Gambling firms fork out £19.6m in record year for fines June 27, 2019 UK gambling firms paid out a record £19.6m in penalties last year for failing to protect problem gamblers and crack down on money laundering. The largest fine was handed down to online gambling firm Daub Alderney, which was ordered to pay £7.1m for falling foul of strict rules laid out by the gambling watchdog. Read [...]
Greene King posts robust sales growth despite fall in profit after summer washout June 27, 2019 Pub chain operator Greene King has posted a robust rise in sales for the full year, despite a slump in profit and the impact of unseasonable weather in the first eight weeks. The figures Group revenue rose 1.8 per cent to £2.2bn in the 52 weeks to the end of April. Pre-tax profit dropped 12.5 [...]
H&M shares rise after spike in summer sales June 27, 2019 Shares in H&M jumped ten per cent this morning after the Swedish fashion group reported that summer collection sales were up. H&M, which is the world’s second biggest fashion retailer after Zara owner Inditex, said that sales in June rose 12 per cent, beating analyst expectations. Read more: H&M shares soar despite profit fall Sales [...]
Pendragon CEO leaves after just three months in charge June 27, 2019 Car dealership Pendragon’s chief executive is stepping down less than three months into the job. Read more: Pendragon shares crash on ‘accelerating’ losses Mark Herbert will quit his post as CEO on 30 June by mutual agreement with the board, the firm advised today. Herbert, who only joined the company in April, was called a [...]
Superdry delays results after issuing profit warning June 27, 2019 Struggling retailer Superdry has delayed the publication of its full-year results after issuing a profit warning and undergoing recent management changes. The company’s results will be released on 10 July, six days later than originally planned due to the “complexity” of lease and store impairment charges in the accounts. Read more: Superdry appoints interim finance [...]
B&Q owner Kingfisher appoints Carrefour exec as new boss June 27, 2019 B&Q owner Kingfisher today said it has appointed Thierry Garnier as its new chief executive as the home improvement chain looks to turn around its ailing fortunes. Garnier, who has held senior roles at French retail giant Carrefour over the last 20 years, will join the DIY group in the autumn. Read more: B&Q owner [...]
Bonmarche shares plunge 25 per cent as it U-turns on Philip Day bid June 26, 2019 Shares in Bonmarche plunged more than 25 per cent after the retailer reversed its view on a cut-price takeover offer from billionaire Philip Day due to poor trading in the first quarter. In a dramatic U-turn the French-themed womenswear chain said it now believes Day’s offer is “fair and reasonable”, and urged shareholders to accept [...]
Retailer Bathstore collapses into administration as jobs hang on the line June 26, 2019 Bathstore, the UK’s largest specialist bathroom retailer, has collapsed into administration this afternoon. The future for more than 500 jobs and roughly 135 stores lies in doubt as administrators said today they are looking to sell the business. Ryan Grant and Tony Nygate of BDO’s restructuring unit have been appointed joint administrations. BDO business restructuring [...]
Pizza Express losses widen amid strain on casual dining sector June 26, 2019 Pizza Express has reported hefty losses for the full year as it battles with increased competition in the casual dining sector. The restaurant chain posted a loss of £55.8m in 2018, an increase of more than 40 per cent from £31.6m the previous year. Read more: China expansion and UK troubles take slice out of [...]
Why ASOS just dived to a multi-month low June 26, 2019 | City Talk By Graeme Evans from interactive investor. With an impressive recovery in 2019 unwinding in spectacular fashion, how far will the shares fall? A downgrade for ASOS (LSE:ASC) shares yesterday flagged margin pressures as the former high-flying stock attempts to drive global expansion in the face of fast-fashion rivals including Boohoo (LSE:BOO). The note from UBS analyst Olivia Townsend suggests that recent [...]