Wetherspoon to slash prices of drinks on Brexit Day January 20, 2020 Pub chain JD Wetherspoon is planning to celebrate Brexit by slashing the prices of a selection of drinks on 31 January as the UK leaves the EU. The offer will reduce prices of drinks from across Europe, including Estrella Galicia, Beck’s and Peroni, by around 60p. The promotion – which will run until 29 February [...]
Fevertree shares sink 20 per cent as it warns on profit January 20, 2020 Fevertree’s shares plunged today as it warned that “subdued” Christmas trading in the UK would knock 2019 profit lower than last year’s total. The tonic maker now expects revenue growth of 9.7 per cent to £260.5m, compared to 2018’s 40 per cent growth rate. That will see sales miss expectations for 2019, leading Fevertree to [...]
Intu shares fall as it enters talks to raise more money January 20, 2020 Intu today confirmed it will seek to raise equity as it works to patch up its shaky balance sheet after a dreadful 2019 for retailers. The commercial real estate giant today insisted it was making “good progress” on improving its balance sheet, hailing a “busy” Christmas and saying footfall was 0.3 per cent up last [...]
Department store chain Beales falls into administration January 20, 2020 Department store chain Beales has entered administration this morning, putting more than 1,000 jobs at risk. The retailer had been in crisis talks with potential buyers in a bid to stave off a collapse, however the company was unable to secure a deal. Professional services firm KPMG has been appointed as administrator, and the firm’s [...]
Gambling companies used schools data on 28m children January 19, 2020 UK betting companies have gained access to a database containing information on roughly 28m children in a huge breach of sensitive government data. The firms have used the trove of data, which contains names, ages and addresses of children aged 14 and above in schools and colleges across England, Wales and Northern Ireland, to boost [...]
Third of retailers issue profit warnings in ‘bruising’ year for UK high street January 19, 2020 A third of retailers issued a profit warning last year following a “bruising” year for the UK high street. For the second year in a row, a third or more of the FTSE retailer sector warned on lower profits over the course of 2019. The number of profit warnings fell from 36 in 2018 to [...]
Cranswick upgrades profit as African Swine Fever boosts UK exports January 17, 2020 British butchers Cranswick said this morning that its full-year profit will beat expectations after export sales soared due to African Swine Fever. The company said “export sales have continued to be exceptionally strong”, as an outbreak of African Swine Fever in China has seen the demand for British pork rise. “African Swine Fever has created [...]
The Gym Group grows revenue after adding new sites and members January 17, 2020 Budget gym operator The Gym Group saw revenue jump last year after adding 70,000 new members. Total revenue in the year ended 31 December grew 23.6 per cent to £153.1m, up from £123.9m the previous year, as the gym chain opened new venues and persuaded new members to sign up. Total year-end membership numbers were [...]
Online growth offsets betting machine sales slump for Ladbrokes owner GVC January 17, 2020 Ladbrokes owner GVC Holdings this morning said full-year profit will be at the top end of guidance following strong growth in its online business. The betting firm said full-year earnings before tax, interest, depreciation and amortisation is expected to be at the top end of upgraded guidance of £670m to £680m. Online net gaming revenue [...]
Premier Foods boosts sales of festive favourites over Christmas period January 17, 2020 Premier Foods boosted sales over the Christmas period as customers stocked up on traditional festive food such as gravy, stuffing and mince pies. UK sales were up 3.6 per cent in the 13 weeks to 28 December, as Mr Kipling sales grew 10 per cent following marketing investment and new product launches. The sale of [...]
