Fevertree shares sink 20 per cent as it warns on profit January 20, 2020 Fevertree’s shares plunged today as it warned that “subdued” Christmas trading in the UK would knock 2019 profit lower than last year’s total. The tonic maker now expects revenue growth of 9.7 per cent to £260.5m, compared to 2018’s 40 per cent growth rate. That will see sales miss expectations for 2019, leading Fevertree to [...]
Intu shares fall as it enters talks to raise more money January 20, 2020 Intu today confirmed it will seek to raise equity as it works to patch up its shaky balance sheet after a dreadful 2019 for retailers. The commercial real estate giant today insisted it was making “good progress” on improving its balance sheet, hailing a “busy” Christmas and saying footfall was 0.3 per cent up last [...]
What happened to the pound, euro and US dollar in 2019? January 20, 2020 It has been a year of ups and downs for sterling, largely dominated by political and geopolitical factors. Investors’ concern over the outcome of Brexit largely overshadowed other factors. Despite celebrating its 20th anniversary in 2019, it wasn’t a banner year for the euro. Over the last 20 years, the euro has strengthened by 27 [...]
Department store chain Beales falls into administration January 20, 2020 Department store chain Beales has entered administration this morning, putting more than 1,000 jobs at risk. The retailer had been in crisis talks with potential buyers in a bid to stave off a collapse, however the company was unable to secure a deal. Professional services firm KPMG has been appointed as administrator, and the firm’s [...]
UK house prices: Post-election surge breaks records January 20, 2020 The decisive result of the General Election sparked a record-breaking surge in UK house prices in December and January, in the latest sign that the UK housing market has been revitalised by a “Boris bounce” There was a 2.3 per cent monthly surge in the average price of property coming to the market between 8 [...]
Third of retailers issue profit warnings in ‘bruising’ year for UK high street January 19, 2020 A third of retailers issued a profit warning last year following a “bruising” year for the UK high street. For the second year in a row, a third or more of the FTSE retailer sector warned on lower profits over the course of 2019. The number of profit warnings fell from 36 in 2018 to [...]
Gold is the new gold: Why the safe haven investment could shine in 2020 January 18, 2020 The start of 2020 has certainly been a rude awakening for traders returning to work after the Christmas break. Oil prices spiked after the US assassination of Iranian general Qasem Soleimani ignited tensions in the Middle East. Equities were shaken, and investors flocked to safe haven assets in a bid to shelter from the storm. [...]
Cranswick upgrades profit as African Swine Fever boosts UK exports January 17, 2020 British butchers Cranswick said this morning that its full-year profit will beat expectations after export sales soared due to African Swine Fever. The company said “export sales have continued to be exceptionally strong”, as an outbreak of African Swine Fever in China has seen the demand for British pork rise. “African Swine Fever has created [...]
Premier Foods boosts sales of festive favourites over Christmas period January 17, 2020 Premier Foods boosted sales over the Christmas period as customers stocked up on traditional festive food such as gravy, stuffing and mince pies. UK sales were up 3.6 per cent in the 13 weeks to 28 December, as Mr Kipling sales grew 10 per cent following marketing investment and new product launches. The sale of [...]
UK retail sales decline knocks sterling lower January 17, 2020 UK retail sales fell in the “golden quarter” of Christmas trading, the latest statistics showed today in a further sign of the challenges facing the British high street. In the three months to December 2019, the amount spent and the quantity bought in the retail industry fell 0.9 per cent and one per cent respectively, [...]