Sainsbury’s to shutter banking division in ‘food first’ strategy push January 18, 2024 Sainsbury's will undertake a "phased withdrawal" from its banking efforts, the supermarket giant confirmed this morning.
London’s tourist tax: Struggling luxury brands LVMH, Mulberry and Burberry have other problems, too January 17, 2024 Mulberry has fallen out of fashion with investors as shares slumped over four per cent this morning, with the luxury retailers expressing growing concerns about flattening sales and the tourist tax. The British fashion house, best known for its leather handbags, has had around £3bn wiped off its market value in the last five months [...]
Katy Perry fronted Just Eat raise guidance for third time despite falling orders January 17, 2024 Just Eat raise its earnings guidance for the third time this year despite a decline in food orders. Orders fell by seven per cent to €223m (£191m) over the fourth quarter, the Netherland-founded firm said in an update this morning. Analysts at Jefferies said this was -2.6 per cent behind their expectations but noted that [...]
UK nightlife and hospitality ‘teetering on brink’ of collapse as government intervention urged January 17, 2024 The UK’s hospitality and nightlife sector is “teetering on the brink” of collapse, industry voices have warned, after a number of high profile closures have piled pressure on the government to provide more support. Less than a month into the new year, it has been reported that up to 43 hospitality venues across Britain face [...]
JD Sports defends board member and former Amazon director despite shareholder worries about ‘poor attendance’ January 17, 2024 JD Sports has said it is satisfied with the performance of a former Amazon director to its board, after shareholders voiced concerns about their “perceived” poor attendance.
Mitchells and Butler: All Bar One owner lifts guidance as cost pressures ease January 17, 2024 All Bar One owner Mitchells and Butler (M&B) expects profits to be at the top end of forecasts as it cautiously cheered an end to tough cost pressures. The no-frills pub chain, which also owns Toby Carvery, said that like-for-like sales were up 7.7 per cent in the two months to January, over the Christmas [...]
888 shares dive as gambling red tape causes bookie revenue to tumble January 17, 2024 William Hill owner 888 has said a move away from dotcom markets and increased gambling red tape caused a drop in revenues in 2023.
Mulberry blames tourist tax and slowdown in luxury demand for falling sales January 17, 2024 British fashion house Mulberry has blamed a slowdown in demand for luxury spending for a nine per cent decline in sales over the golden quarter.
Seat Unique: Meet the premium ticketing company riding the ‘funflation’ wave January 17, 2024 Robin Sherry, the founder and chief executive of premium tickets provider Seat Unique, says the experience economy is booming.
Superdry drafts in PwC to help with debt after profit warning and sales slump January 16, 2024 Superdry has drafted in advisors to help explore its debt-raising options, following a profit-warning posted last month by the firm.