West End landlords Shaftesbury and Capco push ahead with £3.5bn merger June 16, 2022 West End landlords Shaftesbury and Capital & Counties Properties (Capco) have agreed to push ahead with a £3.5bn merger, which will see much of London’s beloved theatre district fall under one wing. The merger, which had raised the eyebrows of one investor, will see shareholders receive 3.35 new Capco shares for each Shaftesbury share. Combining [...]
Asos warns profit will be hit as shoppers return more clothes amid cost of living crunch June 16, 2022 Asos has warned it is expecting lower profit this year after an increase in customers returning clothes due to the pressures of higher living costs. Asos lowered forecasts for the year, with sales anticipated to be in the range of four per cent and seven per cent, which it put down to “market volatility and [...]
Taco Bell ‘on fire’ as Mexican fast-food chain gears up for 100th UK site June 16, 2022 “We’re on fire” is how Taco Bell International’s president Julie Felss Masino described the Mexican fast food chain’s rollout to CityA.M. After launching 50 sites in the UK over the past decade, the US-based firm has expanded by another extra 50 sites in just the past 18 months. The chain, a subsidiary of Pizza Hut [...]
Trading standards seize thousands of counterfeit chocolate bars from Oxford St candy shops June 15, 2022 More than £100,000 worth of counterfeit or illegal chocolate bars and vapes were seized from US candy shops on Oxford Street yesterday. Trading standards seized a huge haul of dodgy goods yesterday, including 2246 counterfeit Wonka Bars, with a raid worth £22,000 from one shop alone. Council officials are endeavouring to crack down on the [...]
Bloomsbury posts record results as pandemic reading surge holds momentum June 15, 2022 Publishing group Bloomsbury posted record results today as a pandemic-induced surge in reading continued, pushing profits to £26.7m.
H&M beats expectations with sales boost amid warnings of rivals snapping up market share June 15, 2022 H&M has posted a sales boost larger than anticipated for the three month spring period, echoing figures from rival Zara last year. The Swedish fashion giant revealed net sales were up 17% year-on-year, or 12% measured in local currencies, at 54.5bn Swedish crowns (£4.36bn), According to the Reuters news agency, analysts polled by Refinitiv had [...]
Motorpoint warns car sales likely to dip as households tighten budgets this year June 15, 2022 Online car retailer Motorpoint has warned that inflationary pressures will mean a drop in consumers buying used cars this year while supply chain disruption will continue to bite. The London-listed company said consumers were under “increasing pressure” to cut back on discretionary spending, with inflation at a 40-year high. “This position has worsened since the [...]
Covid recovery: WHSmith airport shops exceed pre-pandemic revenue levels June 15, 2022 High street staple WHSmith is anticipating its full year outturn to hit the higher end of analysts’ expectations after its travel division has surpassed pre-pandemic revenue levels. In a trading update, the stationery seller said group revenue in the 15 weeks to 11 June was ahead of 2019 levels, sitting at 107 per cent. In [...]
Apple knocks Amazon off the top spot to become world’s most valuable brand June 15, 2022 Tech giant Apple has pushed Amazon off the top spot to be the most valuable global brand, ranking higher than Google. Apple is set to become the first trillion-dollar brand, with a brand value of $947.1bn with plans to enter into the Buy Now Pay Later arena. Google shot up the rankings to second place, [...]
Ladbrokes owner Entain snaps up Dutch rival BetCity for up to €850m June 14, 2022 LADBROKES owner Entain snapped up Dutch online sports betting operator Betcity this morning for as much as €850m (£729m) as the betting giant continues its grand push into Europe. Entain said it would acquire the entire share capital of Betcity from Sports Entertainment Media BV for an initial consideration of €300m (£257m) and deferred contingent [...]
