The Festival of Words: From Gyles Brandreth to Anthony Scaramucci – all you need to know about the Fleet Street Quarter festival
Sainsbury’s beats rivals to report sales growth October 15, 2019 Sainsbury’s beat its rivals to become the only major UK supermarket to report sales growth in the last 12 weeks. The grocer’s sales increased 0.6 per cent, its fastest rate since October last year, while the other “Big Four” supermarkets- Tesco, Asda and Morrisons – saw sales decline 0.2 per cent, 0.9 per cent and [...]
Marston’s forecasts lower profit on food sales slump October 15, 2019 Pub operator Marston’s said it expects to post a dip in profit this year due to weakening food sales. Shares fell more than eight per cent after the Pitcher and Piano owner said it expected to report underlying profit before tax of around £101m, compared to £104m last year. Read more: Beer sales slump dampens [...]
Sports Direct calls for probe into Nike and Adidas October 14, 2019 Sports Direct called this evening for a competition probe into the market dominance of sportswear brands such as Nike and Adidas. In a statement, the company said top brands “use their market power to implement market-wide practices aimed at controlling the supply and, ultimately, the pricing of their products”. Read more: Corbyn kicks up fresh [...]
Fast food chain Leon launches new product range with Sainsbury’s October 14, 2019 Fast food chain Leon has launched a partnership with Sainsbury’s to sell its first range of grocery products. Customers will be able to buy a range of Leon condiments, oils and bread in more than 600 stores as the chain expands beyond its London focused restaurant portfolio. Read more: Leon reports widening losses as rising [...]
Cake Box on track to meet expectations after sales and stores grow October 14, 2019 Cake Box said it expects to meet full-year expectations after sales and store numbers both grew in the first half of the year. The egg-free cake retailer said it expects to report revenue growth of about six per cent to £8.8m, compared to £8.3m in the first half of last year. Read more: Cake Box [...]
Laura Ashley shares plunge as finance chief steps down after two decades October 14, 2019 Laura Ashley’s share price plunged more than 26 per cent this morning after the retailer announced its finance director Sean Anglim has stepped down after more than two decades at the firm. Anglim, who is also joint chief operating officer, will be replaced by Sagar Mavani, the company announced today. Read more: Laura Ashley drops [...]
Julian Dunkerton to stay on as Superdry CEO until April 2021 October 14, 2019 British fashion brand Superdry has said co-founder Julian Dunkerton will stay on as chief executive officer until April 2021. Dunkerton has been interim CEO since April this year, after very narrowly winning a crunch shareholder vote with a pledge to turn the struggling retailer around. In July Superdry fell to a £85.4m loss, from a [...]
Retail footfall down 10 per cent in seven years amid high street troubles October 14, 2019 The number of shoppers on the high street has dropped by 10 per cent over the last seven years, according to new data which underlines the current challenges facing physical retailers. Read more: Retailers brace for tough Christmas trading According to a new report from Springboard and the British Retail Consortium, retail footfall has decreased [...]
Competition watchdog to examine £1.3bn tie-up between Slug and Lettuce-owner Stonegate and pub chain Ei Group October 11, 2019 The Competition and Markets Authority (CMA) today said it was considering whether the £1.3bn merger between Slug and Lettuce-owner Stonegate and pub chain Ei Group would lessen competition. The watchdog invited comments on the deal from any relevant party by 25 October. Read more: Slug and Lettuce owner Stonegate Pub Company to pay £1.3bn for [...]
Peppa Pig owner Entertainment One deepens losses days before £3.3bn Hasbro merger vote October 11, 2019 Peppa Pig owner Entertainment One has revealed a £43.9m loss in the first quarter of the year, just days before Hasbro puts a massive takeover offer to a shareholder vote. The media firm posted a £43.9m loss, up from a £6.8m loss this time last year, blaming higher debt and its acquisition of Audio Network. [...]