Zut alors: World’s oldest wine club The Wine Society provokes backlash from cancelling “booze cruises” as it closes down French showroom October 6, 2016 The Wine Society has been caught in a storm of backlash after closing its showroom in France without proper consultation with members, who will now not be able to go on cross-Channel "booze cruises". Members of the world's oldest wine club were left fuming after the society announced earlier this year that it would be [...]
Dunelm’s share price slides after it says hot weather hit sales October 6, 2016 Home furnishing retailer Dunelm's share price was down 4.37 per cent this morning after the company said hot weather hit sales. In its first quarter trading update, Dunelm reported total revenue fell by 1.8 per cent to £198.7m. Total like-for-like sales were down by 3.8 per cent. Dunelm said: As expected, unusually warm weather had a [...]
Sofa, so good: DFS’ shares climb as it hikes dividend October 6, 2016 DFS' share price was up 2.5 per cent in morning trading after the company announced it will increase its final dividend this year. The sofa seller said the final dividend for the year will be 7.5p per share, up 6.2p from last year, a jump of 21 per cent. Read more: DFS' share price jumps as the company [...]
Yum Brands blames drop in Chinese sales on South China Sea crisis October 5, 2016 KFC parent company Yum Brands said today that its earnings and revenues missed analysts' expectations in the third quarter. Its adjusted earnings per share of $1.09 on revenues of about $3.3bn. Both measures missed analysts' forecasts for $1.10 per share and $3.5bn respectively. Read more: Hungry suitors circle Pizza Hut as owners put the restaurant chain up [...]
As Tesco shares jump after it reported another rise in sales, is the retailer out of the woods? October 5, 2016 Clive Black, head of research at Shore Capital, says Yes. If you go down to the woods today… well, you won’t find Tesco chief executive Dave Lewis. Two years on from a troubled and tortuous analyst meeting, with the business on its knees, the Tesco boss is reporting that the remedial measures introduced to guide the [...]
Japan’s Asahi to bid for SABMiller’s European beers once Megabrew deal closes next week October 5, 2016 Japanese drinks giant Asahi is brewing a more than 500bn yen (£3.8bn) offer for SABMiller's Eastern and Central European beers, according to reports. Local newspaper Nikkei said yesterday Asahi is interested in SABMiller's beer businesses in the Czech Republic, Poland, Slovakia, Romania and Hungary, which include beer brands such as Pilsner Urquell and Lech. Read more: SABMiller [...]
Time Out is close to signing a deal for new “flagship” London food market October 5, 2016 Time Out – the magazine publisher that recently listed on the London junior market – is expected to announce it has leased premises for a London food market in coming weeks, City A.M. understands. The group is close to signing a deal for a location thought to be around Kings Cross, Covent Garden, or Camden. The London food [...]
Constellation Brands lifts full-year guidance after “winning” the 4 July holiday and profit boost from acquisitions October 5, 2016 Shares in the US owner of Corona Extra, Constellation Brands, were up in morning trading New York time after the beer and spirits maker posted better-than-expected second quarter revenues. The figures Net sales grew 17 per cent to $2.02bn (£1.6bn) in the second quarter, while operating income rose 27 per cent to $611m. Constellation's beer brands, [...]
Five new retailers are opening shops in The Royal Exchange October 5, 2016 The Royal Exchange is to become home to five new luxury brands. Aspinal of London, Grind & Co, Orlebar Brown, Halcyon Days and TD Tom Davies are taking space in the Grade I listed building. Oxford Properties bought the 16th century landmark in 2013 and this is the second set of retailers to move in [...]
ASOS boss says “it isn’t very practical” to be like an employer from the Victorian era October 5, 2016 ASOS has kicked back against accusations of poor working practices in its Barnsley warehouse and has said the company looks forward to engaging with the government on the issues surrounding low paid workers. "The picture of an uncaring, secretive and exploiting employer from the Victorian times is false," ASOS said in a statement. "Actually, it isn't practical either. [...]