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 [...]
Little Chef is being gobbled up January 24, 2017 Little Chef Owner Kout Food Group has confirmed that several companies have made bids for the classic motorway food restaurant. The group said in a statement: "Kout Food Group confirms that more than one corporation (including an international chain) has expressed interest in commencing operations within the Little Chef portfolio of over 70 sites. Read [...]
Dixons Carphone reports fifth consecutive Christmas of growth January 24, 2017 Dixons Carphone today reported its "fifth consecutive year of Christmas growth" and said it's on track to meet expectations with its full year profits. The figures Like-for-like revenue in the UK & Ireland was up six per cent in the 10 weeks to 7 January, while southern Europe saw a five per cent increase. The Nordics recorded [...]
Analysts react to Dixons Carphone’s Christmas trading update January 24, 2017 Electronics retailer Dixons Carphone has reported its fifth year of Christmas sales growth, but market reaction was muted, with the company's share price falling more than three per cent in morning trading. Alistair Davies, analyst at Investec, said it was likely that Dixons Carphone had increased market share and improved its margins. There were availability issues around [...]
Shares in Fever-Tree are sparkling as City analysts say the company has more room to grow January 24, 2017 Shares in posh tonic maker Fever-Tree shot up more than seven per cent in morning trading as the company's chief executive Tim Warrillow told City A.M. the brand is still “very early on” in its growth. The figures In a trading update the brand said its full-year like-for-like sales were expected to rise 75 per cent from the previous year, [...]