Dr.Martens says warehouse headache led to disappointing revenue rise as hunt for new CFO begins April 14, 2023 Dr.Martens posted a small rise in revenues for the fourth quarter as operational issues in its US warehouse continued to impact earnings. The boot maker said that for the period total revenue grew just six per cent as it spent time resolving bottleneck issues at its headquarters in LA , which impacted its American wholesale [...]
Supermarket price wars: Tesco slashes price of milk for first time in three years to rival Lidl and Aldi April 13, 2023 Tesco has slashed the price of milk for the first time in three years and locked the price of over 1,000 products, in the latest move by the UK’s biggest grocer to rival discounter supermarkets. As shoppers are forced to ‘shop around’ for the best-value options, Tesco has reduced the price of a pint of [...]
Liverpool Street redevelopment: Project secures support of key London business body April 12, 2023 A key business body has shown its support for the £1.5bn redevelopment of Liverpool Station as it calls for greater measures to streamline access to London’s financial hub. The City of London Chamber of Commerce said this morning that it has decided to back the redevelopment of Liverpool Street Station, which could potentially see new [...]
Air fryers and coffee machines send white goods retailer’s shares soaring April 12, 2023 Shares in Marks Electrical soared over seven per cent this morning after the online white goods retailer posted a 21.5 per cent rise in revenues. Despite an ongoing cost of living crisis, consumers splashing out smaller electrical appliances such as air fryers helped hike revenues up to £97.8m compared to £80.5m the prior year. In [...]
Everyman looks to expand after going back in the black thanks to ticket sales spike April 12, 2023 Everyman Media has said it is “cautiously optimistic” about the year ahead as the upmarket cinema chain posted soaring revenues and eyes six new sites across the UK. The London-listed entertainment chain posted revenues of £78.8m for the year up from £49.0m in 2021 as it was bolstered by new partnerships from Jaguar, Green & [...]
London flat sales beat pre-pandemic levels as property market stabilises April 12, 2023 Sales of London flats are up nearly 25 per cent on pre-pandemic levels, according to new data, in a sign that the City’s property market is starting stabilise. In March, flat sales in London were 23 per cent higher than in March 2019 – the first time monthly sales have been higher than in 2019 [...]
Retail sector pins hopes on King’s coronation to lift sales April 12, 2023 Shoppers put cost of living fears behind them as they splashed out on Mother Day gifts in March, helping to slightly boost retail sales, but damp weather and soaring inflation has left the sector holding out for the King’s coronation in May to see a “larger uptick” in sales. According to data by the British [...]
Tupperware warns it will go bust unless it can improve finances April 11, 2023 Tupperware, the US maker of reusable food storage containers, has warned that it will go bust unless it can quickly improve its finances. Shares in the business tanked nearly 50 per cent on Monday after it revealed there was “substantial doubt” about its ability to continue. The 77-year old brand said that it was “actively [...]
Cineworld shareholders to be wiped out under new restructuring plan April 11, 2023 Shares in Cineworld tanked over 30 per cent this morning after the embattled cinema chain revealed that it would be forced to wipe out shareholders as part of its plan to exit bankruptcy. The London-listed firm, which filed for bankruptcy in the US last autumn, said today that it has filed a “plan of reorganisation” [...]
Netflix and starve: Cash strapped Brits cut back on groceries and spend more on TV subscriptions April 11, 2023 Cash strapped Brits have cut back on grocery shopping and dining out last month, but spent more on streaming services services Netflix. Consumer card spending grew just 4.0 per cent year-on-year in March, less than half of the latest inflation rate of 9.2 per cent, as the cost of living crisis drives consumers to cut [...]
