Mountain Warehouse eyes store expansion as profits jump May 31, 2019 Outdoor clothing group Mountain Warehouse is eyeing an expansion on the high street this year after reporting today a double-digit rise in annual pre-tax profits and sales. The retailer, which currently runs 350 stores and employs 3,500 staff, is planning to open a further 50 stores this year, including roughly 20 in the UK, following [...]
Yacht a result: Smooth sailing for luxury manufacturer Princess as it cruises to record results May 31, 2019 Britain’s biggest luxury yacht maker has steamed ahead of its rivals over the last year, enjoying record turnover and profit. Read more: Yacht the hell? Lack of interest sinks London boat show Princess Yachts enjoyed a 24 per cent rise in turnover to £340m and a 178 per cent rise in operating profit to £30m for [...]
Monsoon Accessorize landlords ‘call for stake’ in retailer as CVA approaches May 30, 2019 Four property giants have reportedly offered to support a financial restructuring at troubled fashion retailer Monsoon Accessorize – but only if it gives them an equity stake in the firm. Read more: Retailer Monsoon Accessorize 'plans to close dozens of stores' across UK British Land, Hammerson, M&G Investments and Roubaix Group have teamed up to [...]
Toasting a deal: Bollinger takes stake in wine merchant backed by Michael Spencer May 30, 2019 Champagne house Bollinger has snapped up a minority stake in a UK fine wine merchant backed by City grandee Michael Spencer. Societe Jacques Bollinger (SJB), the family group behind one of France's most prestigious champagne firms, is understood to have acquired a minority stake of up to 10 per cent in BI Wines & Spirits [...]
Premier Foods chairman to step down May 30, 2019 Mr Kipling maker Premier Foods has revealed that its chairman is set to retire from his role this summer less than two years after taking on the job. Keith Hamill, who was appointed chair of the firm in August 2017, has told the board of his decision to retire later this year at the group’s annual [...]
British winemaker Chapel Down grows revenue after record-breaking harvest May 30, 2019 British winemaker Chapel Down boosted revenue last year following a record-breaking harvest. The figures Group sales increased by 10 per cent overall, to £13m in the year to the end of December 2018. Sales of wine and spirits were up 11 per cent to £8.9m and beer and cider sales jumped by 10 per cent [...]
Rolex giant Watches of Switzerland begins London IPO debut with £650m valuation May 30, 2019 The UK’s largest seller of Rolex watches has begun life as a listed firm in the Square Mile today, having priced its shares towards the top end of the range it had targeted. Investors start trading in Watches of Switzerland on the London Stock Exchange today after the firm priced its shares at 270p, valuing [...]
Cash out: Troubled Ladbrokes boss takes a punt on cutting pay in bid to stop investor revolt May 29, 2019 The chief exec of betting firm Ladbrokes is set to forego around £150,000 as he takes a gamble designed to quell shareholder unrest over his pay. Kenny Alexander, boss of Ladbrokes’ owner GVC Holdings, has agreed give up the majority of a recent pay rise from £750,000 to £950,000 after talks with the company’s board, [...]
Gourmet Burger Kitchen sales begin to recover after £4.6bn loss May 29, 2019 Gourmet Burger Kitchen (GBK) has posted a partial recovery in sales since it suffered a record £4.6bn loss last year, when it got the green light for a string of restaurant closures. Read more: Creditors give green light to Gourmet Burger Kitchen closures The restaurant chain’s like-for-like sales fell 9.7 per cent in the first six [...]
M&S looks set to survive FTSE 100 drop amid £600m rights issue May 29, 2019 Marks & Spencer looks set to remain in the FTSE 100 through the skin of its teeth in next week’s reshuffle after launching a £600m rights issue to fund its joint venture with Ocado. City speculation that the department store chain could drop out of the blue-chip index has mounted after it reported a 10 [...]