Storage firm Safestore hails ‘excellent’ UK trading February 16, 2021 Safestore, the self-storage firm, said full-year earnings are likely to hit the top end of expectations following strong trading in the first quarter, driven by an “excellent” UK result. Group revenue was up 9.8 per cent and like-for-like sales were up 6.6 per cent, with a 8.3 per cent surge in UK sales. Occupancy increased [...]
Deliveroo targets 8 March for bumper IPO kick-off – report February 15, 2021 Deliveroo could kick off proceedings for its highly anticipated London listing as early as next month, Sky News today reported. The food delivery firm is said to be mulling beginning the float process on 8 March – a little over three weeks time. But insiders told Sky that the date was not yet set in [...]
Five charts that show the impact of Covid-19 on the tourism industry February 15, 2021 The travel and tourism industry has been one of the sectors hit hardest by the pandemic, with lockdowns and travel restrictions all but shutting business at times. Today the Office of National Statistics released its latest analysis of the impact of Covid-19 on the industry, and it doesn’t make for pretty reading. In 2018 the [...]
Why lockdown winners are not vaccine losers February 15, 2021 | City Talk The past year has brought significant changes to all our lives and sped up the growth of a number of consumer and leisure trends. Online shopping is an obvious example and the same is true for some of the other “lockdown winners”: namely computer games and cook-at-home meal kits. Like online shopping, we think these [...]
Russian budget retailer Fix Price targets London listing February 15, 2021 Russian budget retailer Fix Price this morning announced plans to launch a London listing. The company, which is the largest value retailer in Russia, said the potential initial public offering on the London Stock Exchange would allow it to pursue growth and international expansion. Fix Price, which launched in 2007, has more than 4,200 stores [...]
New Ocado finance chief to take helm next month February 15, 2021 British online grocer Ocado said on Monday that its new chief financial officer Stephen Daintith will start his role on 22 March. Ocado had announced in August that Daintith, the current finance chief of Rolls-Royce, would be joining the group. Daintith has previously held senior roles at Daily Mail and General Trust, Dow Jones and [...]
Mitchells & Butlers seeks £350m cash injection as major shareholders take control February 15, 2021 Major shareholders in Mitchells & Butlers (M&B), the owner of All Bar One and Toby Carvery, have taken control of the pub group as it seeks to raise £350m to keep it afloat. The firm said this morning that it intends to raise £350m through an underwritten fully preemptive open offer to address its “significant [...]
Court papers detail Grant Thornton’s alleged errors in Patisserie Valerie audits February 14, 2021 FRP Advisory has reportedly filed legal documents detailing Grant Thornton’s alleged errors in its auditing of Patisserie Valerie after launching a £225m court claim against the professional services firm. FRP Advisory, liquidator to the cafe chain, said the auditor’s negligence meant Patisserie Valerie bosses were unaware the firm had run out of funds. It alleges [...]
Made.com considers public listing amid pandemic boom February 12, 2021 Online retailer Made.com is said to be mulling an IPO after a bumper year of sales amid the pandemic. The furniture specialist is in talks with banks about its options, which could include a public listing valuing the company at more than £500m, according to Sky News. Morning Wire understands Made.com has not yet appointed [...]
Exclusive: Online retail sales record five years growth in 12 months due to pandemic February 12, 2021 Online retail sales recorded five years of growth in just 12 months as the coronavirus pandemic accelerated the shift to digital shopping, the latest research showed. E-commerce sales accounted for 19 per cent of retail spending in 2019 compared to 28 per cent 2020 after restrictions and lockdowns forced consumer spending online and away from [...]