Burberry shares fall as spread of coronavirus spooks investors February 24, 2020 Shares in luxury goods giant Burberry have fallen a further six per cent this morning as the spread of coronavirus in Europe spooked investors. The British brand has seen its share price drop in recent weeks as the virus took hold in China, one of Burberry’s major markets. Earlier this month Burberry was forced to close [...]
New product launches boost Finsbury Food sales February 24, 2020 Cake manufacturer Finsbury Food reported a jump in sales in its interim results driven by new product launches as the company targets growing consumer trends. The figures Group revenue increased 4.7 per cent to £159.4m, with UK bakery sales jumping 5.8 per cent. Profit before tax was up 17.9 per cent to £8.8m in the [...]
Coronavirus: Primark owner ABF warns of long-term supply issues February 24, 2020 Primark’s owner today said it was considering ramping up production from suppliers outside of China in a bid to avoid a hit from the coronavirus outbreak. Associated British Foods (ABF) expects Primark will drive higher operating profit and sales for the six months to the end of February compared to the same period a year [...]
Coronavirus: Consumers prepare to cancel holidays over virus fears February 24, 2020 A third of British consumers are prepared to cancel holiday plans if the coronavirus persists. New research from Retail Economics shows that 31 per cent of consumers are prepared to cancel travel plans. It puts £17.2bn of holiday spending on hold as people await clarity over the virus. A disparity in the perception over the [...]
FSB calls for small business exemptions to immigration fees February 24, 2020 The government’s new immigration rules can work for small businesses if hiring costs are kept down and the system is easy to navigate, according to a new report. The new points-based immigration system, to be implemented from 2021, will require EU immigration applicants to speak English, have a job offer in the UK and to [...]
Hedge funds bet against Ladbrokes owner GVC February 23, 2020 Hedge fund tycoon Ken Griffin is building a bet against Ladbrokes owner GVC as it battles a potential increase in regulation. Griffin, the founder of hedge fund Citadel, has taken an £80m bet against the bookmaker, as other traders also increased their positions, according to the Sunday Times. It has made GVC the FTSE 250 [...]
Hammerson expected to slash dividend amid high street woes February 23, 2020 Property development firm Hammerson will reportedly slash its dividend and write down the value of its assets in its results this week. Peel Hunt analysts have forecasted that the shopping centre owner will cut its dividend by 30 per cent, according to reports in the Sunday Times. Analysts estimate that the value of Hammerson’s assets, [...]
Waitrose ranked best UK supermarket in annual Which survey February 22, 2020 Waitrose has been ranked as the best supermarket in the UK in an annual satisfaction survey conducted by Which. The chain, which is owned by John Lewis, hit five stars on most categories, but did come joint-last in value for money. Budget supermarkets Aldi and Lidl continue to be ranked highest in terms of value. [...]
Hammerson sells seven retail parks to Orion for £400m February 21, 2020 Hammerson has sold seven retail parks to Orion’s European real estate fund for £400m, the largest sale of its kind in the UK for a decade. The parks are dotted around the country in places such as Didcot, Falkirk, Rugby and Telford. The deal, which is expected to raise proceeds of £395m, takes the total [...]
Hornby eyes £15m raise for ‘solid foundation’ February 21, 2020 Model train maker Hornby is seeking to raise £15m today as it seeks a “solid foundation” to build on with brands like Airfix and Scalextric. It will do that by issuing almost 42m new shares at 36p each, with chief executive Lyndon Davies saying: “The strengthening of our balance sheet provides a solid foundation for [...]
