Target hits the bull’s-eye with highest same-store sales growth in 13 years August 22, 2018 Target has bucked the retail trend to publish strong sales growth today, reporting same-store sales that were higher than any it recorded in the past 13 years. The New York-listed retailer, the second largest in the US, saw same-store sales grow 4.9 per cent year-on-year in the three months ending early August, with the company crediting increasing [...]
Playtech boss gets £66k pay rise despite remuneration vote loss August 22, 2018 Gambling software manufacturer Playtech has awarded its chairman a £66,000-a-year secret pay rise months after losing a remuneration vote with shareholders. Chairman Alan Jackson has seen his salary increase from £384,000 to £450,000 a year, Sky News revealed, despite the fact that the company's share price has almost halved over the course of a year. The majority [...]
The Hut Group snaps up new office space at MediaCityUK in Salford for tech team August 22, 2018 The Hut Group, one of the UK's largest private companies, has taken up extra office space to accommodate its rapidly expanding head count. The company, which owns beauty and health brands including Skinstore and Lookfantastic as well as range of ecommerce sites, has snapped up space in Salford's MediaCityUK. The area is also home to large [...]
Moonpig owner Photobox Group acquires Dutch market leader Greetz August 22, 2018 Owner of greetings card firm Moonpig, Photobox, today announced it had bought rival Dutch firm Greetz. The acquisition positions Photobox as the market leader in greetings cards and personal gifting. Dutch market leader Greetz sold around 7.5m cards last year, and also provides services sending flowers, chocolates and beverages to customers. It widens Photobox's brands, which also [...]
Flooring distributor Headlam shares plummet as sales slow down in first half August 22, 2018 Shares in floor covering distributor Headlam dived five per cent after markets opened today as it reported a steep drop in sales in the first half of the year. Like-for-like revenue at the firm took a hit compared to last year, falling 5.2 per cent. Before tax profit edged up 0.9 per cent to £17.73m – while it [...]
Debenhams names new finance boss August 22, 2018 Debenhams has named Rachel Osborne as its new chief financial officer at a crucial time for the retailer amid the crisis on the high street. Osborne is currently finance boss of Domino's Pizza Group, but announced a sudden departure in June, sending the company's shares down five per cent. She was the third CFO of Domino's in [...]
Laura Ashley scraps dividend after profits are slashed August 22, 2018 Laura Ashley blamed “a changing retail landscape” for a dramatic fall in profits this morning that saw them all but eradicated, and which led to its chairman not recommending a dividend for investors. The figures Amid a “challenging” trading environment the high street stalwart saw statutory profits crash by 98 per cent for the 12 [...]
TJ Maxx owner scores highest store sales increase in two years August 21, 2018 Cut-price clothing retailer TJ Maxx’s owner today hailed double-digit growth in net sales and stronger growth in same-store sales than it’s experienced in two years. The figures TJX reported a 12 per cent year-on-year rise in net sales to $9.3bn (£7.2bn) for its second quarter results, eclipsing last year’s three per cent growth in revenue. [...]
Yo! Sushi eyes opportunities for supermarket growth after acquisitions August 21, 2018 Yo! Sushi increased sales last year ahead of two major acquisitions which could see the company expand into the grocery sector this year. The Japanese restaurant chain reported a 1.7 per cent uptick in total sales to £89.9m for the year to 27 November. This included a four per cent rise on a like-for-like basis, driven by the strength [...]
Game Digital’s revenue slides but esports expansion holds promise August 21, 2018 Video game retailer Game Digital has posted a fall in revenue in its end of year results as it is hit by a tough market for pre-owned games. Revenue for the year to 28 July fell slightly from £782.9m to £780m which the company blamed on "continued challenges in the pre-owned business" which it said [...]