Greene King revenues top £2bn as pub chain hopes inflation fears will be drowned out by a boozy Coronation May 2, 2023 Greene King said revenues continued to soar however the chief executive of the group warned that inflation and the cost of living crisis would prove a “tough backdrop” for the hospitality sector. The pub operator, which has over 2,000 sites across the UK, reported a revenue hike of 62.2 per cent for the 52 weeks [...]
Coffee beans and ready meals send food inflation soaring yet again – and peak is yet to come May 2, 2023 Food inflation reached new highs in April soaring 15.7 per cent, according to new data, with the cost of convenience food such as ready meals and coffee beans increasing due to supply chain woes. While shop price inflation fell slightly by one per cent in the month to 8.8 per cent, food prices remained at [...]
Coronation: Sixty-two million pints to be poured at UK pubs, but City might miss out May 2, 2023 Pubs across the UK are bracing for an influx of visitors to celebrate the coronation of King Charles III this week, with some trade groups suggesting the sector could see a multi-million pound boost from increased sales. UK pubs will see a £120 million boost as people flock to pubs during the bank holiday weekend, [...]
UK retail giant set to ditch central London office space amid job losses May 1, 2023 John Lewis is looking to cut its office space by over 50 per cent after the company seeks to drastically cut costs benefiting from a loose hybrid working approach. The John Lewis Partnership, which also owns Waitrose, first announced its plans to move offices last year, waiting until the lease of its current Victoria HQ [...]
Heineken: Beer giant shows love for local pubs with £40m injection May 1, 2023 Heineken will invest £40m into 570 pubs it owns within its hospitality business, as the beer giant looks to show support for local boozers amidst the cost of living criss. Almost a quarter of businesses within its Star Bar & Pub group will receive the boost – with 100 of these scheduled for revamps averaging [...]
Coronation: How much will it be worth to the West End? April 30, 2023 Retail and hospitality businesses across London’s West-End are gearing up for a £50m boost during the Coronation weekend, as a flock of tourists will help temporarily relieve inflationary and cost of living woes. According to figures from New West End Company, which represents 600 retail, restaurant, hotel and property owners spanning from Bond Street to [...]
Gymshark chief brands UK ‘a great place to do business’ as firm eyes expansion April 28, 2023 Despite much criticism about the UK’s high level of corporation tax and struggling capital markets, the boss of sportswear brand Gymshark said today the Britain is a “great place to do business.” Asked by LBC’s Nick Ferrari, how easy is it to start and to grow a business in the UK, chief executive Ben Francis [...]
HMV to reopen flagship London Oxford Street store after ‘dramatic turnaround’ under new owner April 28, 2023 Music and entertainment giant HMV will reopen its flagship London store on Oxford Street after four years, in wake of a “dramatic turnaround” under new ownership. The move comes after the company fell into administration in 2019, shuttering its store on the high street, partially due to the increase in streaming, which dented physical sales [...]
London: Shot in the arm for West End as Uniqlo UK boss says Covent Garden is the place to be April 27, 2023 Fashion chain Uniqlo said it was committed to London after opening its second store in six months. Alessandro Dudech, chief operating officer at Uniqlo UK said the company regarded it as honour to be opening a store in Covent Garden. He said it was an area of London with “cultural and retail heritage”. He added: [...]
Sainsbury’s profits takes inflation and cost of living hit as supermarket faces stark choice April 27, 2023 In its full year results for the year ending 4 March 2023, Sainsbury’s pre tax profits fell from £854m to £327m as the retailer battled to keep its pole position as one of the UK’s largest supermarkets. The supermarket giant said it was impacted by non-cash asset impairments, driven by a higher discount rate, and [...]
