Drama in the City as Lord Mayor frontrunner pulls out over ‘criminal proceedings’ facing close associate
After strong Christmas trading, Revolution Bars expects to hit its financial targets January 19, 2017 Revolution Bars said cheers to Christmas sales as it anticipates half-year results to 31 December will fall in line with the board's expectations. The figures In a trading update today ahead of its half-year results, the operator of 66 premium bars across the UK said like-for-like sales were up two per cent, while overall sales – [...]
Legendary Entertainment’s chief executive has stepped down to be replaced with a Dalian Wanda insider January 19, 2017 Legendary Entertainment's chief executive Thomas Tull told Reuters today he would step down from the business. The Hollywood studio was bought at the start of last year by Chinese conglomerate Dalian Wanda for $3.5bn (£2.8bn), and now Wanda insider Jack Gao is set to take the top job. Legendary, which has brought films like Jurassic World, The Hangover and [...]
This is the most popular brand in the UK (and it’s not even from here) January 19, 2017 Aldi and Lidl have topped YouGov's ranking for the most popular British brands, beating well-heeled rivals John Lewis and Marks & Spencer. Every week last year YouGov asked a group of consumers whether they had heard good or bad news about the biggest brands in Britain – and the German immigrants came out on top. Read more: Aldi bags [...]
Burberry reports increased retail revenue in third quarter but growth in Americas declines January 18, 2017 Burberry said today its revenues had increased in the three months to 31 December, and it welcomed a return to growth in Asia. The figures Retail revenue was up four per cent on an underlying basis, to £735m, while like-for-like sales went up three per cent. The group said £77m of its £150m share buyback programme [...]
City Pub Company guzzles Christmas sales as it prepares to float this year January 18, 2017 City Pub Company has raised a toast to this Christmas after it nearly doubled like-for-like sales over the five-week festive period. The figures The pub owner and operator said sales for the period to 1 January were up 47 per cent compared with the previous year, while sales for the whole of 2016 were up 37 per cent. It also bagged [...]
Game Digital shares drop after sales fall and cash burn January 18, 2017 Shares in Game Digital flopped over three per cent this morning after the firm revealed "tough" trading in the UK had hit sales. The figures Like many other retailers, Game focuses on its gross transactional value (GTV): effectively the value of sales before any discounts are applied. Reporting its half-year numbers to the end of December, Game [...]
Ladbrokes Coral’s shares are on the up as bad run of results fails to hamper annual performance January 18, 2017 Ladbroke Coral's share price jumped over three per cent this morning after revealing its results are on track to fall in line with expectations. The figures Operating profit is expected to be in the range of £275m-£285m. The formerly separate entity Coral contributed around £179m of this with the original Ladbrokes division generating £101m. The profits [...]
Premier Foods warns on profits (but at least mince pie sales are up) January 18, 2017 Premier Foods has not made an exceedingly good start to 2017 – its shares dived today after it warned on profits. The figures The food manufacturer, whose brands range from Bisto to Mr Kipling and 80s stalwart Angel Delight, said sales in its third quarter were down one per cent at £251.4m, despite a strong December. Branded sales [...]
Despite cost pressures, JD Wetherspoon predicts results will be slightly better than anticipated January 18, 2017 JD Wetherspoon is feeling the pinch as costs are set to rise over the financial year, but chairman Tim Martin said the company is cautiously predicting its results will be slightly better than forecast after positive half-year earnings. The figures In the first half of the year to 15 January, like-for-like sales increased by 3.4 per cent and total sales [...]
Business rates block foreign investment into UK retail January 18, 2017 Sky-high property taxes are making foreign companies think twice about expanding in the UK. Business rates have increased markedly since they were introduced in 1990, and have now become a barrier to foreign investment, according to a new report. A paper from shopping centre owner Intu and shopping centre representative group Revo has recommended business rates [...]