Diageo investing €25m in new Irish whiskey brand January 31, 2017 The world’s largest spirits producer will launch a new whiskey brand “Roe & Co” in March with bottles expected to retail at around £30. Until a new facility is completed at the company’s Guinness HQ in Dublin, Roe & Co will be produced from whiskies sourced across the firm’s Irish distilleries. The investment marks a [...]
H&M profits get a small boost as new store opening on the cards January 31, 2017 Fashion darling H&M today revealed a small increase in profit after missing estimates for five of the previous six quarters. The figures The Spanish retailer's profits after tax stood at £1.7bn (18.636bn kronor) in the year ending 30 November 2016. Sales in the first 29 days of this month rose 11 percent at constant currency rates, up [...]
Investors failed to keep calm and carry on in 2016, despite markets hitting new highs January 31, 2017 Investors were spooked by politics in 2016 and, despite markets like the FTSE 100 hitting record highs, fund sales were at their lowest since 2008, new figures show. Total net sales for 2016 were £13bn, according to the Investment Association, down from £22.4bn in 2015. Retail investors proved the most pessimistic, with sales totalling £4.7bn, down [...]
Eurozone GDP growth beats expectations as inflation edges up January 31, 2017 It's a good day for the Eurozone, which beat expectations on growth and unemployment today – while inflation edged up. Figures published by Eurostat, the region's statistics authority, showed gross domestic product grew 0.5 per cent in the euro area, pushing inflation for the full year up to 1.8 per cent. Although it was slightly down from [...]
Ocado’s share price jumps eight per cent at the open on profit surge January 31, 2017 Ocado's share price jumped eight per cent at the open as it reported a spike in profits. The company's full-year profits beat expectations – despite rising labour costs and price deflation throughout last year. The figures In its results for the year ending 27 November, Ocado reported a 13.6 per cent rise in gross retail sales, up from [...]
Consumer confidence climbed this month, but signs point to slowing spending in 2017 January 30, 2017 Overall consumer confidence edged up this month, but Britons showed they have less faith in making major purchases, signalling a spending slowdown in the year ahead, a new report suggests. GfK's consumer confidence index, published today, climbed two points to minus five in January. Three of the five measures experienced increases this month, one was unchanged and one decreased. It was the [...]
Shoppers flocked to St Pancras for luxury goods from John Lewis and Fortnum & Mason over Christmas January 30, 2017 St Pancras International scored an uplift in sales over the festive season, as shoppers flocked to the train station to stock up on Christmas gifts. Over the ten weeks from 29 October to 31 December, St Pancras scored a 6.2 per cent sales growth year-on-year. This compared to a growth of 1.7 per cent across [...]
Fever-Tree is branching out as it finds there’s more room to grow January 30, 2017 Posh tonic maker Fever-Tree has a knack for finding holes in the market. More than a decade after founders Tim Warrillow and Charles Rolls launched their first product, an Indian tonic water, the firm is flying. The company’s premium alcohol mixers, including Sicilian lemonade and ginger beer, are sold on and off trade to retailers, [...]
American brand Under Armour in talks to buy French Connection Oxford Street store January 29, 2017 American sportswear brand Under Armour is reportedly in talks to take over French Connection's flagship London store on Oxford Street. British retailer French Connection has been seeking a sale of the building as part of a turnaround plan, according to The Sunday Telegraph. The troubled retailer has been under pressure from activist investors to change [...]
More than 12 offers on the table for Agent Provocateur January 29, 2017 At least a dozen offers have been made for troubled lingerie brand Agent Provocateur, according to sources familiar with the chain's owner. Private equity company 3i put the retailer up for sale this month following disappointing December trading. The firm is seeking an offer which exceeds the brand's £30m debt pile. Sources close to the [...]