Online growth offsets betting machine sales slump for Ladbrokes owner GVC January 17, 2020 Ladbrokes owner GVC Holdings this morning said full-year profit will be at the top end of guidance following strong growth in its online business. The betting firm said full-year earnings before tax, interest, depreciation and amortisation is expected to be at the top end of upgraded guidance of £670m to £680m. Online net gaming revenue [...]
Premier Foods boosts sales of festive favourites over Christmas period January 17, 2020 Premier Foods boosted sales over the Christmas period as customers stocked up on traditional festive food such as gravy, stuffing and mince pies. UK sales were up 3.6 per cent in the 13 weeks to 28 December, as Mr Kipling sales grew 10 per cent following marketing investment and new product launches. The sale of [...]
UK retail sales decline knocks sterling lower January 17, 2020 UK retail sales fell in the “golden quarter” of Christmas trading, the latest statistics showed today in a further sign of the challenges facing the British high street. In the three months to December 2019, the amount spent and the quantity bought in the retail industry fell 0.9 per cent and one per cent respectively, [...]
Retail health hits record low in 2019 January 16, 2020 Retail health hit a record low last year as high street stores battled weak consumer demand and faced pressure to slash prices. The latest Retail Health Index published by a KPMG and Ipsos think tank hit a record low of 74 in 2019 – the worst result since the tracker was established in 2006. The [...]
Number of small pubs rises for first time in 15 years January 16, 2020 The number of small pubs and bars increased for the first time in 15 years last year, as consumers splashed the cash on meals out, according to the latest statistics. Small pubs and bars, which have fewer than 10 employees, increased by 85 – a 0.4 per cent rise – following more than a decade [...]
Mike Ashley’s Frasers Group to close six Jack Wills stores January 16, 2020 High street fashion brand Jack Wills has announced it will shut six stores, blaming “unhelpful” landlords for the closures. Mike Ashley’s Frasers Group, which bought the fashion retailer out of administration for £12.8m last year, today said shops in Bournemouth, Camberley, Cheltenham, Soho, Turo and Witney will close within the next month. Ashley’s retail empire, [...]
Moss Bros’ transformation plan progresses despite sales slump January 16, 2020 Suit retailer Moss Bros said this morning that it is making headway with its transformation plan, despite reporting a dip in sales. The menswear store said it has made “good progress overall” in its bid to elevate the brand and improve long-term performance. Moss Bros said it has improved its retail gross margin rates in [...]
Finsbury Food shares dip on international sales slump January 16, 2020 Shares in Finsbury Food dipped this morning as the baked goods producer reported that international sales dropped in the last six months of 2019. The food manufacturer, which produces Mary Berry products, Mars cakes and Vogel bread, reported that sales in its overseas division fell 3.5 per cent in the six months to 28 December [...]
Premier Inn owner Whitbread sales drop in uncertain market January 16, 2020 Premier Inn owner Whitbread reported this morning that like-for-like sales fell in the third quarter as business uncertainty impacted travel plans. Shares dropped more than five per cent after the company said like-for-like sales dipped 1.3 per cent in the third quarter, dragged down by a 2.1 per cent drop in accommodation sales. Like-for-like food [...]
Primark UK store sales dip as retailer outlines expansion plans January 16, 2020 Primark’s like-for-like UK in-store sales dipped over the Christmas trading period, the budget retailer announced this morning. The high street chain’s owner Associated British Foods (ABF) said today that there was a “marginal decline” in like-for-like UK sales in the 16 weeks to 4 January. However, the impact of extra store space boosted total UK [...]
