Shopping centre owner New River ‘pleased’ with tenants’ Christmas trading January 22, 2020 Property landlord New River this morning said it was pleased with its tenants’ performance during the Christmas trading period despite a drop in footfall at its shopping centres. The real estate investment trust (REIT) said its top 15 tenants, which include Sainsbury’s, B&M, Primark, Next and Iceland, had reported a “robust” trading performance despite “challenging [...]
JD Wetherspoon toasts Christmas sales but warns on debt January 22, 2020 Pub chain JD Wetherspoon reported this morning that sales were up over the Christmas period, but warned that full-year debt will be higher than expected due to a spike in capital expenditure. The pub operator said like-for-like sales in the 12 weeks to 19 January increased 4.7 per cent, and total sales were up 4.2 [...]
Housebuilders lead FTSE 100 bounce as coronavirus fears abate January 22, 2020 The FTSE 100 rebounded this morning following its worst performance in two weeks on Tuesday, with housebuilders leading the blue chip index after Berkeley raised its planned shareholder returns. The index gained 0.10 per cent in morning trading, led by Berkley. The company climbed as much as 5.40 per cent to hit a record high [...]
Pets at Home groomed for 2020 glory after record Christmas January 22, 2020 Pets at Home is making progress in its bid to be top dog in the UK pet market, announcing a 12th consecutive quarter of growth in this morning’s trading update. The grooming company, which has said that it wants to generate 50 per cent of its revenue through services, saw group revenue grow 7.9 per [...]
WH Smith in the sun as travel division drives growth January 22, 2020 WH Smith defied the winter woes that have affected many of its fellow retailers, with revenue up seven per cent for the 20 weeks to Christmas. The growth was largely driven by an especially strong performance by the high street stalwart’s travel business, which runs stores in airports and rail stations. In total, the division [...]
Sainsbury’s CEO Mike Coupe to retire after six years January 22, 2020 Mike Coupe is set to retire as chief executive of Sainsbury’s after six years at the helm, the company revealed today. The CEO will leave the role in May before retail and operations director Simon Roberts takes charge in June. Mike Coupe said leaving had been a “very difficult decision for me personally”. Read more: [...]
‘Clerical error’ wipes out Dixons Carphone’s sales growth January 21, 2020 Dixons Carphone was left red-faced today as it admitted that its sales growth figure actually represented a decline. The retailer updated the stock market on its Christmas trading figures this morning, telling investors it had enjoyed a two per cent rise in reported sales. However, six hours on Dixons Carphone reversed the number into a [...]
Aldi announces pay rise and recruitment drive January 21, 2020 Aldi has announced it will increase the hourly rate paid to in-store staff members and hire more than 3,800 employees this year as it pushes ahead with its UK expansion plans. The budget supermarket said all employees will earn a minimum hourly rate of £9.40, a 30p per hour increase from the previous minimum wage [...]
Joules store closures hurt half-year profit after full-year warning January 21, 2020 Joules revealed a dramatic plunge in profit to just £1.7m today as it took a £6.7m hit to close stores and relocate its head office in the six months to the end of November. The figures Joules booked an 82 per cent drop in profit before tax from £9.3m this time last year to just [...]
The Harry & Meghan saga shows why your business needs a succession plan January 21, 2020 The drama taking place in the Royal House of Windsor is not only gripping material for a future episode of The Crown, but also a wake-up call to all businesses to have a plan for when important personnel step down or leadership responsibilities change. From the mom-and-pop store to publicly-listed giants, succession planning needs to [...]