Sears sales fall as bosses warn they have no clue when department store group will return to profit December 8, 2016 US department store chain Sears reported its fifth consecutive quarterly loss today and warned investors it cannot guarantee when it will return to profitability. Total revenue at the retailer fell 14.3 per cent to $5bn (£4bn) in the third quarter, down from $5.8bn in the same period of last year. The drop was driven by [...]
Mulberry profits hit by weak sterling December 8, 2016 Revenues were up in the first half of the year for luxury handbag brand Mulberry – but profits were dented by the weak pound, it said today. The Somerset-based manufacturer said revenues rose 10 per cent to £74.5m in the 26 weeks to the end of September, up from £67.8m the year before – but it [...]
Gin is 2016’s trendiest drink, with sales growing in the UK and beyond December 8, 2016 There's no arguing that 2016 has left many of us needing a drink at the end of the day, and no one has benefited from that more than the UK's gin industry. British consumers drank 1.12bn gin and tonics in the last year, breaking the sector's £1bn sales mark for the first time ever six months [...]
Ladbrokes and William Hill shares plummet as a cross-party group of MPs criticise addictive gambling machines December 8, 2016 Betting companies' shares have fallen after a group of cross-party MPs released a report criticising fixed-odds betting terminals (FOBTs). Ladbrokes shares toppled to a low of 112.02p in early morning trading before rising slightly to 119p, 6.37 per cent down. The drop follows a sharp increase of more than nine per cent yesterday afternoon. William Hill fell to [...]
Tui Group reported growth as it shifts its focus to hotels and cruises December 8, 2016 Tui Group, owner of Thomson and First Choice, reported its second year of strong performance after its merger in 2014. The figures Underlying earnings before interest, taxes and amortisation increased 12.5 per cent to €1.03m, (£875,541), while earnings for the world's biggest tourism operator's continuing operations – without Travelopia – increased 14.5 per cent. Read more: TUI Group shifts focus to let the [...]
A London Christmas Tube map has been created with all the best of the capital’s festive attractions December 8, 2016 Grinches be gone, and festive fans set your eyes on this. A rather spectacular Christmas Tube map has been created to showcase all the best of the capital's Christmas attractions, from the Harry Potter Shop for some last-minute gifts to Fortnum & Mason for swankier presents. There's the Southbank Winter Festival to Christmas at the Imperial [...]
Small Business Saturday spending was up 15 per cent this year to £717m December 8, 2016 Fans of independent shops, rejoice! For Small Business Saturday shows no sign of running out of steam just yet. The fourth annual day was the biggest yet – at least according to new figures from American Express. A survey taken 36 hours following Small Business Saturday on 3 December, found around £717m was spent with small [...]
Sports Direct just bought a new corporate plane for $51.1m despite reporting its profits halved December 8, 2016 Sports Direct announced its profits had halved today, but that didn't stop the company from buying a brand new jet for $51.1m (£40.4m). The new corporate plane will join the company's corporate helicopter, a fleet of vehicles, a Best Western hotel and "several houses in and around Shirebrook" as the company's corporate assets and facilities. Read [...]
Ocado reports sales growth in final quarter December 8, 2016 Ocado has reported growth in sales and order numbers during the 16 weeks to 27 November, with year end sales up 15.1 per cent – but shares in the firm dropped almost four per cent at the market open. The grocery delivery service said group sales were up 14.5 per cent in the fourth quarter, from [...]
Sports Direct shares fall as it unveils 57 per cent profit hit on weak sterling December 8, 2016 Shares in troubled retailer Sports Direct fell as much as six per cent in early trading, after it revealed pre-tax profits had halved in its first half thanks to weak sterling. Underlying profit before tax dropped 57 per cent to £71.6m from £166.4m, it said, while underlying earnings before interest, taxation, depreciation and amortisation fell 33.5 [...]