Gaming retailer Green Man prepares for £100m float as it targets ‘aggressive’ international expansion September 4, 2018 Online video game retailer Green Man Gaming has announced plans to float on the London Stock Exchange in order to “aggressively” expand into international markets. The company, which sells games for a number of consoles, including Sony PlayStation and Nintendo Switch, plans to list on the Alternative Investment Market (AIM) later this month with a [...]
McColl’s sales still impacted by Palmer & Harvey collapse September 4, 2018 Sales at convenience retailer McColl's have struggled to pick up for another quarter as the company still grapples with the collapse of wholesaler Palmer & Harvey. The figures Total revenue in the 13 weeks to 26 August was up 0.6 per cent, but like-for-like sales slipped 0.9 per cent due to continued supply chain disruption. [...]
Halfords sales speed up as servicing business benefits from drop in car sales September 4, 2018 Halfords Group reported sales growth this morning against a tough backdrop, but profits are still expected to remain flat on last year. The update came ahead of new chief executive Graham Stapleton's strategy update at the end of this month, though analysts do not expect any radical changes at the business. The figures Total revenue in [...]
Hot weather and high fuel prices drive consumer spending up in August September 4, 2018 Consumers spent an extra 4.5 per cent year-on-year in August, driven by hot weather and high food and fuel prices. Spending on petrol climbed to 10.9 per cent, while there was a five per cent increase in supermarket spending. Brits also flocked to pubs to enjoy the last of summer, spending 11.9 per cent more [...]
Influential advisory group slams Sports Direct and Webuyanycar.com owner ahead of investor meetings September 3, 2018 Shareholder advisory group Pirc has published reports recommending investors vote against key proposals at the annual general meetings (AGM) of retailers Sports Direct and Webuyanycar.com owner BCA Marketplace. Pirc came out strongly against Sports Direct chief executive and 61 per cent shareholder Mike Ashley, recommending that investors vote against his re-appointment. Read more: Sports Direct [...]
House of Fraser administrator faces complaint over Sports Direct sale September 3, 2018 House of Fraser's administrator is facing a complaint over its handling of the department store's collapse and sale to Sports Direct. In a letter seen by City A.M., businessman Paul Mckie claimed he was told by Ernst & Young on the morning of the administration that the firm had not been appointed. The official complaint, [...]
JD.com boss returns to China after being put under US arrest for sexual misconduct September 3, 2018 The top boss of Chinese retail giant JD.com has been allowed to travel back to China after his arrest in the US on suspicion of criminal sexual misconduct. Richard Liu was arrested in Minneapolis on Friday evening and released "pending complaint" the following afternoon, according to police records. JD.com said in a statement today that Liu [...]
Berry Bros & Rudd boss Dan Jago interview: Uncorking Britain’s oldest wine merchant September 3, 2018 The flagship shop of Berry Brothers & Rudd has remained unchanged for over 300 years. Famous customers, from Byron to Churchill, have stepped through the doorway and left St James’s Street behind for a wood-panelled room replete with bottles of top-notch plonk. In the back room, one of the walls has been repurposed after previously [...]
Footasylum share price halved after second profit warning in a year September 3, 2018 Shares in Footasylum have plummeted this morning after the company said it will make a loss in the first half of the year. The sportswear retailer said that squeezed margins and higher investment costs would weigh on earnings for the full year, while revenue is now expected to be below market expectations. Shares fell 47 [...]
German fashionistas lap up British style as Ebay sales spike September 3, 2018 German interest in British fashion has seen the country rise to second in the list of top export destinations for British sellers on e-commerce site Ebay. The US remains the number one market for British exporters on Ebay, but Germany is now in second place, according to data released today by the website. German consumers [...]