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 [...]
Clash of Clans maker Supercell reports second consecutive year of falling profits February 12, 2019 Mobile gaming firm Supercell has posted falling sales and profits for a second year running, reporting a 26 per cent drop in income as its bestselling titles fail to age gracefully. The Finnish firm, which was the brains behind viral iPhone games Clash of Clans and Clash Royale, was last valued at $10bn (£7.8bn) in 2016 [...]
London’s iconic department store Liberty ‘seeks £300m sale’ February 12, 2019 London retail landmark Liberty department store could be set for new ownership for the first time in nearly 10 years. Its largest shareholder, private equity firm Bluegem Capital Partners, has reportedly hired UBS to look into potential buyers for the business. Read more: West End property giant Shaftesbury posts 'resilient' retail demand The company, which [...]
Gucci shrugs off China troubles after trumping sales estimates February 12, 2019 Kering’s flagship Gucci brand became the latest in a swathe of luxury retail names to buck fears of a slowdown in demand from Chinese shoppers today, after the Italian label trumped sales expectations for the final quarter of 2018. Outperforming many of its peers in the fourth quarter of last year, Kering posted a 23.3 per [...]
Ebay’s acquisition of Motors.co.uk gets the green light from UK competition watchdog February 12, 2019 Ebay's acquisition of car search business Motors.co.uk has been given the all-clear by the Competition and Markets Authority (CMA). The deal, first announced in October, last year, will see Ebay merge Motors.co.uk with its other consumer-facing car sales business Gumtree Motors. The CMA said at the time of launching its probe in December that it [...]