Real Good Food’s shares plummeted as exec warns earnings could fall short of estimates December 6, 2016 Real Good Food reported sales growth but experienced losses following trouble with commodity pricing and weak sterling. Executive chairman Pieter Totté said "there is a risk" the company's earnings won't meet market estimates. The figures Total group sales for the Aim-listed ingredients and baking products company grew by 5 per cent to £49m, the company reported in its interim results for [...]
This independent beer brand has just started a war on corporate craft beer wannabes December 6, 2016 HonestBrew has started a row with what they claim are faux craft beer peddlers, claiming global industry leaders "hide behind" craft beer names to "trick" beer lovers into thinking they're supporting local businesses. The craft beer seller said multinational companies like AB InBev, a group they nickname "Blandy", buy out local breweries like Camden Town and retailers like Beer Hawk [...]
Lego’s not playing around: Toymaker appoints first British chief executive in structure shake-up to build for the future December 6, 2016 It's all go at Lego at the moment. The company's just announced that Jorgen Vig Knudstorp is stepping down from his position as chief executive and will be replaced by Bali Padda. Padda, currently chief operations officer at the firm, will be the Danish toymaker's first British chief executive and assumes the role on 1 January 2017, with [...]
Raise a glass: The Independent English Wine Awards will give English-made wine a marketing boost December 6, 2016 The first competition made up entirely of independent English wines was announced today. After the news that English wine producers pledged to increase their exports tenfold by 2020, founder Alex Taylor wants the competition to raise the profile of England's wines and prove their quality. Read more: Britain is set to become a top wine producing [...]
Here’s everything you need to know about Amazon’s new see-it-take-it shop December 6, 2016 David Bowie died, then Brexit, then Trump – now Amazon has launched a shop where you can just take stuff off the shelves and walk off. When will the madness of 2016 end? If it's all getting a bit much, chill out and read our handy guide to the new Amazon Go shop. I've seen the [...]
Say goodbye to Co-op Travel: Thomas Cook buys the group out of its joint venture for £55.8m December 6, 2016 Thomas Cook today said it is planning to buy The Co-operative Group out of its joint venture, taking full control of the UK retail store network, for £55.8m. The tourism company will purchase The Co-operative Group's 30 per cent stake and Central England Co-operative's 3.5 per cent stake for £50m and £5.8m respectively – both [...]
Consumer spending growth was at its second highest since 2011 last month December 6, 2016 Consumer spending received its second highest boost since 2011 last month, even though consumer confidence was flat. Spending growth was 5.1 per cent year-on-year, according to data from Barclaycard. The highest consumer spending growth that Barclaycard recorded (5.5 per cent) was in October. Read more: Black Friday: Customers of this lender are spending £32,000 a [...]
Black Friday wasn’t quite the sales boost retailers may have expected December 6, 2016 Black Friday wasn't quite the spending boom that retailers were expecting. Figures from KPMG and the British Retail Consortium (BRC) show that like-for-like UK retail sales increased 0.6 per cent in November. Read more: Piccadilly Line delays likely to continue until after Christmas, TfL admits And, although non-food sales increased around 40 per cent on [...]
Sports Direct has had an annus horribilis, raising questions about Mike Ashley’s game plan December 6, 2016 SPORTS Direct has had an annus horribilis, from being slammed by MPs for working conditions in Derbyshire that resemble a Victorian workhouse to a share price plunge of 47 per cent in the year to date. Corporate governance has been an issue. Mike Ashley, a dominant founder and shareholder, is now CEO. The retailer has [...]
Brexit is bringing European “shopcationers” to London to do their holiday shopping December 5, 2016 Spanish and Italian shoppers are set to hit the streets of London in droves this weekend to bag bargains ahead of Christmas. Since the EU referendum, the weak pound has made London a prime destination for "shopcationers", or people travelling from abroad with the intention to shop, new data suggests. Read more: Christmas shopping will be cheaper this year [...]