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 [...]
Why Ocado shares have been chased sharply higher July 9, 2019 | City Talk A costly warehouse fire hasn’t dented enthusiasm for the shares. Our head of markets explains. Ocado (LSE:OCDO) transformation from online retailer to cutting-edge technology provider remains clear for all to see. The Andover fire in February was an unwelcome distraction and has come at a cost both in actual terms as well as in lost [...]
Losses deepen as Ocado reveals cost of Andover fire July 9, 2019 Ocado suffered a sharp downturn in losses during the last six months as a devastating fire at one of the firm’s flagship warehouses scolded the firm’s performance. The delivery giant’s pre-tax losses slid to £142.8m in the first half of 2019, plunging from £13.6m during the same period in the previous year, as a major [...]
Sports Direct set for Game Digital takeover after securing shareholder backing July 9, 2019 Sports Direct said today that it has wrapped up enough support for its takeover offer of Game Digital, paving the way for Mike Ashley’s latest high street acquisition. The retailer has said its offer for Game Digital is now unconditional, as its own 38.5 per cent stake and backing from other shareholders takes its support [...]
Online sales to overtake high street in next decade July 9, 2019 Internet shopping will overtake physical stores in the next 10 years as deliveries become cheaper, faster and more convenient, a new report has found. Online sales are estimated to account for 53 per cent of all retail sales by 2028. Read more: Mike Ashley calls for online sales tax to revive high street The popularity [...]