Flutter mulls spinning off Fan Duel sports betting brand in US March 14, 2021 Paddy Power owned Flutter is mulling spinning off its Fan Duel brand in order to capitalise on the growing US sports betting market. Over the weekend the FTSE 100 firm confirmed it was looking at listing part of the brand on a US exchange, it was reported. Having first invested in Fan Duel in 2018, [...]
Hollywood Bowl taps investors for £30m to expand in UK March 12, 2021 Hollywood Bowl has successfully tapped investors for £30m, which it will use to invest in its chain of UK bowling alleys. The leisure firm this morning completed a share placing to raise the cash ahead of its reopening date. Hollywood Bowl will use the proceeds of the raise to invest in its new centre pipeline, [...]
John Lewis to close more stores in places ‘where people aren’t going’ after it lost £517m in 2020 March 12, 2021 John Lewis to close more stores in places 'where people aren't going' after it lost £517m in 2020
Burberry shares jump as fashion brand expects to beat profit and revenue forecasts March 12, 2021 Burberry’s share price jumped this morning after the British fashion brand announced revenue and profit are expected to beat previous forecasts. The luxury goods giant said there had been a strong rebound in trading since December and store retail sales in the fourth quarter of the financial year will be between 28 to 32 per [...]
Hammerson widens losses as pandemic wipes £2bn off portfolio value March 12, 2021 Retail landlord Hammerson this morning posted a £1.7bn loss for last year, after the coronavirus pandemic wiped £2bn off the value of its property portfolio. Hammerson, which owns Birmingham’s Bullring Shopping Centre, said losses widened from £781m in 2019 to £1.7bn last year, primarily due to falling property values. Its portfolio value at the end [...]
Branston pickle, Cadbury flake and crumpets among top five UK exports expats craved during pandemic March 11, 2021 Demand for UK food from exporter British Corner Shop surges in US amid revenue rise by 150 per cent
Consumer business leaders to ramp up cost-cutting measures this year, survey finds March 11, 2021 The economic pain caused by the pandemic is set to continue in the consumer business sector, as most bosses said they will continue to cut costs for the foreseeable future. Research showed that 73 per cent of chief executives and chief financial officers are planning to ramp up cost reduction programmes this year due to [...]
Oxford Street: This is what the UK’s shopping destination could look like after lockdown March 11, 2021 Oxford Street – the world famous shopping destination that attracts millions of Londoners and tourists every year – is set to look drastically different when the city emerges from the latest coronavirus lockdown. An arts centre, 25 metre artificial hill and play areas in bus lanes are among the ideas that have been floated to [...]
Playtech swings to €73m loss as lockdown hits casinos March 11, 2021 Gambling software group Playtech swung to a €73m (£62.5m) loss last year as coronavirus lockdowns shuttered casinos across Europe. The FTSE 250 firm’s loss compared to a €55.9m profit in the previous year. Revenue dropped by a quarter to just over €1bn. Shares in Playtech dropped almost three per cent in morning trading. The downbeat [...]
Ted Baker bags licences to expand into Middle East, North Africa and Indonesia March 11, 2021 Ted Baker said this morning it has secured two 10-year long territory license deals, in a bid to grow further into the Middle East, North Africa and Indonesia. The retailer has extended its pre-existing Al-Futtaim agreement for retail, which now includes e-commerce rights in the Middle East and North Africa (MENA), after operating its retail [...]