The UK’s biggest off-licence group, Conviviality Retail, has said that the cost of listing itself on the stock market saw pre-tax profits plummet from £1.7 million to a £1.1 million loss in the six months to the end of October.In a first half which the company described as a “period...
Pub group and brewery Marston’s has said that it is “encouraged” by its performance in the financial year to date, including good trading over the Christmas and New Year period.Ahead of its AGM today, the group said that profitability is in-line with expectations, with like-for-like sales at its managed and...
A British underwear maker championed by retail expert Mary Portas’ 2012 television programme, Mary's Bottom Line, has gone into administration with the loss of 33 jobs.The administration of Kinky Knickers includes the closure of its 79-year-old factory, in Middleton, Greater Manchester. The company produces a variety of clothing for a...
Shares in Japanese gaming firm Nintendo fell 18% following the warning that it would make an operating loss of 35 billion yen ($335 million; £205 million) for the financial year ending 31st March compared to previous estimates of 100 billion yen profit.The group has suffered in the face of stiff...
Anheuser-Busch InBev is buying back a South Korean brewery which it sold in 2009 to lower its debt.Oriental Brewery was sold to private equity companies KKR and Affinity Equity for $1.8 billion. Now the Belgian-based group, which is the world's largest brewer, is repurchasing it for $5.8 billion under terms...
It has been reported that the treasurer and head of tax at supermarket chain Morrisons was arrested in December on suspicion of insider trading.Paul Coyle was held following a probe by the Financial Conduct Authority (FCA) into his share dealings after he was suspected of buying shares in Ocado before...
Toy maker Character said that it made “solid progress” over the Christmas period, with financial results meeting expectations.At the group’s AGM, it said: “What is perhaps more significant for our future growth is that not only have we enjoyed solid Christmas sales but early indications are that post-Christmas sales have...
UK retail sales rose at their fastest rate in over nine years in December, according to official figures.The Office for National Statistics said that retail sales rose 5.3%, beating the figures from the British Retail Consortium, which reported annual growth of just 1.8%. The disparity is due to the ONS taking...
Games group Nintendo has said that profits will miss targets after its Wii U console struggled to achieve expected sales levels. The company said that it now anticipates an operating loss of 35 billion yen (£205 million) for the financial year, down from initial expectations of 100 billion yen profit."In...
Sports Direct has sold its stake in Debenhams - which it acquired on Monday - in return for a pledge to purchase shares in the future which could leave it with 6.6% of the department store.The agreement, called a “put option”, means Sports Direct will purchase 6.6% of Debenhams once...
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