Mulberry swings to loss on tough UK retail market and House of Fraser collapse June 19, 2019 Luxury handbag maker Mulberry swung to a loss of £5m last year as the “challenging” UK retail market and the collapse of House of Fraser hit sales. The figures Mulberry reported a pre-tax loss of £5m for the year ending 30 March, down from £6.9m profit the previous year. Read more: Mulberry widens losses after [...]
Tesco shares: Reasons to be cheerful June 18, 2019 | City Talk Early selling following this Q1 update attracted bargain hunters. Our head of markets explains why. Tesco (LSE:TSCO) recovery from the dark days of having taken its eye off the ball in the UK continues apace. The radical overhaul which the business has undergone has seen Tesco’s shares rise by 50% over the last three years. More [...]
Going, going, gone! Sotheby’s sold in $3.7bn deal with telecoms mogul June 17, 2019 Auctioneers Sotheby’s is being taken private, in a deal which values the business at $3.7bn (£2.9bn), the company said today. Patrick Drahi, the founder of telecoms giant Altice Europe, will pay $57 per share, a 61 per cent premium to the firm’s close on Friday. The billionaire art collector will take Sotheby’s into private ownership [...]
Ted Baker share plunge fails to attract buyers June 17, 2019 | City Talk By Graeme Evans from interactive investor. Despite sinking to prices not seen since 2012, investing in Ted shares remains hugely speculative. Ted Baker (LSE:TED) shares are trading at levels not seen since November 2012 after another profits warning accelerated the de-rating of this former high-flying lifestyle brand. Whereas Ted’s shares had once been reassuringly expensive at around 30 times [...]
Angling Direct pushes ahead with expansion plans June 17, 2019 Angling Direct has opened a new store as the fishing equipment retailer pushes forward with its expansion plan. The store opening is part of the retailer’s growth plans, which were revealed in its recent results. Read more: Angling Direct doubles down on expansion plans Last month Angling Direct boosted sales by 39 per cent to [...]
Morrisons and Amazon: Retail’s newest BFFs June 14, 2019 | City Talk By Graeme Evans from interactive investor. Extending its relationship with the world’s biggest retailer is shrewd business by Morrisons’ CEO. The quiet revolution at Morrisons (LSE:MRW) under chief executive David Potts continues to impress after the supermarket chain extended its partnership with online giant Amazon (NASDAQ:AMZN). Whereas its rivals have looked to grow through consolidation – with Tesco (LSE:TSCO) buying Booker and Sainsbury’s (LSE:SBRY) trying to [...]
SSP buys three Jamie Oliver restaurants saving 250 jobs June 13, 2019 Three of Jamie Oliver’s restaurants have been rescued after administrators secured a sale with SSP, saving 250 jobs. SSP will take over the three sites at Gatwick Airport after the celebrity chef’s restaurant business collapsed into administration last month. Read more: Jamie Oliver’s restaurant business collapses into administration All of Oliver’s restaurants, excluding the Gatwick [...]
Majestic Wine ‘in advanced talks’ over sale of retail arm June 13, 2019 Majestic Wine announced it was in advanced talks with multiple bidders over the sale of 200 stores as it focuses on its online business. The company plans to spin off the Majestic Retail and Commercial arm and focus on its Naked Wines brand, which has a “greater potential for growth”. The figures In the year [...]
Iceland speeds up store roll-out as Christmas ad improves perceptions June 13, 2019 Iceland Foods is aiming to speed up its store roll-out this year despite facing a market with uncertain customers. The figures Sales rose 4.5 per cent over the financial year to almost £3.2bn, the company announced today. Adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) fell 8.4 per cent to £140m. It came after [...]
Morrisons to expand Amazon online delivery service across UK June 13, 2019 Supermarket Morrisons said today it will expand its online delivery partnership with Amazon to more cities across the UK. The Morrisons at Amazon service allows Amazon Prime customers to receive online same day grocery deliveries in Leeds, Manchester, Birmingham and parts of London and the home counties. Customers can order groceries online which are picked [...]