Sandwich maker gives shareholders a taste of the profits after sale of US arm December 4, 2018 Irish food company Greencore put a smile on the face of its shareholders this morning, posting a rise in profits and pledging to return cash to investors following the sale of its US arm. Pre-tax profits at the sandwich, salad and sushi maker rose 13 per cent to £17.8m in the financial year to the [...]
Consumer spending growth falls as festive shopping fails to boost high street December 4, 2018 Consumer spending growth fell year-on-year in November to its lowest level since March as falling confidence continues to impact struggling retailers. Growth in consumer spending was just 3.3 per cent, dragged down by poor sales in the retail sector, according to new figures from Barclaycard. The figure is the lowest since March this year, when [...]
Mike Ashley calls for online sales tax to revive high street December 3, 2018 Sports Direct billionaire Mike Ashley has urged the government to tax online retailers as he put up a spirited defence of his own retail operation in front of MPs today. In a fiery appearance in front of a parliamentary committee the retail tycoon said “web boys” that make over 20 per cent of their retail [...]
Shares in furniture retailer Dunhelm soar after broker upgrade December 3, 2018 Shares in home furnishings retailer Dunelm rocketed over 14 per cent after analysts at Peel Hunt upgraded their recommendation to buy. Peel Hunt said there are “clear catalysts for recovery” for the company next year, citing better brand awareness and improving online performance. The broker said Dunelm’s performance last financial year had been negatively affected [...]
Support your local small business all year, otherwise it might not stick around December 3, 2018 American Express’s Small Business Saturday last weekend saw a call to arms to encourage us to shop locally and support small businesses. Since its launch in 2010, this annual event now reaches millions of people across the US, UK and Australia, helping independent retailers get their share of the Christmas spending frenzy. Small Business Saturday [...]
Ted Baker launches investigation into harassment claims against ‘forced hugs’ boss December 3, 2018 Ted Baker has launched an internal investigation into claims its chief executive and founder harassed female staff members. The FTSE 250 firm’s shares took a dive this morning, dropping more than 14 per cent in early trading. In an statement released today, the fashion retailer’s board said it has launched a “thorough and urgent” external [...]
Unilever invests in India with €3.3bn deal for Horlicks December 3, 2018 Unilever has agreed to buy GlaxoSmithKline’s nutritions arm, including Horlicks, a week after press reports the two were in exclusive talks. The €3.3bn (2.9bn) deal will give the British-Dutch consumer goods company a substantial presence on the growing Indian market. It will buy GSK’s health food drinks portfolio in India, Bangladesh and 20 other mainly [...]
McColl’s shares plunge on profit warning December 3, 2018 Convenience store chain McColl’s today cut its profit forecast for the year, sending its shares tumbling more than 20 per cent. McColl’s cut its adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) for the 2018 financial year to £35m, down from a previous estimate of £44m. The business blamed the profit cut on disruption [...]
Floom set to blossom across the US as it raises £2m for international growth and new software services December 3, 2018 Online flower delivery site Floom has raised £2m as it looks to expand across the US over the coming year. The business, which was founded in 2016 by Lana Elie, connects independent flower shops with a system that allows them to sell bouquets online. Likened to Just Eat, Floom has set up to offer same-day [...]
Pubs reap rewards of World Cup summer as third quarter beer sales grow, but Brexit uncertainty looms December 3, 2018 The haze of a long, hot World Cup summer drove British drinkers to buy more beer in the third quarter than the year before for the first time in more than 15 years. UK pubs saw beer sales grow 0.9 per cent year on year from August to October, with around 941.5m pints changing hands over [...]