No-shows at pubs, restaurants and bars double October 18, 2023 Pubs, bars and restaurants have seen the number of customer no-shows double over the past year, according to new figures. About one in eight reservations is not being honoured, with customers also not telling venues they need to cancel, research by industry experts from Zonal and CGA by NIQ has revealed. It comes amid a [...]
P&G tops profit estimates on pricing boost, resilient demand October 18, 2023 Procter & Gamble (P&G) topped market expectations for quarterly sales and profit on Wednesday, benefiting from higher prices as well as steady demand for its personal care products and cleaning supplies. While P&G’s moves to consistently raise prices over the past several months have dented sales volumes with some cost-conscious shoppers turning to cheaper alternatives, [...]
Jump in business rates could be ‘final nail in coffin’ for many pubs and shops, sector warns October 18, 2023 The chief executive for UKHospitailty said the latest inflation reading and could be a “final nail in the coffin" for many businesses
Philip Hammond ‘dismayed’ by Tory shift to ‘populism’ October 18, 2023 Lord Philip Hammond said he has been “dismayed” by the “populist turn” the Conservatives took. The former Chancellor told City A.M. while he thought the party was now “heading in the right direction” he had been “dismayed by the populist turn” the Tories took. During an interview about his role as chair of crypto firm [...]
More pain for punters: Wetherspoons meal could hit £30 by 2050 October 17, 2023 In 30 years time, the price of a cheeseburger in a London Wetherspoons may cost £19.00 and its all day brunch could cost nearly £28.
Selfridges losses narrow amid calls for return to VAT-free shopping October 11, 2023 The net loss for the year was £38.9m a stark improvement from an £83.9m dip it posted in the same period last year.
LVMH: Dior owner bolstered by demand for luxury goods but booze sales flag October 10, 2023 Luxury conglomerate LVMH reported organic revenue growth of 14 per cent at its third quarter results as it was bolstered by cash rich shoppers splurging on makeup and designer goods. The fashion giant, which owns the likes of Louis Vuttion and Dior, said revenues jumped 11 per cent year-on-year in its leather and fashion goods [...]
Burger & Lobster looks to gobble up more sites as turnover grows 43 per cent October 10, 2023 Burger & Lobster has revealed a 43 per cent increase in turnover as it lays out expansion plans for outside the capital. The London-born business just released its financial figures for last year with turnover reaching £32.7m – up 43 per cent on the prior year’s earnings when the business was rattled by pandemic restrictions. [...]
Potential buyers eye up Currys Greece and Cyprus arm October 10, 2023 The British retailer put the business up for review in June just two years after it took on the business after its takeover of Dixons.
Spending on restaurants and takeaways drops as Brits tighten belts ahead of Christmas October 10, 2023 September spelled further pain for restaurants and takeaways, with sales dropping as Brits cut back on eating out before the Christmas period.