Hollywood actor Ryan Reynolds partners with Richard Branson to stock gin brand on Virgin Atlantic September 25, 2018 A gin brand owned by Hollywood actor Ryan Reynolds will be stocked on Virgin Atlantic flights. Aviation Gin will not only be available at 35,000ft but will also be served in Virgin Atlantic Clubhouses. Read more: CYBG's £1.7bn takeover of Virgin Money approved by shareholders Londoners can get a taste of the spirit, which [...]
Imperial Tobacco expects vaping to be profitable by next year as it prepares to launch two new e-cigarettes September 25, 2018 Imperial Brands is set to launch a tobacco-infused e-cigarette in the first half of 2019 in an attempt to reach new customers as it predicts its vaping segment will be profitable by next year. The company will make further inroads into the vaping sector by launching Nixx to add to its signature e-cigarette Myblu, [...]
Michael Kors confirms $2bn Versace deal September 25, 2018 Michael Kors has acquired Italian luxury designer Versace for $2.12bn (£1.61bn), the US fashion brand confirmed today. Michael Kors Holdings will be renamed Capri Holdings, and Donatella Versace, sister of the late founder Gianni, will become a shareholder in the new company along with brother Santo Versace and daughter Allegra Versace. Read more: Fashion kingpin set to walk the runway with [...]
What’s Next? Questions remain over autumn results after retailer’s summer boost September 25, 2018 | City Talk There’s been no shortage of negative headlines surrounding UK retail in recent weeks with the woes of the sector hitting some high profile names in recent months including House of Fraser, Moss Bros last week, and John Lewis surprising the markets in reporting huge drops in profits. Earlier this year Next warned that trading conditions [...]
Analysts warn of Debenhams ‘value trap’ day after launch of turnaround strategy September 25, 2018 Embattled department store chain Debenhams was hoping to ease investor cynicism after launching its new turnaround strategy yesterday, but it seems City analysts are yet to be impressed. Liberum said this morning that “a good store tour doesn’t change our view that this is a value trap”, reiterating its “sell” rating after the retailer [...]
Theatre promoter Reach4entertainment revenues drop in first half after difficult 2017 September 25, 2018 Investors were not giving theatre communications group Reach4entertainment a standing ovation this morning as shares dropped after it reported declining revenues. Its share price lost 1.75 per cent in early trading after it said revenues were on the decline after a difficult 2017. The figures Revenue slipped from £41.9m the same time last year to £36m for [...]
Irn-Bru boss delivers the fizz as profits grow despite ‘volatile’ business climate September 25, 2018 Irn-Bru owner A.G. Barr posted a rise in both pre-tax profits and revenue in the first six months of 2018, fighting off a number of challenges to the soft drinks industry. The FTSE 250 firm reported profits before tax of £18.2m in the first-half of 2018, rising four per cent from the same period [...]
Profit on the cards: Card Factory sees profits rise despite fall in like-for-like sales September 25, 2018 Card Factory hailed a double digit rise in profit today as it was boosted by record sales for Valentine’s Day, Mother’s Day and Father’s Day. Read more: Heatwave hit retail footfall figures in August The figures The high street retailer saw pre-tax profit grow 17.2 per cent year on year to £27.2m for the [...]
Hotel Chocolat leaves a sweet taste as growing profits bolster international expansion efforts September 25, 2018 Luxury chocolatier Hotel Chocolat signalled its plans to ramp up international expansion today after reporting a 13 per cent rise in annual profits. Pre-tax profit for the 12 months to the start of July rose to £12.7m, jumping from £11.2m in the same period the year before. The rise in profits was largely driven [...]
EU regulator sets October deadline to rule on Sony’s EMI takeover September 25, 2018 Sony will find out by 26 October if its $2.3bn (£1.8bn) takeover of EMI Music Publishing will win approval from antitrust authorities. The European Commission set the provisional deadline after being formally notified of the deal on Friday. Sony is already a major shareholder in EMI, having bought 30 per cent of the firm [...]
