Thomas Cook shares hit record low amid £750m takeover talks with Fosun July 12, 2019 Thomas Cook’s shares sunk to their lowest price ever this morning as it confirmed it is in advanced talks with Fosun over a proposed £750m deal which would give the Chinese firm majority ownership over its tour operator business. Read more: Thomas Cook engages in Fosun talks to save company The deal would also give [...]
Revenue rockets 27 per cent at The Gym Group July 12, 2019 The Gym Group has posted a 27 per cent leap in revenue to £74m for the first six months of 2019. Read more: The Gym Group gets in shape with revenue and profit boost The contract-free low-cost gym operator also grew membership numbers by 10.6 per cent to 796,000 up to 30 June. Eight new [...]
Thomas Cook nears rescue deal with China’s Fosun July 12, 2019 Thomas Cook is preparing to announce today it is nearing a rescue deal that will include selling off its tour operating arm to the Chinese owner of Club Med. The package holiday group is set to reveal this morning that it is close to reaching an agreement with Fosun Tourism Group and its lenders which [...]
DFS share price falls as it warns investors of ‘volatile’ political backdrop July 11, 2019 DFS posted strong sales growth for its latest financial year today but also warned future earnings could suffer from uncertain economic outlook. Read more: DFS doubles profit but warns of ‘challenging’ 2019 The sofa giant revealed that online sales growth hit 17 per cent in the 12 months to the end of June, with underlying [...]
Norwegian Air boss quits as airline reels from 737 Max groundings July 11, 2019 Norwegian Air’s longstanding chief executive Bjorn Kjos has quit the top job, amid warnings the struggling carrier’s full-year results will take a hit from the Boeing 737 Max grounding. Chairman Niels Smedegaard this morning hailed Kjos, 72, as “one of the most influential European entrepreneurs of our time”. He will continue at the firm, which [...]
Dixons Carphone executives delay bonuses July 10, 2019 Dixons Carphone executives have agreed to defer their annual bonuses as their turnaround plan has not lifted the company’s share price. Chief executive Alex Baldock and finance chief Jonny Mason requested that the payments are made in shares and are delayed for two years. Read more: Dixons Carphone shares plunge further as hefty loss rattles [...]
Philip Day on track to delist Bonmarche as Artemis sells July 10, 2019 Billionaire Philip Day is on track to take embattled retailer Bonmarche private after Artemis, the firm’s last major institutional investor, sold its stake. Artemis has offloaded its 12 per cent stake in the business to Spectre, Day’s Dubai-based holding company. Read more: Bonmarche makes dramatic U-turn on takeover bid The transaction brings Day’s stake up [...]
Superdry hires headhunters to replace interim CEO Julian Dunkerton July 10, 2019 Superdry has appointed headhunters to hire a new chief executive to replace interim boss and co-founder Julian Dunkerton. The embattled fashion retailer said today that Dunkerton, who made a dramatic return to the company earlier this year following a bitter boardroom battle, would remain closely involved in the firm. Read more: Superdry slips to a [...]
Pub regulator investigates Heineken pub arm over ‘unreasonable stocking terms’ on landlords July 10, 2019 Britain’s pub regulator is investigating Heineken’s pub arm over whether it coerced landlords to sell the its beer against their will. In a landmark case, Pubs Code Adjudicator (PCA) Paul Newby is looking into the actions of Star Pubs and Bars, which the Dutch company owns. Read more: Pub regulator investigates Heineken pub arm over [...]
Dunelm set to hit higher end of profit range amid sales rise July 10, 2019 British homewares retailing giant Dunelm has forecasted today that its annual profit will be at the higher end of its range, raising its expectations on the back of improved sales. Management has said that full-year profit before tax will be at the upper end of the £124m – £126 range announced last month. Total like-for-like [...]