Revolution Bars suffers share price drop in wake of profit warning January 14, 2019 Cocktail group Revolution Bars saw its share price dive this morning as it became the latest UK retailer to issue a stark profit warning, in spite of a Christmas boost for the business. Shares in early morning trading plummeted 17 per cent as the Manchester-based group warned of an expected 20 per cent drop in its [...]
Goals Soccer Centres miskicks on profits as US sales slow January 14, 2019 Goals Soccer Centres today warned that it is set to miss the target on its full-year profits. The five-a-side football firm blamed the mis-hit on slower US growth and tight margins in “ancillary activities” such as food and drink, sending shares down 2.8 per cent in early morning trading. As a result, Goals expects profits [...]
JD Sports eyes strong profits thanks to international expansion January 14, 2019 JD Sports today said it expects full-year profits to hit the higher end of its targets as international growth helped defy tough retail conditions. The sports retailer reported total sales growth of 15 per cent in the 48 weeks to 5 January, with like-for-like sales up five per cent in the same period. Read more: Retail [...]
Footfall slides in December as discounting does little to boost retail woes January 14, 2019 The number of shoppers visiting retail parks, shopping centre and high streets continued to slide during December, as attempts to claw back revenue lost earlier in the year through festive discounting failed to lift the fortunes for many of Britain’s bricks-and-mortar brands. New figures released by Springboard this morning have found that footfall in December tumbled [...]
Consumer group calls on Ryanair to refund passengers hit by name change “glitch” January 14, 2019 Ryanair came under renewed criticism today from a leading consumer rights activist for refusing to refund customers who were allegedly charged fees in error. Hundreds of customers were required to pay a £115 name change surcharge due to a "glitch" on Ryanair's website which caused incorrect surnames to be recorded on passenger bookings, according to [...]
HMV future could be decided this week as bid deadline looms January 13, 2019 The future of music retailer HMV will be decided this week as the deadline for rescue bids draws close. HMV collapsed into administration for the second time in six years late last month. Its administrator KPMG has set a deadline of Tuesday for suitors to lodge bids for the chain, Sky News was the first [...]
Fears over business rates mount as Britain’s major retailers prepare to form action group January 13, 2019 Some of Britain’s biggest retailers are coming together in an urgent bid to seek business rates relief from the government, City A.M. has learned. Around 50 major high street names are joining a mass lobbying effort to curb forthcoming rises in their property tax, as profits plunge in the face of falling sales and online [...]
City focuses on Boohoo as online giant hopes to defy retail gloom January 13, 2019 Online fashion giant Boohoo looks set to defy the gloom hanging over Britain’s retail industry later this week when it is expected to post another quarter of sharp sales growth. The City will be turning its attention towards the e-commer giant to see whether its festive fortunes were enough to buck a current trend of dismal [...]
World’s largest brewer AB InBev considers public listing of Asian operations January 12, 2019 Brewing giant Anheuser-Busch InBev is eyeing up a partial flotation of its Asian business in a move that could raise billions of dollars. The brewer behind major beer brands including Budweiser and Stella Artois is in discussions with bankers about a potential initial public offering (IPO) in Hong Kong that could help to reduce its [...]
Tesco and M&S reveal stockpiling amid concerns of a ‘no deal’ Brexit January 12, 2019 Two of the UK’s biggest supermarkets have revealed they are stockpiling food in case of a “no deal” Brexit. Both Tesco and Marks & Spencer have confirmed they are stockpiling long-life food such as packets and tins ahead of the UK leaving the EU on March 29. M&S chief executive, Steve Rowe, admitted his company’s [...]