Bestival creditor Richmond Group offers to buy the festival brand for £1.1m September 26, 2018 Bestival financier Richmond Group said today it has made an £1.1m offer to the festival's organisers for its brand and assets. Bestival Group filed for administration with the High Court last week, and on Sunday said the search for a partner for its family-friendly Camp Bestival event was ongoing despite facing "financial challenges". Richmond Group [...]
Online-only retailers outpace their bricks and mortar rivals as fresh evidence of high street troubles emerge September 26, 2018 Online-only retailers’ sales have grown 24 times faster than those of bricks and mortar firms in the last five years, according to new data which underlines the current woes facing high street shops. A report out today from data specialist GBG Loqate shows that pure-play online retailers have grown their sales by 281 per [...]
William Hill agrees partnership to target US state sports betting deals September 26, 2018 William Hill has agreed a multi-year partnership with US gaming giant IGT in a bid to secure sports betting deals with state lotteries. The pair have already secured a contract to run sports betting for the Rhode Island Lottery and hope IGT's sports betting platform, along with William Hill's mobile offering and expertise, will lead [...]
Out with the old, in with the new UK high street September 26, 2018 A tale of two retailers dominated the high street yesterday – Next’s shares jumped nearly eight per cent after the fashion giant lifted its full-year profit guidance while Card Factory’s shares lost a tenth of their value after profits were off-message. Read more: Next nudges up profit guidance after blistering summer The diverging fortunes [...]
Nike boss stands by Colin Kaepernick ad campaign as sales soar September 26, 2018 Nike boss Mark Parker has stood by his company's controversial ad campaign featuring American Football star Colin Kaepernick, saying he is "proud" of it. In a call with analysts yesterday following the company's results, Parker said the campaign had caused "record" engagement and is driving sales of its products. Nike's share price plunged three per [...]
Pub giant Shepherd Neame serves up rising profits September 26, 2018 Britain’s oldest pub owner posted a five per cent rise in profit in the year to the end of June this morning, following 12 months that have seen the brewer ramp up its operations in London and the south east. Read more: Spirits in the sky as pub landlord enjoys bumper summer of profits Shepherd [...]
Model maker Hornby on track to meet targets despite drop in sales September 26, 2018 Model train maker Hornby told investors its trading outlook was staying on track this morning, despite a drop in sales over the last six months. Ahead of its annual meeting later on today, the company gave a trading update – saying its decision to slow discounting has led to lower sales. However, it said not slashing [...]
Smiles all round as Boohoo’s rising revenue trumps City forecasts September 26, 2018 Online fashion retailer Boohoo bumped up its forecast for full-year sales growth this morning in the wake of better-than-expected revenues during the first half of 2018. The PrettyLittleThing.com owner’s revenue hit £395m in the first six months of the year, marking a sharp 50 per cent rise compared with the same period in 2017. [...]
Aldi and Lidl continue to attract customers – so what impact will Tesco’s budget chain Jack’s have? September 26, 2018 Recently Tesco unveiled its first Jack’s discount store. With a strong emphasis on Britishness and home-grown products, the brand is seen as a challenger to the German supermarkets, Aldi and Lidl. I have often talked in this column about the growth of both Aldi and Lidl, and YouGov BrandIndex data points to the continued improvements [...]
Unilever hits back over City fury at Dutch move September 25, 2018 Unilever has stepped up its charm offensive on City investors as it tries to combat a brewing shareholder revolt over plans to ditch its London headquarters. The consumer goods giant has organised meetings with the most vocal opponents of the plans in an attempt to assuage their fears, although its attempts to change minds have [...]
