Oliver Bonas: Boss says Brexit ‘teething problems’ holding back Irish expansion July 17, 2023 The founder of homeware store Oliver Bonas has complained of the “teething problems” related to Brexit, which is making it difficult to grow his brand in Ireland. Olly Tress told The Times that the firm’s expansion plans in the country are “oven ready,” but the fallout from Brexit has made it “hard and expensive to [...]
Tortilla Mexican Grill: Revenues surge by over a fifth after expansion July 17, 2023 Tortilla Mexican Grill raked in revenues of £32.7m during the first leg of the year, up 22 per cent compared to the same period last year, off the back of a string of new site openings. The fast-casual restaurant chain was bolstered by new openings and growing demand, saying like for like revenue also grew [...]
Sofa so good! DFS reaches record market share as it navigates cost of living crisis July 17, 2023 DFS recorded a four per cent decline in gross sales compared to last year as the sofa giant warns of “significantly worse” market activity during the cost of living crisis. The news comes as earlier this year DFS downgraded its profit expectations to between £30m and £35m, slashing it by nearly half on the £60.3m [...]
Entain: Ladbrokes owner snaps up US analytics firm for £81m as it continues on deal spree July 17, 2023 Ladbrokes owner Entain has snapped up a US sports pricing and analytics firm for £81m, as it continues on its recent acquisition spree. The betting giant said that on top of the millions it’s splashed on Angstrom Sports, it will also pay contingent payments over the next three years – meaning future payments of £122m are promised to the seller upon [...]
Nearly half of tenants struggle to pay rent with millions now facing ‘financial vulnerability’ July 14, 2023 Nearly half of tenants are struggling to pay their rent, with millions now spending more of their disposable income on renting costs than homeowners. As the cost of living crisis has led many landlords to up the costs of rent, some 21 per cent of tenants report spending a higher proportion of their disposable income [...]
Nokia slashes guidance as sales hit by customers cutting back July 14, 2023 Nokia has slashed its guidance for the rest of the year with net sales now expected to be between £19.84bn -£21bn (€23.2bn- €24.6bn) as the mobile phone maker feels the impact of a slowdown in consumer spending. The telecommunications giant said that it was also lowering its operating margin range outlook – the percentage of [...]
Burberry: Designer raincoats remain must-have despite inflation as revenues up 17 per cent July 14, 2023 Designer Burberry reported revenues of £589m during the first quarter of the year, a 17 per cent lift compared to the same period last year, as the luxury brand was boosted by demand for its rainproof trench coats. The British designer, best known for its tartan bags and scarfs, said outerwear comparable store sales were [...]
‘They nailed it!’: Designers of Exchange Square by Liverpool Street Station awarded for ‘transforming’ area July 13, 2023 A new park located in Liverpool Street has won an architectural award for its efforts injecting fresh greenery and leisure space into the busy Square Mile. Exchange Square, which is situated at the back of Liverpool Street, was awarded ‘Building of the Year’ by the Worshipful Company of Chartered Architects’ (WCCA) – with the masterminds [...]
Cineworld names Mexican cinema pro as new chief as it steams ahead with plans to exit bankruptcy July 13, 2023 Troubled cinema chain Cineworld has appointed the former president of Mexican cinema chain Cinépolis Americas as its new chief executive as it steams ahead with plans to emerge from bankruptcy. Eduardo Acuna will join newly appointed chairman Eric Foss to work together under the newly incorporated parent company set up by the group’s lenders (‘Newco’), [...]
Uniqlo owner reports record quarterly profit bolstered by Chinese demand July 13, 2023 Fast Retailing, the owner of Japanese clothing brand Uniqlo, reported a 35 per cent increase in quarterly profit today, and raised its annual profit outlook as it continues to be boosted by demand in China. Fast Retailing’s operating profit in the three months to May surged to 110.3 billion yen. Revenue for the quarter came [...]
