Sainsbury’s sales slip in ‘tough’ supermarket environment July 3, 2019 Sainsbury’s sales fell in its latest quarter, the supermarket revealed today, as boss Mike Coupe warned of the consequences of a no-deal Brexit. Like-for-like sales slipped 1.6 per cent year on year for the four months to the end of June while retail sales dropped 1.2 per cent, piling pressue on Coupe after the supermarket’s [...]
Yesterday review: A chilling account of the harrowing symptoms of one man’s brain injury June 28, 2019 The phrase “feel-good comedy of the summer” should cause no small amount of bile to rise in your throat, but Yesterday is inescapably just that. A movie that seems algorithmically laser-targeted for success, it arrives just as ravenous audiences are lifting their faces from the dessicated carcass of last summer’s Mamma Mia 2, and are [...]
Hilco eyes up struggling retailer Bathstore June 21, 2019 Restructuring fund Hilco is set to pounce on UK retailer Bathstore as it teeters on the edge of collapse, it is reported. Hilco, which has already taken over struggling high street names like HMV and Homebase, is in the process of preparing for a take over of Bathstore, according to Sky News. Read more: Now [...]
Chance to buy one of the world’s largest retailers cheaply June 20, 2019 By Rodney Hobson from interactive investor. After a temporary technical hitch, this highly resilient company should soon shake off the blip. Rodney Hobson is an experienced financial writer and commentator who has held senior editorial positions on publications and websites in the UK and Asia, including Business News Editor on The Times and Editor of Shares magazine. He [...]
N Brown share price surges on digital sales boost June 20, 2019 Sales at N Brown fell despite growth in its digital division in the three months to the start of June, it revealed today. Read more: N Brown shares plunge on ‘disappointing’ offline sales Total revenue dropped 3.8 per cent year on year even though digital sales rose three per cent, the retailer said. Digital sales [...]
Lift off: Gatwick earnings rise after increase in long-haul flights June 18, 2019 London’s Gatwick airport cheered a bump in earnings during the last 12 months, as long-haul flights to the Far East helped deliver growth. Earnings before interest, tax, depreciation and amortisation (Ebitda) jumped 7.3 per cent in the year ending 31 March, driven by new routes, increased frequencies and retail development, the UK’s second largest airport [...]
Cut the obfuscation and let Britain move beyond Brexit June 17, 2019 Gone ’til November. The lyrics of rapper, activist and one-time Haiti presidential candidate Wyclef Jean. And it is the view of the great many of those vying to be Prime Minister: while we might be in the EU until October, we will be gone by November. You’d be forgiven for raising an eyebrow. Groundhog Day [...]
Majestic Wine ‘in advanced talks’ over sale of retail arm June 13, 2019 Majestic Wine announced it was in advanced talks with multiple bidders over the sale of 200 stores as it focuses on its online business. The company plans to spin off the Majestic Retail and Commercial arm and focus on its Naked Wines brand, which has a “greater potential for growth”. The figures In the year [...]
Iceland speeds up store roll-out as Christmas ad improves perceptions June 13, 2019 Iceland Foods is aiming to speed up its store roll-out this year despite facing a market with uncertain customers. The figures Sales rose 4.5 per cent over the financial year to almost £3.2bn, the company announced today. Adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) fell 8.4 per cent to £140m. It came after [...]
Activist investor Elliott launches audacious bid for Majestic Wine stores June 12, 2019 Activist investor Elliot has launched a bid for 200 Majestic Wine stores as the retailer switches its focus from the high street to online. US-based Elliot has pitted itself against private equity firm OpCapita and Fortress, the investment group owned by Japan’s SoftBank, in the sale, in which Majestic is hoping to recoup £100m. Read [...]