High street sales struggled for the seventh month in a row in August September 9, 2016 High street retailers haven't managed to increase sales since the beginning of the year, according to data released today. Sales fell by 1.5 per cent year-on-year in August, which is the seventh month in a row of no growth for the sector, according to accountants BDO. Consumer confidence has bounced back somewhat since its immediate trough [...]
As Fabric closes its doors for the last time, is arbitrary state intervention killing London’s night life? September 7, 2016 Alex Proud, founder of Proud Galleries and Proud Camden, says Yes. Possibly the world’s greatest club has been closed. A club held by most in the industry (and until recently by the Met and Islington Council) as an example of good practice, run to the highest standards of professionalism, crime prevention and drug prevention. Six tragic [...]
Our resident chef Mark Hix on why we should make the most of our British plums September 6, 2016 I'm a bit fed up with seeing rock hard, imported plums on sale in supermarkets. What’s the point? They sit in the fruit bowl taking ages to ripen, then they go off after a few days. What’s wrong with our home grown plums? We grow plenty of varieties here, from the well-known Victoria to the [...]
Takeaway.com eyes imminent IPO on Euronext stock exchange after snapping up Just Eat’s Benelux operations September 6, 2016 The Netherlands’ largest restaurant delivery site Takeaway.com will seek to list on Amsterdam’s Euronext stock exchange in the next few weeks, the company announced today. Although previously active in the UK, earlier this summer Takeaway offloaded its entire British operations to Just Eat for an undisclosed sum, before snapping up Just Eat’s Benelux arm for €22.5m [...]
Consumer spending hit a 13-month high in August as Brits overspent on holiday September 6, 2016 Consumer spending hit a 13-month high in August, boosted by the nation's holiday overspend on the back of the decline in the value of sterling. Overall, spending increased by 4.2 per cent year-on-year in July, according to Barclaycard, which collects data on consumer spending in everything from retail to food and leisure. Holiday spending boosted [...]
Is Britain a BBQ nation? Laura Ivill thinks so and she’s spent the last few days of summer learning some grill skills September 1, 2016 Brits love to BBQ. I count the quality of the summer by how many BBQs I’ve had. A couple of years ago I had a New Zealand friend staying. So in tune with the BBQ lifestyle are the Kiwis that his family would have a cook-up on Christmas Day. On balmy evenings we would fire [...]
Campbell’s shares slump in the pre-market after “disappointing” results September 1, 2016 Consumer demand for fresher produce is putting the squeeze on the world's largest maker of soup, Campbell's. The soup brand has posted a net loss attributable to the company of $81m (£61m), or 26 cents per share, compared with a profit of $17m a year earlier. Net sales dipped 0.35 per cent to $1.69bn in the fourth quarter ended [...]
Nando’s takes flight by offloading GBK to South African restaurant chain September 1, 2016 One of the original purveyors of the upmarket burger has been sold to the owner of 1980s stalwart Wimpy for 2.1bn rand (£109m). In a deal that really cut the mustard South African fast food group Famous Brands bought Britain's Gourmet Burger Kitchen (GBK) as it saved nearly a fifth on the price due to the weaker pound in the wake [...]
How not to make a dog’s dinner of your business lunch September 1, 2016 City A.M. recently declared the death of the business lunch, after research showed two thirds of Brits have seen a decline in the number of professional restaurant rendezvous. This is unsurprising, given our heavy workloads and the fashion of spending much of our time talking via email. While we may not have the professional inclination to [...]
Ex-Tesco finance chief cleared over accounting scandal August 31, 2016 Tesco's former finance chief Laurie McIlwee has been cleared by the Financial Reporting Council (FRC) over the supermarket's accounting scandal two years ago. The FRC was investigating McIlwee after it emerged in 2014 that the company had been overstating its profits in its accounts stretching back to 2012. McIlwee resigned his position as chief financial officer in April 2014, five [...]