Interserve CEO Debbie White confirms exit plan November 15, 2019 Interserve chief executive Debbie White has announced she will step down at the end of the year after implementing a turnaround plan at the company. The outsourcer also revealed a new operating structure, separating the group into three business divisions – construction, equipment services and support services – which will each be led by a [...]
Watchdog pauses investigation into First Group’s West Coast Rail franchise November 15, 2019 The UK’s competition watchdog has paused its investigation into the decision to award the West Coast Rail franchise to First Group after the company offered to make changes to the deal. The Competition and Markets Authority (CMA) said last week it would escalate its probe into First Group’s joint venture with Trenitalia on the route unless [...]
Fuller’s takes a hit on sale of brewery business November 15, 2019 UK pub chain Fuller, Smith & Turner warned this morning that the costs associated with the sale of its brewery business to Japanese beer giant Asahi have been higher than expected. Shares in the company fell 5.69 per cent to 990.24p after it said profit for the full year ended 28 March is expected to [...]
Asda blames sales slump on Brexit uncertainty November 14, 2019 Asda said Brexit uncertainty is negatively affecting consumer spending as the supermarket giant reported a dip in sales in the third quarter. Like-for-like sales, excluding petrol, fell 0.5 per cent in the third quarter as Brexit and the upcoming general election ramped up the levels of uncertainty. Read more: Asda gives hundreds of employees extra [...]
New build homes drive UK housing supply increase November 14, 2019 UK housing supply soared in the year to the end of March driven by an increase in the number of new homes being built. There were 241,130 net additional dwellings, up nine per cent on the previous period, with new build homes accounting for 213,660. Read more: UK house prices enjoy sharp annual growth Change [...]
Ceramics maker Portmeirion warns on profits November 14, 2019 Ceramics maker Portmeirion warned that profits would be lower than expected this year after export sales plunged due to weakening demand in South Korea. In a trading update this morning the company said “significant historic demand” for its classic Botanic Garden ranges had led to other countries shipping in to South Korea, resulting in overstocking [...]
Christmas adverts 2019: John Lewis unveils Excitable Edgar campaign November 14, 2019 John Lewis has unveiled its highly anticipated Christmas advert this morning, telling the story of a little girl and her accident-prone dragon Excitable Edgar. In the two minute 30 second clip, which marks the department store’s first joint Christmas marketing campaign with Waitrose, viewers see Edgar accidentally derail Christmas festivities with his fire breathing tendencies. [...]
New store openings drive revenue increase at Card Factory November 14, 2019 Card Factory has reported a jump in revenue this year driven by sales at new stores and a boost in online trading, as sales at existing stores slumped due to falling high street footfall. In the nine months to 31 October revenue increased five per cent as Card Factory grew its store portfolio with 38 [...]
Burberry boosts revenue despite Hong Kong disruption November 14, 2019 Shares in Burberry jumped more than five per cent this morning after the luxury retailer reported it is on track to meet expectations despite political disruption in Hong Kong, which contributed to a slump in sales in one of the retailer’s core markets. The figures Burberry increased revenue by three per cent to £1.3bn in [...]
Takeaway.com boss has no plans to increase £4.3bn Just Eat bid November 13, 2019 The chief executive of Takeaway.com has said the company does not intend to increase its £4.3bn bid for food delivery app Just Eat, despite South Africa’s Prosus tabling a larger, unsolicited offer. Jitse Groen said he would not sweeten the bid for Just Eat in a bidding war with Prosus, which has made a cash [...]
