‘Business as usual’ as West End landlord Shaftesbury Group defies retail woes November 27, 2018 West End owner Shaftesbury Group reported higher take-up and rising asset values this morning, defying the retail gloom that has been forecasted for many of Britain’s high street landlords. The Chinatown and Carnaby Street property group posted lower vacancies across its £3bn portfolio, with net income rising by 6.2 per cent to £93.8m in the [...]
Gin o’clock: UK gin sales account for three-quarters of EU production November 27, 2018 The British gin boom continued to gather pace last year with UK sales accounting for 72 per cent of the total EU production, according to figures published today. UK manufacturers' sales of gin have now increased 267 per cent since 2009, climbing from £130m to £461m, the Office for National Statistics (ONS) said. Whisky sales [...]
Topps Tiles profits fall as Britain’s biggest tile retailer issues Brexit warning November 27, 2018 Britain's largest tile retailer Topps Tiles reported a fall in profits and said it will stockpile supplies ahead of March next year after issuing a Brexit warning. The figures Topps Tiles said its adjusted profit before tax dropped 14 per cent to £16m for the year ending 30 September from £18.6m the previous year due [...]
Star baker: Greggs shares soar as sales grow ahead of expectations November 27, 2018 Shares in Greggs soared more than 15 per cent this morning on the news that total sales had grown nine per cent since the beginning of October. The high street bakery chain expects full-year profit before tax to be at least £86m, it announced today in a trading update. Like-for-like sales in company-managed stores were up [...]
Pets at Home profits crash as restructuring costs mount November 27, 2018 Pet care veterinary and retail chain Pets at Home has seen its profits fall dramatically over the last six months, as the business struggled with rising costs from restructuring in a difficult retail climate. Its share price fell by as much as 4.8 per cent in early trading. The figures Overall group revenue rose 6.7 per [...]
Thomas Cook shares plummet as it issues £30m profit warning following summer heatwave November 27, 2018 Thomas Cook's share price crashed by 30 per cent this morning as it announced a £30m profit warning, blaming the summer heatwave for hitting the package holiday provider’s main trading period. The warning – the business's second in two months – comes as the firm reported its tour operations arm was down £88m, impacted by discounts in [...]
Surf’s up: London is getting a £40m surfing venue November 27, 2018 London may become the first capital city in the world to boast an inland surfing venue, thanks to a project announced today by Lee Valley Regional Park Authority (LVRPA). LVRA and inland surfing company The Wave have unveiled plans for a £40m surfing destination called The Wave London next to the Lee Valley Athletics Centre in [...]
Campbell Soup reaches deal with activist investor to stop battle over board November 26, 2018 Campbell Soup has ended a months-long battle with Third Point by promising the activist investor can choose two new board members. The hedge fund, which will now have a say in selecting Campbell’s new chief executive, has been locked into a dispute with the soup maker over its struggling share price and a takeover spree which [...]
Luxury furniture firm Smallbone of Devizes teeters on brink of collapse November 26, 2018 High-end furniture manufacturer Canburg, which owns brands such as up-market designer Smallbone of Devizes, is on the edge of bankruptcy as it faces administration. The firm has filed a notice to appoint accountancy firm Grant Thornton as administrator this week, Sky News first reported. Hundreds of jobs could be at risk if proceedings go ahead. [...]
UK pub employment on the rise despite spate of closures November 26, 2018 The number of people employed by pubs in the UK has increased over the last decade, despite a shrinking number of watering holes, new figures have revealed. Research by the Office for National Statistics (ONS) shows that while the number of pubs has shrunk from roughly 50,000 in 2008 to 39,000 in 2018, the number of employees [...]