Hot weather helps pubs and restaurants post modest monthly sales growth August 12, 2019 British pubs and restaurant groups enjoyed increased sales in July, as eateries showed signs of recovering from poor trading last summer. Restaurant groups posted a 3.8 per cent increase in like-for-like sales compared to last July, when hot weather and the football World Cup took their toll on business. Read more: Restaurants eat into retailers’ [...]
Physical entertainment sales slump amid shift to streaming August 12, 2019 The physical entertainment market declined by almost a fifth over the last quarter, as the growing popularity of streaming services continues to impact traditional formats. Sales of CDs, DVDs and video games dropped 19 per cent in the 12 weeks to the end of June, as a reduction in shopper numbers was compounded by a [...]
Cathay Pacific ‘sacks staff involved in Hong Kong protests’ after regulator pressure August 11, 2019 Hong Kong’s flag carrier airline Cathay Pacific has reportedly sacked two airport employees and suspended a pilot in relation to ongoing anti-government protests in the city. The operator took the decision after telling staff on Saturday it would bar any “overly radical” employees from crewing flights to the mainland and said it had removed a [...]
Squashed: Britvic looks to cut final salary pensions August 11, 2019 Drinks producer Britvic is planning to slash the money it pays out to 6,000 members of its final salary pension scheme. The FTSE 250 firm, which produces Robinsons soft drinks, is looking for court approval to stop measuring inflation according to the retail prices index (RPI), and instead switch to the consumer prices index (CPI). [...]
Office set to close up to half its 100 UK stores August 9, 2019 Shoe retailer Office is planning to close up to half of UK stores at it reckons with the decline of business on the high street. The footwear chain is working on plans to close dozens of its 100 stores as their leases expire during the next few years, according to a report by Sky News. [...]
UK travel company On The Beach share price slumps after profit warning August 9, 2019 Shares in UK travel company On The Beach have tumbled by over 16 per cent this morning after it warned its profits this year will be lower than expected. It said the tumbling pound and Brexit uncertainty are hurting its business model. Read more: Thomas Cook: How did it end up like this? As a [...]
Betting cap and US expansion costs hurt William Hill August 9, 2019 William Hill has posted a pre-tax loss for the first half of the year, as the introduction of a regulatory cap on fixed-odds betting terminals and the cost of expanding in the US took a toll. The figures The gambling group reported a pre-tax loss of £63.5m for the first half. Net revenue was up [...]
Soaring temperatures fail to heat up July high street sales August 9, 2019 Soaring temperatures failed to lift high street sales last month but benefited online stores as consumers turned to fast fashion for their heat wave wardrobes. In-store like-for-like sales only increased 0.1 per cent in July as shoppers sheltered from the heat, upping the pressure on retailers as the third quarter continues. Read more: Restaurants eat [...]
Cineworld sets hopes on The Lion King as first half revenue drops August 8, 2019 Cineworld has posted a sharp drop in revenue for the first half, which it blamed on the unfavourable timings of major film releases. The cinema chain reported revenue of $2.2bn (£1.8bn) in the six months to the end of June, down 11 per cent on the same period last year. Read more: Cineworld maintains guidance [...]
Adidas pledges to fix supply issues after missing sales forecast August 8, 2019 Sportswear giant Adidas promised to fix supply shortages in North America it missed sales and profit expectations in the second quarter. Sales were up four per cent to €5.51bn, below average forecasts of €5.54bn and operating profit rose nine per cent to €643m but below expectations of €651m. Read more: Adidas hikes profit forecast In [...]