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Retail and leisure

  • Burberry posts revenue success but says future depends on Chinese Covid recovery

    May 18, 2022

    Burberry reported a 23 per cent rise in revenue to £2.83bn, but said the ongoing outlook for the luxury brand depended on Chinese recovery. Despite group adjusted operating profit up to £523m, the comparable store sales in Asia Pacific were down seven per cent in the final quarter in the final quarter as lockdown batters [...]

  • Petrol firms defend ‘nauseating prices’ as business minister implores retailers to pass on fuel duty cut

    May 17, 2022

    Retailers have defended forecourt prices as politicians call for costs to be slashed after a fuel duty cut earlier this year. Business minister Kwasi Kwarteng has written to businesses to implore them to pass on the savings from a 5p per litre cut in fuel duty introduced in March. It comes after motoring group the [...]

  • Pubs and restaurants battle to keep prices competitive amid ‘intense pressure’ on margins

    May 17, 2022

    The hospitality sector has warned of “intense pressure” on margins while shoppers have been told food prices could surge as much as 10 per cent. Marks & Spencer chairman Archie Norman cautioned that shoppers could see an even pricey weekly shop amid historic levels of inflation.  Speaking to the BBC Radio 4’s Today programme on [...]

  • Rare items from personal collection of legendary Radio1 DJ John Peel to be auctioned off

    May 17, 2022

    Rare items from the extensive personal archive of pioneering DJ John Peel will be up for auction,  including by John Lennon, the Rolling Stones, Pink Floyd and a hand-written note from Queen’s Freddie Mercury. The legendary BBC Radio 1 host, who died in 2004, had an enormous musical collection of 120,000 albums estimated to be [...]

  • Tennent’s Lager maker sells minority stake in Admiral Taverns pubco

    May 17, 2022

    Bulmers maker C&C group intends to sell its entire minority interest in pub operator Admiral Taverns to Proprium Capital Partners for £55m. The drinks firm invested in the community pub chain in a joint venture with Proporium in September 2017. In C&C’s full year results published on Tuesday, it revealed the sale of the shares [...]

  • Morrisons owner CD&R eyes £2.5bn takeovers of facilities management titans

    May 17, 2022

    Morrison private equity owner is reportedly planning to snap up and merge two facilities management firms. Clayton Dubilier & Rice (CD&R) is in discussions to buy significant stakes in Atalian Servest and OCS, Sky News reported.  Last year, the New York-based private equity firm clinched a £7bn deal to takeover the grocer Morrisons.  The deals [...]

  • McDonald’s to launch on Deliveroo as app seeks to be ‘definitive’ online food firm

    May 17, 2022

    Hungry Londoners will be able to order McDonald’s through the Deliveroo app in the coming weeks as the firms forge a UK partnership.  The fast food titan will join the restaurants listed on Deliveroo in the UK during the second quarter of 2022. It comes after McDonald’s yesterday revealed it was injecting £250m into redesigning [...]

  • Shoe Zone walks the walk with revenue making a steady comeback

    May 17, 2022

    Budget shoe shop Shoe Zone announced a strong comeback this morning, with revenue up 73 per cent in the last quarter to £69.9m.

  • Tesco to increase payments to pig farmers by £6.6m amid ‘unprecedented costs’

    May 16, 2022

    Supermarket giant Tesco has announced it will increase payments to pig farmers by £6.6m, as the industry faces price hikes for wheat and soya. Total support for Tesco farmers will stand at £10m since March, as the farming sector faces staggering commodity price inflation. Feed prices have shot up since Russia’s invasion of Ukraine earlier [...]

  • Uber brings subscription service Uber One to the UK later this month

    May 16, 2022

    Uber has announced it will bring its subscription service Uber One to the UK later this month. Established to rival the likes of Deliveroo Plus and Amazon Prime’s food delivery services, Uber One will give customers free delivery on Uber Eats as well as discounts on rides. “We know users across our platform have been [...]

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