Future snaps up Cycling News and Procycling Magazine from Immediate Media February 13, 2019 Publishing firm Future has bought two specialist cycling titles from rival Immediate Media in a bid to cash in on the UK's cycling craze and bolster its special interest offering. The media firm today said it has acquired Procycling Magazine and Cyclingnews.com, the world’s largest cycling website, for an undisclosed amount. Read more: Vogue publisher [...]
Eat’s owners Horizon Capital mull sale amid strain on high street food outlets February 13, 2019 The owners of sandwich chain Eat are planning to sell the business as it battles with growing competition in the crowded high street food market. Private equity firm Horizon Capital, which owns a major stake in the company, has appointed corporate advisory firm Spayne Lindsay to oversee a potential sale. Read more: EU competition watchdog [...]
Caffeine kick: Whitbread announces £2bn share buyback after £4bn Costa Coffee sale February 13, 2019 Whitbread is planning to give shareholders well over half of the money it made from selling high street coffee chain Costa for £4bn late last year. The Premier Inn owner promised an extra £2bn windfall for shareholders today, a month after concluding the megadeal with Coca-Cola. Read more: Whitbread warns of stalling profits as it [...]
Play the music: HMV reopens trio of stores as Putman sets sights on further rescues February 13, 2019 A trio of HMV stores earmarked for closure have been reopened this week, with more potential rescues on the horizon amid efforts from new owner Doug Putman to renegotiate rents with high street landlords. One source close to HMV said this afternoon that more stores which are currently shut "are up for grabs", although the current number is unknown. [...]
Intercontinental Hotel Group buys luxury brand Six Senses in $300m deal February 13, 2019 Intercontinental Hotel Group said today it has agreed a $300m (£233m) deal to buy Six Senses Hotels Resorts Spas. The Holiday Inn-owner said it had bought the luxury chain from Pegasus Capital Advisors giving it access to properties in locations such as the Seychelles, the Maldives, Thailand, Oman and Portugal. Six Senses manages 16 hotels and resorts, [...]
New Look moves into the black February 13, 2019 Fast-fashion chain New Look moved into the black in its year-to-date results this morning, with cost savings and a third-quarter bump in sales providing a much-needed boon for the embattled retailer as it looks to tackle a £1bn pile. The figures Revenue hit £1.02bn in the 39 weeks to 22 December, slipping five per cent from [...]
Dunelm grows profits but remains ‘cautious’ as Brexit-related risks approach February 13, 2019 Profit and revenue climbed at Dunelm in the first six months of its financial year, the home furnishing retailer revealed today, but also warned its outlook is “cautious” in the face of Brexit uncertainty. The figures Profit before tax grew 14 per cent year on year to £70m while like-for-like revenue rose 6.9 per cent to [...]
Heineken cheers strong 2018 as profits fizz February 13, 2019 Dutch brewing giant Heineken has said this morning that it sees no sign of a slowdown in the year ahead, as it forecasted higher profits in the wake of increased demand for more expensive drinks and rising beer prices. The world’s second-largest beer manufacturer's organic operating profit hit €3.8bn (£3.4bn) in 2018, rising 6.4 per [...]
The mood music is encouraging at HMV after it is saved by Sunrise February 12, 2019 Following in the footsteps of other beloved, well-known high street brands, HMV entered administration in 2018 ending decades of dominance over the UK music market. However, HMV was rescued from being consigned to history after being sold to Canadian retailer Sunrise Records last week (at least for now – HMV also went bust in 2013). [...]
HMV starts reopening stores as new owner gets landlords to the negotiating table February 12, 2019 HMV has reopened a store at the Bluewater shopping centre in Kent as the company's new owner fights to revive its presence in London and the south east. The Bluewater HMV opened its doors to customers on Tuesday morning, a week after it was shuttered along with several other HMVs across London. Read more: Revealed: These [...]