Superdry appoints interim finance chief after boardroom exodus May 22, 2019 Superdry has appointed a new interim finance chief after the return of founder Julian Dunkerton sparked a mass exodus from the board. Nick Gresham, the current chief financial officer of sports and cycling retailer Wiggle, will join the company on 3 June, succeeding Ed Baker who resigned in April after investors narrowly voted in favour [...]
Pets At Home shares rise as profits plummet almost 40 per cent amid restructure plan May 22, 2019 Pets At Home saw profits plunge almost 40 per cent last year as it set aside more than £40m for a huge restructure programme, it revealed today, but the set of results still beat low market expectations to send shares climbing. Read more: Short sellers tailing off at Pets at Home The figures Profit before tax [...]
Marks & Spencer shares fall as profits decimated amid restructuring efforts May 22, 2019 Profit before tax at retailer Marks & Spencer fell nearly ten per cent in the last financial year, it said today as it announced plans to close 85 stores. The figures M&S said profit before tax for the year to 31 March was £532.2m, down 9.9 per cent from £580.9m the previous year. Revenue fell [...]
Around 1,000 jobs lost as Jamie Oliver’s restaurant business collapses May 21, 2019 Around 1,000 workers have been made redundant after celebrity chef Jamie Oliver's restaurant chain collapsed into administration following failed attempts to secure additional investment. Jamie's Italian has appointed KPMG as administrators, the company confirmed today, and 23 of the brand's 25 sites have closed. Read more: Shell's kitchen: Jamie Oliver launches petrol station food range HSBC, which is the company's main [...]
Watches of Switzerland targets £660m London listing May 21, 2019 Luxury retailer Watches of Switzerland said today it is targeting a London float that could hit a valuation of £660m. The company sells luxury watch brands such as Rolex, Patek Philippe, Cartier and Hublot. Read more: Jaguar sues watchmaker Christopher Ward over D-Type watches It has 125 shops in the UK and 21 in the [...]
Profit slips nearly 20 per cent at Topps Tiles in first half May 21, 2019 Topps Tiles said profit before tax fell nearly 20 per cent in the first half of its financial year. The specialist tile retailer said revenue slipped 0.2 per cent to £110.3m and profit before tax fell 18.8 per cent to £5.2m. Basic earnings per share fell 24 per cent to 2.03p. Read more: Topps Tiles recovers [...]
Profit falls steeply at Halfords in face of ‘fragile’ consumer confidence May 21, 2019 Halfords said profit before tax fell 24 per cent in 2019 to £51m. The figures The company said revenue remained broadly flat on £1.138bn, but profit fell sharply. It said underlying profit before tax fell 17.9 per cent to £58.8m, with underlying basic earnings per share down 17.2 per cent on 24.5p. Read more: Halfords share [...]
Falling rents help Shoe Zone walk to a profit in tough time for high street May 21, 2019 Falling rents helped UK value footwear retailer Shoe Zone hold steady in its interim half-year results, released today, in a tough trading environment. Read more: Shoe Zone shares soar as retailer posts record profits The figures The company’s profit before tax rose marginally to £1m in the half year ended 30 March. Shoe Zone’s revenue [...]
WH Smith chief executive to leave in October May 21, 2019 The boss of WH Smith is set to step down later this year after 15 years with the British retailer. Stephen Clarke will leave the role of chief executive at the end of October to be replaced by Carl Cowling, the managing director of the firm’s high street business, at the start of November. Read [...]
Thomas Cook forced to reassure holidaymakers as shares plummet further May 20, 2019 Thomas Cook has been reassuring customers their holidays will be going ahead after shares in the struggling travel firm plunged lower today. Shares in Thomas Cook dropped as much as 17 per cent to less than 10p, having suffered a 40 per cent plummet on Friday. Read more: Payment firm to hold onto Thomas Cook's [...]