Treatt savours solid 2019 as profit rises despite citrus price fall November 26, 2019 Treatt, which manufactures flavour and fragrance ingredients for the beverage and consumer product industries, defied a collapse in the price of citrus oil to post a seventh consecutive year of profit growth. Read more: FTSE 250 hits highest level in 15 months as Conservatives maintain poll lead The figures Profit at the group rose 5.2 [...]
Just Eat investor Cat Rock backs Takeaway offer amid ‘terrible value destruction’ November 26, 2019 A major Just Eat shareholder has urged fellow investors to back a takeover offer from Takeaway.com, saying the deal was necessary to avert the firm’s “terrible value destruction”. Cat Rock Capital, which holds a stake of roughly 2.6 per cent in the delivery firm, today threw its weight behind Takeaway’s offer, which values Just Eat’s [...]
Topps Tiles warns General Election jitters are causing its sales to slump November 26, 2019 Topps Tiles posted a dip in profit for its full-year results today, as it warned the upcoming General Election has hurt customer demand. The figures Profit before tax slipped 1.6 per cent year on year to £12.5m for the 12 months to the end of September. Revenue climbed 1.1 per cent to £219.2m while Topps [...]
Investigation finds Black Friday deals cheaper at other times of year November 26, 2019 Almost all Black Friday deals can be found cheaper or available for the same price at other times of the year, an investigation has found just days before the annual shopping event. An investigation tracked 83 products on sale on Black Friday last year, from six months before the discount day until six months after, [...]
Ex-CEO of WH Smith handed £3.4m in final pay packet November 25, 2019 WH Smith’s former boss Stephen Clarke has collected a £3.42m golden goodbye from the high street giant after overseeing a steep rise in its share price. Clarke’s total pay climbed from £2.89m to £3.42m last year, rising 18.6 per cent after a rise in salary, bonus and long-term incentives (LTI). Read more: Intu sells retail [...]
LVMH strikes $16.2bn deal for jeweller Tiffany November 25, 2019 Louis Vuitton owner LVMH has struck a $16.2bn (£12.6bn) deal to buy iconic Fifth Avenue jeweller Tiffany after first launching a bid late last month. The $135 (£105) per share deal will see the jeweller join top name brands such as Givenchy and Christian Dior under LVMH’s umbrella. Read more: When a fat finger caused [...]
Sports Direct to rebrand as Frasers Group as Mike Ashley attempts to elevate image November 25, 2019 Sports Direct International has announced it will rebrand as Frasers Group as retail tycoon owner Mike Ashley attempts to improve the company’s image. The proposed rebrand, which will be voted on by shareholders on 16 December, follows the announcement that the company is planning to launch a chain of of luxury high street stores named [...]
Ebay to sell Stubhub to Viagogo for $4bn November 25, 2019 Ebay has agreed to sell its ticket sales platform Stubhub to Viagogo in a deal worth $4.05bn, following pressure from activist investors to offload parts of its business. The auction site bought Stubhub for $310m in 2007, but in March this year it launched a strategic review of its assets following pressure from activist investors [...]
Asos appoints first chief growth officer November 25, 2019 Asos has appointed its first chief growth officer to strengthen its senior management team as it recovers from a drop in profit following a botched international expansion. The online retailer said Robert Birge, who was previously chief marketing officer at travel search site Kayak and media agency IMG, will join the company on 3 December. [...]
Intu sells retail park to New River REIT for £40m November 25, 2019 Retail landlord Intu has sold a Northern Ireland retail park to property investment trust New River REIT for £40m. The sale of Sprucefield Retail Park in Lisburn brings Intu’s year-to-date disposals total to £268m, as the shopping centre operator aims to fix its balance sheet. Read more: New River REIT swings to a loss on [...]