On the block: Goals goes up for sale in wake of £12m fraud accusations August 29, 2019 Embattled five-a-side football operator Goals has put itself up for sale this morning, following a torrid six months that has been clouded by accusations of tax fraud. Goals Soccer Centres, which is part owned by retail magnate Mike Ashley, has said today that it is inviting offers for both the business and the assets belonging [...]
Gym Group posts blistering rise in profits as memberships surge August 29, 2019 Gym Group posted a huge rise in profitability today as it revealed earnings came close to doubling in the first half of 2019. Read more: Four years on: The fitness techniques that turned our Life & Style editor into a gym bro The figures Pre-tax profits soared 80.5 per cent to £5.6m in the six [...]
Franco Manca owner serves up revenue boost August 28, 2019 Franco Manca owner The Fulham Shore reported growing revenues as it continues to expand the pizza chain outside London. The restaurant chain has opened Franco Manca branches in Birmingham, Exeter, Leeds and Edinburgh in first half of the financial year as the group eyes opportunities outside of the capital. It also opened another London branch [...]
Profit slips at flooring specialist Headlam but sales in recovery August 28, 2019 Europe’s largest floor coverings distributor, Headlam, has reported a fall in pre-tax profit for the first half of the year, as it struggled with a subdued UK residential market and higher costs. The figures Headlam saw pre-tax profit drop to £15.97m for the first half, down from £16.42m for the same period last year. Total [...]
Thomas Cook set to receive £450m Fosun rescue package August 28, 2019 Thomas Cook is close to agreeing a rescue deal with a major shareholder that could result in the company’s delisting. The travel operator is agreeing bailout terms with Chinese investment firm Fosun that will see it throw £450m into the ailing company for a 75 per cent equity stake. Read more: Thomas Cook shares plunge [...]
WH Smith boosted by ‘strong’ performance of travel stores August 28, 2019 WH Smith said today it is on track to meet full-year expectations, helped by a strong performance in its travel stores. Read more: Shoppers rank their least favourite UK high street stores The stationer and convenience store retailer said in a trading update that its travel business – stores at stations, airports, hospitals, and service [...]
To Infinity and beyond: Ted Baker seals deal to expand into Japan August 28, 2019 Ted Baker has inked a deal to sell its goods to Japanese department stores from October, telling investors it should offer an instant, if marginal, bump to its bottom line. Read more: Ted Baker finance boss bags new role at Mulberry The tie-up sees the retailer appoint Sojitz Infinity as its Japanese retail licence partner [...]
Ex-WH Smith boss Kate Swann appointed as Moonpig chair August 27, 2019 Former WH Smith boss Kate Swann, who transformed the stationary retailer during her ten-year stint as chief executive, is preparing to join greeting cards firm Moonpig. Swann, who stepped down as chief executive of catering firm SSP in May this year, has been appointed as chairman of the online company, which is owned by buyout [...]
Papa John’s shares sizzle after appointment of new chief August 27, 2019 Shares in Papa John’s have jumped six per cent, after the company hired the head of US restaurant chain Arby’s as its new chief executive. The world’s third largest pizza chain appointed Arby’s president Rob Lynch today, replacing Steve Ritchie just 19 months after he took the role. Read more: Sainsbury’s partners with Deliveroo on [...]
Big tobacco: Philip Morris and Altria start talks over $210bn mega-merger as Marlboro-makers seek to light up alternative products August 27, 2019 One of the world’s most hotly anticipated mega-mergers kicked off yesterday as tobacco giants Philip Morris International (PMI) and Altria said they were in talks to form a $210bn (£170bn) behemoth. The deal would reunite two companies that split up in 2008 amid regulatory pressures at the time. Read more: Juul raises $325m to fund [...]