Sports Direct pleads with big four auditors to check its books September 10, 2019 Sports Direct, the retailer founded by Mike Ashley, is pleading with the big four accountancy firms to audit its books as it worries smaller accountants would not be up to the task. Over the last fortnight the company has sent overtures to the auditors ahead of its annual general meeting tomorrow, Sky News reported. Grant [...]
Magners maker C&C to move to London in October September 10, 2019 The maker of Bulmers and Magners is set to say goodbye to its Dublin listing and join the London exchange in October, it said today. It comes after C&C last year acquired British firms Matthew Clark and Bibendum, meaning it now gets most of its revenue from the UK. Meanwhile most shareholders are either based [...]
Warehouse and Oasis staff face redundancy as retailer cuts costs September 10, 2019 Warehouse and Oasis staff are under threat of redundancy as the retailer attempts to slash costs in a further blow for the struggling UK high street. Staff have been told their hours could be cut, in some cases by up to half, with some senior store positions demoted to sales advisor roles, City A.M. understands. [...]
Mike Ashley to face shareholder anger at Sports Direct meeting September 10, 2019 Retail tycoon Mike Ashley is preparing to face frustrated Sports Direct shareholders at a meeting tomorrow following a turbulent year for the business. The founder and chief executive of the sportswear retailer has come under fire from shareholder advisory groups in the run up to tomorrow’s annual general meeting. Read more: Mike Ashley makes move [...]
Selfridges to open permanent cinema on Oxford Street September 10, 2019 Selfridges will open a permanent cinema in its flagship Oxford Street store at the end of November, the upmarket department store said today. Read more: Cinema websites crash amid rush for Avengers endgame tickets The cinema is the result of a partnership between Selfridges and boutique cinema the Olympic Studios, which has movie theatres in [...]
Investment in vegetarian firm helps Hilton Food serve up higher profit September 10, 2019 Food processing and packaging firm Hilton Food Group has reported increased profit for the first half, helped by a deal with a manufacturer of vegetarian and vegan foods. The figures Hilton reported a 10.6 per cent increase in profit before tax for the first half of 2019. Revenue grew 5.6 per cent to £912.1m – [...]
Oasis and Warehouse buy London menswear website September 10, 2019 The Oasis and Warehouse group has moved into menswear for the first time with the acquisition of a London-based online fashion brand. The Idle Man, which is headquartered in Shoreditch, was founded in 2014 by former Asos buyer Oliver Tezcan. The e-commerce platform sells men’s brands and its own labels. Read more: Oasis and Warehouse [...]
Alibaba chairman Jack Ma steps down September 10, 2019 Alibaba chairman Jack Ma will retire from the Chinese e-commerce giant today, marking the occasion with a huge farewell party. Ma co-founded the business, which has become one of the world’s biggest internet firms, 20 years ago in Hangzhou in eastern China. Read more: Alibaba delays Hong Kong listing over protests The entrepreneur will hand [...]
JD Sports revenue growth defies high street gloom as it calls for ‘fairness’ on leases September 10, 2019 JD Sports has posted a sharp rise in revenue and profit for the half year, as it called for “fairness” on its leases amid gloomy conditions on the high street. Read more: Competition watchdog kicks off probe into JD Sports Footasylum acquisition The figures Revenue soared 47 per cent to £2.7bn in the 26 weeks [...]
Ferrari powers ahead with two new models as firm chases profit boost September 9, 2019 Italian supercar manufacturer Ferrari lifted the lid on two new cars today as it pushes on with an aggressive roll-out plan designed to keep its recent profit and share price growth in top gear. The so-called prancing horse, long a motor racing icon and household name in luxury cars, unveiled the F8 Spider and 812 [...]