International growth boosts Boohoo profit September 25, 2019 Boohoo revenue and profit soared in the first half of the year driven by strong international growth at the fast fashion brand. The figures Revenue soared 43 per cent from £395.3m in the first half of 2018 to £564.9m in the first six months of this year. The company’s revenue was more than £1bn over [...]
Sainsbury’s plans local supermarket expansion as it quits mortgage market September 25, 2019 Around 110 new Sainsbury’s Local stores will open up across the country, the supermarket announced today as it closed a swathe of stores and pulled out of the mortgage market. Weeks after reports emerged of a major shake up at Sainsbury’s Bank, the store confirmed that it would immediately stop new mortgage sales. It is [...]
Ten Entertainment profit grows as it unveils escape room tie-up September 24, 2019 Bowling alley operator Ten Entertainment has posted a rise in revenue and profit for the half year, as it announced its first venture into the escape room market. Read more: Strike: Bowling alley operator Ten Entertainment sales grow by nearly a tenth Ten reported total sales of £41.4m in the six months, up 9.7 per [...]
Irn-Bru owner AG Barr’s share price rises despite plummeting profits September 24, 2019 Irn-Bru maker AG Barr’s share price rose in early trading as it clung onto its full-year outlook despite posting a huge drop in first half profit. Read more: Irn-Bru maker AG Barr’s share price crashes after profit warning The figures Revenue fell 10.5 per cent year on year to £122.5m for the six months to [...]
Brexit stockpiling dents Card Factory profits September 24, 2019 Card Factory profits fell 14 per cent in the first six months of its financial year amid Brexit stockpiling despite like-for-like sales beating a negative high street. The figures Profit before tax dropped 14.4 per cent year on year to £24.3m for the six months to the end of July as Brexit stockpiling and the [...]
Bottling it: Moss Bros launches recycled eco suit as boss warns of store closures unless landlords lower rent September 24, 2019 Tailoring company Moss Bros this morning said it will launch a new suit made from up to 45 recycled plastic bottles as the company showed a widening loss. The new eco-friendly suits come as world leaders meet in New York for a UN climate conference. Read more: Moss Bros issues profit warning, blaming World Cup [...]
Pub companies: Is now the time to invest in a cheap pint? September 23, 2019 | City Talk Investors in Greene King are raising a glass in celebration after Hong Kong’s richest man, Victor Li, agreed to buy the UK’s largest publicly-listed pub and brewery company for £4.6 billion (including net debt). A unit of Li’s investment vehicle, CK Asset Holdings, has bid 850 pence per share – more than a 50 per [...]
Tui share price soars as rival Thomas Cook bites the dust September 23, 2019 Tui’s share price bumped up almost 10 per cent today after Thomas Cook fell into liquidation. Travel operator Tui saw shares rise just shy of 10 per cent before trimming gains to stand 7.7 per cent up at 903p in early trading as its rival collapsed under the weight of a £1.7bn debt mountain. Read [...]
Thomas Cook falls into liquidation as rescue talks collapse September 23, 2019 Thomas Cook has collapsed into liquidation after failing to find the £1.1bn required to keep it afloat. Talks collapsed overnight to sink the holiday firm, leaving around 150,000 British holidaymakers stranded abroad. Read more: Thomas Cook teeters on the brink as 11th hour talks look set to fail The government will now charter dozens of [...]
Mike Ashley kicks off £4m takeover for Goals Soccer Centres September 23, 2019 Goals Soccer Centre has said it is discussing a takeover bid with high street tycoon Mike Ashley after his Sports Direct said it wanted to take the company private, valuing it at £3.76m. Sports Direct, of which Ashley is the main shareholder, said it was offering 5p a share for the just over 80 per [...]