All Bar One owner Mitchells & Butlers’ share price lifts despite drop in full-year sales September 22, 2016 All Bar One owner Mitchells and Butlers has toasted a rise in drinks sales during the summer heatwave, but this hasn't been enough to lift a decline in turnover over the full year. The figures Like-for-like sales in the 51 weeks to 17 September fell by 0.8 per cent, the pub and bar group said today [...]
Start saving: The average cost of a UK wedding has reached a new record high driven by a boom in “mini-moon” breaks and expensive venues September 22, 2016 If you have any weddings left to go to this year you may want to avoid catching the bouquet – unless you have a hefty pile of savings. The average cost of a wedding has reached its highest-ever level, increasing 21 per cent in the last year to a record £25,090, as venue hire and "mini moons" [...]
Slimmed corporate travel budgets have hit London’s hotel sector September 22, 2016 Corporate uncertainty and tight travel budgets took their toll on hotels in the capital during the first half of the year, according to figures from PwC. Occupancy rates are forecast to have declined by 1.8 per cent this year to 81 per cent for London-based hotels and are expected to drop again by 0.8 per cent [...]
Seaside pubs and managed estate give Kent-based group Shepherd Neame something to toast September 21, 2016 Shepherd Neame was raising a toast to its managed pubs and seaside pub sales this morning, as the group posted "record" annual sales and boosted trading at its coastal pubs over the summer. The figures Turnover at the pub group, which is also the UK's oldest brewer, grew by 1.2 per cent to £139.9m in [...]
Sainsbury’s is opening a London fulfilment centre to stop Amazon gobbling up its customers September 21, 2016 Sainsbury's is responding to London's growing hunger for online groceries by opening a new fulfilment centre in the capital. The retailer is expecting its online orders in London to double by 2024, and will meet that demand with a new warehouse in Bromley-by-Bow that can fulfil 25,000 orders per week. In total, the fulfilment centre will [...]
Zara owner Inditex posts sales rise of 11 per cent September 21, 2016 The world's biggest clothing retailer – which owns brands such as Zara, Bershka and Pull & Bear – reported a like-for-like sales rise of 11 per cent this morning. Total sales increased to €10.47bn (£8.99bn) for the period from 1 February to the end of July. Profits jumped eight per cent annually, reaching €1.26bn (£1.08bn). Analysts had [...]
Bonmarche’s shares plunge after company issues profit warning September 21, 2016 Bargain clothes retailer Bonmarche's shares plunged 28 per cent after the company issued a profit warning. The company is lowering its profit forecast for the year to between £5m and £7m after trading in September was "extremely poor." Read more: Bonmarche names new chief executive Bonmarche's fortunes were hit by "unseasonably hot weather", the retailer said, which hampered sales of [...]
In ‘n’ Out Burger: This US cult burger chain will get in and out of the capital with a four hour flash restaurant opening today September 21, 2016 US fast food chain In 'n' Out Burger, which has an almost cult-like following stateside, will be coming to London for just four hours today Between 11am and 3pm In 'n' Out will be making a flash appearance at Brazilian steakhouse Estancia Brasil on Finchley Road, providing a temporary rival to the capital's other burger stalwarts. The premium [...]
West End gets Brexit boost from overseas shoppers as sales to tip over £9bn for the first time September 21, 2016 Overseas shoppers are flocking to the West End to spend their cash since the fall in the value of the pound – and the Brexit boost is set to tip sales for the district over £9bn this year. Jace Tyrrell, chief executive of the West End lobby group New West End Company, says London's premiere shopping district [...]
Party Poker and Foxy Bingo owner GVC Holdings posts record results as Bwin integration steams ahead and company joins FTSE 250 September 20, 2016 Party Poker and Foxy Bingo owner GVC Holdings' stock closed up 6.6 per cent today as the gambling group posted record half-year results and said the integration of Bwin was ahead of schedule. The figures Pro forma net gaming revenue increased eight per cent to €441.8m (£339m) in the six months to 30 June, driven by [...]