Starbucks tops expectations as profits rise by more than 10pc July 24, 2014 Global coffee giant Starbucks topped Wall Street expectations once again. The Seattle coffee chain reported earnings per share of $0.67 for the quarter ended in June, compared to $0.66 forecast by analysts. Starbucks, which has stores in 63 countries and over 200 stores in London, said revenue rose by more than 10 per cent to [...]
Royal docks business park gets go-ahead for new development July 23, 2014 Plans by a Chinese developer to create a £1bn business park in London’s royal docks aimed at attracting more businesses from China to the capital were granted planning permission last night. Beijing’s Advanced Business Park (ABP) plans to transform a 35-acre site – currently strewn with empty warehouses and unused docks – to create a [...]
Voiamo seeking to raise £10m in bid to speed up European rollout July 21, 2014 London-based low cost data roaming service Voiamo has agreed a pan-European deal with Europe’s largest consumer electronics chain, Media Markt. The chain will now sell Voiamo’ low cost data roaming sim cards across its stores in Spain and Portugal from 1 August. The company has launched a £10m fundraising round to accelerate its country roll-out [...]
The Hut Group in line for £100m KKR investment July 21, 2014 US private equity firm KKR, the owner of Boots, is set to take a major stake in online retailer The Hut Group, its first foray into the burgeoning online fashion market. A group of investors led by KKR will buy just under 20 per cent of the Manchester-based company from existing shareholders for about £100m. [...]
London retail drives decline in UK footfall July 21, 2014 Retailers recorded a decline in footfall for the third month running in June, despite the strength of the economic recovery, with London’s shops reporting the steepest decline. The overall 0.7 per cent drop in foot traffic in June, compared to the same month last year, added to smaller declines in April and May, according to [...]
Chinese retailer Fraspens plans £40m Aim float July 21, 2014 ONE OF China’s largest outdoor clothing brands, whose board members include former Sportingbet chief Nigel Payne, has announced plans today for a £40m float on London’s junior market. Fraspens, based in Quanzhou, south east China, makes outdoor clothing, footwear and accessories sold in 580 outlets across China. The company is China’s third largest local outdoor [...]
Heaven in a box: Rococo Chocolates’ Chantal Coady talks hurricanes and strong wine July 20, 2014 Luxury chocolatiers weren’t a common sight in 1983 England. Stalwarts like Thorntons and Prestat were around but, save imports from the continent, it was a market waiting to be tapped. And 24- year old Chantal Coady realised this. The founder of Rococo Chocolates was then participating in the Youth Training Scheme, an on-the-job training course [...]
Spire Healthcare set for float at bottom end of price range July 16, 2014 Private health firm Spire Healthcare yesterday opted for the lower end of its previously published share price range for its imminent stock market float in London. One week ago, Spire announced a wide spread for the price range – from 210p to 300p, but is now looking at 210p to 220p, according to people closely [...]
Lidl goes on claret offensive with wine range to tempt wealthier Londoners July 16, 2014 Lidl is ploughing £12m into a wine range designed to attract wealthier customers away from rival British supermarket chains. The discount retailer which has flourished in recent penny-pinching times is heavily investing in the premium wine range, priced between £4.99 and £25.99, in a bid to attract middle class customers away from suffering supermarkets, the [...]
Stansted ups profits for owner Manchester Airport Group July 16, 2014 Manchester Airport Group (MAG) lifted earnings by 2.8 per cent to £242m in the last financial year, with the group benefitting from improving trends at Stansted Airport, which it acquired in February 2013. Passenger numbers were up 4.3 per cent at MAG airports to 43.8m, with Stansted seeing positive increases in passenger numbers after years [...]