Fevertree sales fizz as tonic maker cheers bumper summer January 24, 2019 FeverTree’s share price jumped more than eight per cent in early morning trading, after the tonic maker said it was forecasting a sharp uptick in revenues following strong consumer appetite in the UK. Prolonged summer weather and festive demand drove up sales last year, according to the group, which said today that it expected revenue [...]
Like-for-like sales slip at The Restaurant Group despite Wagamama boost after ‘pivotal year’ January 24, 2019 Frankie & Benny’s owner The Restaurant Group (TRG) posted a dip in like-for-like sales during 2018, but said that it has been seeing positive growth since the World Cup as its pubs continued to outperform the sector. The group also remained upbeat on its recent £500m acquisition of Wagamama, saying that the noodle chain "continued to trade well over [...]
70,000 retail jobs lost in 2018, says trade body BRC January 24, 2019 Panic over further troubles on the high street has been underlined this morning, with new figures showing that some 70,000 retail jobs were lost last year. A retail employment monitor out today from the British Retail Consortium (BRC) has found that the total number of jobs was down 2.2 per cent in the fourth quarter of [...]
English gin makers toast boom in sales as spirits reach record high January 24, 2019 Surging demand for gin has led to a boom in England’s alcohol industry, which registered more distilleries than Scotland last year for the first time ever. Figures in the alcohol industry are hailing a “ginaissance” with sales of the juniper-flavoured spirit in the UK hitting an all-time high in 2018, as London gin bars and [...]
Sir Philip Green accuses Telegraph of colluding with Lord Hain in his naming in harassment story and bids to uncovers its sources January 23, 2019 Retail mogul Sir Philip Green is set for a court battle with the Daily Telegraph in an attempt to uncover the newspaper’s sources for its front page story alleging harassment by an unnamed businessman. Arcadia’s lawyers were granted an interim injunction preventing the naming of Green and Arcadia as the subjects of the piece. However, [...]
SFO publishes terms of deferred prosecution agreement with Tesco after reporting restrictions lifted January 23, 2019 The Serious Fraud Office (SFO) has published the full terms of the Deferred Prosecution Agreement (DPA) it agreed with Tesco following the 2014 accounting scandal. Reporting restrictions around the DPA – a voluntary agreement which allows companies to forego prosecution by fulfilling certain requirements – were lifted when former Tesco director Carl Rogberg was acquitted today. [...]
John Lewis to close historic Knight & Lee department store in Southsea January 23, 2019 John Lewis today said it is shutting its historic Knight & Lee department store in Southsea in the chain’s first closure for more than a decade. The department store said it will close Knight & Lee, which at 35,000 square feet (sq ft) is its smallest outlet, in July this year. Read more: John Lewis enjoys [...]
Patisserie Valerie shareholders consider legal action after company collapses January 23, 2019 Patisserie Valerie shareholders are planning to take legal action against the company after the high street chain collapsed into administration last night. Fundamental Asset Management co-founder Chris Boxhall told City A.M. that there is an “appetite” for action among investors after Patisserie Valerie chairman Luke Johnson failed to secure a cash lifeline from banks yesterday [...]
Pub group Marston’s scales back expansion plans as it looks to slash debts January 23, 2019 Marston's today said it will limit its expansion plans in a bid to reduce its £1.4bn debt pile amid continued economic uncertainty. In a trading update Marston’s said like-for-like sales rose 1.4 per cent in the 16-week period to 19 January, boosted by strong trading over the Christmas fortnight. Read more: Pub chain Marston's raises a [...]
Joules sees half-year sales rise thanks to strong online trading January 23, 2019 Fashion retailer Joules today reported a double-digit rise in profits for the half year, boosted by strong online trading. Joules said pre-tax profits for the 26 weeks to 25 November were up 14.7 per cent on the same period last year to £10.7m. Read more: Joules shines amid retail gloom as it prepares for Brexit Total [...]