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Posted by: | Posted on: September 4, 2021

John Lewis sales stalled by strike and sunshine

first_img RETAILER John Lewis said sales growth slowed last week, as a strike on London Underground and a brief Indian summer meant fewer shoppers in its stores.The employee-owned company, traditionally seen as a bellwether of the UK retail sector but which has outperformed competitors for over a year, said on Friday sales at its 28 department stores and two “at home” stores rose 7.2 per cent to £59.5m in the week to 9 October. That compares with growth of 13.9, 15.1 and 11.7 per cent in the previous three weeks respectively.“The tube strike on Monday (4 October) in London, added to the relatively good weather compared to a year ago, contributed to lower footfall in our shops,” said buying and brand director Peter Ruis.“However, the fantastically strong John Lewis Direct (Internet) sales (up 46 per cent) must give us confidence that consumer spending is still strong despite the potential impact of the upcoming public sector cuts,” he said.A survey on Wednesday said consumer confidence fell in September to its lowest level in a year, while one on Tuesday said retail sales growth halved in the same month, as uncertainty ahead of the government’s October 20 review made shoppers nervous.John Lewis also owns the 234-store Waitrose supermarket chain. Here sales rose 9.6 per cent to £92.8m underlining its status as one of the UK’s fastest growing grocers.Commercial director Mark Williamson said the outcome was boosted by the firm’s “Brand Price Match” campaign, where 1,000 branded lines are price matched with Tesco, Britain’s biggest retailer.Sales were also boosted by consumers eating in on Saturday to watch popular television shows “X Factor” and “Strictly Come Dancing,” with sales of pizza up 30 per cent and Italian ready-meals up 23 per cent. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp Friday 15 October 2010 4:44 am whatsapp Sharecenter_img Show Comments ▼ Tags: NULL John Lewis sales stalled by strike and sunshine More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com John Dunne last_img read more

Posted by: | Posted on: August 24, 2021

Genting Singapore narrowly remains in profit in 2020 despite Covid hit

first_img Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Genting earned a further $12.4m in other operating income and $45.5m in interest income. Its operating expenses came to $183.m, 29.4% less than in 2019. Integrated Resort (IR) operator Genting Singapore saw revenue drop 57.1% to SGD$1.06bn (£579.1m/€659.7m/$798.9m), though controlling costs and a late-year recovery helped it avoid posting a loss for 2020. Genting Singapore narrowly remains in profit in 2020 despite Covid hit Of its $1.06bn revenue, gaming revenue from Genting’s Singapore integrated resort declined 56.9% to $700.8m, after its properties were closed from 6 April tl 30 June. While almost all of the operator’s revenue came from Singapore, $288,000 was generated from other Asia-Pacific investments. “We are most grateful to the Singapore Government for providing various support measures in After financial costs, which were down 80% to $4.0m, and revenue from joint ventures, down 69% to $1.2m, Genting Singapore made a pre-tax profit of $113.0m, down 87.2%.  assisting our resort to weather through this crisis,” Genting Singapore said. “Notwithstanding the Government helping us and the Group’s implementation of cost containment measures, the effects of the Covid-19 global pandemic to our businesses was still devastating. Non-gaming revenue, from attractions such as Universal Studios Singapore theme part and S.E.A. Aquarium – both part of Resorts World Sentosa – was down 64.8% to $299.4m. “This led the Group to record the worst financial performance since the opening of our Singapore Integrated Resort in 2010.” However, Genting partially made up for this decline with a more than 20-fold increase in non-IR revenue to $63.5m. This came from its investment business, along with other hospitality and support services.center_img Regions: Asia Singapore The operator said that two third of this profit could be attributable to the period before the 2020 Lunar New Year weekend in late January. After this point, the “steep onset” of Covid-19 in Asia and resulting travel and casino restrictions hit profits. Tags: Genting Singapore Though the business posted a loss for the first half of the year, there were signs of recovery in the latter half of the year, as Resorts World Sentosa reopened  and Singaporeans were offered vouchers to boost the country’s tourism industry. However second half net revenue was still down 49% at $615.5m. H2 net profit, meanwhile, fell 41% to $185.9m. The operator said that, looking ahead, it was clear that international travel would be unlikely to return to pre-pandemic levels soon. However, it said it would still press on with the $4.5bn “mega expansion” of Resorts World Sentosa, and that it remained committed to building an integrated resort in Yokohama in Japan, where it said it was “encouraged by the steps taken by the government” in launching a bidding process. Its tax bill totalled $43.7m, 72% less than in 2019. This meant Genting Singapore’s net profit came to $69.2m, a 90.0% decline. Genting’s costs of sales also declined, by 43.2% to $831.9m. However, this decline was much slower than the drop in revenue, meaning gross profit fell 76.8% to $231.9m. This resulted in an operating profit of $115.8m, down 87.1%. Land-based casino Topics: Casino & games Finance Land-based casino Full year results 2020 9th February 2021 | By Daniel O’Boyle Administrative expenses made up the large majority of these costs, but fell 32% to $131.5m. Selling and distribution expenses dropped 72% to $17.2m and other operating costs grew more than 400% to $25.6m.last_img read more