Ed Sheeran promoter sued by Viagogo September 4, 2018 Ticket reselling site Viagogo has launched legal action against Ed Sheeran's promoter for allegedly ripping off thousands of fans. The company claimed in a statement today that Stuart Galbraith, founder of music promoter Kilimanjaro Live, confiscated authentic tickets bought through Viagogo and forced customers to buy new ones. The first ticket was then not refunded, according to [...]
AccorHotels scoops up Movenpick Hotels September 4, 2018 Ibis and Mercure owner AccorHotels announced today that it has completed its £430m takeover of Movenpick Hotels and Resorts, adding to its collection of recent luxury acquisitions. The French hotel giant paid €482m (£434m) for the 84 hotels which began life as an offshoot of the famous ice cream brand during the 1970s. It will enhance Accor's presence [...]
Pret a Manger unveils £100m sales growth as coffee war heats up September 4, 2018 Sales at Pret a Manger grew by more than £100m in 2017 as the chain expanded globally and opened its 500th shop. Revenue soared by 13.2 per cent to £878.5m, driven by expansion into 58 new stores as well as strong like-for-like growth of 3.2 per cent. Read more: Coca-Cola moves for Costa coffee brand in £4bn [...]
Bricking it: Lego sales and profits fall on weaker dollar September 4, 2018 Lego was impacted by the weaker US dollar in the first half of 2018, reporting lower sales and profits today. The Danish toy company said it was pleased with performance given the challenges of the toy industry, and is now focused on stabilising the business. The figures Global consumer sales grew one per cent in [...]
McColl’s sales still impacted by Palmer & Harvey collapse September 4, 2018 Sales at convenience retailer McColl's have struggled to pick up for another quarter as the company still grapples with the collapse of wholesaler Palmer & Harvey. The figures Total revenue in the 13 weeks to 26 August was up 0.6 per cent, but like-for-like sales slipped 0.9 per cent due to continued supply chain disruption. [...]
Halfords sales speed up as servicing business benefits from drop in car sales September 4, 2018 Halfords Group reported sales growth this morning against a tough backdrop, but profits are still expected to remain flat on last year. The update came ahead of new chief executive Graham Stapleton's strategy update at the end of this month, though analysts do not expect any radical changes at the business. The figures Total revenue in [...]
House of Fraser administrator faces complaint over Sports Direct sale September 3, 2018 House of Fraser's administrator is facing a complaint over its handling of the department store's collapse and sale to Sports Direct. In a letter seen by City A.M., businessman Paul Mckie claimed he was told by Ernst & Young on the morning of the administration that the firm had not been appointed. The official complaint, [...]
Berry Bros & Rudd boss Dan Jago interview: Uncorking Britain’s oldest wine merchant September 3, 2018 The flagship shop of Berry Brothers & Rudd has remained unchanged for over 300 years. Famous customers, from Byron to Churchill, have stepped through the doorway and left St James’s Street behind for a wood-panelled room replete with bottles of top-notch plonk. In the back room, one of the walls has been repurposed after previously [...]
Footasylum share price halved after second profit warning in a year September 3, 2018 Shares in Footasylum have plummeted this morning after the company said it will make a loss in the first half of the year. The sportswear retailer said that squeezed margins and higher investment costs would weigh on earnings for the full year, while revenue is now expected to be below market expectations. Shares fell 47 [...]
