Upper Crust owner posts elevated sales as passengers face lengthy airport queues July 14, 2022 Upper Crust and Ritazza sites saw quarterly sales elevated as passengers flocked back to railway stations and airports. Travel food operator SSP said on Thursday its revenue had recovered to 87 per cent of 2019 levels for the third quarter, including a benefit from price hikes. It accredited the sales boost to an ongoing recovery [...]
Poundland sales resilient as shoppers more familiar with discount brands versus 2008 July 14, 2022 Poundland’s owner has reiterated its confident outlook, encouraged by the size of the discount market across Europe amid present economic turmoil. In a third quarter trading update, Pepco posted group revenues of €1.2bn, with year-to-date sales hitting €3.5m. The retailer, which also owns the Dealz and Pepco brands in Europe, said Poundland like-for-like sales had [...]
Dr Martens says sales of boots are in line with forecasts despite cost of living crunch July 14, 2022 Dr. Martens has assured shareholders its trading this year is in line with expectations, ahead of its AGM in north London on Thursday. In a trading update on Thursday morning, the boots maker said trading was as expected since the start of this financial year. The retailer acknowledged that ‘the early months of our financial [...]
Just Eat offers restaurants bikes, loans and cashback as they falter amid historic inflation July 14, 2022 Just Eat has unveiled a £1m support package with financial support for its independent restaurant partners as they struggle amid inflationary pressures. Small, independent firms in the UK will be able to access the support package, which includes marketing and financial support – that does not need to be re-paid. Businesses have been struggling in [...]
UKH Hacker Young sanctioned after Laura Ashley audits July 13, 2022 UKH Hacker Young has been “severely reprimanded” and slapped with a £350,000 fine by the accounting watchdog over its audit of Laura Ashley. The Financial Reporting Council has imposed serious sanctions on the firm for its audit of the fashion retailer for the 2018 and 2018 financial years. The retailer, which had 155 UK stores [...]
London-listed Computacenter snaps up Chicago retailer BITS which made £206m in profit last year July 13, 2022 Computacenter confirmed this afternoon the London-listed company has bought Business IT Source (BITS), a US reseller based in Buffalo Grove, Illinois, around 45 minutes away from Chicago. The business has around 100 employees and reported $245m, or roughly £206m in profit last year. Earnings before interest and tax (Ebit) reached $8.9m, or £7.5m, in the [...]
Shares in shipping services giant Clarkson soar after reporting profits of no less than £42m July 13, 2022 Shares in FTSE 250 shipping services company Clarkson soared by 11 per cent today after the business said it had a “strong” opening to the year, and promised shareholders it would beat expectations in 2022. The company expects to report underlying pre-tax profit of no less than £42m in the six months to the end [...]
Topps Tiles refuses to ditch chairman Darren Shapland despite shareholder revolt July 13, 2022 Retailer Topps Tiles said this afternoon it stands by its chairman months after a significant number of shareholder votes were cast against his re-election. The bathroom and kitchen tile retailer said that Darren Shapland is effective in the role. In January only 78 per cent of shareholder votes were cast for him to continue as [...]
Costa Coffee boss swaps frappes for fries with McDonald’s move July 13, 2022 The boss of Costa Coffee will step down to take up a top job at McDonald’s shortly. Jill McDonald, who has headed the high street chain since 2019, will take up the role of executive vice president and president for the brand’s international operated markets team. The move will mark a homecoming for McDonald, who [...]
Loungers sees ‘no shift’ in bargoer spending behaviour despite recession fears July 13, 2022 Bar goers have shown no change in spending behaviour at Loungers and Cosy Club venues, according to boss Nick Collins. While consumer-facing firms have reported declining sales in recent months, Loungers said its recent trading had bucked the trend, with “nothing to suggest a cautious consumer.” “We have looked for it [signs of change], clearly [...]