Food delivery share prices could ‘meaningfully recover’ next year as firms approach profitability July 27, 2022 While food delivery stocks have experienced turbulence lately, the Royal Bank of Canada said there was potential for shares to “meaningfully recover” as start-ups approach profitability. Former City darlings Deliveroo and Just Eat Takeaway have seen their share prices plummet by some 72 per cent and 77 per cent in the past year, despite blockbuster [...]
Visa hails return of travel as revenues fly to £6bn July 27, 2022 Bosses at payments giant Visa hailed the return of travel yesterday as a rebound in summer holidays helped push revenues up 19 per cent in the third quarter of the year.
McDonald’s hikes price of cheeseburger for first time in over 14 years July 27, 2022 McDonald’s has announced it is raising the price of its signature cheeseburger for the first time in 14 years, as cost increases continue to bite consumers and businesses. In a note to fast-food fans, the US titan said that “today’s pressures mean, like many, we’re having to make some tough choices about our prices.” It [...]
Marston’s: No ‘discernible change’ to pub chain sales amid cost of living crunch yet July 27, 2022 Marston’s has said there has been no dramatic change in punter sales at the pub chain since the cost of living crisis. In a trading update for the 42 weeks to 23 July 2022, the pub chain acknowledged sales were two per cent below 2019 levels. However, the pub chain put this down to the [...]
Revenue dips for musicMagpie as pandemic boom fades and belts tightened July 27, 2022 Shares dropped nine per cent in early morning trading for musicMagpie after the circular economy firm reported how squeezed wallets were cutting into profits and margins.
Further price rises loom over shoppers after Coca Cola and Unilever reveal hikes July 27, 2022 Shoppers are set to face further wounding price increases in the coming months, as some of the world’s largest consumer goods giants admit that more cost hikes will be passed on to shoppers. Retail chiefs have warned more price increases are on the way, with the British Retail Consortium (BRC)’s Helen Dickinson admitting households and [...]
Movie magic: Everyman cinemas continue to outshine pre-pandemic levels July 27, 2022 Everyman Media Group continues to outshine pre-pandemic levels as movie-goers continue to flock to the big screens.
THG and SoftBank scrap options for $1.6bn investment in e-commerce emporium July 26, 2022 E-commerce giant THG has cancelled its partnership with a division of SoftBank, citing “global macroeconomic conditions.” A call option with the Japanese conglomerate to pump an extra $1.6bn into technology unit THG Ingenuity has been scrapped and will “cease to be capable” of being exercised. An option and collaboration agreement was terminated by mutual agreement [...]
JD Sports set to announce former B&Q executive as new CEO July 26, 2022 A former boss at B&Q is being touted to take the reins at JD Sports Fashion to replace the brand’s long-term CEO who stepped down over board disagreements. Frenchman Regis Schultz is set to take over at the sportswear fashion giant according to Sky News’ Mark Kleinman. City sources said the agreement could be signed [...]
Scorching summer boosts grocery sales but volumes dip amid cost of living crunch July 26, 2022 Total till grocery sales were elevated this month as sweltering summer temperatures encouraged shoppers to spend more at the supermarket. According to NielsenIQ data, total till grocery sales were up 4.4 per cent in the four weeks to 16 July, with sales up 5.6 per cent in the last week when scorching weather started. Price [...]