London remains main target for foreign investment October 7, 2019 London continued to attract more foreign direct investment than any other UK city last year, prompting calls for a wider distribution of funds across the country. The capital attracted 73 per cent of the total 624 projects secured in 2018, according to research by EY and the Centre for Towns. Read more: Five reasons why [...]
Profits plunge at Barclay brothers’ Ritz hotel October 6, 2019 The billionaire Barclay brothers saw profits plunge at The Ritz Hotel in Mayfair, while their casino business also suffered losses. Profit before tax almost halved from £12.8m to £7.9m according to the hotel’s latest financial filings for last year. Read more: Barclay brothers Ritz Hotel casino swings to £11.7m loss The drop in profit came [...]
John Lewis threatens to withhold 20 per cent of service charges October 4, 2019 John Lewis is threatening to withhold up to 20 per cent of service charge to landlords to protest the increase in payment amounts . The department store said it is attempting to reduce costs but has been faced with service charge hikes at some of its shopping centre branches. Read more: John Lewis to axe [...]
Ted Baker shares sink further after £23m loss October 4, 2019 Shares in beleaguered fashion brand Ted Baker plummeted for the second day after the retailer revealed it swung to a loss and warned on future profits. Ted Baker shares are down more than 15 per cent this morning, following a 35 per cent plunge yesterday. Read more: Ted Baker shares crash as retailer swings to [...]
Worst September in eight years for high street sales October 4, 2019 Last month was the worst September on the high street in eight years as sales in bricks and mortar stores plummeted. Total like-for-like in-store sales fell by 3.1 per cent last month from a base of minus 2.7 per cent last year, making it the worst September on the high street since 2011, according to [...]
Brew-haha: Backlash over Brewdog’s hybrid burger October 3, 2019 Brewdog has been left with its tail between its legs after the launch of its new hybrid burger prompted a social media backlash from sceptics. Baffled customers took to Twitter to express their bewilderment at the pub chain’s new creation, which contains both a beef patty and a plant-based patty. Read more: Raising the bar: [...]
H&M shares surge after quarterly profit rise October 3, 2019 H&M reported its first quarterly rise in pre-tax profit in more than two years this morning as sales spiked due to well-received summer collections. Shares rose more than six per cent this morning as the world’s second largest fashion retailer said pre-tax profit in the period from June to August grew to 5bn kr from [...]
Ted Baker shares crash as retailer swings to £23m loss October 3, 2019 Ted Baker’s share price crashed 25 per cent as markets opened today, following a disastrous set of results that saw it swing to a loss and warn on its full-year results. Investors sold out of the embattled fashion retailer to take shares down almost 28 per cent as it booked a £23m half-year loss for [...]
Naked Wines sells wine merchant Lay & Wheeler for £11.3m October 2, 2019 Naked Wines today said it has agreed to sell fine wine merchant Lay & Wheeler (L&W) in a deal worth £11.3m. Read more: City grandee Michael Spencer tables bid for Naked Wine dealer L&W The online wine retailer said it will sell the division, made up of Lay & Wheeler Limited and Vinotheque Holdings, to [...]
Deliveroo losses deepen in expansion drive October 2, 2019 Deliveroo deepened its losses last year despite soaring sales as it pushed forward with expansion plans. The food delivery app said losses before tax were £232m in 2018 from £199m the previous year. Global sales increased by 72 per cent to £476m for the year. Read more: Deliveroo ad banned over misleading claim it could [...]