Domino’s Pizza UK franchisee posts subdued profit amid inflationary crunch August 2, 2022 Domino’s Pizza has taken a hit to pre-tax profit in the first half of the year thanks to the heightened costs of food. The London-listed company posted profit of £50.9m for the six months to 26 June, a 16 per cent drop in profit versus the previous year. The firm said it began passing on [...]
JD Sports appoints former B&Q exec as CEO August 2, 2022 JD Sports has named former B&Q executive Régis Schultz as new CEO, as the sportswear retailer hopes to put a slew of negative headlines behind it. Schultz is anticipated to join the London-listed retailer in September, with interim boss Kath Smith to resume her former role as a senior independent director on the board. He [...]
Flat profit for Greggs as bakery chain vows not to shrink size of sausage rolls August 2, 2022 Sausage roll maker Greggs has posted flat profit after the return of pre-pandemic tax rates and heightened costs. In half-year results, the bakery chain posted pre-tax profit of £55.8m, up just slightly from the £55.5m posted in the first half of 2021. The London-listed chain said this was reflective of the re-introduction of business rates, [...]
Winging it: Chicken supplies set to remain tight while KFC warns of shortages August 1, 2022 Chicken supplies are set to remain tight across the country, a report has cautioned, amid reports of KFC preparing to run out of stock of certain chicken items. High street staple KFC warned staff in a memo last week that supplies of chicken on the bone were among items running low, The Sun reported. KFC [...]
Greggs’ plans to sell hot food into early hours at Leicester Sq flagship thwarted by council August 1, 2022 Greggs’ plans to sell hot food into the early hours of the morning at its Leicester Square flagship site have been knocked back. Westminster City Council blocked an application for the West End store to sell hot food – such as its chicken goujons – and hot drinks until 5am, citing concerns of the Met [...]
History makers to record breakers: 17.4m tuned in to BBC coverage of Lionesses’ Euro triumph August 1, 2022 A record 17.4m Brits tuned in to watch the Lionesses beat Germany 2-1 in the Women’s Euro 2022 final at Wembley on Sunday. The BBC’s peak audience shattered TV viewing records, making it the most-watched women’s football game on UK television history. It was also the single-most watched programme of 2022 so far, while Germany [...]
OnTheMarket CFO to depart role next year as property platform revenue booms August 1, 2022 Property search platform OnTheMarket has announced its chief financial office will be leaving the firm early next year. Clive Beattie has resigned from his position at the London-listed company to pursue another company, OnTheMarket infomed investors on Monday morning. The board has appointed consulting firm Korn Ferry to kick start a recruitment drive for a [...]
Heineken sales elevated as beer drinkers brush off price increases August 1, 2022 Brewer Heineken has seen beer sales leap in the first half of the year, despite growing pressures on consumers’ budgets. The drinks behemoth had seen “demand resilient until now despite mounting inflationary pressures on consumers’ disposable income,” according to Heineken chairman and CEO Dolf Van Den Brink. However, the brewer warned increasing costs meant it [...]
JD Sports sells Footasylum to private equity firm after watchdog crackdown August 1, 2022 Trainer seller JD Sports has inked a deal to hand over Footasylum to Aurelius Group for £37.5m, following competition concerns. In recent weeks, JD Sports had been rumoured to be in talks with the German private equity group about selling the high street brand, which it attempted to takeover in 2019. JD said the sale [...]
23m Brits on £2.4bn spending spree today as the nation tunes in for the Women’s Euro final July 31, 2022 Nearly 23m Brits are expected to spend money today as they will be celebrating England Women’s first appearance in a major football final since 2009. The EURO final today is expected to generate an average spend per person of over £46.08 before, during and after the match with the top purchases being food delivery (62%), [...]