Naked Wines boss heads for the exit November 21, 2019 Naked Wines surprised the City this morning after revealing the departure of its boss ahead of a major strategic shift in the business. Rowan Gormley is stepping down as chief executive once the disposal of the group’s Majestic brand is complete and the crucial Christmas trading season is over. Read more: Naked Wines sells wine [...]
DEBATE: Has Fever-Tree lost its fizz as growth in the UK slows down? November 21, 2019 Has the fizz gone out of tonic water maker Fever-Tree as growth in its core UK market slows down? Joe Healey, investment research analyst at The Share Centre, says YES. Fever-Tree has had a good run, but investors are likely to be tetchy going forward. The drinks phenomenon has struggled in its main UK market [...]
Ex-De Vere boss Andrew Coppel to be appointed as Arcadia chairman November 20, 2019 Sir Philip Green’s Arcadia Group is preparing to appoint the former boss of the De Vere hotel and leisure group as its new chairman. The appointment of Andrew Coppel, who currently sits on the board of housebuilder MJ Gleeson, is expected to be announced tomorrow, Sky News reported. Read more: Arcadia bolsters senior digital team [...]
UK music industry brings £5bn to economy thanks to boom in live shows November 20, 2019 The UK music industry contributed £5.2bn to the economy last year, boosted by sell-out live performances by hit acts such as Stormzy, Ed Sheeran and Dua Lipa. The live music sector contributed £1.1bn of this sum, up 10 per cent on the previous year, according to figures published today by industry body UK Music. Read [...]
Ex-M&S clothing boss Jill McDonald appointed as Costa CEO November 20, 2019 Costa Coffee has appointed former Halfords and Marks & Spencer executive Jill McDonald as its new chief executive, to replace outgoing boss Dominic Paul next month. The coffee chain, which was sold by Premier Inn owner Whitbread to Coca Cola at the beginning of the year, said Paul will set down on 30 November, with [...]
Tossed owner Zest Food seeks rent cuts in restructuring plan November 20, 2019 Zest Food, the owner of healthy eating brand Tossed, is the latest casual dining chain to seek a company voluntary arrangement (CVA) restructuring plan. The company is asking landlords to agree to a combination of zero rent and rent reduction arrangements as part of the rescue plan. Read more: UK’s top restaurants swing to £93m [...]
B&Q owner Kingfisher’s new CEO blasts ‘disappointing’ like-for-like sales slump November 20, 2019 B&Q owner Kingfisher saw like-for-like sales sink 3.7 per cent over its third quarter, as its new chief executive admitted he has “much to do” to improve the business. Sales sank 3.1 per cent to £2.96bn over the quarter to the end of October, with the UK seeing a one per cent decline in like [...]
All Bar One owner Mitchells & Butlers cheers rise in profit amid food and drink demand November 20, 2019 All Bar One owner Mitchells & Butlers has toasted a rise in full-year profit as rising appetite for its food and drinks offset fears of a slowdown in the casual dining sector. Shares in the firm jumped seven per cent in early morning trading. Read more: UK retail sales unexpectedly fall as economy slows The [...]
Fevertree cuts forecast as slowdown takes fizz out of UK sales November 20, 2019 Drinks supplier Fevertree has cut its full-year revenue forecast amid “challenging comparators” and a slowdown in UK consumer spending in the second half. The mixer specialist cut its revenue expectations to between £266m and £268m for the full-year, representing year-on-year growth of 12 to 13 per cent. Read more: Fevertree shares go flat as poor [...]
Shoppers plan to spend more on high streets this Christmas November 20, 2019 The Christmas trading period could deliver some much-needed festive cheer for retailers after a challenging 12 months as a new research reveals that shoppers plan to spend more this year. Most UK shoppers – 87 per cent – are planning to spend the same or more than last year, while 57 per cent said political [...]
