Marks & Spencer profit knocked lower by poor clothing sales November 6, 2019 Weak clothing and home sales knocked profit 17 per cent lower at Marks & Spencer in its latest half-year, it revealed today. But the high street chain’s share price led the FTSE risers, climbing up 5.3 per cent to 192.05p, as investors felt it could have been a lot worse as boss Steve Rowe said [...]
Mothercare shuts up shop in UK as PwC called in for administration November 5, 2019 Mothercare has called in the administrators, meaning it will shutter its 79 UK stores and put 2,500 jobs at risk. Administrators from PwC said the baby retailer’s outlets will go in a phased closure, after the UK business had been “loss making for a number of years” despite its international franchises being profitable. On Monday, [...]
Boots owner Walgreens exploring taking pharmacy chain private November 5, 2019 Walgreens Boots Alliance has been exploring whether to go private following private equity interest in the US pharmacy chain, which has a market value of more than $55bn, according to people familiar with the matter. In recent months, Walgreens has held preliminary discussions with some of the world’s largest private equity firms about putting together [...]
Morrisons takes fight over data breach liability to Supreme Court November 5, 2019 Morrisons will begin its final appeal to the Supreme Court this week after losing a landmark case over the liability of employers in staff data breaches. The supermarket giant lost an initial challenge at the Court of Appeal in October last year after a judge ruled that the supermarket was legally liable for a former [...]
GAN shares soar 11 per cent after huge third quarter revenue growth November 5, 2019 Shares in GAN, the internet gambling software, services and online gaming developer, shot up 9.5 per cent today after the company released its third quarter trading update this morning. The company now expects year-over-year revenue growth of more than 100 per cent in 2019. Read more: Gambling stocks continue their slide after damning report from [...]
Topps Tiles chief executive quits after 12 years November 5, 2019 Topps Tiles chief executive Matt Williams has announced plans to step down this month and will be replaced by the group’s finance chief. Williams will step down on 29 November following the publication of the company’s full-year results earlier that week, but will remain as an advisor to the business until the end of May [...]
Gambling stocks continue to slide as MPs seek £2 online betting limit November 5, 2019 Gambling stocks fell for a second day this morning, following a report by MPs released yesterday that called for a cut in online casino stakes. The gambling related harm all-party parliamentary group (APPG) yesterday called for stake and deposit limits to be introduced on online gambling products. Read more: Gambling stocks tumble as MPs call [...]
Jewellery maker Pandora warns of steeper sales decline November 5, 2019 Jewellery retailer Pandora this morning warned of a steeper fall in sales this year, as it said efforts to revitalise the brand had weighed on costs in the third quarter. Pandora said organic growth in 2019 is expected to be minus seven per cent to nine per cent, compared to previous guidance of a three [...]
Primark bounce helps offset sugar slump at ABF November 5, 2019 Ingredients group Associated British Food posted a slight rise in profit for the last 12 months, as a strong showing in fashion arm Primark offset a sharp slowdown in its embattled sugar business. Shares in the FTSE 100 group climbed four per cent to 2,329p in early morning trading. The figures Adjusted operating profit hit [...]
UK consumer spending growth slows under Brexit uncertainty November 5, 2019 UK consumer spending slowed in October, a new report has shown, as Brits remained cautious with their money in the run-up to the missed 31 October Brexit deadline. Read more: UK economy to hit decade low even with Brexit deal, report warns Spending at the shops grew by 1.5 per cent in October year on [...]