Next sees ‘no evidence’ for Brexit hurting sales despite profit dip as it warns of ‘challenging’ 2019 March 21, 2019 Profits slipped at Next last year, the high street stalwart said today as it warned the outlook for the high street will remain “challenging” in 2019. However, it said Brexit is not a factor, with boss Lord Simon Wolfson saying there is “no evidence that this uncertainty is affecting consumer behaviour”. Read more: Next shares [...]
Profits plunge 26 per cent at Ted Baker after ‘difficult’ year March 21, 2019 Profits fell at Ted Baker last year for the first time since the financial crisis as the company faced “very difficult trading conditions” in a year when harassment claims dogged its chief executive. The figures Profits before tax at the menswear retailer dropped by 26 per cent to £51m even as revenue increased 4.4 per [...]
Starbucks delivery expands across central London while company continues green push March 20, 2019 Coffee drinkers across central London will be able to get their daily caffeine fix delivered straight to the office as Starbucks expands its delivery trials and starts tests of new greener cups in the capital, the company announced today. The coffee chain trialled Starbucks Delivers, its collaboration with Uber Eats, in parts of London last [...]
Superdry co-founder Julian Dunkerton ‘disappointed’ after shareholder advisory opposes motion to rejoin the board March 20, 2019 Superdry co-founder and former chief executive Julian Dunkerton said he was "disappointed" after an influential shareholder advisory firm recommended that investors block his reinstatement to the board. Last night it emerged that Institutional Shareholder Services (ISS) had warned investors that Dunkerton was partly to blame for the issues facing the struggling brand. Read more: Shareholder adviser opposes [...]
Wildwood restaurant owner Tasty shares plunge as it warns further site closures on the way March 20, 2019 Shares in Wildwood restaurant owner Tasty plunged this morning as the company warned that it may be forced to make further closures this year after shuttering eight underperforming sites. The figures Shares plummeted more than 17 per cent as the restaurant group posted dismal full-year results for 2018, blaming challenges in the casual dining sector as [...]
Ten Entertainment to target London in bowling alley expansion plan March 20, 2019 Ten Entertainment is targeting expansion within London as the bowling alley chain looks to increase its presence within city centres. The owner of the Tenpin brand is considering establishing a presence in urban areas in a move away from its traditional focus on out-of-town retail parks, chief executive Duncan Garrood told City A.M. Read more: [...]
Hermes bags profit boost as demand from Asia drives surge in sales March 20, 2019 Luxury bag maker Hermes has posted double-digit profit growth for the full year as rising demand in Asia helped boost sales across all business lines. Read more: Asos confident on full-year targets despite 'challenging' markets The figures Hermes’ net profit rose 15 per cent to €1.4bn (£1.2bn). Consolidated revenue was up 7.5 per cent to [...]
B&Q owner Kingfisher’s boss to depart as profits slump and stores close March 20, 2019 Kingfisher announced the surprise departure of its chief executive this morning, as a swathe of store closures and a double-digit drop in profits puts mounting pressure on the embattled DIY group. Read more: B&Q owner Kingfisher plans foreign market exit as French sales drag Veronique Laury, who is currently one of six female chief executives in the [...]
Findel urges shareholders to take no action following Sports Direct offer March 20, 2019 Home shopping firm Findel has urged shareholders to take no action following a £139m offer by Mike Ashley’s Sports Direct. The board rejected the bid and said Sport Direct’s offer of 161p for each Findel share “significantly undervalues” the company. Read more: Mike Ashley's Sports Direct makes official £139m offer for Findel In a statement [...]
Shareholder advisory firm opposes Superdry co-founder’s bid to return to board March 19, 2019 Influential shareholder advisory firm ISS has recommended Superdry investors vote against co-founder and former chief executive Julian Dunkerton’s reinstatement to the board. ISS also urged shareholders to oppose the appointment of Dunkerton’s ally and Boohoo chairman Peter Williams to the board at a meeting on 2 April. Read more: Superdry ‘supercharged’: Founder unveils bid for [...]