Footlocker shares leap on strong Nike sales November 21, 2018 Shares in trainer retailer Foot Locker jumped by as much as 20 per cent today after its third quarter results showed an increase in shoe sales, as customers flocked to buy Nike’s new Air Max range. Analysts had feared that Nike’s move to start selling shoes via Amazon and its own stores would hurt Foot [...]
West End retailers go to town on promotions to ensure expected £150m Black Friday boost November 21, 2018 Retail sales on London’s busiest shopping streets are expected to see a £150m boost over the Black Friday weekend amid challenging conditions on the high street, according to a trade group representing retailers in the area. Sales are expected to equal those of last year among around 600 retailers on Bond Street, Oxford Street and Regent Street, [...]
Bet365’s billionaire boss Denise Coates pockets massive £265m payout November 21, 2018 The chief executive of online bookie Bet365 Denise Coates took home £265m last year after giving herself a £21m pay rise. The billionaire businesswoman pocketed a salary of £220m, an increase from £199m last year and roughly a third of Bet365’s total profits for the year to the end of March, according to the company’s accounts. Coates, [...]
Sugar tax raises £154m but the government warns more must be done November 21, 2018 The sugar tax on soft drinks has raised £153.8m since it came into force in April, the government has said. The levy was rolled out seven months ago to help tackle childhood obesity, with revenue used to fund physical education in primary schools. The figure is less than half the original amount estimated when the tax was [...]
Retail estate landlord New River Reit posts drop in asset value as high street woes worsen November 21, 2018 Real estate giant New River Reit saw the value of its assets dip in the six months to September, in a further sign of the tough challenges facing landlords on the high street. Net assets totalled £864m in September this year, marking more than a three per cent drop from March, while funds from operations [...]
Ikea cites rapid change in the retail sector as it cuts 7,500 jobs worldwide November 21, 2018 Ikea will cut 7,500 jobs worldwide over the next two years as it focuses on developing its website and inner-city stores, it said today. The cuts, which include 350 roles in the UK, will not hit the headcount of Ikea's 160,000 employees worldwide as it also plans to add 11,500 new jobs to its global workforce. [...]
Pub chain Marston’s raises a toast to solid profits and record revenues after a bumper World Cup summer November 21, 2018 Pub owner Marston’s annual results were boosted by England's long run in the summer's World Cup, it said today, but it will open fewer pubs next year in the face of economic uncertainty. The figures Marston's reported a four per cent year-on-year rise in profit before tax to £104m for the year ending 29 September, meeting its [...]
City heavyweight Kate Swann says she’s leaving Upper Crust owner SSP with ‘petrol in the tank’ November 21, 2018 City veteran Kate Swann revealed today that she plans to step down from food and beverages giant SSP Group, saying that she wants to leave the Upper Crust owner with "petrol in the tank". Investors digested the news of the former WH Smith chief executive’s departure from SSP this morning, with shares tumbling on the announcement despite the [...]
Upper Crust owner SSP’s share price falls as chief executive set to step down November 21, 2018 The chief executive of SSP Group, which owns popular food and beverage brands such as Upper Crust, Millie's Cookies and Ritazza, is set to step down next year. City veteran and former WH Smith chief Kate Swann will leave the firm at the end of May, to be succeeded by current UK and Ireland regional head [...]
Online sales are set to hit record levels on Black Friday as high street footfall declines November 21, 2018 The proportion of sales made online is likely to hit its highest level ever in November, boosted by a Black Friday internet shopping rush and fewer high street shoppers. Internet sales are expected to exceed 20 per cent of total retail sales for the first time ever this month, according to research by real estate firm [...]