Pernod Ricard cautions ‘softer’ fourth quarter as China hit by Covid lockdowns April 28, 2022 Absolut vodka maker Pernod Ricard has warned it faces a softer fourth quarter against a backdrop of Covid restrictions in China. The spirits firm’s chief financial officer said it was anticipating “an impact” from Covid restrictions during the fourth quarter. “March was very impacted by the start of Covid restrictions,” Helene de Tissot told the [...]
Whitbread issues stark warning on sector cost inflation April 28, 2022 Premier Inns owner Whitbread has cautioned hospitality sector cost inflation will hit a higher level than anticipated. The hotel chain owner said cost inflation this financial year was anticipated to reach between eight and nine per cent, one per cent more than previously expected. The group said it anticipated to largely offset these higher levels [...]
Sainsbury’s warns of lower profit as grocer anticipates inflationary pressures April 28, 2022 Sainsbury’s has warned of a lower profit for the coming year as the grocer faces uncertainties including high inflation and cost of living pressures on shoppers. Sainsbury’s posted underlying profit before tax of £730m for the 2021/2022 financial year, a 104 per cent boost on the year prior, but warned of challenges down the line. [...]
Unilever sees sales and turnover rise as it hikes prices April 28, 2022 Unilever has enjoyed rising sales and turnover levels in the first few months of the year, as it rewards shareholders with a maintained dividend of €0.42 apiece. The consumer goods giant, behind some of Britain’s most loved products such as Ben & Jerrys, Dove, Helmann’s and Magnum, had its turnover jump by nearly 12 per [...]
Look inside: Coca Cola opens first European flagship store in Covent Garden April 28, 2022 Coca Cola has opened the doors to its first flagship store in Europe today, in a vote of confidence for the West End. After a number of stores in the US, including the beverage titan’s home territory in Atlanta, Coca Cola is testing the waters with a UK experiential destination. The store is set to [...]
New West End Company chief leaves role as chief of business group for down under April 28, 2022 The head of the New West End Company is departing to oversee improvements to Sydney’s Western Harbour shopping district. After six years at the industry body, Jace Tyrell is leaving to head Australia’s first business improvement district (BID), the New Sydney Waterfront Company. NWEC works across 80 streets in the central London heartland, representing 150,000 [...]
Apollo teams up with Mukesh Ambani in bid for Boots April 27, 2022 Buyout giant Apollo has teamed up with India’s second-richest man Mukesh Ambani to launch a bid for Boots, as the race to takeover the chain enters the final stretch.
City Pub Group shares take off after pub chain’s Mosaic acquisition plans April 27, 2022 City Pub Group’s shares have climbed after the pub group said it was eyeing up to 70 sites by the end of next year. The premium pub operator saw shares lift 12 per cent on Wednesday afternoon after its preliminary results revealed trade had all but recovered to pre-pandemic levels. Trading for the last nine [...]
Kellogg’s to battle government’s sugar restrictions in court April 27, 2022 Cerealmaker Kellogg’s is taking the government to court over new legislation that will prohibit some high sugar products being prominently displayed in stores. The food titan argued the government’s formula should factor in the nutritional value of milk, which it says is eaten with cereal in the vast majority of cases. From October, retailers will [...]
Ted Baker: Fashion retailer receives ‘a number’ of bids from suitors as sale hots up April 27, 2022 Ted Baker confirmed it has been the recipient of a number of bids from suitors hoping to snap up the high street fashion retailer. The clothes seller entered into a formal sales process earlier this month, after being wooed several times by US private equity firm Sycamore. It had previously revealed it had been approached [...]
