Peloton IPO: At-home exercise firm prices float at $29 per share September 26, 2019 Exercise bike firm Peloton has priced its initial public offering (IPO) at $29 per share to value the company at $8bn (£6.47bn). Peloton priced its float at the top of its $26 to $29 range last night as it looks to raise $1.16bn. Read more: Why Wework’s IPO strategy is not working for investors The [...]
Shepherd Neame turnover drops after contract losses September 25, 2019 Turnover at Shepherd Neame fell nearly seven per cent after the pub operator lost contracts with Asahi and Lidl. The brewer, which owns and operates 322 pubs in Kent and the south east, reported that turnover was down 6.9 per cent to £145.8m in the year ended 29 June, compared to £156.6m in 2018. Read [...]
Oasis and Warehouse profit rises as retailer mulls cuts September 25, 2019 Oasis and Warehouse Group reported a return to profit in its latest full-year results as the retailer prepares to cut jobs and contracted hours across its store portfolio. The high street chain said this morning that profit before tax was £1.6m, compared to a loss of £10.1m the previous year. Total sales were up 6.5 [...]
Philip Morris and Altria end merger talks and Juul boss steps down as vaping in spotlight over deaths September 25, 2019 Tobacco giants Philip Morris International and Altria have ended their merger talks after a series of deaths in the US raised questions about the future of vaping, which industry insiders had hailed as safer than cigarettes. “After much deliberation, the companies have agreed to focus on launching Iqos in the US as part of their [...]
Forever 21 exits Japan amid bankruptcy reports September 25, 2019 Forever 21 will reportedly close all 14 stores and its online shop in Japan amid reports that the fast fashion retailer is considering filing for bankruptcy protection. The firm will end all of its Japanese operations by the end of October, according to the Nikkei Asian Review. Read more: Forever 21 in UK launch It [...]
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 [...]