Booming US market breaks box office records for Cineworld but UK sales slip January 16, 2019 Cineworld shares slumped five per cent in morning trading, as the world’s second largest cinema chain revealed flattened UK sales despite the success of films such as Black Panther breaking box office records. A record 308m people visited the cinemas during 2018, the chain said. Meanwhile, like-for-like revenue jumped 6.2 per cent year-on-year in the 12 months [...]
McDonald’s loses EU copyright case over the Big Mac name January 16, 2019 McDonald’s will lose the exclusive rights to its eponymous Big Mac burger as European regulators yesterday found in favour of Irish chain Supermac’s. The David against Goliath battle culminated in a decision by the EU Intellectual Property Office, finding that McDonald’s had not proven genuine use of the trademark for the last five years. Read [...]
City Pub Group toasts sales rise as it splashes out on new sites January 16, 2019 Pub owner City Pub Group today reported a rise in sales after strong Christmas trading and a spate of acquisitions. The pub chain saw a 1.6 per cent boost in like-for-like sales in the 52 weeks to the end of December, while turnover soared 22 per cent on the year before to £45.6m. Read more: Magic [...]
Icing off the cake: Finsbury Food drops as butter prices skyrocket January 16, 2019 AIM-listed cake maker Finsbury Food dropped sharply this morning despite growing like-for-like sales 0.5 per cent in the last six months. Shares in the Thorntons supplier fell nearly 12 per cent an hour after markets opened this morning, trading at 82p. Read more: Cake maker Finsbury Foods sees profits slip after bakery closure The drop came [...]
Over-50s insurer Saga set to meet profit expectations after sales cruise forward January 16, 2019 Saga, the insurer and package holiday provider for the over-50s, reported overall profitability is in line with expectations today despite a “challenging” market. Forward sales for cruises have been strong, the company reported, with its ship the Spirit of Discovery, which will set sail in June this year, reaching 69 per cent of the sales [...]
Consumer spending feels the pinch amid Brexit uncertainty January 16, 2019 Enduring political uncertainty was to blame for weak consumer spending over Christmas, according to figures released today. Consumer spending fell by one per cent in December compared to the same month in 2017, research from Visa and IHS Markit reveals, its biggest monthly drop since April. Read more: UK car sales decline for the second [...]
Reckitt Benckiser CEO announces plan to retire at the end of 2019 January 16, 2019 Reckitt Benckiser chief executive Rakesh Kapoor is set to retire at the end of 2019, the firm announced today, leading it to launch a formal search for its next boss. The maker of Nurofen and Clearasil said it is looking at both internal and external candidates to succeed Kapoor, as shares dropped by three per [...]
Greggs’ vegan sausage rolls rise to the occasion perfectly January 15, 2019 The retail industry has had a difficult time recently but shares in high street bakery Greggs have bucked the trend and hit an all-time high, thanks to some ingenious and topical marketing. Greggs used social media and publicity stunts to boost awareness in the brand during its launch of a vegan sausage roll – a [...]
Magic touch: Greene King appoints Merlin exec as new boss January 15, 2019 Brewer Greene King said today that Nick Mackenzie would join as new chief executive in May from Madame Tussauds-owner Merlin Entertainments. Mackenzie will replace Rooney Anand in the top job and join Greene King’s board on 1 May. At Merlin he is a member of the executive committee and is responsible for the Midway portfolio [...]
Netflix shares rise as subscribers face an 18 per cent price hike January 15, 2019 Netflix has said it will be raising the prices of its streaming services for US subscribers by as much as 18 per cent, as the tech giant seeks to cover the costs of ploughing heavy investment into its original content. Prices for its most popular standard viewing plan, which allows users to stream content on [...]