Ted Baker shows signs of recovery despite falling share prices November 11, 2021 Ted Baker is enjoying rebounding sales and has cut its losses by 70 per cent, with the clothing chain looking to revive its fortunes as pandemic restrictions ease. Brand sales are up 23 per cent to £433m year-on-year, retail sales have grown 10.4 per cent to £136.9m during the same period, and overall losses have [...]
B&M report mixed-bag results amid supply chain pressures November 11, 2021 B&M European Value has reported group revenue increases of 1.2 per cent, in a patchy set of half-year results. The variety goods retailer has consolidated last year’s rocketing growth levels to reach £2.268bn in its interim results, which is a 26.8 per cent increase on its half-year results from 2020. On a two-year basis versus [...]
Burberry’s profits powered by soaring Americas sales November 11, 2021 British fashion house Burberry has been revived by rising revenues across the Americas, as full-price sales in the region nearly doubled in the first half of the year. Revenues in Europe remain 31 per cent down like-for-like on last years figures, while sales remain flat in Asia Pacific region. However, the firm is maintaining its [...]
Zebra Power enters administration November 10, 2021 Zebra Power (Zebra) has entered administration, appointing PwC to guide the process. The energy retailer supplied gas and electricity to approximately 15,000 domestic consumers before it ceased trading earlier this month. Its stranded customers have been designated by Ofgem to British Gas through its supplier of last resort process. The company is headquartered in Manchester [...]
London named most energy efficient region November 10, 2021 London has the most energy efficient housing in England and Wales, according to the Office for National Statistics. Its newly published report assessed the energy efficiency of housing in England and Wales up until March 2021. The report collected energy efficiency scores from every home with an energy performance certificate (EPCs). It revealed the London [...]
Oil rivals team up to build new drilling giant November 10, 2021 Maersk Drilling and Noble Corporation announced a $3.4bn merger to create one of the world’s largest offshore oil drilling rig companies. The merger will establish a new titan in the market with a fleet of 20 floaters and 19 jack-up rigs. The combined company will take Noble’s name and will be listed on both the [...]
Utility Warehouse pays £1.5m to Ofgem fund after failing customers in debt November 10, 2021 Utility Warehouse has agreed to pay £1.5m for treating some of its customers unfairly, and increasing their financial distress. The money will go into Ofgem’s voluntary redress fund, which supports vulnerable customers and finances innovation in the sector. The energy supplier has accepted it failed to consistently provide debt repayment plans to struggling customers from [...]
Central London weighs down Wetherspoons’ sales November 10, 2021 Sales across JD Wetherspoons’ pubs in central London have plummeted by 17.4 per cent from last year. Trade has recovered in cities such as Liverpool and Newcastle, which have enjoyed sales increases of 9.1 per cent and 11.1 per cent respectively. However, the capital continues to suffer with City workers only returning to the area [...]
Oil prices reach two-week highs amid supply pressures and air travel demand November 10, 2021 Oil prices continued their rebound on Wednesday morning, as both major benchmarks reached two-weeks highs. Prices have risen again after US crude stocks unexpectedly dropped last week, alongside rising air travel demand and easing Covid-19 restrictions. API data reportedly revealed U.S. crude stocks declined by 2.5 million barrels for the week to November 5. This [...]
Halfords upgrades profits guidance to £80-90m as autocentres drive rising revenues November 10, 2021 Halfords has upgraded its full-year profits guidance amid rising revenues for the rebounding company. The motoring and cycling retail giant £80-90m in full-year profits before tax, a hefty increase on previous estimates of £75m. The company has enjoyed a 19.2 per cent growth in revenues over the first half of the financial year. This has [...]
