Gambling stocks fall as watchdog mulls capping online slots bets February 13, 2020 Shares in gambling firms fell today after the industry watchdog told MPs that it was considering capping the amount punters can bet online. FTSE 250 betting firms William Hill dropped 6.2 per cent today, and GVC Holdings fell 5.7 per cent. 888 Holdings also fell 1.5 per cent, but Rank Group however bucked the trend, [...]
Conservative MPs call for a cut in beer duty February 13, 2020 Conservative MPs have signed a letter imploring the Chancellor Sajid Javid to cut beer duty. Chairman of the All-Parliamentary Beer Group, Mike Wood and Sheryll Murray, MP for South East Cornwall delivered a letter to the Treasury yesterday. The letter, signed by 85 Conservative MPs calls for a cut in the duty in the Chancellor’s [...]
Glenlivet maker Pernod Ricard cuts guidance amid the coronavirus outbreak February 13, 2020 Pernod Ricard cut its annual operating profit goal blaming the coronavirus outbreak in China. The figures Profit from recurring operations was €1.8bn, up 4.3 per cent on an organic basis, slightly ahead of the 1.7bn expected by Citi analysts. Pernod Ricard’s revenue in the second quarter rose to 2.9bn, an organic sales growth of 3.8 [...]
Takeaway.com looks ahead to Just Eat after rise in revenue February 13, 2020 Takeaway.com saw a sharp rise in revenue prior to its merger with UK peer Just Eat. The figures Takeaway processed 159.2m orders in 2019, representing a 70 per cent compared with the year before. The average commission rate increased to 12.6 per cent in 2019 from 12.1 per cent in 2018, mainly driven by an [...]
Sweet results for Coca-Cola bottler as it reports increased profit February 13, 2020 Bottler Coca-Cola HBC delivered full year revenue growth in every segment last year as operating profit grew more than 10 per cent to €715.3m. The figures Operating profit grew 11.9 per cent last year from €639.4m to €715.3m. Revenue for the full year grew by 4.4 per cent and revenue in the fourth quarter grew [...]
Retail bosses call for business rates reform in 2020 budget February 13, 2020 Major UK retailers, including Debenhams, Sainsbury’s and M&S, have this morning called on the chancellor to take action on business rates reform in the upcoming budget. Retail bosses representing some of the country’s biggest high street chains have written to Sajid Javid urging him to outline plans to reform the transitional relief system in the budget [...]
Restaurants and pubs boost sales during Dry January February 13, 2020 Restaurants and pubs had a strong start to the year despite sluggish growth in London, as they catered for vegan diets and Dry January, according to the latest research. The UK’s managed pub, bar and restaurant sector reported sales growth of 1.9 per cent in January compared to the same month last year, as relatively [...]
Dr Martens owner snaps up luxury trainer brand Golden Goose for €1.3bn February 12, 2020 Permira, the private equity owner of Dr Martens and Reformation, has snapped up Italian trainer brand Golden Goose for €1.28bn. US private equity firm Carlyle has sold its majority stake in the luxury fashion brand after buying the firm in 2017, the companies announced today. Permira was battling with rival private equity firm Advent and [...]
Coronavirus: Gucci owner scraps ad campaigns and store openings in China February 12, 2020 Luxury giant Kering, which owns fashion houses Gucci and Balenciaga, has said the coronavirus outbreak in China will hit sales trends and tourism flows in one of its major markets. The company has halted new store openings and ad campaigns in response to the deadly epidemic. in China which has seen cities go into lockdown [...]
M&S bolsters menswear team after skinny jeans fiasco February 12, 2020 Marks & Spencer (M&S) has appointed a new menswear buying director, after the retailer’s Christmas sales were dented when it ordered too many skinny jeans in the wrong sizes. M&S chief executive Steve Rowe has been battling to turn the clothing and home division around, but total revenue slumped 3.7 per cent in the third [...]