Morrisons: Revenue creeps up as private equity-owned supermarket fights debt pile January 31, 2024 Earnings at private equity-owned Morrisons have laid largely flat for the year, according to an update by the supermarket. Revenues excluding fuel topped however £14.9bn in the 2022/23 financial year up just 2.9 per cent the year before. Like-for-like sales also only managed to climb 1.8 per cent. Additionally, full year EBITDA crawled up 6.5 [...]
IKEA to open new stores as UK profits more than double January 31, 2024 IKEA's UK profits more than doubled during its latest financial year as it sets it sights on opening new stores.
Oak Furnitureland slumps to £32m loss as rising costs bite January 31, 2024 Oak Furnitureland slumped to a loss of almost £32m during its latest financial year, newly-filed documents have revealed.
Gusbourne sales boosted as Brits still splashing out on designer sparkling wine January 31, 2024 Despite economic woes, customers still wanted to splash out on a bottle of Pinot Noir and Rose, with Gusbourne reporting a 26 per cent rise in direct consumer sales.
Farfetch applies to appoint UK administrator as investors fight Coupang takeover January 30, 2024 The directors of online luxury goods retailer Farfetch have applied to the English High Court with an application to appoint an administrator.
Morrisons sells forecourts arm to group under same PE owner in £2.5bn deal January 30, 2024 Supermarket Morrisons has completed a £2.5bn deal to sell its 347 petrol stations to Motor Fuel Group (MFG). Both Morrisons and MFG are owned by Clayton Dubilier & Rice (CD&R), the American private equity firm who bought the supermarket three years ago. As part of the transaction Morrisons will take a minority stake of approximately [...]
Diageo GB chief: ‘Guin-fluencers’ and the Six Nations will give us a big boost January 30, 2024 A combination of more diverse audiences, the Six Nations, and socia media are keeping Diageo's home market in fine fettle
Upper Crust: Owner backs guidance but warns of potential hit from train strikes January 30, 2024 Upper Crust owner SSP today reported strong sales boosted by a resilient demand for air and train travel, but warned of a potential future hit from ongoing train strikes.
Mortgage approvals hit six month high in fresh boost for house buyers January 30, 2024 Mortgage approvals rose again last month and climbed to the highest level in six months, in the latest signal that lower borrowing costs are helping aid recovery in the property market. New figures from the Bank of England show the number of buyers receiving a green light grew from 49,300 in November to 50,500 in [...]
Pets at Home issues profit warning after retail sales fail to grow as predicted January 30, 2024 Pets at Home has warned its profits will not be as high as previously forecast after its retail sales faulted.