Mike Ashely’s Frasers Group raises stake in Boohoo to 22 per cent January 18, 2024 Mike Ashely’s Frasers Group has upped its stake in Boohoo again, taking it from 17 per cent to over 22 per cent. Shares in the fast fashion firm leaped over three per cent this morning as investors responded positively to the news. Frasers, formerly called Sports Direct, said over the summer its purchase of Boohoo [...]
High-scoring Cowboys-Seahawks game costs Flutter $80m but bookie extends revenue and market share January 18, 2024 Flutter has said punters beat expectations in its fourth quarter but this was cushioned by stronger than expected margin growth.
Young’s reports bumper Christmas sales as shareholders wave through City Pub Group deal January 18, 2024 Young and Co.'s pub chain said raked in bumper sales during the Christmas period as it sealed the acquisition of the The City Pub Group this morning.
Watches of Switzerland: Shares crater 30 per cent as demand for luxury flattens January 18, 2024 Shares in Watches of Switzerland have fallen by over 30 per cent after the luxury watch maker warned on its earnings for the year. . In an update, the Rolex seller said that it was bruised by “challenging macroeconomic conditions” over Christmas which impacted consumer spending in luxury retail. It now expects revenue for the [...]
JD Sports Fashion continues European expansion with completed acquisition of Poland’s MIG January 18, 2024 JD Sports Fashion has completed the acquisition of a 40 per cent stake in a Polish investment group as it pushes into European markets.
Currys confident profits will beat forecasts despite slipping sales over Christmas January 18, 2024 Electrical retailer Curry’s said group profit before tax is expected to be ahead of expectations, despite sales falling over the Christmas period.
Sainsbury’s to shutter banking division in ‘food first’ strategy push January 18, 2024 Sainsbury's will undertake a "phased withdrawal" from its banking efforts, the supermarket giant confirmed this morning.
London’s tourist tax: Struggling luxury brands LVMH, Mulberry and Burberry have other problems, too January 17, 2024 Mulberry has fallen out of fashion with investors as shares slumped over four per cent this morning, with the luxury retailers expressing growing concerns about flattening sales and the tourist tax. The British fashion house, best known for its leather handbags, has had around £3bn wiped off its market value in the last five months [...]
Katy Perry fronted Just Eat raise guidance for third time despite falling orders January 17, 2024 Just Eat raise its earnings guidance for the third time this year despite a decline in food orders. Orders fell by seven per cent to €223m (£191m) over the fourth quarter, the Netherland-founded firm said in an update this morning. Analysts at Jefferies said this was -2.6 per cent behind their expectations but noted that [...]
UK nightlife and hospitality ‘teetering on brink’ of collapse as government intervention urged January 17, 2024 The UK’s hospitality and nightlife sector is “teetering on the brink” of collapse, industry voices have warned, after a number of high profile closures have piled pressure on the government to provide more support. Less than a month into the new year, it has been reported that up to 43 hospitality venues across Britain face [...]