Fuller’s profit slides following sale of beer business December 12, 2019 Fuller, Smith & Turner reported a fall in profit before tax for the first half, but revenue for the pub group rose slightly amid “good performance” from its managed pubs and hotels. Statutory pre-tax profit for the six months to 28 September decreased 27 per cent to £11.1m, down from £15.1m the previous year. Read [...]
Superdry boss takes swipe at Black Friday as he launches brand revamp December 12, 2019 Superdry boss Julian Dunkerton today blasted the “madness” of blanket Black Friday discounting, vowing to reduce his company’s reliance on the sales bonanza next year. Dunkerton, who founded the struggling fashion chain in 2003, took a swipe at his rivals’ practice of slashing prices on their core ranges. Read more: Superdry swings to a £4.2m [...]
Superdry swings to £4.2m loss as Dunkerton hits reset button December 12, 2019 Superdry’s swung to a £4.2m loss in its first half-year results under co-founder Julian Dunkerton since his return to the helm, the firm revealed today. Read more: Saga appoints ex-Superdry boss Euan Sutherland as new CEO The figures Superdry witnessed underlying profits implode as they sank 98.4 per cent year on year to just £200,000 [...]
Takeaway extends Just Eat takeover offer as it secures a slice of the vote December 12, 2019 Takeaway.com today said it has secured support for its Just Eat takeover offer from a chunk of shareholders, as it flexed its muscles amid a frantic bidding war with Prosus. The Dutch food delivery firm has tabled an all-share offer worth roughly £4.3bn, which has been recommended by the Just Eat board. Read more: Just [...]
Dixons Carphone narrows losses as turnaround stings retailer December 12, 2019 Dixons Carphone narrowed losses in its latest half-year performance but a turnaround strategy took its toll on profits, the mobile phone seller revealed today. Read more: Dixons Carphone suffers investor backlash over pay The figures Dixons Carphone pared its loss before tax back to £86m, from a deep loss of £440m this time last year. [...]
Ocado joint venture with Marks & Spencer ‘working well’ December 12, 2019 Ocado has said its joint venture with Marks & Spencer is “working well,” as the retail delivery giant said revenue growth slowed slightly in its latest quarter. The firm saw growth in weekly orders, but stable average order size for the 13 weeks to 1 December. Read more: Ocado sales growth accelerates after Andover fire [...]
PZ Cussons chief executive quits as ‘challenging market conditions’ hit UK profit December 12, 2019 The chief executive of PZ Cussons has called time on his 13-year reign at the consumer healthcare manufacturer, as the company blamed “challenging market conditions” for a decline in first-half profit. Alex Kanellis said he would retire from the role on 31 January after being with the firm since 1993, and chief executive since 2006. [...]
Has-beans? What Chilango’s CVA tells us about the struggling casual dining sector December 11, 2019 Mexican chain Chilango offers its customers a choice between three different types of salsa: mild, medium, or hot. Faced with those options, who chooses the middle one? This is – in a way – the conundrum facing the increasingly polarised casual dining sector. Nowadays, customers either want fast, cheap fuel, or they want a quality [...]
Aberdeen Standard offloads largest property fund asset December 11, 2019 Aberdeen Standard Investments has offloaded the biggest asset in its property fund following a spike in investor redemptions. The asset management giant has sold The Moor shopping centre in Sheffield to New River real estate investment trust, after putting it on the market with an £89.4m price tag. Read more: Debate: Should illiquid assets be [...]
Supercuts secures rescue deal December 11, 2019 Budget hair salon chain Supercuts has secured a rescue deal, in a move that will save more than 1,000 jobs. Bushell Investment Group, owned by entrepreneur Lee Bushell, supported a management buy-out of the business and assets of Supercuts owner Regis UK. Around 60 sites are expected to close as part of the deal, with [...]