Ferrari profits rise but Italian stallion won’t change gear on full-year guidance November 5, 2018 Profits at supercar manufacturer Ferrari rose almost five per cent in its third quarter, however the firm stuck to its full-year earnings guidance. The lack of an upgrade caused its share price to fall more than three per cent on the New York Stock Exchange in the first hour of trading this afternoon. Shareholders were [...]
Zizzi Salisbury branch made famous by Skripal attack to reopen tomorrow November 5, 2018 The Salisbury Zizzi branch that found itself at the heart of a suspected Russian plot to poison former spy Sergei Skripal and his daughter in March will reopen tomorrow. The quiet Cathedral city was thrust into the international spotlight after former Russian spy Skripal and his daughter Yulia were found slumped on a bench outside the restaurant [...]
DEBATE: Will Ikea’s new small store format in urban centres help save the high street? November 5, 2018 Will Ikea’s new small store format in urban centres help save the high street? Adrian Moorhouse, managing director of Lane4, says YES. Ikea’s experiment with smaller city centre stores is a great example of a brand evolving to stay connected to its customers, by accommodating the changing ways in which people both live and shop. As a lot [...]
More than 350 jobs lost as Crawshaw Group enters administration and shutters 35 stores November 5, 2018 More than 350 jobs will be lost after Crawshaw Group shutters 35 stores and a distribution centre, it was revealed this morning, as the butchers announced it has appointed administrators. Administrators from EY have been hired to sell off the listed firm’s assets over the next few weeks, and a total of 354 workers have been made [...]
Patisserie Valerie chairman Luke Johnson to refuse salary November 4, 2018 The chairman and executive director of embattled bakery Patisserie Valerie is to waive his annual salary for the rest of his tenure as he attempts to focus on bringing the chain back to life. Johnson has told the company's board he will forego his £60,000 annual salary in light of the firm's recent accounting scandal, according [...]
No bumps in the road expected for Halfords despite retail gloom November 4, 2018 Bicycle and car maintenance retailer Halfords is expected to report that business is running as usual in its half-year results next week, despite many other retail stores being negatively affected by this year's unusually long hot weather. The retailer is expected to remain on track for its full-year profit guidance, which will be broadly in line [...]
JD Wetherspoon faces opposition to finance director’s pay rise November 4, 2018 JD Wetherspoon may be hit with a shareholder revolt at the pub chain’s annual meeting this month over proposals to boost the finance director’s pay by more than 10 per cent. Proxy advisers ISS and Glass Lewis have recommended that investors oppose a 12.3 per cent increase in salary for finance chief Ben Whitley to [...]
Marks and Spencer results will reflect the high street’s health November 4, 2018 Results from Marks and Spencer’s clothing range – long the weaker twin to its strong food offering – will be closely watched when the retailer reports on Wednesday, after difficult results for several of its rivals. Consensus estimates from 11 analysts suggest the FTSE 100 firm will post half-year profits before tax of £203m, a [...]
Cafe Rouge owner brings in restructuring expert to negotiate lower rents November 4, 2018 Cafe Rouge owner Casual Dining Group has engaged a restructuring specialist to negotiate lower rents with landlords, the company revealed today. The group, which also owns restaurant chains Bella Italia and Las Iguanas, has hired Alvarez & Marsal to drive down prices as the group struggles in a "tough operating environment". The casual dining sector has [...]
Sushi chain Wasabi hires PwC in hunt for cash injection to fund expansion November 4, 2018 Sushi chain Wasabi is hunting for a new investor to drive international expansion, during a challenging period for the UK dining sector. Financial services giant PwC has been hired to search for an injection of capital, the firm confirmed today, which will be used to refurbish and expand the UK portfolio of around 50 stores. [...]