Company News Reporter, London
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Sep 22, 2015

Pub group M&B ditches CEO, warns on profit

LONDON (Reuters) – Pubs group Mitchells & Butlers (MAB.L: Quote, Profile, Research) on Tuesday said it had replaced its chief executive Alistair Darby with insider Phil Urban as it warned weak trading would push full-year profit to the bottom end of market forecasts.

The group, whose pubs include Harvester, Toby Carvery and All Bar One, said Urban, who joined M&B as Chief Operating Officer in January, would take control on Sept. 27 with Darby’s three-year tenure ending the day before.

Sep 22, 2015

British pub group M&B ditches CEO, warns on profit

LONDON, Sept 22 (Reuters) – British pubs group Mitchells &
Butlers on Tuesday said it had replaced its chief
executive Alistair Darby with insider Phil Urban as it warned
weak trading would push full-year profit to the bottom end of
market forecasts.

The group, whose pubs include Harvester, Toby Carvery and
All Bar One, said Urban, who joined M&B as Chief Operating
Officer in January, would take control on Sept. 27 with Darby’s
three-year tenure ending the day before.

Sep 17, 2015

Manchester United forecasts record profit next year

LONDON, Sept 17 (Reuters) – English Premier League club
Manchester United said it expected annual profit to
jump by as much as 46 percent thanks to a return to Champions
League soccer and a record kit deal, after reporting an expected
fall in 2014-15 earnings.

The 20-times English champions, who have struggled for form
since manager Alex Ferguson retired in 2013, said on Thursday
they expected 2015-16 adjusted core earnings to be a record 165
to 175 million pounds on revenue of 500-510 million pounds.

Sep 17, 2015

Alton Towers crash to haunt Merlin into 2017

LONDON, Sept 17 (Reuters) – Merlin Entertainments
said it might be another two years before visitor numbers at its
Alton Towers theme park recover to previous levels following a
roller coaster crash in June which hit summer trade and took a
chunk out of profits.

The steep drop came as regulars and potential first-time
visitors stayed away from Alton Towers, one of Britain’s biggest
theme parks, after the roller coaster crash seriously injured
four teenagers and led to two having leg amputations.

Sep 15, 2015

Deal flurry puts pressure on British bookmaker William Hill

LONDON, Sept 15 (Reuters) – William Hill began the
year as Britain’s biggest bookmaker, with an online and retail
business that rivals struggled to match. A series of summer
mergers is pushing it down the pecking order and putting it
under pressure to react.

Driven by tighter regulation and tax pressures in Britain
and continental Europe that are taking chunks out of profits,
big betting names Ladbrokes and Gala Coral are
combining, as are Paddy Power and Betfair.

Sep 15, 2015

Kingfisher set to open another 200 Screwfix stores

LONDON, Sept 15 (Reuters) – Kingfisher, Europe’s
largest home improvements retailer, said it could open 200 more
of its strongly performing trade-focused British Screwfix
stores, as first-half group profit dipped due to adverse foreign
exchange movements on Tuesday.

The firm, which runs the B&Q and Screwfix chains in Britain
and Castorama and Brico Depot in France and other countries,
said adjusted pretax profit for the 26 weeks to Aug.1 fell 2.3
percent to 384 million pounds ($592 million).

Sep 10, 2015

British grocer Waitrose sees some light amid sector gloom

LONDON, Sept 10 (Reuters) – British retailer John Lewis’s
upmarket grocer Waitrose reported on Thursday that trade was
slowly improving as new loyalty offers, cafes and online
click-and-collect demand helps attract shoppers in an industry
besieged by a price war.

Britain’s big four grocers Tesco, Asda,
Sainsbury’s and Morrisons are all being
squeezed at one end by Waitrose and upmarket rival Marks &
Spencer and at the other end by discounters Aldi and
Lidl.

Sep 8, 2015

Britain’s Whitbread eyes savings, price rises to offset higher wages

LONDON, Sept 8 (Reuters) – Whitbread, one of
Britain’s biggest employers, plans cost savings and will raise
some of its prices to counter the substantial impact of enforced
wage increases at its Premier Inn hotels and Costa Coffee
businesses.

The British government announced a bumper pay increase in
July, with the current 6.50 pound ($10) minimum wage set to rise
to a 7.20 pounds for those aged over 25 from next April.

Sep 8, 2015

Whitbread eyes savings, price rises to offset wage rises

LONDON (Reuters) – Whitbread (WTB.L: Quote, Profile, Research), one of Britain’s biggest employers, plans cost savings and will raise some of its prices to counter the substantial impact of enforced wage increases at its Premier Inn hotels and Costa Coffee businesses.

The British government announced a bumper pay increase in July, with the current 6.50 pound minimum wage set to rise to a 7.20 pounds for those aged over 25 from next April.

Sep 8, 2015

Britain’s Whitbread eyes savings, price rises to offset wage rises

LONDON, Sept 8 (Reuters) – Whitbread, one of
Britain’s biggest employers, plans cost savings and will raise
some of its prices to counter the substantial impact of enforced
wage increases at its Premier Inn hotels and Costa Coffee
businesses.

The British government announced a bumper pay increase in
July, with the current 6.50 pound ($10) minimum wage set to rise
to a 7.20 pounds for those aged over 25 from next April.

    • About Neil

      "I'm a company news reporter covering the retail and leisure sectors. Based in London I write on everything from the big retailers to fashion chains, hotels, drinks firms, pubs and coffee shops. I've previously covered the outsourcing sector and before that worked on Reuters sport for three years. You can follow me on Twitter @ReutersMaidment"
      Joined Reuters:
      2008
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