All Bar One owner Mitchells & Butlers has drop in sales amid ‘major challenges’ from inflation July 21, 2022 All Bar One owner Mitchells & Butlers continue to face a “major challenge” due to the impact of the pandemic and ongoing inflation rises. The retailer experienced a drop in sales by 1.6 per cent in the year to date, claiming a mixture of the Jubilee weekend, industrial action and hot weather saw people go [...]
Mike Ashley’s Frasers Group posts record profits as retailer’s revenues surge July 21, 2022 Frasers Group today posted “record” pre-tax profits after the group’s revenues grew 30.9 per cent, to heights of £4.75bn. The revenue growth saw Mike Ashley’s retail conglomerate post “record” adjusted profits before tax of £344.8m. The record results come after the firm posted pre-tax profits of just £8.5m in 2021, due to the impacts of [...]
Franco Manca owner’s revenue soars over 100 per cent with post-lockdown demand July 21, 2022 Revenue at Fulham Shore, which owns Franco Manca and The Real Greek, has soared more than 100 per cent in the post-lockdown march back to restaurant dining. The London-listed hospitality giant mas made an operating profit of £6.7m in the year to 27 March, swinging from a £4.8m loss in 2021. Fulham Shore has unveiled [...]
JD Sports talks Footasylum sale with Aurelius Group amid watchdog order July 20, 2022 FTSE 100 retailer JD Sports Fashion is looking to sell up its Footasylum chain to the Aurelius Group following months of talks with the UK competition watchdog.
Royal Mail losing £1m a day as pandemic postal boom subsides July 20, 2022 Royal Mail Group chiefs said its flagship postal service was haemorrhaging £1m a day today as revenues across the group slumped 5.1 per cent in the first quarter of the year as the pandemic postal boom subsides.
Argos shoppers and staff accuse retailer of ‘pink washing’ over lack of gender-neutral ‘Mx’ option July 20, 2022 Sainsbury’s Argos brand has been criticised for not including gender-neutral options online, with almost 12,000 people signing a petition in protest. Argos has previously told customers it will add an “Mx” option to the title section of the catalogue retailers’ online forms. Supermarket Sainsbury’s already offers Mx on its forms. However, the retailer has since [...]
Restaurateurs grapple with food costs as dairy prices spike July 20, 2022 Restaurateurs are being forced to fork out more and more to create Brits’ favourite dishes, with the sharpest price hikes among dairy, grains and meat. Dairy costs have surged the most, with increases of up to 40 per cent, according to data from around one thousand pubs and restaurants collected by Fourth. Grains, including pasta [...]
Sale of swimming pools and paddleboards skyrocket by 200 per cent as heatwave intensifies July 20, 2022 There has been an increase in sales of swimming pools by more than 210 per cent due to the heatwave. Lee Bagnall, CEO of GO Outdoors, shared with City A.M. this morning that over the past week his company has seen sales of outdoor living equipment soar, in response to the current heatwave that’s sweeping [...]
Last orders? Bittersweet summer for pubs as rising costs out-shadow post-pandemic demand July 20, 2022 Packed beer gardens herald the arrival of summer in Britain. For publicans, this summer presents a chance to rebuild after two years’ of Covid-19 restrictions battering trade. Yet, with inflation surpassing 40-year highs and strike action threatening to severe revellers’ passages into city centres, will publicans be able to make up for those long, lost [...]
Consumers turn to instant noodles in cost of living crunch, says Premier Foods boss July 20, 2022 Shoppers are increasingly turning to budget meals amid the cost of living crisis in the UK, the boss of consumer goods giant Premier Foods said today. The popularity of its instant ramen brands Nissin and Batchelors, which own Cup Noodle and Super Noodles respectively, in the second quarter of this year have jumped, as household [...]