Flutter shares tumble after World Cup wins knock profit March 2, 2023 The gambling business behind Paddy Power and Betfair saw its shares tumble almost five per cent, after the company missed 2022 earning estimates due to customers winning bets during the Fifa World Cup. Flutter Entertainment, which also owns Sky Betting and Gaming, was predicted earlier this year by Bloomberg analysts to gain EBITDA of £1.7bn [...]
Flutter: US bet pays off as gambling firm revenues rack up to £7.6bn March 2, 2023 The gambling business behind Paddy Power and Betfair saw its sales soar this year as the group gained huge momentum in the US. Flutter Entertainment said it was continuing to go from “strength to strength” in the US market as it saw revenues reach £2.6bn in the year ending 2022. The London-listed group which operates [...]
Selfridges plays down £1.7bn debt concerns saying it is ‘very confident’ about year ahead March 1, 2023 The owners of Selfridges have said they are “very confident” about the outlook for this year as it sought to play down reported concerns that its debt pile, worth over £1.7bn, could cause problems for the luxury department store. The Telegraph reported that the Thai and Austrian owners of Selfridges have laden the firm with [...]
Food shortage: Tesco, Sainsbury’s, Asda, Lidl and Morrisons warn salad will not be on the menu for ‘a few weeks’ March 1, 2023 Brits are being advised to avoid salads for the next “few weeks” as supermarkets have kept restrictions in place on tomatoes, peppers, cucumbers and lettuce. Reports of adverse weather conditions in the Mediterranean has forced Tesco, Sainsbury’s, Asda, Morrisons and Lidl into restricting the sale of produce. This comes after social media users took to [...]
Food inflation reaches 14.5 per cent and looks set to remain high, new data reveals March 1, 2023 Food inflation reached a staggering new high of 14.5 per cent in February, according to new data, with retail groups predicting that prices will continue to rise over the coming months. While inflation more broadly has started to come down, food inflation soared to 14.5 per cent in February, up from 13.8 per cent the [...]
Sainsbury’s: Up to 1,400 jobs could go as overhaul leads to the closure of two depots in Manchester and Essex February 28, 2023 Sainsbury’s has revealed plans to close two Argos depots over the next three years as part an overhaul that expected to impact more than 1,400 jobs. The supermarket giant has confirmed it is aiming to shut its Argos warehouse in Basildon, Essex, and a depot in Heywood, Greater Manchester, by 2026. It said 1,400 jobs [...]
B&M to close four more stores but warns it has ‘nothing to do’ with diminishing high street February 28, 2023 B&M is closing more stores across Britain in the coming weeks, however the discount retailer has warned that it is “nothing to do with the diminishing highstreet”. The retailer, which sells home goods and electronics, will close four stores in total across the UK – having previously announced the closure of two sites. According to [...]
Dalata Hotels’ share price soars after its revenues reach new highs February 28, 2023 Dalata Hotels have seen its share price soar 6.5 per cent this morning at 367 pence after the group saw its revenues reach their highest level since formation. The Irish hotel chain, which launched in 2007, saw its revenues reach €500m (£440m) for the first time since trading in FY22 , as the group continues [...]
‘Total Coke addict’ Rishi Sunak says he’s cut down to drinking one a week February 28, 2023 Rishi Sunak insisted he has cut down to drinking one Coke a week as he visited a Coca-Cola bottling plant. The Prime Minister previously revealed he had a particular taste for Coca-Cola, describing himself as a “total Coke addict” in an interview with two school children in 2019, and that it left him with seven [...]
Ocado not for you: Three reasons why online grocer’s results may not be as bad as they seem February 28, 2023 Ocado’s crown as the online food retailer which keeps the middle classes stocked in organic essentials has been threatening to slip for a while now. As one of the companies which sits at the ‘higher-end’ of the online supermarket price point the rising cost of living, not to mention higher mortgage interest rates, was expected [...]