Ted Baker’s on track for a boost in pre-tax profits October 9, 2016 Brexit blues aren’t expected to hit Ted Baker’s stride anytime soon. The retailer is forecast to post six-month profits in the realms of £19m-£21m – up on £17m for the same time last year. Analysts at Exane BNP Paribas describe it as a brand with “growing desirability”, noting it has delivered stable, consistent growth for nearly 30 [...]
Fast sell-off could be on the cards for 1950s-style casual restaurant chain Ed’s Easy Diner October 8, 2016 Casual dining chain Ed's Easy Diner could imminently be sold off in a quickie sale for as little as £15m, according to reports. The hard-and-fast sale will probably take the form of a pre-pack administration could be announced in the coming days after the group suffered a trading slump over the summer, sources told The [...]
William Hill confirms it is in merger talks with Canadian online gambling group and PokerStars operator Amaya October 8, 2016 Bookmaker William Hill has confirmed it is in talks for an all-share merger worth around £5bn with Canadian online gambling group Amaya. A tie-up of the two groups would "create a clear international leader across online sports betting, poker and casino", William Hill said in a statement today. The bookie said discussions are "ongoing" and there can [...]
Drink up quick: Sterling drop is a “grave” concern for the wine industry which relies almost solely on imports October 7, 2016 Today's crash in the value of sterling may have left many of us wanting to drown our sorrows. But if you're a wine fan, you might want to drink up quick and make sure you stockpile too while you're at it. While Britain might have been dubbed the "beating heart" of the global wine trade, [...]
Government mulling crackdown on bingo adverts and promotions during sporting events in gambling industry clampdown October 7, 2016 The government is planning to expand a review of the gambling sector to include a major crackdown on betting industry advertising on daytime TV, according to reports. The Department for Culture, Media and Sports (DCMS) is looking to extend a review of controversial fixed-odds betting terminals to gambling ads in a bid to curb problem betting and [...]
Mars gobbles up Buffett’s stake in Wrigley chewing gum business October 6, 2016 Mars has bought billionaire investor Warren Buffett's minority stake in its subsidiary Wrigley, giving it full control of the chewing gum company. Buffett's Berkshire Hathaway bought into Wrigley in 2008, spending $2.1bn (£1.7bn) to help Mars buy Wrigley for $23bn. Berkshire had a 19.4 percent stake in the business, the Financial Times reported. Terms of the deal were [...]
Och aye: Brexit vote and film and TV locations lure more Brits to take Scottish staycations October 6, 2016 The Brexit vote and film set locations drove more Britons to take staycations in Scotland this summer, according to data from online travel agent Tripsta. Between 1 June and 31 August several of Scotland's airports reported a surge in the number of passengers who booked domestic flights through Tripsta to explore the country's cities and islands. [...]
William Hill faces protests from union Unite at its shops tomorrow over retail restructuring plan October 6, 2016 Unite protesters will target more than half a dozen William Hill shops tomorrow over restructuring plans the union has dubbed an "attack" on workers' pay. Protests will be staged outside branches in nine locations including central London, Liverpool, Manchester, Leeds and Southampton on plans Unite has said will slash shop managers' pay by an average [...]
Walmart reckons profit will be pretty flat next year – but that’s because it’s investing in digital October 6, 2016 It's not only in the UK that supermarkets are struggling: Walmart, which owns Asda, has released updated profit guidance suggesting profits will be largely flat next year. Ahead of an investor day today the supermarket, the world's third-largest employer, said it expects earnings per share to lie between $4.29 and $4.49 in 2017 – then [...]
Amazon’s unstoppable expansion continues with new warehouse in Northamptonshire October 6, 2016 Amazon has announced plans to open a new warehouse in Daventry, Northamptonshire, in 2017, creating 300 new jobs. The tech giant said it is responding to growing demand for its services and wants to use the opening to offer more products to its customers. Read more: ASOS says "it isn't very practical" to run a warehouse like the Victorians [...]