JD Sports ‘on track’ to meet profit expectations as it gears up for AGM July 3, 2019 Sporstwear retailer JD Sports struck a confident tone in the City this morning as it claimed it was on track to meet profit forecasts. Shares in the high street brand edged up three per cent in morning trading after the group said it expected to deliver headline pre-tax profit ahead of its full-year results next [...]
The Works shares rise as value arts retailer boosts revenues July 3, 2019 Discount UK retailer The Works saw its shares rise 10 per cent this morning after its full-year results showed increased underlying profit in the year to April 2019. Read more: Arts and crafts store The Works plummets after profits take a hit Investors were not put off by the heavy costs The Works incurred related [...]
Sainsbury’s sales slip in ‘tough’ supermarket environment July 3, 2019 Sainsbury’s sales fell in its latest quarter, the supermarket revealed today, as boss Mike Coupe warned of the consequences of a no-deal Brexit. Like-for-like sales slipped 1.6 per cent year on year for the four months to the end of June while retail sales dropped 1.2 per cent, piling pressue on Coupe after the supermarket’s [...]
Amazon to create 2,000 UK jobs in ‘clear vote of confidence’ post-Brexit July 3, 2019 E-commerce giant Amazon will create 2,000 new jobs in the UK this year, as it seeks to up its total workforce to almost 30,000 roles. Amazon said the new positions would include engineers, software developers, data scientists and experts in cloud and machine learning, along with a number of entry-level roles. Of those created, more [...]
Nike pulls ‘racist’ US flag trainers after Kaepernick backlash July 2, 2019 Sportswear giant Nike has pulled a new design of trainers featuring an early version of the US flag after a complaint from Colin Kaepernick, a former NFL player, over the symbol’s connection to racism. The Betsy Ross flag featured on the shoe, which was designed to commemorate 4 July, has been used by the American [...]
Bye bye Byers: Top Sports Direct executive leaves Mike Ashley’s firm July 2, 2019 A veteran executive at Mike Ashley’s Sports Direct is leaving the high street retailer after working at the firm for nearly three decades. One of the retail tycoon’s closest confidantes at the business, Karen Byers, is stepping down as a senior director with immediate effect. Read more: Sports Direct hits back at Goals Soccer Centres [...]
Bookies route £60m to fight problem gambling July 2, 2019 Five of the UK’s biggest bookies have committed to a tenfold increase in their contributions towards fighting gambling addiction. Bet 365, Flutter, GVC, Sky Betting and Gaming and William Hill said they signed a pledge this morning. It commits them to spend one per cent of their UK gross gambling yield promoting safer gambling. Read [...]
Office owner seeks restructure of £45m debt pile July 2, 2019 The owner of footwear store Office today confirmed it is in discussions to restructure £45m of debt at the retailer. South African outfit Truworths, which bought the UK high street giant for £250m in 2015, said it must pay a “significant portion” of the debt in a lump sum payment by December 2020. Read more: [...]
Footwear chain Office explores restructuring plans July 1, 2019 Office is exploring options for a restructuring plan that could see the footwear chain shutter a number of its UK stores. The retailer has appointed advisory firm Alvarez & Marsal to plan a potential company voluntary arrangement (CVA), Sky News reported. Read more: Landlords pick a fight with the CVA Sources told the broadcaster that [...]
Pret a Manger boss to retire as firm prepares for Eat merger July 1, 2019 Pret a Manger’s boss is to step down later this year, making way for the firm’s chief operating officer to lead the group as it prepares for a major tie-up with rival Eat. The sandwich chain’s boss Clive Schlee will retire in September after more than 15 years at the firm. Read more: Pret a [...]