Julian Dunkerton to stay on as Superdry CEO until April 2021 October 14, 2019 British fashion brand Superdry has said co-founder Julian Dunkerton will stay on as chief executive officer until April 2021. Dunkerton has been interim CEO since April this year, after very narrowly winning a crunch shareholder vote with a pledge to turn the struggling retailer around. In July Superdry fell to a £85.4m loss, from a [...]
Retail footfall down 10 per cent in seven years amid high street troubles October 14, 2019 The number of shoppers on the high street has dropped by 10 per cent over the last seven years, according to new data which underlines the current challenges facing physical retailers. Read more: Retailers brace for tough Christmas trading According to a new report from Springboard and the British Retail Consortium, retail footfall has decreased [...]
Competition watchdog to examine £1.3bn tie-up between Slug and Lettuce-owner Stonegate and pub chain Ei Group October 11, 2019 The Competition and Markets Authority (CMA) today said it was considering whether the £1.3bn merger between Slug and Lettuce-owner Stonegate and pub chain Ei Group would lessen competition. The watchdog invited comments on the deal from any relevant party by 25 October. Read more: Slug and Lettuce owner Stonegate Pub Company to pay £1.3bn for [...]
Peppa Pig owner Entertainment One deepens losses days before £3.3bn Hasbro merger vote October 11, 2019 Peppa Pig owner Entertainment One has revealed a £43.9m loss in the first quarter of the year, just days before Hasbro puts a massive takeover offer to a shareholder vote. The media firm posted a £43.9m loss, up from a £6.8m loss this time last year, blaming higher debt and its acquisition of Audio Network. [...]
Debenhams secures extra £50m funding for Christmas period October 10, 2019 Debenhams has secured an extra £50m from its lenders to support the struggling department store through the crucial Christmas trading period. Last month the retailer approached its investor consortium – which bought the company out of administration – for the additional financing, on top of the £200m secured in March this year. Read more: Debenhams [...]
Online cosmetics firm Cult Beauty hires advisers to explore sale October 10, 2019 Online cosmetics business Cult Beauty has reportedly hired advisers to explore a potential sale of the company. The firm, which is one of the UK’s fastest-growing online beauty businesses, has appointed JP Morgan to explore its options, Sky News reported. Read more: The Body Shop owner Natura buys Avon for £1.6bn Co-founders Jessica De Luca [...]
Dunelm shares slump despite revenue growth October 10, 2019 Shares in Dunelm dropped more than eight per cent this morning despite reporting growth in the first quarter, following a string of positive trading updates this year. Total like for like revenue grew 6.4 per cent to £255.6m, with a 34.7 per cent increase in online sales. In-store revenue was up 2.9 per cent to [...]
N Brown returns to profit after digital transformation October 10, 2019 Shares in N Brown jumped 7.8 per cent this morning after the plus-size retailer reported it returned to profit in the first half. The figures The retailer reported a statutory profit of £18.8m, up 169.4 per cent from a loss of £27.1m last year. Earnings increased four per cent from £52m to £54.1m in the [...]
Barclay brothers mull £800m sale of The Ritz Hotel October 10, 2019 David and Frederick Barclay, the billionaire brothers that own The Ritz, are reportedly mulling an £800m sale of the five-star Mayfair hotel. The twin brothers, who also own The Telegraph newspaper and Spectator magazine, bought the Grade-II listed building for £75m in 1995. Read more: Profits plunge at Barclay brothers’ Ritz hotel Richard Faber, Frederick [...]
Will the buyout of Thomas Cook’s 555 high street stores take off? October 9, 2019 At 11.53pm on Tuesday night, the directors of family-owned Sunderland-based holiday firm Hays Travel clinched what is surely the biggest coup of their careers: buying Thomas Cook’s entire collection of high street stores. They appear to have timed their move well. Although owners John and Irene Hays wouldn’t tell reporters the price yesterday, they have doubtless [...]