Pret A Manger mulls expanding into coffee vending machines in move to diversify July 29, 2021 Pret A Manger is set to expand into coffee vending machines. The sandwich chain is joining the trend, according to the Financial Times, to widen its product offering through automated dispensers as the sector suffers from the drop in commuters and staff shortages. Earlier this month, the company’s application to trademark the name “Pret Express” [...]
Exclusive: HMV’s new owner on where he wants to take his High Street stores July 29, 2021 Music and entertainment retailer HMV confirmed last week plans to open 10 new stores, including a flagship London site. Following its decline into administration two years ago its Oxford Street store – along with many others – were closed. However, new owner Doug Putman, a Canadian music retail executive, bought the struggling business and believes [...]
Pets at Home keeps lockdown puppy boom momentum and hoists revenue July 29, 2021 Pets at Home has kept up its pandemic sales momentum in its first-quarter following last year’s lockdown puppy boom, with revenue up 25.7 per cent. The pet retailer group’s total revenue lifted to £377m in the weeks to 15 July, with 29.4 per cent growth on the same period the year before Covid-19. The group [...]
Guinness owner Diageo sales jump as it toasts reopening July 29, 2021 Spirits group Diageo has beaten expectations for full-year sales as it gears up the reopening of bars and nightclubs across Europe. The booze business, which owns brands such as Guinness, Johnnie Walker and Smirnoff, reported net sales of £12.7bn in the year to the end of June, up 8.3 per cent on the previous year. [...]
Lookers shares drive higher as car dealer upgrades profit guidance July 29, 2021 Shares in car dealership chain Lookers jumped eight per cent this morning after the company told investors it was expecting a higher full year profit. Lookers said in a first half trading update that underlying profit before tax in six months to 30 June is now expected to be approximately £50m, compared to a £36.1m [...]
Boots, boost: Doc Martens profits up with stores reopening July 29, 2021 Dr. Martens saw a strong first quarter with a significant increase in revenue, even compared to pre-pandemic levels, due to the reopening of stores and continued digital growth. The British bootmaker a revenue of £147.3m for the three months to June 30, a 52 percent increase compared to the same period last year and 31 [...]
McDonald’s: Global sales and profit surge past Wall St targets as restaurants reopen July 28, 2021 Global sales and profit for McDonald’s surged past Wall Street targets today as restaurants reopened despite staffing shortages and consumers lapped up a wildly popular celebrity meal inspired by South Korean pop band BTS. Watch the full report.
One in three retail sales: Shoppers to spend record £120bn online this year July 28, 2021 Following a surge in online sales in 2020 thanks to Covid-19 and three strict lockdowns, UK shoppers are expected to further increase their spending as new data forecasts £120.5bn in online purchases this year alone. Online sales in the UK saw an increase of 46.5 per cent in 2020, with British consumers spending £110.6bn online [...]
Morrisons: Singapore’s wealth fund GIC joins Fortress’ £6.3bn takeover deal July 28, 2021 In an unexpected turn of events, Singapore’s sovereign wealth fund joined this morning forces with the private equity-led consortium seeking to buy Morrisons in £6.3bn deal. Bosses at the supermarket giant agreed the takeover move, led by institutional investor Fortress, earlier this month. However, last night, Morrison’s largest shareholder, Silchester International, said it will not [...]
Music Magpie posts rise in profit after London IPO July 28, 2021 Tech resale site Music Magpie has posted a rise in revenue and profit in its first interim results since floating on the London Stock Exchange earlier this year. The online retailer, which allows consumers to exchange old devices such as phones and game consoles for cash, reported adjusted pre-tax profit of £4m in the six [...]
