£3.5m share bonus for outgoing Burberry CEO January 31, 2017 Outgoing Burberry CEO, Christopher Bailey, has received 215,000 shares in the business, with a total value of £3.5m. Bailey is one of a number of Burberry executives that have been awarded performance-contingent share packages in 2017, after the fashion retailer postponed its rewards scheme last year. Burberry’s sales are believed to have benefited from the [...]
MasterCard profits up six per cent in Q4 January 31, 2017 MasterCard, the world’s second largest payments processor, saw revenues decline but profits increase during the final quarter of last year. Net income rose by 4.8 per cent to $933m, compared to $890m 12 months ago. Revenue fell slightly short of analysts’ estimates of $2.79bn, coming in at $2.76bn. Quarterly profits for the three months to [...]
MPs’ gambling report criticised by bookies January 31, 2017 A report into fixed odds betting terminals (FOBTs) has been criticised by bookmakers as a biased inquiry and a threat to jobs. Backed by a cross-party group of MPs, the report has recommended that the maximum stake on FOBTs be reduced from £100 to £2 in a bid to reduce addiction to gambling and antisocial [...]
Diageo investing €25m in new Irish whiskey brand January 31, 2017 The world’s largest spirits producer will launch a new whiskey brand “Roe & Co” in March with bottles expected to retail at around £30. Until a new facility is completed at the company’s Guinness HQ in Dublin, Roe & Co will be produced from whiskies sourced across the firm’s Irish distilleries. The investment marks a [...]
Nintendo profits surge on weaker yen and smartphone success January 31, 2017 The falling yen, the sale of a baseball team, and Pokemon Go revenue, have all offset a decline in sales at the games giant Nintendo. The Japanese firm reported profits of 64.7bn yen (£456m) in the final quarter of last year. Nintendo’s profit outlook almost has almost doubled this year, and it is now expecting [...]
H&M profits get a small boost as new store opening on the cards January 31, 2017 Fashion darling H&M today revealed a small increase in profit after missing estimates for five of the previous six quarters. The figures The Spanish retailer's profits after tax stood at £1.7bn (18.636bn kronor) in the year ending 30 November 2016. Sales in the first 29 days of this month rose 11 percent at constant currency rates, up [...]
Ocado to increase prices this year due to devaluation of sterling January 31, 2017 Ocado has become the latest retailer to say it will be increasing prices this year due to the fall in the value of the pound since the Brexit vote. Speaking to City A.M., Duncan Tatton-Brown, Ocado's chief financial officer, said it was likely that the company would increase prices on certain products "as and when the [...]
Britvic toasts solid start to the year despite “uncertain” environment January 31, 2017 The owner of drinks brands including Robinsons, J20 and Fruit Shoot might have warned that Brexit would cap its fizz last year, but it's announced a strong start to the year in its first quarter results. The figures Revenue for the three months to 25 December 2016 was up 4.3 per cent to £351m, with volume growth of [...]
Ocado’s share price jumps eight per cent at the open on profit surge January 31, 2017 Ocado's share price jumped eight per cent at the open as it reported a spike in profits. The company's full-year profits beat expectations – despite rising labour costs and price deflation throughout last year. The figures In its results for the year ending 27 November, Ocado reported a 13.6 per cent rise in gross retail sales, up from [...]
The final Rolls-Royce Phantom VII has rolled off the production line January 31, 2017 The last Rolls-Royce Phantom – or at least as we know it – will roll off the production ramps in Goodwood this week. Officially decommissioned at the end of last year, Phantom VII's will be replaced by an eighth generation of the Rolls-Royce car by owner BMW. Read more: Rolls-Royce car sales motor to new record [...]