Sports Direct shares soar on profit jump December 16, 2019 Sports Direct’s shares soared this morning as the retailer posted a jump in profit and revealed that it was beginning to see the “green shoots of recovery” at House of Fraser. The figures The company’s share price surged more than 30 per cent to 470p after the high street store said reported profit before tax [...]
Mike Ashley urges government to reform business rates system quickly December 16, 2019 Sports Direct owner Mike Ashley has warned that more House of Fraser stores will be forced to close unless the new government tackles the “broken and unworkable” business rates system. Retailers have repeatedly urged politicians to take action on business rates, and ahead of his election win Boris Johnson pledged to launch a fundamental review [...]
Mike Ashley mulls £100m staff bonus scheme December 16, 2019 Sports Direct owner Mike Ashley revealed that his business, which today rebranded as Frasers Group, is mulling a £100m share bonus scheme for employees. The proposals are at an early stage, but the scheme would only be open to full-time employees and would not include staff members on zero-hour contracts, Ashley said today. Read more: [...]
Studio Retail Group shares jump after £50m Findel sale December 16, 2019 Studio Retail Group announced it has sold its education business Findel for £50m, as it reported a slump in profits in its interim results following a spike in additional PPI claims. Shares in the company surged more than seven per cent after it announced Findel has been sold to the City of Wakefield Council as [...]
Supermarkets should embrace the calls for higher plastic charges December 16, 2019 The battle against plastic rages on. Back in 2015 when the 5p charge was introduced, it seemed like a relatively big deal, but as the Greenpeace report made abundantly clear, it was just the start of a long fight. The report’s findings are stark — customers in Britain’s main supermarkets bought 1.5 billion bags for [...]
Restaurants can serve up lessons on why we should hire ex-offenders December 16, 2019 The hospitality sector is serving up more than Christmas parties this month. In the face of intense staffing challenges, employers in the industry can also serve up a lesson in how to effectively hire alternative talent. Restaurants, bars, and hotels are in the midst of the biggest skills shortage in decades — almost 80 per [...]
Delivery Hero takes a bite out of Asian market with $4bn Woowa deal December 13, 2019 Delivery Hero has agreed a $4bn (£3bn) deal to purchase South Korea’s biggest food delivery app and form a joint venture, driving up competition in the rapidly-growing Asian market. The Berlin-based group today signed a deal to take over Woowa Brothers, the startup behind the Baedal Minjok app – more commonly known as Baemin. Read [...]
Topshop boss Sir Philip Green bags £310m loan for Oxford Street store December 13, 2019 Sir Philip Green has bagged a £310m deal to remortgage the flagship Topshop store on Oxford Street, securing the future of a crucial asset in his struggling retail empire. Topshop parent company Arcadia Group today said it had completed a four-year refinancing deal with US investment giant Apollo Management. Read more: Sir Philip Green’s Arcadia [...]
Hollywood Bowl investors strike gold as firm pays out after profit rise December 13, 2019 Shares in Hollywood Bowl rose almost nine per cent this morning as investors were bowled over by a sharp rise in full-year profit and a special dividend. Read more: Hollywood Bowl strikes double figure profit growth The figures Revenue rose 5.5 per cent on a like-for-like basis to £129.9m in the 12 months to the [...]
Jamie Oliver’s Fifteen Cornwall restaurant to close ‘with immediate effect’ December 12, 2019 Jamie Oliver’s Fifteen Cornwall restaurant is to close with immediate effect, putting up to 100 jobs at risk. The restaurant is run by charity the Cornwall Food Foundation, which said both the restaurant and charity will cease trading today after “an independent financial review.” Read more: Jamie Oliver bags £5.2m payday despite restaurant chain collapse [...]