PZ Cussons boss: ‘Most challenging external environment many of us have seen’ April 13, 2022 Imperial Leather owner PZ Cussons has seen revenue growth boosted in the third quarter, despite Brits buying less hand sanitiser now. In a trading update on Wednesday morning, the personal healthcare giant said its third quarter like-for-like revenue growth was 8.5 per cent. The FTSE 250 firm, which owns brands including Carex and St Tropez, [...]
Ted Baker: US private equity firm Sycamore will join formal sales process for fashion chain April 13, 2022 Ted Baker has given confirmation that New York-based suitor Sycamore will take part in a formal sales process. The retailer had previously rejected a number of bids from the US private equity firm, claiming their proposals had significantly undervalued the high street fashion chain. The announcement does not mean that Sycamore will certainly throw its [...]
Tesco profit surges but bosses warn of sky-high inflation side effects April 13, 2022 Tesco has rebounded from the pandemic with a 65 per cent boost in operating profit, climbing to £2.56bn for the full-year.
Inflation reaches 7 per cent as Brits fear cost of living crisis April 13, 2022 The Consumer Prices Index (CPI) rose seven per cent in the year to March, with Brits braced for sky-high price hikes across essential bills this spring. According to figures published by the Office for National Statistics (ONS) today, the largest contributions to the increase came from motor fuels, with no large offsetting downward contributions. The [...]
LVMH continues to ride cash-splurging wave for luxury goods as revenue jumps a third April 12, 2022 LVMH has continued to ride the pandemic-era wave of consumers splurging extra cash on luxury goods, as opposed to jetting away overseas. Revenue jumped nearly a third to €18bn (£15bn) in the first quarter of this year, in comparison with €13.9bn in 2021 – with fashion and leather products leading the way. Such goods hit [...]
Punch Taverns founder: Hospitality will be ‘almost completely uninvestable’ should Covid restrictions return April 12, 2022 Pizza Express guru Hugh Osmond has said the hospitality industry will be “almost completely uninvestable” if it is put in a position where the government can completely shut it down in future virus outbreaks. The Punch Taverns founder is part of a coalition, with Night Time Industry Association boss Michael Kill and Greater Manchester night [...]
Morrisons slapped with ‘speculative’ rating after takeover leaves chain saddled with debt April 12, 2022 Morrisons has been slapped with a ‘speculative’ rating by a top credit agency after the private equity takeover of the chain last year left it saddled with debt.
Waitrose left with £4m hole in pocket after brief deal with online partner April 12, 2022 Supermarket Waitrose is owed some £4m after a four-month partnership with an insolvent venture launched by an Ocado founder. According to a report in The Times newspaper, Waitrose is the second-largest trade creditor of online grocery business Today Development Partners, which collapsed last month. This was laid out in a progress report by administrators at [...]
Deliveroo orders continue to rise but diners spend less on food deliveries April 12, 2022 Deliveroo has seen its order numbers continue to swell, despite shoppers adding fewer dishes to baskets on the other side of Covid lockdowns. In a trading update published on Tuesday, the food delivery titan said growth in orders stood at 18 per cent year-on-year. Orders hit 82.4m in the first quarter of the year, up [...]
Asos swings to loss as fashion giant warns shoppers may cut back on purchases April 12, 2022 Online fashion giant Asos has said it was hammered by reduced stock availability as it posted a £15.8m pre-tax loss for the six months to the end of February. The company cited “industry-wide supply chain constraints impacting stock availability and ongoing Covid-19 restrictions.” In half year results on Tuesday, the retailer posted four per cent [...]