Superdry’s share price decline continues after profit warning January 13, 2020 Superdry’s share price continued to dive today after the embattled retailer issued a profit warning last week following weak sales over the crucial Christmas trading period. The fashion chain’s shares dropped more than eight per cent this morning to 401.2p, before recovering slightly in the afternoon to 412p. Read more: Superdry shares plunge as it [...]
Harrods security guards vote on strike action January 13, 2020 Harrods security guards have begun to ballot for strike action today following a dispute between union members and management over pay. Members of Unite will decide whether to launch industrial action over a below inflation pay rise and unpaid work. Read more: Man charged with murder for fatal Harrods stabbing The union said members are [...]
City Pub Group warns 2019 profit will miss expectations January 13, 2020 The City Pub Group this morning warned that 2019 profit will fall short of expectations after “one-off factors”, including political uncertainty and strikes on London commuter train services, impacted performance over the Christmas trading period. The firm’s share price fell more than eight per cent this morning after it announced that earnings before interest, tax, [...]
William Hill to beat profit expectations after strong sports betting performance January 13, 2020 William Hill announced this morning that it beat profit expectations last year due to “favourable sporting results”, as the gambling chain revealed that its finance chief is set to step down. The company said full-year adjusted operating profit for 2019 is expected to be between £143m to £148m, ahead of both market and management expectations, [...]
Debenhams in talks with Aviva to offload executive pensions January 12, 2020 Struggling retailer Debenhams is in talks with Aviva about the insurer buying out its executive pension scheme, which holds more than £200m assets. Debenhams is closing in on the deal as it shutters dozens of its department stores around the country, Sky News reported. It would guarantee that members of the executive pension scheme enjoy [...]
Beales on the brink of collapse in difficult weekend for high street January 12, 2020 Department store chain Beales was on the brink of collapse today in what has been a torrid period for the high street. The Bournemouth-based company is set to go into administration if it is unable to complete a sale, according to reports. In December, Beales appointed KPMG to launch a strategic review including assessing a potential sale. [...]
Outgoing John Lewis boss Paula Nickolds in line for £750,000 payoff January 12, 2020 The outgoing managing director of John Lewis Partnership is in line for a £750,000 payoff. Paula Nickolds announced her departure last week following the company’s profit warning, just three months after being appointed as the partnership’s head of brand. The Sunday Times reported that Nickolds was offered a payoff at the time of the restructuring, [...]
WH Smith faces backlash over new chief executive’s pension package January 11, 2020 WH Smith has been criticised by investors for the size of its new chief executive’s pension contribution. Carl Cowling is being paid a pension contribution worth 12.5 per cent of his salary. The Investment Association has issued its strongest-possible objection to the payment, which it says is not in line with the average employee, as [...]
Takeaway.com’s Just Eat offer hits 80 per cent approval threshold January 10, 2020 Takeaway.com’s £5.9bn offer to takeover Just Eat has been accepted by 80.4 per cent of shareholders in a meeting held today. The online food delivery marketplace’s improved offer has been accepted after surpassing the 80 per cent threshold. It means the takeover is now unconditional and will go ahead, with those yet to accept the [...]
Joules shares plummet on profit warning January 10, 2020 Fashion retailer Joules warned profits will fall below expectations today after a challenging Christmas period, triggering a plunge in its shares. The company expects annual pre-tax profits to be “significantly” lower than a forecast £16.7m due to supply chain issues. Read more: Superdry warns profits could hit zero months after Dunkerton’s triumphant return Joules saw [...]