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 [...]
Ladbrokes owner GVC upgrades earnings forecast October 9, 2019 GVC, the owner of Ladbrokes Coral, upgraded its full-year earnings guidance as the gambling giant reported an increase in over-the-counter trading following a government crack down on betting machines. The company increased its full-year guidance range to between £670m and £680m, from a previous estimate of £650m to £670m. Read more: GVC hit with £5.9m [...]
Hays Travel to buy 555 Thomas Cook stores, providing lifeline for 2,500 former workers October 9, 2019 Thousands of former Thomas Cook employees could be in for a reprieve, after the collapsed travel giant’s retail estate has been sold to Hays Travel. The agreement will see the Sunderland-based independent travel agent pick up 555 former Thomas Cook stores around the UK. The news offers a lifeline for its 2,500 former retail employees. [...]
B&Q owner Kingfisher appoints new finance boss October 9, 2019 B&Q owner Kingfisher has appointed a new chief financial officer, it said today. Bernard Bot joins the home improvement group after his most recent role as finance boss of travel technology firm Travelport Worldwide which was New York-listed until June. His appointment comes less than a month after chief executive Thierry Garnier took up his [...]