Sports Direct’s CFO leaves company after presiding over three profit warnings October 13, 2016 Sports Direct has said this morning that its acting chief financial officer will leave at the end of the year. Matt Pearson became CFO last June and has presided over a tumultuous year for the company, including a parliamentary inquiry into working conditions and wages and three profit warnings. Most recently, the company issued a profit warning [...]
Unilever reports sales growth as it battles ‘tough market’ October 13, 2016 Unilever has reported an uptick in sales during the third quarter of 2016, despite facing what it described as 'tough market conditions'. Underlying sales grew by 3.2 per cent in the quarter, with price up 3.6 per cent and volume dipping by 0.4 per cent. On a constant exchange rate, sales were up by 3.4 per [...]
Tesco is struggling to stock key staples after price row with Unilever October 12, 2016 Tesco boss Dave Lewis is on a collision course with the company where he earned his stripes after the supermarket revealed it was running out of staple products such as Marmite and PG Tips. The supermarket giant said that it was running low on Unilever products and it is understood that this was as a result of [...]
Domino’s Pizza worst FTSE 250 performer as like-for-like sales slowdown takes a bite out of its share price October 12, 2016 Domino's Pizza has been the worst performer in the FTSE 250 so far today after its posted a slowdown in like-for-like sales in its key UK business. The figures Like-for-like growth at the takeway giant's UK store base grew 3.9 per cent to £220.9m in the 13 weeks to 25 September. In the same period of [...]
Sir Philip Green faces a fresh grilling when MPs debate BHS’ collapse next Thursday October 12, 2016 Sir Philip Green faces a fresh grilling from MPs when the House of Commons debates the collapse of BHS next Thursday. City A.M. understands the debate will focus on the BHS pension scheme and the damning report from MPs that labelled Sir Philip Green "the unacceptable face of capitalism". Read more: Sir Philip Green's Mediterranean superyacht renamed [...]
Stock Spirits gulps down three Czech vodka and gin brands Prazska, Nordic Ice and Dynbyl from Bohemia Sekt October 12, 2016 London-listed vodka and liqueur maker Stock Spirits has gulped up three spirits brands from Bohemia Sekt for 135m Czech koruna (£4.5m) in a bid to expand its business in the Czech Republic. Stock Spirits has swallowed up Prazska vodka, Nordic Ice vodka and Dynbyl, the country's best-selling domestic gin. The brands will be distributed and marketed by [...]
Travelodge to create 1,000 permanent jobs in Christmas recruitment drive October 12, 2016 British hotel chain Travelodge is planning to check in 1,000 new members of staff as it launches a Christmas recruitment drive to fill positions at dozens of locations across the country. The budget hotelier is recruiting 160 staff for seven new hotel openings in Finchley, Stockport, East Grinstead, Kings Lynn, Andover and Peterhead. The group [...]
Giraffe Concepts snaps up 1950s-style restaurant chain Ed’s Easy Diner in pre-packaged deal that will result in 379 redundancies October 12, 2016 Giraffe Concepts has snapped up Ed's Easy Diner in a pre-packaged sell-off of the 1950s-style restaurant chain. The purchase includes 33 of the company's 59 restaurants and will result in the immediate closure of 26 restaurants and 379 redundancies. The deal, for an undisclosed sum, also includes the Ed's Easy Diner brand and the group's head [...]
Megabrew: Anheuser-Busch InBev shares rise on Euronext Brussels days after swallowing up SABMiller October 12, 2016 Shares in the world's largest brewer Anheuser-Busch InBev (AB InBev) have risen 1.6 per cent on the Euronext Brussels exchange two days after it swallowed up British drinks giant SABMiller in a £79bn takeover. AB InBev's stock was trading at €115.05 on the Euronext Brussels stock exchange, which is the primary listing for the newly-merged company. Read [...]
“Outstanding performance” in own beer brands boost sales at pub group, lodge operator and brewer Marston’s October 12, 2016 Pub group Marston's was toasting its brewing arm this morning after its own-brand beer volumes registered double-digit growth over the year. The figures The Resolution and Hobgoblin brewer's own beer brands grew 13 per cent in the year ended 1 October, in line with management expectations. Like-for-like sales in Marston's destination and premium pubs were up 2.3 [...]