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 [...]
Airbnb host management service Hostmaker closes $1m funding round to expand further into Europe September 20, 2016 Piggybacking on the success of the booming sharing economy, Airbnb hospitality management service Hostmaker has closed a $1.1m (£843m) funding round to "turbocharge" its international expansion. Hostmaker will use the funds, raised by Initial Capital, DN Capital and DSG Consumer Partners, to launch and design new technology for guest communication and to move into more European [...]
Marriott International’s takeover of Starwood Hotels & Resorts to close this week after Chinese ministry of commerce gives green light September 20, 2016 Marriott International’s takeover of rival Starwood Hotels & Resorts Worldwide is set to complete this week after China’s antitrust authority granted approval for the $13.6bn (£10.4bn) merger today. The Chinese ministry of commerce was the only regulator pending approval for the tie-up, after the hospitality giants secured premerger green lights from more than 40 other [...]
Sports Direct share price rises on news of independent corporate governance review September 20, 2016 Sports Direct's share price has risen on news the embattled retailer has bowed to calls from investors for an independent review of corporate governance and working practices. The retailer initially insisted on using its own law firm, RPC, to conduct the review – but has now said it is willing to make it completely independent. The retailer's [...]
SeaWorld Entertainment Inc’s share price sinks as group calls halt to dividend breeding programme September 20, 2016 SeaWorld investors weren't having a whale of a time today as the company's stock sunk 6.15 per cent in pre-market trading after it slashed its dividend by more than half. In a statement yesterday, SeaWorld Entertainment Inc said its dividend payout was plunging in depth to 10 cents per share, down from 21 cents per share previously. Instead [...]