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 [...]
Brits’ growing taste for Guinness – and price hikes – drive Diageo forward August 1, 2023 Rising sales of Guinness in the UK, and global price hikes and premiumisation, drove drinks giant Diageo forward
Domino’s Pizza delivers hot half year results as it opens 29 new stores August 1, 2023 Domino’s Pizza Group has benefited from a bleak winter with UK and Ireland stuffed-crust lovers staying in and ordering cheesy slices, as the chain adds more stores around the country. The pizza delivery company has reported a 19.6 per cent rise in revenue to £332.9m, up from £278.3m in the first half year ended 25 [...]
Greggs: Evening sales and travel hubs send baker’s sales soaring August 1, 2023 Greggs recorded total sales of £844m in its interim results, up from £694m compared to the same period last year.
Food inflation slumps to lowest level this year but experts caution against declaring victory yet August 1, 2023 Food inflation has slipped to its lowest level this year and has fallen for the third month in a row, an encouraging signal that suggests the UK is through the worst of the cost of living crisis, a new survey out today shows. The cost of groceries climbed 13.4 per cent over the year to [...]
Tortilla boss remains ‘quietly confident’ despite investment and Brexit challenges July 31, 2023 The boss of fast-food Mexican chain Tortilla, Richard Morris, has said that soaring costs and a tumultuous two years for restaurants has led the sector to be hit “quite badly” from a lack of investment. Tortilla, which serves lunchtime burritos and salads, floated in 2021 on London’s junior AIM market, as part of a five [...]
Retailers in trouble as 51 per cent of punters cut back on clothes shopping July 31, 2023 Retail and hospitality industries continue to be bruised by the UK’s cost of living crisis as 59 per cent of people have cut their spending on eating out and a further 51 per cent have cut spending on clothing. As Brits continue to watch their pennies amid high inflation, figures from Oxera show that in [...]
Argos ‘well positioned’ to face Amazon challenge amid transformation, says boss July 31, 2023 Argos is “well positioned” to face up to the challenge of Amazon and other online retail giants, according to bosses at parent firm Sainsbury’s. Paula Nickolds, the boss of the grocery giant’s general merchandise business including Argos, said the retail brand has maintained its “strong emotional bond with customers” despite changes to its operations amid shifting consumer habits. It comes as the high street stalwart marks 50 years since it was founded by Richard Thompson [...]