WH Smith misses out on Christmas cheer January 22, 2014 Stationery and book store WH Smith suffered a sad Christmas, with both overall and like-for-like sales sliding four per cent in the 20 weeks to 18 January. In line with what the company expected, its high street shops were the biggest drag on its performance, with total sales down seven per cent and like-for-likes down [...]
Growing food and booze sales give festive cheer to Marston’s January 21, 2014 MARSTON’S yesterday became the latest pub chain to report strong trading over the Christmas and New Year period, with like-for-like sales up 4.1 per cent. Food sales grew by 5.6 per cent in the 15 weeks to 18 January, the firm said, while at its more drinks-led managed pubs’ sales were up three per cent. [...]
MPs grill energy chiefs on power cuts over Xmas January 21, 2014 A COMMITTEE of MPs yesterday lambasted the bosses of energy distribution network companies, after hundreds of thousands of customers were left without power over Christmas. Basil Scarsella, chief executive of UK Power Networks, which distributes energy in London and the south east of England, said that the company’s “tried and tested” plans had struggled to [...]
Fat Face joins queue to float in London January 20, 2014 FAT FACE, the clothing company, is inching towards a stock market float after appointing Citigroup and Jefferies. The firm’s private equity owner Bridgepoint appointed Lazard before Christmas to explore options for the business, which it has owned since 2007. Yesterday’s move, first reported by Sky News, suggests it will pull the trigger on a float.
Morrisons’ tax boss arrested in watchdog probe January 20, 2014 MORRISONS’ treasurer and head of tax is under investigation by the Financial Conduct Authority (FCA) for insider trading ahead of its £216m tie-up with Ocado last year, in yet another blow for the troubled supermarket. Paul Coyle was suspended from his post after being arrested in December in Harrogate by the Yorkshire police in connection [...]
Amazon extends Sunday delivery to six more cities January 20, 2014 AMAZON will extend the Sunday delivery service that it trialled in London during December to six additional cities around the UK. Customers in Birmingham, Milton Keynes, Oxford, Nottingham, Manchester and Leeds will now be able to order items for delivery on any day of the week as part of Amazon’s Sunday delivery service. Sunday deliveries [...]
Store makeovers help Superdrug keep its tills ringing at Christmas January 20, 2014 SUPERDRUG yesterday posted a rise in like-for-like sales over Christmas thanks to a revamp of its stores and shoppers buying gifts such as perfume over the festive period. The health and beauty retailer, which launched 50 years ago on Putney High Street and now has 850 shops in the UK & Ireland, said like-for-like sales [...]
Portmeirion set to smash sales record for the fifth year running January 20, 2014 PORTMEIRION is expecting its fifth consecutive year of record sales after strong Christmas demand for its luxury tableware. The Aim-listed tableware producer, which also owns Spode, Royal Worcester and Pimpernel, yesterday forecast revenues of over £58m before tax for the 2013 calendar year. The figure is five per cent up on 2012. Portmeirion said it [...]
Mayfair’s billionaire hedge fund bosses are procrastinators just like the rest of us January 20, 2014 Call it procrastination, call it the post-Christmas pile of paper work, but most hedge funds and private equity groups still haven’t submitted their application to operate under new EU regulations coming into force this year, research shows. With less than six months to go until the new laws come into force, over 80 per cent [...]
Fat Face moves closer to stock market debut January 20, 2014 Clothes shop Fat Face is ratcheting up its plans to seek a listing on the London Stock Exchange, and has brought in a slew of bankers to advise on a possible flotation. Bridgepoint, the private equity group that owns Fat Face, hired financial advisory group Lazard in December to assess options. And after strong Christmas [...]