Battle of the Burgers: Burger King serves up sales growth to equal rival McDonald’s October 28, 2013 Fast food chain Burger King has reported higher quarterly profits on the back of cost reductions and higher same-restaurant sales growth in Europe, the Middle East, Africa and Asia Pacific. Burger King said that same-restaurant sales grew by 0.9 per cent in the third quarter – the same as the growth reported by rival McDonald's [...]
Why we should all remember the man who built Canary Wharf October 28, 2013 THREE major forces help drive progress: economic and legal institutions; people, especially risk-taking buccaneers and entrepreneurs; and chance. The creation of Canary Wharf is a case study of how all three factors interact: its rise from the ashes of the bankrupt Docklands transformed London’s economy, enabling it to build and retain a world class financial [...]
Crown Estate pushing ahead with £1bn Regent Street scheme October 28, 2013 THE CROWN Estate said yesterday it has begun works on the latest stage of its Quadrant development, part of its ambitious £1bn scheme to revitalise and open up the south end of London’s Regent Street. The Quadrant is made up of four blocks at the southern end of Regent Street at the sites of the [...]
Cinven edging closer to selling out of Gondola October 28, 2013 CINVEN is nearing an exit strategy for its investment in the company behind Pizza Express, Zizzi and Ask restaurants. Private equity group Cinven intends to hire banks within weeks with a view to selling or floating Gondola Holdings at some point next year. Cinven and Gondola, which sold off the Byron burger chain to Hutton [...]
We can thank Britain’s services industries for powering the recovery October 27, 2013 AS EXPECTED, the latest GDP figures show that the UK economy grew healthily in the third quarter of this year. All the main sectors – services, manufacturing and construction – contributed to growth for the second quarter in a row. This provides some reassurance that the recovery is broad-based, and that the momentum will continue [...]
Debenhams boss backs call for rates reform October 24, 2013 DEBENHAMS chief executive Michael Sharp became the latest retail boss yesterday to call on the government to overhaul the way in which it determines business rates, describing the current system as “outdated”. “It is clear that the current calculation is archaic and does not fit for the modern consumer world of today,” Sharp said. However, [...]
Bottom Line: Revamp can’t happen fast enough October 24, 2013 CHANGE can be good – great even – but it always come with risks. For months now Debenhams’ flagship Oxford Street store has been covered in scaffolding, with shoppers pointed towards a temporary entrance before being directed into a store that looks more like a building site than a shopping haven. All signs point to the [...]
Move into the heart of city living October 24, 2013 Make a smart international investment or simply live among some of the world’s most famous landmarks There are certain things non-Londoners take for granted that seem like every-day miracles to those living in the capital. Walking to work is one of them – the morning commute is inescapable in the Big Smoke. You can also [...]
Costa owner Whitbread sees strong growth despite unimpressive restaurant results October 22, 2013 Costa Coffee and Premier Inn owner Whitbread has reported strong interim results, with profit before tax up 12.6 per cent at £216.1m and a 12.4 per cent revenue increase in the six months to August. (Release) Whitbread, who also owns Beefeater Grill, saw like-for-like sales up 2.8 per cent for the period, and have increased [...]
Fast food sales growth slows at McDonald’s October 21, 2013 MCDONALD’S missed forecasts with its quarterly revenue figures yesterday, and warned that global sales in October are likely to be flat on last year. Sales at stores opened for at least 12 months rose 0.9 per cent in the third quarter, missing analysts’ expectations of a one per cent rise, according to Consensus Metrix. A [...]