Adidas brings in £344m from sale of Yeezy shoes that will aid anti-hate groups August 3, 2023 Adidas brought in €400m (£344.6m) from the first release of Yeezy trainers left over after breaking ties with Ye, the rapper formerly known as Kanye West. The news comes as the German sportswear maker tries to offload the unsold shoes and donate part of the proceeds to groups fighting antisemitism and other forms of hate. [...]
Budweiser maker continues to feel pain of Bud Light boycott August 3, 2023 Budweiser maker AB InBev said its US sales and profits plunged during the second quarter, as Bud Light fell out of favour with customers. Earlier this year, the beer giant chose transgender influencer Dylan Mulvaney to promote the alcoholic drink, sparking outrage from American conservative commentators, celebrities and anti-trans hate groups. The hashtag #BoycottBudLight went [...]
Profits wag for Pets at Home as revenues up 10 per cent thanks to Brits splurging on furry friends August 3, 2023 Pets at Home made a profit during the first quarter with revenues rising 10.2 per cent to £568.2m, as the animal care brand was bolstered by new store openings. The pet store, which operates 453 sites across the UK, said that total group revenue reached £436.8m, up 7.9 per cent when compared to last year, [...]
Next: Retail giant does it again with further profit guidance upgrade August 3, 2023 Next is upgrading its full year guidance for group profit before tax by £10m to £845m, following a strong performance in the second quarter helped by summer sales.
Asda facing £1.2bn bill to 44,000 staff as leaked email piles pressure on pay dispute August 2, 2023 Asda is at risk of losing £1.2bn in historic compensation payouts according to the union representing staff, after a leaked email appeared to strengthen their case today. The email, which was obtained by ITV news, from lawyers Leigh Day compared the knowledge and responsibility of female workers – who traditionally work on shop floors – [...]
Hugo Boss campaigns with Gigi Hadid and Kendall Jenner lift outlook after sales surge August 2, 2023 Hugo Boss has raised its full year outlook following a 20 per cent increase in second quarter sales, after smart advertising campaigns featuring Gigi Hadid and Kendall Jenner. The German fashion house, best known for its men’s colognes, reported a 21 per cent increase in EBIT to €121m (£103m), as plans to rebrand the designer [...]
London Calling! Over two million tourists will visit this year in £674m boost to the capital August 1, 2023 London will welcome more than two million international tourists this year compared to last, bringing an additional £674m to the capital. As travel fully recovers post-pandemic, data from the London mayor’s office, shows that London was the top city in Europe for bed nights in 2022 with an increase of 131.5 per cent in 2021. [...]
Travis Perkins profits slip 31 per cent amid slow down in house building August 1, 2023 Travis Perkins blamed a weak market for its falling revenues as the home improvement retailer struggles to cope with dwindling sales and a tough economic climate. In its half year results, the tools supplier said revenue slipped 2.5 per cent to £2.5bn and adjusted operating profits fell 31 per cent to £112m. A slowdown in [...]
Going out on top: Irn Bru boss to step down after two decades as revenues set to rise August 1, 2023 The chief of Irn Bru maker AG Barr will step down after nearly two decades at the Scottish soft drinks giant. Boss Roger White has plans to exit the firm within the next 12 months, when he and the rest of the board agree on a date. A plan to appoint a successor is underway. [...]
Alcohol duty rise is ‘biggest shake up’ in decades as booze to be taxed by strength August 1, 2023 The price of beer and wine will increase today as part of plans previously set out in the Spring Budget. Chancellor Jeremy Hunt announced the measures as part of the budget back in March, which saw an end to the blanket alcohol duty freeze which was put in place via the Autumn Budget 2020 during [...]