Fast food chain Shake Shack shakes revenue up to $53.3m in third quarter of 2015 results November 5, 2015 Shake Shack has today reported total revenue of $53.3m (£35.1m) for its third quarter of 2015, an increase of 67 per cent from £31.8m from the same period last year. The fast-food chain also revealed net income for the period of $1.5m, up from $0.5m. Commenting on the company’s quarter, Randy Garutti, chief executive officer [...]
The atmosphere on Mars is being blown away by solar wind, reveals NASA in the latest update of its MAVEN project November 5, 2015 If you’ve ever been annoyed by a gust of wind blowing away your copy of City A.M., be thankful you’re not Mars. The red planet is having its atmosphere blown away by solar wind. In an update today of its Mars Atmosphere and Volatile Evolution – also known as MAVEN – mission, the National Aeronautics [...]
Martha Stewart Living Omnimedia revenue chopped 41pc to $17.5m for third quarter of 2015 November 5, 2015 Revenue for Martha Stewart Living Omnimedia has been almost chopped in half for its third quarter of 2015, dropping 41 per cent to $17.5m (£11.5m) from $29.6m in the same period last year. Despite this, the lifestyle company reported that it had edged closer to the black, with a net loss of $1.5m, compared to a [...]
Handbag designer Kate Spade fashions a net profit of $2.3m for third quarter of 2015 November 5, 2015 Kate Spade & Company revealed today that it had fashioned a net profit of $2.3m (£1.5m) for its third quarter of 2015, up from a net loss of $9.1m for the same period last year. The company, best known for its quirky range of women’s accessories, also announced a rise in net sales to $277m from [...]
Sports Illustrated publisher Time Inc net loss plunges to $913m November 5, 2015 Media company Time Inc, which publishes Sports Illustrated, InStyle and Time magazine, earlier today reported a net loss of $913m (£600m) for its third quarter of 2015, swinging from a net profit of $48m for the same period last year. Goodwill impairment of $952m, caused in part by falls in Time Inc’s share price, was [...]
Better skills are needed for better productivity, argues parliamentary report November 5, 2015 Developing skills is key to solving the UK’s productivity problem, a report published today by the government’s Education Committee and Business, Innovation and Skills Committee has argued. The paper, which features commissioned research from the National Institute of Economic and Social Research (NIESR), compares skills and productivity in the UK to that in the US, [...]
Facebook revenue surges up 41pc to $4.5bn for third quarter, sending share prices soaring in after hours trading November 5, 2015 ​Facebook has reported revenue of $4.5bn (£2.9bn) for the third quarter of 2015, up 41 per cent from $3.2bn for the same period the year before. Share prices soared 5.2 per cent to an after hours trading high of $109.34, compared to a market close price of $103.94. “We had a good quarter and got [...]
Social rents cuts a greater benefit to the exchequer than to tenants, finds think tank IFS in new report November 5, 2015 ​Slashing social rents will benefit the exchequer more than tenants, research published today by think tank the Institute for Fiscal Studies (IFS) has revealed. The report, which was funded by Trust for London, found that cutting social rents – the amount charged to social housing tenants – would only increase renters’ total disposable incomes by £0.7bn. [...]
Electronics company Qualcomm profits crash 44pc to $1.1bn for its fourth quarter of 2015 November 4, 2015 Electronics company Qualcomm today announced net income for its fourth quarter of 2015 had shot down 44 per cent to $1.1bn (£710m) from $1.9bn for the same period last year. Revenue for the company’s last quarter also dropped, although not quite so dramatically, falling 18 per cent to $5.5bn from $6.7bn. “Our fiscal fourth quarter [...]
Candy Crush creator King Digital Entertainment sees revenue fall seven per cent in third quarter November 4, 2015 Revenue for King Digital Entertainment has taken a knock for its third quarter results, revealed today, dropping seven per cent to $480m (£312m), compared to $514m for the same period in 2014. The mobile phone games developer highlighted falling sales in its popular Candy Crush franchise as one of the reasons behind the drop in [...]