Canada Goose fluffs up the market by revealing plans for $100m listing February 16, 2017 High-end US coat maker Canada Goose has announced plans to raise $100m by listing on the New York and Toronto stock exchanges. The listing will give the firm, backed by Bain Capital, the ability to pay down debt and expand sales in the US. And in what could be seen as a stroke of marketing genius, the [...]
Nestle misses long-term annual organic growth target for fourth year on the trot February 16, 2017 The KitKat, Smarties and Nespresso maker has announced another year of slowing growth in a tough environment and has slashed its sales growth target as a result. The news has left a bit of a bad taste in investors' mouths – shares edged down 1.37 per cent in early trading. The figures Nestle is aiming for sales [...]
Kraft Heinz has wrong ingredient as sales drop 3.7 per cent February 15, 2017 Kraft's share price fell in after-hours trading after its net profit missed forecasts. The figures Fourth quarter sales at the maker of Heinz ketchup and Kraft macaroni cheese fell 3.7 per cent, down from $7.12bn to $6.86bn. Read more: Bean there, done that: This is the Shard's newest tenant Net profit, however, increased year-on-year from $285m [...]
Debenhams outed for not paying nearly 12,000 workers the national minimum wage February 15, 2017 Department store Debenhams has been outed for not paying its workers the national minimum and living wage. According to the department for business, energy and industrial strategy (BEIS), Debenhams underpaid 11,858 workers by £134,895 in total. Read more: Why the UK is falling out of love with fashion Debenhams said a payroll error has caused the problem and [...]
Topshop logistics workers are going on strike February 15, 2017 Workers at a Topshop logistics centre are set to on strike over wages. Employees at sites in Solihull and Leeds have voted to walk out on 24 February and 26 February. The action comes after staff at the Solihull hub went on strike in the run up to Christmas. Read more: Flopshop: Arcadia Group brand Topshop's sales [...]
Heineken forecasts margin growth ahead of its Punch Taverns takeover February 15, 2017 Heineken, the Dutch brewing giant who is buying British pub chain Punch Taverns, today said it's expanded its margins despite challenging economic conditions. The figures Net profit fell 18.6 per cent to €1.54bn (£1.31bn), while operating profit increased by 9.9 per cent to €3.54bn excluding currency movement and one-offs. Sales in Heineken's premium segment increased 3.7 per cent, and [...]
A fifth of Brits are resigned to poor rail service as more than two million complaints were made in 2016 February 15, 2017 One in five Brits are resigned to poor rail service, with complaints up nearly half a million on last year. There were 2.04m complaints made regarding trains in 2016, according to Ombudsman Services' annual Consumer Action Monitor. The rail sector was responsible for 3.7 per cent of complaints last year, making up more than half of those [...]
Broken-hearted: sales drop at John Lewis on the week before Valentine’s Day February 14, 2017 Sales at retail bellweather John Lewis fell in the second week of February, signalling that the sector may be heading for another poor performance this month after retail sales dropped in January. Total sales at John Lewis for the week to 11 February were £73m, down two per cent on the same week last year. [...]
Pendragon’s boss thinks the others will ultimately agree with his forecasts despite shares falling on full-year figures February 14, 2017 Shares in Pendragon, the UK's largest car dealership, today fell by two per cent – having dropped over five per cent earlier in the day – after the firm revealed its full-year figures. But the FTSE 250 firm's boss steadfastly stuck to his predication that car sales would not fall during 2017. The figures Sales of new cars [...]
Tui losses narrow as it offloads Travelopia to private equity firm KKR for £325m February 14, 2017 Travel firm Tui has agreed to sell its specialist holiday arm Travelopia to private equity firm KKR for an enterprise value of 381m euros (£325m). It announced the sale ahead of its first-quarter results today, where UK holidaymakers' search for sun bolstered bookings, despite weakened demand for Turkey and Egypt after terror attacks and political uncertainty. Tui shares [...]