Not so sunny: Low demand pushed profits down for Caribbean travel group Elegant Hotels January 17, 2017 Elegant Hotels faced a tough year as profits fell during 2016 due to the weak pound and lower demand for luxury accommodation. The figures The Caribbean travel group, which owns six upscale hotels and a beachfront restaurant on Barbados, said revenue was down 5.2 per cent in 2016, at $57m (£46.3m). Adjusted pre-tax profit for year to [...]
Hotel Chocolat’s revenue is up and chief exec Angus Thirlwell is “quietly confident” for the year ahead January 17, 2017 British chocolatier Hotel Chocolat has said it is "quietly confident" for the year ahead after posting increased revenue for the six months to 25 December. The figures Total group revenue for the period was up 16.2 per cent compared with the prior year, or 14.6 per cent on a constant currency basis. The chocolatier opened 10 new stores during [...]
A Christmas sales boost will help Greggs beat expectations in its full-year results January 17, 2017 Pasty maker Greggs announced a strong finish to the year and said its final results will be slightly ahead of previous expectations in a trading update today. The figures Total sales were up seven per cent for the year ended 31 December, while company-managed shop like-for-like sales were up 4.2 per cent. Greggs' share price was up 3.8 per [...]
Popcorn group Propercorn snaffles up £7m investment to help with UK and overseas expansion January 16, 2017 Gourmet popcorn company Propercorn has snaffled a £7m investment from JamJar Investments and Piper Private Equity. The fast-growing popcorn brand, founded in 2011 by Cassandra Stavrou and Ryan Kohn, will use the cash injection to support its plans for growth in the UK and overseas. Propercorn was advised on the investment by London law firm [...]
H&M’s share price falls after sales figures disappoint January 16, 2017 Swedish international clothing retailer H&M's share price fell 2.76 per cent in trading today after it reported disappointing Christmas sales figures. The group's total sales in December rose six per cent year-on-year in local currencies, but analysts had forecast a sales increase of eight per cent. Read more: Bow down, John Lewis – H&M drops a Christmas [...]
Shareholder group hits outs at Sports Direct’s “disappointing” failure to conduct an independent governance review January 16, 2017 Sports Direct is under fire for its failure to find an independent organisation to conduct a review of its corporate governance. The retailer has been pressed by shareholders to shake-up its corporate governance after a string of profit warnings and a parliamentary inquiry that concluded its Shirebrook warehouse was run like a "Victorian workhouse". Read [...]
These are the key trends in retail in 2017 – and who will benefit from them January 16, 2017 The Christmas reporting season isn't over yet – the market is awaiting updates from Dixons Carphone and WH Smith – but the figures that have been reported so far have indicated some of the key retail trends investors should watch out for this year. Read more: Brexit vote boosts Hugo Boss The outlook for the UK consumer [...]
Reiss boosts sales on the back of international expansion January 16, 2017 Reiss, the high-end fashion retailer favoured by the Duchess of Cambridge, reported a robust sales increase over Christmas. In the six weeks to 7 January, sales growth in the UK was 11.6 per cent, which the company said was "driven by like-for-like growth and e-commerce". Read more: Reiss rocks the high street after doubling full-year [...]
Palamon buys a majority stake in colourful Swedish retailer Happy Socks January 16, 2017 Palamon Capital Partners today announced its acquisition of a majority stake in Happy Socks, a leading whimsical sock designer. The European growth investor's transaction valued the Swedish sock company at SEK 725m (£67.1m), with SEK 40m of growth capital to be injected to support the continued expansion of the business, leading to a SEK 765m enterprise value. [...]
Brexit vote boosts Hugo Boss January 16, 2017 Hugo Boss has staged a partial recovery thanks to a sales boost in Britain and China. The German fashion house said its operating profit for 2016 will fall less than expected due to a 20 per cent increase in like-for-like sales in China in the fourth quarter, and a two per cent increase in Europe, which was [...]