Ladbrokes grows revenue in third quarter as it revs up for Gala Coral deal October 18, 2016 Ladbrokes said today that revenue grew for the fourth consecutive quarter in the three months to 30 September. The bookmaker reported a 12.1 per cent increase in group net revenue in the third quarter, and said it remains on track to meet full-year expectations. The company announced the figures as it prepared to sell off 185 [...]
Burberry shares drop despite reports designer could be in for £125m windfall from sterling decline October 18, 2016 British designer brand Burberry said today that the fall in sterling could help boost its profit for the year by up to £125m – but its share price dropped 6.9 per cent at the open. Sterling has dropped significantly since the UK voted for Brexit in June – and in recent weeks, the pound has [...]
Asos reports soaring sales despite fashion industry woes October 18, 2016 Online fashion giant Asos has reported soaring sales despite the widespread struggles of the fashion industry. The figures Retail sales came in at £1.4bn, up 26 per cent, in the year to 31 August, with £603.8m coming from the UK. Read more: Asos set to bag a Brexit win this week Pre-tax profit for the year [...]
Bets off: William Hill ends merger talks with Canadian online gambling group Amaya October 18, 2016 William Hill’s £4.5bn merger talks with Canada’s Amaya have come to an end. The bookmaker said this morning that it had ended discussions after consulting shareholders. Read more: Ex-William Hill boss says bookie should abandon Amaya merger plans The FTSE 250 company said in a statement: After canvassing views from a number of William Hill's major [...]
Merlin builds on global growth with launch of Dubai Legoland October 17, 2016 Theme park operator Merlin Entertainments is set to open a Legoland park in Dubai at the end of the month. The park will include a Lego model of the world’s tallest building, the Burj Khalifa. Standing at 17 metres tall – compared with the real thing’s 830 meters – the Burj Khalifa model took more than [...]
Pepsi set to suck the sugar out of its drinks October 17, 2016 One of the world’s biggest soft drink producers Pepsi has set itself targets to reduce the amount of sugar in its drinks. The move is part of plans to try and tackle a range of issues, from obesity to climate change. By 2025 Pepsi wants more than 60 per cent of its drinks to have [...]
Brewing up a storm: Sales in craft beer at Tesco soar 130 per cent in a year October 17, 2016 It’s a trend that took off in the UK in the dingy East End of London by bearded men in plaid shirts. But now craft beer has become so popular in pubs across the country that demand at Tesco stores has jumped by 130 per cent in the last year alone. The supermarket started off with [...]
BoyleSports is taking its concerns over the Ladbrokes and Gala Coral sale to the CMA October 17, 2016 BoyleSports isn't very happy with the announcement that Ladbrokes and Gala Coral are selling 359 betting shops to Betfred and Stan James. In fact, it plans to take its concerns to the Competition and Markets Authority (CMA) and review its options on what the next steps are, after its bid for the shops was unsuccessful. Read [...]
The fashion industry is on its steepest decline for seven years October 17, 2016 The fashion market is on its steepest decline for seven years, according to new data, with £700m wiped off the value of the UK market since last year. According to figures from Kantar Worldpanel, sales declined for the fourth month in a row in September as retailers continued to offer huge discounts to consumers. Kantar [...]
Ladbrokes and Gala Coral sell 359 shops as deal nears completion October 17, 2016 Ladbrokes and Gala Coral are selling 359 betting shops between them, in order to satisfy conditions set by the Competition and Markets Authority (CMA) ahead of their merger. The CMA ordered the bookmakers to sell up shops earlier this year, in order to maintain competition in the market when the two groups combine, in a [...]