobs in the sector fell three per cent year-on-year in the final [...]
This is how much disposable income the UK had in December January 25, 2017 UK households celebrated a rise in disposable incomes in December last year – but it is thought spending on non-essentials will slow in 2017 as inflation starts to bite. Families had an average £202 of disposable income in December 2016, a rise of 4.4 per cent (or £8.57) on the same month a year before, [...]
Unilever’s sales expected to unveil sagging European sales tomorrow January 25, 2017 Food manufacturing giant Unilever is forecast to post an increase in global sales and profit when it reports its full-year results tomorrow, but analysts expect the company to reveal sagging growth in Europe. Bernstein analysts expect profit before tax to come in at €7.58bn (£6.46bn), up from €7.22bn last year. They have forecast net sales of €52.98bn, with organic sales growing [...]
Scotch whisky contributes £5bn to UK economy January 25, 2017 The UK’s burgeoning scotch industry supports around 40,000 jobs in the country and exports £4bn in goods every year. New figures from the Scotch Whisky Association suggests that the UK’s trade deficit, which current stands at £115bn, would be 3 per cent larger, without the contribution from scotch. The association gave the scotch industry a positive [...]
Tesco hit with new damages claim over accounting scandal January 25, 2017 Tesco is fighting off a new damages claim from an investor over its 2014 accounting scandal. According to the Financial Times, U.S. fund manager Manning & Napier has claimed it lost $212m (£164m) due to the scandal, in which Tesco overstated its profit by £326m. The scandal led to a crash in Tesco's share price and [...]
The Restaurant Group to report dip in sales as it prepares for another tough quarter January 25, 2017 The Restaurant Group expects to report a dip in sales for the 53 weeks to 1 January, and said the company is gearing up to make significant changes. The figures Total turnover was up 3.7 per cent on the previous year, hitting £710.7m, but like-for-like sales dropped 3.9 per cent. In the fourth quarter, like-for-like sales [...]
Surge in spoof humour book sales boosts WH Smith on the high street – but travel’s still the stationer’s lifeblood January 25, 2017 Well, it couldn't rely on adult colouring books forever, could it? The fad around adult colouring books might be slowing, but WH Smith has instead seen a surge in sales of spoof humour books, such as Five on Brexit Island and Five Give Up the Booze, spoofing Enid Blyton's The Famous Five. There's also the Ladybirds for Grown-Ups series, [...]
Thomas Cook’s new advert has sent its brand soaring January 25, 2017 January is traditionally a time for holiday companies to appeal to potential customers, as people return reluctantly to work under grey skies following the Christmas break. Thomas Cook is one company that is aiming to appeal to future holidaymakers dreaming of sunnier climes. It launched its “you want, we do” campaign after Christmas, but there is a [...]
Marston’s toasts a fine festive season January 25, 2017 Marston’s said it was on track to open 20 more pub-restaurants and bars and five lodges this financial year after “encouraging” festive season trade. But analysts warned the pub company could face tougher conditions and may need to rely on its value outlets Two For One and Carvery for growth as consumers tighten their belts. [...]
British wine brand Chapel Down is about to launch into its toughest market yet: France January 24, 2017 British sparkling wine will be served in some of Paris' top restaurants under a deal uncorked by Chapel Down. The English producer has partnered with French luxury wine distributor Perles Du Monde for its fizz to be made available in restaurants, bars and hotels across the Channel. The attempt to break into the world's most [...]