Tool hire firm HSS claws its way back with narrower losses September 5, 2019 Tool hire company HSS has reported a substantial narrowing in pre-tax losses for the first half, despite increased expenditure. The figures Pre-tax loss was down almost 28 per cent to £7.4m, compared to £10.2m for the first half of 2018, the company said. Revenue grew 3.9 per cent to £161.4m during the first half, up [...]
Dixons Carphone posts slump in mobile phone sales September 5, 2019 Dixons Carphone posted a double-digit drop in mobile phone sales during the last quarter, but said today that it was still on track to meet its financial guidance for the year. The consumer electronics giant, which has been hit by a growing volume of customers keeping their handsets for longer and going for SIM-only deals [...]
William Hill chief exec to depart as losses hit bookmaker September 5, 2019 William Hill’s CEO is set to step down at the end of this month amid turbulent times for the UK’s high street bookmaker. Philip Bowcock will quit the top job and his role as company director on 30 September to make way for the bookie’s chief digital officer, Ulrik Bengtsson, to take the reins. Read [...]
Starbucks takes hit as 2020 profit growth seen to be lower than expected September 4, 2019 Starbucks fell on the markets today after it warned that 2020 profit growth will come in under its current 10 per cent. Shares in the company dipped two per cent on the news. Read more: Starbucks delivery expands across central London while company continues green push The announcement was made by finance chief Patrick Grismer, [...]
Fuller’s prepares to hand £69m to shareholders after brewery sale September 4, 2019 London pub operator Fuller’s is preparing to hand £69m in cash back to shareholders following the sale of its brewery business to Japanese producer Asahi. Shares were up 5.41 per cent after the Chiswick-based business also said like for like sales at its managed pubs and hotels had risen 2.5 per cent in the 22 [...]
Hilco Capital circles embattled retailer Links of London September 4, 2019 Homebase-owner Hilco Capital is circling troubled jewellery retailer Links of London. The vulture fund is among a number of bidders for Links, which is trying to secure a rescue deal in the coming days, according to Sky News. Read more: Folli Follie hires advisers to weigh up Links sale A deal is likely to be [...]
Dunelm shares slide despite strong profit growth September 4, 2019 Shares in Dunelm slumped this morning despite strong profit growth as the homeware retailer warned of a challenging year ahead. Dunelm shares were down as much as nine per cent after it reported cautious outlook for the year ahead as Brexit uncertainty weakens consumer confidence. The figures Profit before tax was up 23.4 per cent [...]
Arcadia loses another director as interim chairman steps down September 4, 2019 Sir Philip Green’s retail empire has lost another director as interim chairman Jamie Drummond Smith stepped down. Drummond Smith quit on 30 August, the same day that chief operating officer David Shepherd retired, according to company filings. Read more: Arcadia COO steps down A former partner at Deloitte and chairman of Cattles, Drummond Smith joined [...]
UK economy close to recession after stagnant service sector data September 4, 2019 Growth in the services industry lost momentum in August, indicating an overall contraction in the economy across all sectors and a drop in GDP, leaving the UK one step away from a recession. The service sector’s purchasing managers’ index (PMI) dropped to 50.6 in August, down from 51.4 in July. Any figure under 50 indicates [...]
Halfords’ sales pedal down amid political uncertainty hitting consumers September 4, 2019 Halfords has warned that its summer sales were weaker than hoped after the bicycle and car maintenance retailer suffered from poor weather and a lack of consumer confidence. The company said it expects “political and economic uncertainty” to hit customers’ spending habits for the rest of the year. Shares fell 2.6 per cent in morning [...]