Fans queue all night for release of Ikea rug designed by Louis Vuitton’s Virgil Abloh May 2, 2019 Queues stretched around the block this morning as fans of a major international company known for its slim design lined up to get their hands on its most recent product. The shop? Ikea. The item? A rug. The new carpet is a collaboration with Off White, run by Louis Vuitton men’s artistic director Virgil Abloh. [...]
Here’s why Boohoo shares are climbing higher May 2, 2019 | City Talk By Graeme Evans from interactive investor. Stock markets are struggling on boohoo's results day, but the retailer is defying the gloom. Fast fashion is back in vogue on the London market, with well-received results from Boohoo adding to euphoria over a spectacular 2019 for shares in AIM-listed rival ASOS (LSE:ASC). Their recent turnaround follows an [...]
Paddy Power Betfair share price falls as online sales slump May 2, 2019 Paddy Power Betfair reported a 17 per cent increase in revenue in the first quarter, driven by growth in Australia and the US despite a slump in online revenue. Shares in the betting company fell 4.7 per cent to 6,450p this morning, however, as online revenue declined one per cent, excluding gaming platform Adjarabet, due to [...]
Former Hbos chief executive set to take top job at The Restaurant Group May 1, 2019 The former chief executive of Hbos is set to be appointed chief executive at Wagamama-owner The Restaurant Group. Sky News reported that Andy Hornby had been given the job with his role expected to be announced as soon as tomorrow. Read more: The Restaurant Group profits fall as like-for-like sales slip Hornby has reportedly resigned [...]
Is it time for Mike Coupe to check out as Sainsbury’s boss? May 1, 2019 Mike Coupe was met with rapturous applause from his fellow directors when he stepped up to the microphone this morning, as he hailed the coming of an era in Sainsbury’s history that would see it thrive having merged with long-time rival, Asda. Coupe spoke boldly about price cuts and cost savings, and finished with a [...]
Marks & Spencer provokes Twitter storm with move to make Percy Pig sweets vegetarian-friendly May 1, 2019 Marks & Spencer customers have reacted with outrage to the British retailer's decision to remove gelatine from the longstanding recipe for its Percy Pig sweets. Although now suitable for vegetarians, the new recipe – introduced this month – has provoked a Twitter storm of anger, with the supermarket being condemned for altering the sweets, which it has sold since [...]
Trivago profits rise amid revamp of advertising spend May 1, 2019 Hotel booking site Trivago has posted a sharp increase in profitability in its first-quarter results amid a revamp of its marketing strategy. Read more: Two-thirds of hotel websites leak guests’ personal data The figures Trivago posted net profit of €7.8m (£6.7m) in the three months to the end of March, compared to a net loss [...]
Sainsbury’s profit plummets after spending £46m on failed Asda merger May 1, 2019 Sainsbury’s profits tumbled 42 per cent last year as the supermarket giant spent £46m on its failed merger with Asda, it revealed this morning. Read more: Watchdog kills Sainsbury's-Asda merger: What went wrong? The supermarket suffered a body blow last week when the Competition and Markets Authority (CMA) banned the proposed merger “in its entirety”, a [...]
High street giant Next credits warm Easter weather as sales blast past expectations May 1, 2019 High street bellwether Next welcomed robust sales growth in its latest quarter as revenue beat its own estimates. Read more: Next says 'no evidence' Brexit has hurt sales as profits dip The retailer credited “unusually warm weather” over Easter for the 4.5 per cent year-on-year rise to sales of around £10m. While high street stores [...]
China expansion and UK troubles take a slice out of earnings at Pizza Express April 30, 2019 Pizza Express reported a slump in underlying earnings this morning, as expansion in China and tough trading conditions in the UK hit the group. Read more: SSE talks to Talktalk over £1bn retail unit after scrapping Npower deal In the latest sign of distress within the casual dining sector, Pizza Express posted a 15.3 per [...]