New Look confirms China exit plans October 18, 2018 Fashion chain New Look confirmed today that it was planning on pulling the plug on its operation in China. The company said it has been gradually reducing its number of stores and now intends to close its remaining 120 stores in the country by the end of December 2018. Its Shanghai head office will close [...]
FTSE 100 bookie GVC places all bets on Europe in quarterly sales boost October 18, 2018 Sales at sports betting firm GVC were boosted in the third quarter as customers turned to online outfits in the midst of the football World Cup, but Brits themselves were not so convinced. GVC, which owns brands such as Gala, Ladbrokes and Coral, revealed today in a trading update for the three months to 30 September that [...]
Domino’s Pizza trims profit guidance despite UK sales growing in summer heatwave October 18, 2018 Domino's Pizza sales grew by six per cent year-on-year across the UK and Ireland this summer despite the hot weather, it revealed today, but the fast food brand also cut back its full year forecast for pre-tax profits. Online sales were up by 11.4 per cent – comprising 78 per cent of total sales in the period [...]
Hamleys replaces finance chief with House of Fraser executive after disappointing results October 17, 2018 Hamleys’ finance chief will be replaced by a former House of Fraser executive after the toymaker posted a massive drop in profits last week. Alex Jablonowski will step down with immediate effect according to an internal memo seen by Morning Wire He will be replaced by a former House of Fraser executive, Yong Shen, who [...]
Morrisons finance boss rewarded with promotion in wake of turnaround plan October 17, 2018 The finance chief of Morrisons – who has helped steer the once-embattled supermarket group into steady growth – bolstered his role today after taking on new responsibilities at the retailer. Trevor Strain is taking on extra duties as commercial director in a promotion that sees him strengthen his position underneath boss David Potts. Having led [...]
Apple taps US design tech Ember to track caffeine intake as it launches in the UK October 17, 2018 Design tech firm Ember has launched with Apple to monitor caffeine consumption inside the Health app using its smart mug, as the company arrives in the UK as part of its international expansion drive. Ember, the maker of a ceramic mug which uses heat control technology to keep drinks at a desired temperature, will now appear as [...]
Shares in Asos soar on news of boosted profits and revenue October 17, 2018 Shares in online fashion giant Asos soared 15 per cent this morning as it revealed profits were up 28 per cent and sales grew by 26 per cent during a "record year" of investment. Revenue at the retailer was £2.4bn in the year to August 2018, up from £1.9bn in the previous year, while profit before tax grew from [...]
Asda and Sainsbury’s mega merger could hit Aldi and Lidl’s trollies October 17, 2018 Britain’s store wars are intensifying by the day but the force is still strong with German discounters Aldi and Lidl. The price-cutters continued to steal market share from the Big Four supermarkets in the 12 weeks to 7 October, figures from the closely-watched Kantar Worldpanel report showed yesterday. Aldi’s sales growth, its fastest since January [...]
Customers stay sweet on Cadbury’s despite low-tax owner October 17, 2018 Last week, several news outlets carried the news that Mondelez International – owners of chocolatier Cadbury – paid no corporation tax in 2017, though the company made profits of £185m. Mondelez’s subsidiaries were reported to have paid a combined total of £5.9m to HMRC. The news drew opprobrium from figures such as shadow chancellor, John [...]