Surely it was only a matter of time? Motorpoint breaks ranks and reveals Brexit impact November 29, 2016 Car dealer Motorpoint's share price fell three per cent this morning after blaming a "disappointing" first half of the year on the Brexit vote. The figures Revenue jumped 11.5 per cent to £408.9m in the six months to September. But operating profits flopped nearly a third – down from £10.3m to £7.0m. Motorpoint managed to keep its [...]
Merlin Entertainments reports strong Halloween period and says it’s on track to meet profit expectations in 2016 November 29, 2016 Alton Towers owner Merlin Entertainments said it's on track to grow profits and meet expectations for this year, in a trading update published this morning. The leisure group said its theme parks operating group "enjoyed a strong Halloween period", which was helped by good weather. In its midway attractions operating group, underlying trading has remained consistent with [...]
Shoppers spent over £2bn using Visa cards on Black Friday November 29, 2016 UK shoppers spent more than £2bn using Visa cards on Black Friday this year. The figure was up 13 per cent on last year's, and half of the spend was made online. Visa said that there has also been a strong uptake in contactless payments, across all age groups. Among those aged between 55 and [...]
Competition led sales to fall at one of the US’s first craft breweries. What’s next for the UK’s craft beer market? November 28, 2016 A major craft brewery in the United States reported sales were down as new craft beers crowd the market, but microbrewers in the UK shouldn’t worry, according to the Society of Independent Brewers. D.L. Geary Brewing Co., founded in 1983, was the first craft brewer in Portland, Maine, helping start the craft beer trend take off in [...]
Forget John Lewis – Wes Anderson has done a Christmas ad for H&M and people are going crazy about it November 28, 2016 Bow down, John Lewis, your ad has been well and truly trumped by this festive treat from H&M. Read more: Heartwarming and full of plot holes: Our review of John Lewis' Christmas ad The Swedish retailer has gone the extra mile and enlisted genius filmmaker Wes Anderson for its ad, titled "Come Together". Anderson has created [...]
Bingo! Stride Gaming sets its sights on further acquisitions after establishing a strong platform for growth November 28, 2016 Stride Gaming has hit the jackpot with recent acquisitions and strong organic growth adding up to revenue growth in its year-end results. The group will look for further acquisitions in the new financial year. The figures The bingo group's net gaming revenue increased 22 per cent to £47.8m, while profit before tax fell to £131,000 from £360,000 in 2015. Yield [...]
Thomas Cook reveals €300m bond raise in the hope of reducing core facilities by £200m November 28, 2016 Thomas Cook today revealed plans for a new corporate bond to raise at least €300m (£256m) in an attempt to strengthen its balance sheet. The travel group has a hefty £1bn on corporate bonds currently placed on the market and plans to use the latest issuance to fund repayment of £200m of bonds which mature in 2017 [...]
Nooooo-el: Christmas pudding prices set to soar this year November 28, 2016 Don’t expect too many coins in your Christmas pudding this year. The likelihood is your chef will be keeping their money to themselves after an increased outlay on the dessert. The price of Christmas puddings is likely to be ramped up as a result of rising raisin, sugar, butter and wheat prices. Overall, the costs of [...]
Sports Direct accounts probe announced by watchdog November 28, 2016 The accountancy watchdog has today launched an investigation into Sports Direct, probing into claims surrounding the relationship between the retailer and a firm run by chief exec and founder Mike Ashley's brother. In particular, the Financial Reporting Council (FRC) is taking a closer look at the accounts for the 52 weeks to 24 April and whether [...]
JD Sports share price rises as it announces Go Outdoors Topco acquisition November 28, 2016 Shares in JD Sports were up three per cent mid-morning after the retailer announced it had bought outdoor pursuits chain Go Outdoors. JD Sports paid £112.3m cash consideration, and has assumed net debt of around £16m as part of the transaction, which it had been pursuing for months. The retailer said the deal will complement [...]