Sports Direct share price falls despite revenue rising 4.7 per cent July 16, 2015 The figures Shares in Sports Direct fell 0.48 per cent to 731p per share in early morning trade. The company said group revenue rose 4.7 per cent to £2.83bn in the year to April 2015, from £2.71bn in 2014. It was helped by its "sports retail" and "brands" sectors, which rose 5.5 per cent and [...]
Anglo American share price falls as it books up to $4bn in writedowns in first half July 16, 2015 Shares in miner Anglo American were tarnished this morning after it said it expects to book $3bn-$4bn in writedowns in the first half of this year, due to its iron ore operation in Brazil and some Australian coal assets. The FTSE 100-listed company, due to report its first half results next week, attributed the impairments to [...]
BT share price dips as Ofcom considers spinning-off Openreach July 16, 2015 It's been months in the offing and the cause of various, vociferous complaints – but now communications watchdog Ofcom has finally come out with it: it's considering breaking up BT. In an outline of a review this morning the regulator said separating BT from its Openreach network "could deliver competition or wider benefits for end [...]
Competition and Markets Authority accuses supermarkets of “confusing” promotions July 16, 2015 You could say the UK's competition body has just told supermarkets to BOGOF, after the Competition and Markets Authority (CMA) accused supermarkets of "confusing" people about special offers The after a major three-month investigation, the CMA said with 40 per cent of spending on groceries going on items on offer, shoppers are still being misled [...]
Epiphany co-founder Shane Quigley turns his hand to Matalan with launch of homeware brand July 15, 2015 Serial entrepreneur Shane Quigley, who turned £5,000 into £18m by co-founding digital marketing group Epiphany, is leading the charge for Matalan’s launch of an online-only homeware brand – Matalan Direct. He heads the retailing group’s challenge to established online homeware retailers B&Q, Dunelm and HomeSense. Earlier this year Quigley started Earth Bathrooms, a homeware brand [...]
Barclays’ second boss in a week exits bank: Sir Mike Rake follows Antony Jenkins as chairman John “Mack the Knife” McFarlane wields axe July 15, 2015 Barclays deputy chairman Sir Mike Rake has become the second casualty of newly-installed chairman John McFarlane in a week, after he confirmed plans to leave the bank “by the end of 2015” yesterday – which leaves the rest of the Barclays board looking decidedly exposed, analysts have suggested. BT chairman and Confederation of British [...]
Severn Trent targeting positive 2016 performance as costs drop July 15, 2015 Utility firm Severn Trent issued a reassuring trading update yesterday, and told investors it is on track to deliver a full year performance in line with expectations. The update boosted shares by almost one per cent. Operating costs are expected to be lower compared with last year, which the company attributed to organisational changes and [...]
Burberry share price hit by slower trade in Hong Kong July 15, 2015 British fashion brand Burberry hopes to head off deceleration in the Hong Kong market with a variety of cost-reducing moves, including possible job cuts and downsizing. The company reported an eight per cent uplift in retail revenue to £407m in the first quarter of 2015. Shares in the group were down by 2.59 [...]
Cath Kidston moves towards global expansion with Japanese purchase July 15, 2015 Cath Kidston Group has taken a major step towards achieving its global expansion plan by buying back its Japanese franchise business from Sanei International. The company did not reveal how much it had paid to buy back the Japanese operations. Cath Kidston Japan will take full control of the Japanese business from 1 September. Sanei, [...]
Lidl celebrates record £4bn turnover as discounter cements place in UK with new head office July 15, 2015 Lidl’s UK operation has announced plans to build a new head office in Tolworth, south west London, in a move seen as cementing its big player status in the UK supermarket sector. The expansion comes in the wake of what the company said is its most successful trading year yet. The new office [...]