Advertising titan WPP lifts net sales forecast August 5, 2022 The world’s biggest advertising group, WPP, has hiked its full-year net sales outlook, anticipating buoyant spending by clients. The London-listed firm said it now anticipates net sales to grow six to seven per cent in 2022, on a like for like basis. This was an adjustment upwards from a previous forecast of 5.5-6.5 per cent. [...]
Hundreds of Amazon warehouse workers continue walkout over pay August 4, 2022 Amazon workers at an Essex warehouse are walking out for a second day on Thursday, in a protest calling for a “drastic” pay improvement. On Wednesday night and Thursday, around 400 workers at the Tilbury operation walked out over the US tech giant’s offer of a 35p per hour pay offer. Workers in the GMB [...]
Consortium inks £3.7bn takeover deal for Mediclinic August 4, 2022 Hospital chain operator Mediclinic is to be bought by a consortium for an equity value of around £3.7bn. The South African investment holding firm has snapped up the UK operation alongside MSC Mediterranean Shipping. “The recommended offer represents a near-term value realisation for Mediclinic shareholders at an attractive premium,” Dame Inga Beale, chair of Mediclinic, [...]
The Gym Group sees memberships leap as boss lauds ‘once in a generation’ growth opportunity August 4, 2022 The Gym Group has said membership has swelled 10 per cent in the past six months, as it eyes the autumn opportunity to sign up returning university students. The gym operator, which runs 215 sites, shared that revenue had leapt to £84.2m and group adjusted EBITDA to £33.5m. The London-listed company hopes to have 300 [...]
Next sales up as shoppers flock back to high street but firm warns of slowdown as inflation hits August 4, 2022 Next has shared elevated quarterly sales, suggesting that warm weather and the closure of high street rivals has driven shoppers into stores. In a trading update on Thursday, second quarter full price sales were boosted five per cent versus last year, some £50m ahead of the clothing firm’s previous guidance. Next attributed this to a [...]
Cost of living: Morrisons follows Tesco and Asda in announcing fuel price cut of 6p per litre August 3, 2022 Morrisons is the latest supermarket to announce it is slashing the price of fuel, as households struggle to stay afloat amid a cost of living crisis. The retailer said on Wednesday that it had cut the cost of unleaded and diesel by an average of six pence a litre over the last week at all [...]
Starbucks posts record quarterly sales while Chinese stores feel Covid side effects August 3, 2022 Starbucks shares were elevated on Wednesday after the coffee chain posted record quarterly revenue. However, the US giant said its bottom line had been impacted by inflationary cost pressures and higher wages. It surpasses sales expectations, posting third quarter sales topping $8.2bn, ahead of analysts’ bets of $8.1bn. Roaring sales in the chain’s largest market [...]
Hosepipe ban introduced in Kent and Sussex as UK faces drought fears August 3, 2022 Residents in Kent and Sussex have been hit with a hosepipe and sprinklers ban, with South East Water introducing the measure to tackle dry weather. The water company is the second firm to launch such a ban, with the measure taking effect from Friday 12 August. England saw its driest July since 1935 last month, [...]
1 in 5 nightclubs disappeared since Covid onset as industry head warns of slowing ticket sales August 2, 2022 One in five nightclubs have disappeared over the past three years, with bosses crying out for support as ticket sales slow amid the economic crunch. Nightclub numbers have dwindled to just 1,130 venues across the country during the Covid-19 pandemic, according to figures released by the Night Time Industries Association (NTIA) through insights firm CGA. [...]
Domino’s Pizza UK franchisee posts subdued profit amid inflationary crunch August 2, 2022 Domino’s Pizza has taken a hit to pre-tax profit in the first half of the year thanks to the heightened costs of food. The London-listed company posted profit of £50.9m for the six months to 26 June, a 16 per cent drop in profit versus the previous year. The firm said it began passing on [...]
