Watches of Switzerland eyes first £1bn year after pandemic fails to dampen desire for posh watches May 20, 2021 Appetite for posh watches and luxury jewellery has not waned during the pandemic, as Watches of Switzerland reported a group revenue increase of 18 per cent in its 2021 financial year. Luxury watches at the company – the UK’s biggest Rolex retailer – were responsible for £788.4m in revenue, while luxury jewellery pulled in £60.8m. [...]
Games Workshop pays staff £12m share bonus after impressive year May 20, 2021 Staff at Games Workshop will have received a share bonus totalling £12m this year, after lockdown restrictions and subsequent new hobbies helped profits at the games retailer soar. Games Workshop’s staff were paid £10m more in bonuses in 2020/21 than in the previous financial year. Bonuses are paid on an equal basis to each member [...]
App ordering here to stay at Young’s pubs with punters able to buy drinks at the bar from June May 20, 2021 Some of the changes brought about by the Covid-19 pandemic are here to stay at Young’s pubs, including use of the app to order food and drinks to tables. Speaking to Morning Wire this morning, Patrick Dardis, CEO of Young’s, said the app, which the group began developing five years ago and by sheer good [...]
Boohoo to link £150m bonus pot for directors to supply chain improvements May 19, 2021 Boohoo plans to link multimillion-pound bonuses for its directors with improvements in its supply chain following allegations of poor working conditions and corporate governance. The online retailer faced criticism from investors last year over its long-term incentive scheme, which could see founders and directors paid up to £150m. Boohoo has said it will now link [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 19, 2021 Morning Wire‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email [email protected] to be featured. Ex Co-op CEO joins Boomin’s board Property site Boomin has bagged itself a retail veteran this week, who is set to join the board as a non-executive director at its next [...]
Creativity in the kitchen drives ‘outstanding’ year at Premier Foods May 19, 2021 Creativity in the kitchen drives 'outstanding' year at Premier Foods
Mitchells & Butlers suffers £200m loss as lockdown restrictions strangle pub group May 19, 2021 Sales at Mitchells & Butlers tumbled 79 per cent in the six months to 10 April, as coronavirus-led restrictions decimated operations at the pub group. The group, which owns Toby Carvery and All Bar One, recorded a loss before tax of £200m in the first half of its financial year. Revenue at the business fell [...]
Marston’s slumps to £105.5m pre-tax loss as restrictions hit business May 19, 2021 Marston’s fell to a £105.5m pre-tax loss in the 26 weeks to April 3, as coronavirus-led lockdown restrictions over the winter hit the pub group hard. Revenues during the six month period to April 3 dropped £343.3m to just £55.1m, although the balance sheet was boosted by £291 million from the sale of Marston’s brewing [...]
Dunelm sales better than expected thanks to lockdown living space upgrades May 19, 2021 Homeware’s retailer Dunelm enjoyed a better-than-expected sales lift over the tail end of the UK’s third national lockdown, the group said today, despite only being able to trade for five weeks after the 12 April easing of restrictions. Customers were able to flock to stores in mid-April after a winter lockdown, despite the reduced trading [...]
Maida Vale pub that was rebuilt brick by brick after illegal demolition is back in business May 18, 2021 A pub that was rebuilt brick by brick after being demolished by developers has finally welcomed its first customers inside. The Carlton Tavern in Maida Vale, north London, was pulled down by developers CTLX in 2015. But they were ordered to rebuild it exactly as it had stood by Westminster City Council because they had [...]