Strike! Ten Entertainment bucks hospitality trend with ‘record-breaking’ sales year January 11, 2023 Bowling alley operator Ten Entertainment delivered a “record-breaking” year, with sales up almost 90 per cent on 2021 and 50 per cent on pre-pandemic levels. The firm, which operates 48 bowling and social entertainment venues, reported a total sales increase of 87 per cent from 2021, in wake of the pandemic restrictions being lifted. It [...]
JD Sports expects pre-tax profits to top £1bn following Christmas surge January 11, 2023 JD Sports expects to post pre-tax profits of more than £1bn for the year ending on 3 February 2023 after it recorded a Christmas sales surge. The sportswear retailer said a strong performance in the second half of 2022, driven by a surge in sales over Christmas, will see it achieve its financial goals. The [...]
Sadiq Khan hammers Hunt for slashing support for businesses grappling with sky-high energy bills January 9, 2023 Sadiq Khan has urged Hunt to reconsider its plan to drastically cut support in energy bills, fearing an uncertain future for businesses.
Tech chiefs demand pragmatism while retail CEOs go for enthusiasm and City finance bosses value a vision January 9, 2023 As 2023 gets underway the World Cup in Qatar is fast becoming last year’s news. However, for Chris Watt, Managing Partner at ECI Partners, it would be wise for City chiefs to sit back and reflect on the tournament, as there are some lessons to be learnt. Leadership, vision and strategy being the keywords during [...]
Chicken run: Nando’s looks to stave off cost of living with new student discount January 9, 2023 Nando’s has joined the raft of retailers and hospitality firms using discounts to keep stores busy amid a difficult economic climate. The High Street chicken staple has announced its first ever student discount today as inflation, energy bills and a host of other cost pressures continue to eat away at the nation’s disposable income. Last [...]
How a viral TikTok video about Prosecco helped Lidl record its busiest ever sales day January 9, 2023 Emma D’Arcy’s viral TikTok Negroni Sbagliato fad helped budget supermarket Lidl achieve its busiest day of trading in its 28-year history after sales of booze skyrocketed. The discount retailer recorded its busiest day ever on Friday 23rd December following a surge in customers switching over from more expensive rivals. The record trading came as [...]
No crumpets: Warburtons off the shelves at Waitrose for a year after ‘performance’ issues January 8, 2023 AN UNLIKELY corporate row has broken out between Waitrose and Warburtons that has seen the nation’s favourite crumpet pulled from the shelves of the middle class’ supermarket of choice. Waitrose made the call after the Lancashire bakery’s products “didn’t meet our expectations” according to a report in the Telegaph. Warburtons’ chairman James Warburton meanwhile told [...]
Just In-Time! Timpson saves watch repair firm from bankruptcy, and 110 jobs January 6, 2023 High street stalwart Timpson has swooped in to rescue watch and jewellery specialist In-Time from bankruptcy in a move that is set to save more than 100 jobs. Timpson, which provides repairs and engraving services, announced it had bought the firm in a pre-pack sale after administrators were called in to oversee the winding up [...]
Puttshack and Bounce chief: Pubs and restaurants urged to ‘get creative’ instead of expecting government support January 6, 2023 The government can only do so much to help hospitality businesses amid turbulent times, with firms needing to “get creative”, the boss of the Puttshack and Bounce brands, told CityA.M. Pub and restaurant bosses have long been calling for more government to help it charter tumultuous waters, in the form of a VAT cut and [...]
How the Chinese New Year and covid rule changes could give a tourism boost to London’s West End January 6, 2023 London’s West End is looking forward to the return of Chinese tourists this month, after the easing of the nation’s zero-Covid policy – ahead of the Chinese New Year. China has seen a surge in Covid infections in recent months, with EU countries introducing testing requirements for travellers. Travel from and to China will be [...]