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first_imgThe unusual warm weather in March has helped drive UK retail sales values up by 1.3%, according to the British Retail Consortium (BRC).Compared to last year when figures had declined by 3.5%, overall, this March saw a 3.6% rise in total sales, against a 1.9% decline in 2011. Food sales growth has remained steady and unchanged since February, while non-food items saw improvement. This included online, mail-order and phone sales, which were up 13.9% on a year ago – the best since December 2011.Stephen Robertson, director general of the BRC, said: “It’s worth remembering the sales comparison is against the weakest month of last year, largely caused by the movement of Easter in the calendar, and we’ll have to see whether this is additional spending or just shopping that has happened earlier than usual. Food sales growth continues to be largely underpinned by food inflation rather than by customers buying more.”The overall retail environment is still difficult. Discounting remains a key tactic for retailers trying to encourage consumers to spend, particularly on big indoor items. People are still struggling to balance household budgets against expensive fuel and utilities. The warmth of March was a help, but it will take more than a week of sunshine to transform retailers’ fortunes.”Helen Dickinson, head of retail, KPMG, said: “Increases in food prices rather than volumes was one of the factors behind the uplift in this month’s figures. Rising petrol prices continued to drive up transport and manufacturing costs, causing food prices to increase each month since the start of the year.“Retailers will be hoping Easter provides a much-needed boost, but many are not holding their breath and continue to focus on controlling margins and costs.”last_img read more

first_imgThe SDMS AquaTrojans stay perfect as both boys and girls traveled to Centerville on Monday night. The boys won 94-43 while the girls won 111-71.Individual winners include: Grace Crane-200 Freestyle, 500 Freestyle; Jacob Weber-200 Freestyle, 50 Freestyle; Noah Arnold-200 IM, 1-meter diving; Hannah Weber-100 Butterfly; Evan Ludwig-100 Butterfly; Mackenzie Schantz-100 Freestyle; Jackson Ketcham-100 Freestyle, 100 Backstroke; Matthew Badinghaus-500 Freestyle; and Michaela Cassidy-100 Breaststroke.SDMS won all but 2 relays. SDMS looks to remain undefeated as they travel to Connersville to take on the Spartans Thursday night. Come out and support your undefeated Trojans!!!!Courtesy of AquaTrojans Coach Brandon Lovelesslast_img read more

first_img Swedish leaders warn Minister Shekarabi of channelisation consequences   May 6, 2020 Betsson outrides pandemic challenges as regulatory dramas loom July 21, 2020 Swedish CEOs challenge ‘unrealistic demands’ against threat of igaming becoming obsolete June 8, 2020 Stockholm-listed online gambling group Cherry AB is the subject of an of SEK 9.193bn (£802m) takeover offer from a consortium fronted by British private equity firm Bridgepoint, fronted by chairman Morten Klein and Betsson CEO Pontus Lindwall. The Independent Bid Committee established by Cherry, set up specifically to consider the takeover bid on the board’s behalf but excluding chairman Klein, has recommended that its shareholders accept the public offer of SEK87 (£7.59) per share submitted by European Entertainment Intressenter Bidco.EE Intressenter is a company jointly controlled by Bridgepoint Advisers, which is acting on behalf of a series of partnerships, namely Bridgepoint Europe VI Fund, Prunus Avium, Klein Group, Audere Est Facere, Pontus Lindwall, Berkay Reyhan and Can Yilanlioglu.The offer has been fully financed through a combination of equity provided by Bridgepoint and other consortium members, as well as debt financing provided by Ares Management. The acceptance period for the offer is expected to commence on December 20, expiring around January 23, 2019, subject to extensions. Mika Herold, a partner at Bridgepoint Advisers, commented on behalf of the consortium: “We have followed Cherry closely for a long time and have the highest regard for the success and impressive track record that Cherry and its divisional management teams have achieved through driving innovation in the iGaming sector.“However, we also believe that many of the opportunities and challenges facing Cherry and its subsidiaries are easier to approach in a private setting and with a more favourable capital structure.”One of the conditions of the takeover is the handover of at least 90 per cent of the total outstanding shares in Cherry to EE Intressenter. EE Intressenter does not currently possess any shares in Cherry at this present time, although its members currently possess a total of 50,100,368 shares, equating to approximately 47.4 per cent of the total number of shares and 37.9 per cent of the total number of votes in the company.In a statement, Cherry said that irrevocable undertakings to accept the offer have been received from shareholders who represent 12,298,332 shares, meaning the consortium holds shares – or have secured commitments to accept the offer – corresponding to 59.1 per cent of the capital and 66.5 per cent of the votes.The Independent Bid Committee’s recommendations emphasised a number of considerations in connection with the offer, most notably that the bid presents a premium of 20 per cent compared to the closing price of Cherry’s series B shares on Nasdaq Stockholm on December 17, the final trading day before the announcement of the offer.Herold added: “The changing regulatory environment together with necessary measures to defend and increase Cherry’s market share over time, will require significant investment. “We have presented a financially attractive offer for the shareholders, which is reaffirmed by the support received from some of Cherry’s largest shareholders.”EE Intressenter has said the consortium believes that Cherry will be able to “maximise value by focusing on driving the performance of the individual business units rather than managing the combined entity as a publicly listed company.”The news breaks as Cherry’s home market of Sweden prepares to launch its re-regulated igaming market on January 1. StumbleUpon Related Articles Share Share Submitlast_img read more