Tag Archives: Retailer (TRBC level 2)

Italy’s Autogrill sells its US highway business for $ 375 million | Instant News


FILE PHOTOS: Autogrill point visible on the Grande Raccordo Anulare (Great Ring Junction) highway in Rome, Italy, 8 March 2016. REUTERS / Max Rossi

(Reuters) – Italian caterer Autogrill SpA said on Wednesday it was selling its US road business to a consortium led by Blackstone Infrastructure Partners for $ 375 million.

The sale of businesses offering food and drink from brands such as Starbucks and Burger King along this highway is part of Autogrill’s plans set for 2019.

The Benetton family-controlled group sold its Spain operations to a Barcelona, ‚Äč‚ÄčArea-based restaurant group in January, while the Canadian highway travel center operation was sold out about two years ago.

Autogrill, which also runs a catering business at the airport, hopes to finalize a deal by the summer of 2021.

Because of the sale, the company revised its revenue guidelines for this year and 2024.

It posted a loss of 480 million euros last year as the pandemic vacated the bars and restaurants it runs on airports and highways.

Reporting by Sarah Morland in Gdansk; edited by Jonathan Oatis

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UPDATE Fashion retailer Primark 1-AB Food stopped placing new orders in Myanmar | Instant News


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LONDON, March 31 (Reuters) – Primark Associated British Foods owner said the fashion retailer had stopped placing new production orders in Myanmar following a military coup last month.

“Primark has now stopped new orders in Myanmar,” said a spokesman for AB Foods.

The prime source of 21 production sites in Myanmar. That compares with 527 in China and 127 in India.

The retailer’s move follows Sweden’s H&M and Italy’s Benetton Group which stopped placing orders in Myanmar earlier this month. (Reporting by James Davey; editing by William James)

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UPDATE 1-UK’s Topps Tiles expects sales, margins recovered after the first half hit | Instant News


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March 31 (Reuters) – Topps Tiles posted lower half-year sales on Wednesday, but the tile retailer said it expects revenue to rise “sharply” and margins to recover to normal levels as the UK’s current close gradually eases in the middle. April.

The company’s commercial segment has taken a significant hit, particularly across restaurants, bars and recreation areas due to the COVID-19-caused lockdown, but retail sales are on hold as more Britons undertake home improvement projects.

Total revenue for the 26-week period ending March 27, 2021 fell to 103.6 million pounds ($ 142.14 million) from 106.2 million last year, Topps said, adding that margins in the second quarter will be lower than the first due to restrictions. virus.

The company’s shares fell about 1.5% to 68 pence in early trading Wednesday.

British Prime Minister Boris Johnson set a four-stage easing of the lockdown in February during which non-essential retailers will be allowed to operate from April 12, providing assistance to Topps as its stores close for most of the year.

The company, which posted a 17.3% drop in like-for-like retail sales in the second quarter, said there was also increasing pressure from additional shipping costs related to online sales when its stores were closed.

Topps, however, expects good progress overall in the second half of this year.

The number of people going to UK shops rose 6.6% in the week to March 27, compared with the previous week, industry data showed on Monday. ($ 1 = 0.7289 pounds) (Report by Priyanshi Mandhan and Pushkala Aripaka in Bengaluru; edited by Uttaresh.V)

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Topps Tiles UK forecasts sales, margin recovery due to easy lockups | Instant News


March 31 (Reuters) – Topps Tiles reported lower half-year sales on Wednesday, but the tile retailer said it expected sales to pick up “sharply” and margins recovering to normal levels as the UK’s current close gradually eased in the middle. April.

Total revenue for the 26-week period fell to 103.6 million pounds ($ 142.14 million) from 106.2 million last year, the company said, adding that margins in the second quarter will be lower than in the first due to restrictions. ($ 1 = 0.7289 pounds) (Report by Priyanshi Mandhan and Pushkala Aripaka in Bengaluru; edited by Uttaresh.V)

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Epic Games filed a complaint against Apple with British regulators | Instant News


STOCKHOLM, March 30 (Reuters) – Epic Games said on Tuesday it had filed a complaint with UK competition regulators in support of its investigation into Apple Inc.’s anti-competitive behavior.

The UK Competition and Markets Authority said earlier here This month has opened an investigation into Apple after complaints that the iPhone maker terms and conditions for app developers are unfair and anti-competitive. (Reporting by Supantha Mukherjee, European Technology & Telecommunications Correspondent, based in Stockholm)

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