Retailer Bathstore collapses into administration as jobs hang on the line June 26, 2019 Bathstore, the UK’s largest specialist bathroom retailer, has collapsed into administration this afternoon. The future for more than 500 jobs and roughly 135 stores lies in doubt as administrators said today they are looking to sell the business. Ryan Grant and Tony Nygate of BDO’s restructuring unit have been appointed joint administrations. BDO business restructuring [...]
Pizza Express losses widen amid strain on casual dining sector June 26, 2019 Pizza Express has reported hefty losses for the full year as it battles with increased competition in the casual dining sector. The restaurant chain posted a loss of £55.8m in 2018, an increase of more than 40 per cent from £31.6m the previous year. Read more: China expansion and UK troubles take slice out of [...]
Why ASOS just dived to a multi-month low June 26, 2019 | City Talk By Graeme Evans from interactive investor. With an impressive recovery in 2019 unwinding in spectacular fashion, how far will the shares fall? A downgrade for ASOS (LSE:ASC) shares yesterday flagged margin pressures as the former high-flying stock attempts to drive global expansion in the face of fast-fashion rivals including Boohoo (LSE:BOO). The note from UBS analyst Olivia Townsend suggests that recent [...]
Oxford Street discounts signal a troubling start to the summer for retailers June 25, 2019 The crucial summer selling season is finally upon us, but for retailers on London’s most celebrated high street, all is not well. Big red discounts in shop windows line the parade on Oxford Street, where many of the country’s flagship fashion stores are offering major price reductions in a desperate bid to boost their sales. [...]
UK retail sales see biggest drop for 10 years in June June 25, 2019 UK retail sales fell at the fastest pace in over 10 years this month, according to a survey released today, due in part to the warm weather and football world cup last June. Read more: Pound falls as UK economy shrinks by 0.4 per cent in April Nonetheless, the closely-watched survey from the Confederation of [...]
When is Amazon Prime Day 2019? Everything you need to know June 25, 2019 Amazon is preparing to launch its longest Prime Day ever, forming a 48-hour sales event starting at midnight on 15 July. The two day event on 15 and 16 July, similar to a Black Friday sale, offers Prime subscribers the chance to buy products from the retailer at cut prices for a limited period. Amazon [...]
Dunelm shares: Upgrade cycle not over June 25, 2019 | City Talk By Graeme Evans from interactive investor Up 70% already in 2019, this quality operator is well-fancied and tipped to keep outperforming. Dunelm (LSE:DNLM) continues to defy expectations after another profits upgrade extended the home furnishing chain’s remarkable share price rally for 2019 to a whopping 81%. One of the stand-out performers in the FTSE 250 index so far this [...]
New Look posts £500m loss as turnaround continues June 25, 2019 Struggling retailer New Look has posted a £500m loss as it continues with its turnaround plan. The figures The high street chain reported a statutory loss before tax of £522.2m, compared to a £190.2m loss the previous year, due to a £423.3m goodwill and brand impairment charge related to the restructuring. However, the firm also [...]
Sainsbury’s cuts market share decline as Aldi and Lidl soar June 25, 2019 Sainsbury’s has cut short the decline in its market share as discount rivals Aldi and Lidl continue to boost sales. Customer spend at Sainsbury’s dipped 0.6 per cent in the three months to 16 June, an improvement on the 1.2 per cent decline in the previous period following its failed merger with Asda. Read more: [...]
Carpetright shares jump as turnaround plan remains on track June 25, 2019 Carpetright has reported a narrowing of losses and a return to like-for-like sales growth for the full year as it continues to roll out its turnaround plan. Read more: Carpetright shares soar as restructuring plan starts to pay off The figures Revenue fell 13.4 per cent to £386.4m in the 52 weeks to the end [...]