Philip Day on track to delist Bonmarche as Artemis sells July 10, 2019 Billionaire Philip Day is on track to take embattled retailer Bonmarche private after Artemis, the firm’s last major institutional investor, sold its stake. Artemis has offloaded its 12 per cent stake in the business to Spectre, Day’s Dubai-based holding company. Read more: Bonmarche makes dramatic U-turn on takeover bid The transaction brings Day’s stake up [...]
Superdry hires headhunters to replace interim CEO Julian Dunkerton July 10, 2019 Superdry has appointed headhunters to hire a new chief executive to replace interim boss and co-founder Julian Dunkerton. The embattled fashion retailer said today that Dunkerton, who made a dramatic return to the company earlier this year following a bitter boardroom battle, would remain closely involved in the firm. Read more: Superdry slips to a [...]
Pub regulator investigates Heineken pub arm over ‘unreasonable stocking terms’ on landlords July 10, 2019 Britain’s pub regulator is investigating Heineken’s pub arm over whether it coerced landlords to sell the its beer against their will. In a landmark case, Pubs Code Adjudicator (PCA) Paul Newby is looking into the actions of Star Pubs and Bars, which the Dutch company owns. Read more: Pub regulator investigates Heineken pub arm over [...]
Dunelm set to hit higher end of profit range amid sales rise July 10, 2019 British homewares retailing giant Dunelm has forecasted today that its annual profit will be at the higher end of its range, raising its expectations on the back of improved sales. Management has said that full-year profit before tax will be at the upper end of the £124m – £126 range announced last month. Total like-for-like [...]
J D Wetherspoon sales growth slows again July 10, 2019 J D Wetherspoon expects like-for-like sales to rise at a slower rate in its pubs over summer as boss Tim Martin warned investors about a £3m non-cash loss this financial year. Read more: Glass half empty? Wetherspoon shares fall as sales growth slows Like-for-like sales are expected to grow 6.9 per cent for the 10 [...]
Strike: Bowling alley operator Ten Entertainment sales grow by nearly a tenth July 10, 2019 Ten Entertainment shares rose three per cent this morning after it reported a 9.6 per cent rise in sales. The FTSE all-share firm benefited from cooler conditions than last year throughout May and June. These helped draw more customers into its bowling centres, it said. Read more: Ten Entertainment to target London in bowling alley [...]
Drying up: Superdry slips to £85m loss as co-founder Dunkerton vows to ‘steady the ship’ July 10, 2019 Superdry shares plummeted in early morning trading after it slumped to a “disappointing” loss as the troubled retailer fights the ongoing stagnation on the high street. The firm, which suffered a boardroom exodus in April after co-founder Julian Dunkerton won an audacious bid to reinstall himself onto the board, saw shares fall six per cent [...]
Pepsico beats analyst expectations in second quarter results July 9, 2019 Pepsico reported boosted revenue growth and profit today, beating analyst expectations in its second quarter results. The company, which owns brands such as Pepsi, Doritos and Tropicana, said net revenue growth was 2.2 per cent in the second quarter and 2.4 per cent in the year-to-date. Read more: Reckitt Benckiser picks Pepsico executive for top [...]
Remy Cointreau chief executive steps down for personal reasons July 9, 2019 The chief executive of French spirits company Remy Cointreau will step down at the end of the year for personal reasons. Valerie Chapoulaud-Floquet, 56, will continue to exercise her mandate until a successor is appointed. Read more: Remy Cointreau keeps its spirits up She joined the group in September 2014 and led the company’s development [...]
M&S seeks to persuade investors of Ocado deal benefits July 9, 2019 Marks & Spencer today insisted its £750m joint venture with Ocado would boost profits as it aimed to persuade uncertain investors on the benefits of the deal. The high street giant is aiming to double the size of its food business and said the tie-up with the delivery service would set it “well on the [...]