Warm weather helps shoppers hit the high street at start of Easter bank holiday weekend April 7, 2023 Retail footfall jumped this morning as shoppers hit the high street for the bank holiday weekend, new data reveals. Shopper numbers were up 4.8 per cent on last week as dry weather tempted customers out to the High Street, according to data from MRI Springboard. However, the uptick was lower than expected as shoppers shunned [...]
All eyes on Tesco as UK’s biggest supermarket to say profit down £2.8bn – but what do shareholders want next? April 7, 2023 Tesco is expected to reveal a dip in profits for the past year as the supermarket group grappled with rampant food and drink inflation. The UK’s largest retailer will update investors and analysts over its financial performance for the year to February in an update on Thursday April 13. A consensus of analysts has said [...]
Brits splash cash at the weekend as number of high street shoppers up 6.8 per cent – but it’s STILL below pre-Covid levels April 7, 2023 Weekend shoppers have driven a rise in high street customers, but numbers remain below pre-pandemic levels according to a UK retail group. The total number of shoppers rose by 6.8 per cent in March, according to the latest data from the British Retail Consortium (BRC). Weekends saw a 9.7 per cent rise on the previous [...]
Jaguar Land Rover: Sales surge as chip supply issues ease April 6, 2023 Jaguar Land Rover (JLR) is expecting free cash flow of £800m in the fourth quarter, as sales surged 24 per cent surge boosted by an end to chip and other supply constraints. The Coventry headquartered car manufacturer said that wholesale volumes for the fourth quarter were 94,649 units – excluding its Chery Jaguar Land Rover [...]
Check mate as World Chess valued at £41.7m on London Stock Exchange debut April 6, 2023 World Chess has landed on the London Stock Exchange in a move that has priced the gaming and promotion company at £41.7m. The freshly-listed firm, which organises chess championships in both the US and UK, reaffirmed its strong cash position as it made its debut in the market revealing that half year revenue in 2022 [...]
Topps Tiles share price soars as retailer shrugs off slowdown in DIY demand April 5, 2023 Topps Tiles share price closed up nearly seven per cent today after the retailer posted bumper revenues for the first half of the year. The Leicester-headquartered business reported a 9.5 per cent jump in revenues to £130.5m in the 26-week period ending April 1, with some £9m of the revenue growth related to its acquisition [...]
Another bite out of London: Franco Manca set to go private in bumper deal April 5, 2023 The owner of Franco Manca has been snapped up by a Japanese food franchise company in a £93m deal – the latest in a long line of London-listed firms to be taken private by foreign firms. Fulham Shore, which also owns The Real Greek franchise, announced that it was offloading the business to Toridoll, a [...]
Hilton Foods welcomes ex Co-op chief to replace boss of 30 years as profits nosedive April 5, 2023 Meat packer Hilton Foods has blamed “significant” challenges in its seafood wing for nosediving profits, as it welcomes a former Co-op boss to head up the business. The FTSE 250 firm’s share price was down 1.25 per cent this morning, as it witnessed a steep decline in profits down to £29.6m from £47.4m the previous [...]
Co-op warns cost of living crisis will eat into future profits as food to funeral care firm feels pain of inflation April 5, 2023 The Co-operative Group has warned that ongoing inflation and economic uncertainty is likely to reduce its profits in 2023. The food, insurance and funeral care provider revealed its underlying profit remained flat at £100m for the year while EBITDA was down £15m to £490m compared to £505m in 2021. Group revenue for the year was [...]
The host with the most: Airbnb’s Catherine Powell on surviving the pandemic, disciplined decision making and playing by the rules April 5, 2023 When Catherine Powell made the jump from the magic of Disney to Airbnb in January 2020, she couldn’t have predicted the nightmare of a global pandemic for the travel and tourism industry. But just three months after she joined as head of experiences she was thrown in at the deep end. “The pandemic hit and [...]