Competition watchdog kicks off probe into JD Sports’ Footasylum acquisition July 24, 2019 The competition watchdog has kicked off its probe into JD Sports’ acquisition of Footasylum. JD Sports bought the remaining shares in the footwear retailer in a deal worth £90m in March this year, with shareholders approving the sale the following month. Read more: JD Sports on track to meet profit expectations However, the Competition and [...]
Beer sales slump dampens Marston’s share price July 24, 2019 Shares in pub operator Marston’s plunged more than 10 per cent today as the company announced that beer sales growth slumped due to poor weather. Sales have been hit by 2019’s “relatively poor weather” following last summer’s heatwave and the England football team’s World Cup success. Read more: Marston’s cheers rise in profits after strong [...]
Britvic revenue slumps in challenging market July 24, 2019 Drinks producer Britvic warned this morning that revenue dipped in the third quarter of the year due to a “more challenging” market. The company, which owns brands such as 7up, Tango and Robinsons, said revenue was £360.1m, a decrease of 1.5 per cent on last year. Read more: Britvic installs Tesco finance guru as new [...]
B&M boosts revenue as expansion plan continues July 24, 2019 Bargain retailer B&M boosted revenue in the first quarter of the financial year, the company said, as it announced that its store opening schedule remains on track. Group revenue growth in the quarter was 21.4 per cent driven by B&M UK revenue growth of 13.8 per cent, the company said in a trading update this [...]
Joules defies retail anguish with growth across the board July 23, 2019 Clothes store Joules this morning announced a double-figures spike in profit despite tough high street conditions. The full-year results will be the last for outgoing CEO Colin Porter, who said the firm was “well-positioned for continued success”. Read more: Joules lures in top Asda director as new chief executive The figures Pre-tax profit rose 14.9 [...]
Has ASOS just issued its third and final profits warning? July 23, 2019 | City Talk By Graeme Evans from interactive investor. With ongoing operational issues aplenty, investor confidence hinges on a belief in stock market adages. Warehouse troubles drove ASOS (LSE:ASC) to a third profits warning in less than a year as the fast-fashion giant slipped even further behind the market value of upstart rival Boohoo Group (LSE:BOO). Shares dived as much as 22 per cent [...]
Fevertree shares go flat as poor weather hits sales growth July 23, 2019 Shares in Fevertree fell more than five per cent in early trading after it said poor weather put a damper on growth in the first half. Read more: Fevertree boss Tim Warrillow quadruples pay package in 2018 The figures Revenue increased 13 per cent to £117.3m in the six months to the end of June. [...]
Off road: Motorpoint share price falls as it warns on profits July 23, 2019 Car dealership Motorpoint’s shares fell 6.5 per cent this morning as it warned half-year profits will fall below the £12m it earned last year. The FTSE-listed retailer blamed “unusually high supply levels” for hurting margins, which means the firm’s half-year profit will drop below last year’s £11.9m. Read more: Car dealership Lookers issues profit warning [...]
Ocado bags sales jump amid decline in supermarket sector July 23, 2019 Ocado has posted a double-digit rise in sales over the last quarter as it defied an overall decline in the supermarket sector. The online retailer boosted its sales by 11.9 per cent in the 12 weeks to 14 July, stealing a larger chunk of the competitive grocery market. Read more: Sainsbury’s sales slip in ‘tough’ [...]
UK retail industry battles ‘toughest ever’ trading conditions July 22, 2019 The health of the UK retail industry is on the brink of falling to record lows as shops battle some of the “toughest trading conditions they’ve ever experienced”. The Retail Health Index, which takes into account consumer demand, gross margins and costs, fell from 77 to 76 in the second quarter, financial services firm KPMG [...]