Ocado set to deliver impressive annual results with £1.27bn sales January 29, 2017 Grocery delivery service Ocado will announce its annual results on Tuesday, and is expected to report a profit for the third year in a row. The group's sales are likely to be up 14.4 per cent year-on-year to £1.27bn according to a report from investment company Goldman Sachs. Despite scepticism from City investors, the firm also [...]
American brand Under Armour in talks to buy French Connection Oxford Street store January 29, 2017 American sportswear brand Under Armour is reportedly in talks to take over French Connection's flagship London store on Oxford Street. British retailer French Connection has been seeking a sale of the building as part of a turnaround plan, according to The Sunday Telegraph. The troubled retailer has been under pressure from activist investors to change [...]
More than 12 offers on the table for Agent Provocateur January 29, 2017 At least a dozen offers have been made for troubled lingerie brand Agent Provocateur, according to sources familiar with the chain's owner. Private equity company 3i put the retailer up for sale this month following disappointing December trading. The firm is seeking an offer which exceeds the brand's £30m debt pile. Sources close to the [...]
Financial services report gloomiest outlook since 2008 crisis January 23, 2017 Hiring increases in the face of falling optimism rounded off a mixed picture for the financial services sector in the quarterly survey run by the CBI and PwC. The survey of 103 firms showed declining sentiment for the fourth consecutive quarter. A drop of 35 per cent in optimism about the overall business situation was [...]
Lloyds private equity arm takes a cut of Rush hair salon January 22, 2017 The private equity arm of Lloyd's Banking Group has announced a £16m minority investment in Rush Hair and Beauty. Backing from LDC will provide support for the business's expansion plans. The hairdressing chain currently has 85 branches, primarily in London, Essex, and the South East. More recently, branches have opened across the country in key [...]
Motorists to save £100m a year on MOT under new government plans January 22, 2017 Motorists with a new car will be able to wait an extra year before their first MOT test, under new proposals from the Department for Transport unveiled today. The plan will mean that new cars and motorcycles will not require an MOT for the first four years on the road, as opposed to the current [...]
Competition for football rights set to eat into Sky’s profits January 22, 2017 Sky is set to report a 10 per cent drop in profits on Thursday, according to a forecast by investment firm UBS. The broadcaster is expected to announce a fall in pre-tax profits to £673m in the six months to December, due to the increased costs of its Premier League coverage. However, the UBS report also predicted [...]
Super surprise for commuters as Heinz sets up emergency soup boxes in UK cities January 16, 2017 This week’s forecasted fog may be a real pea-souper, but it was a cream of tomato variety that lay in store for commuters this morning. Heinz is encouraging city-dwellers to beat the cold by smashing ‘In Case Of Emergency’ cases for a free can of tomato soup. Following the revelation that 75 per cent of [...]
Imperial Brands kicks off year of unrest over executive pay January 16, 2017 Imperial Brands is in danger of sparking a shareholder rebellion over plans to award its CEO as much as £8.5m a year. The Bristol-based tobacco company proposes to bump CEO Alison Cooper’s pay packet by up to £3m more than she received last year, if she meets targets. Shareholders will have the chance to vote [...]
London’s iconic Goring Hotel hits record £14m in revenue January 15, 2017 The Goring Hotel in Belgravia reported its highest ever turnover in 2016, coming in at more than £14m with a profit of £1.6m. In a year which saw the Goring Dining Room receive its first Michelin star and the hotel awarded five stars in the Forbes Travel Guide, profit before tax almost quadrupled to £2m. [...]
