Easyjet shares lose altitude on weaker passenger traffic outlook April 1, 2019 Easyjet was the biggest faller on the FTSE 100 today – closing down 9.7 per cent – after investors baulked at the low-cost carrier's 'cautious' outlook for the second half. Budget airline Easyjet said earlier today it is “more cautious” in its outlook for the second half of the year, blaming macroeconomic uncertainty and Brexit for [...]
Findel says it has backing of major shareholder in blow to Ashley bid April 1, 2019 Online shopping specialist Findel claimed today that it had the support of its second largest shareholder, as it looks to see off a takeover bid from Sports Direct. In the latest blow to retail tycoon Mike Ashley, the British home shopping company published a letter of support from Schroders, which controls an 18.85 per cent [...]
Philip Day steps back from race to buy collapsed high street shoe store LK Bennett March 31, 2019 Philip Day, the billionaire owner of retailer Edinburgh Woolen Mill, has removed himself from the competition to buy collapsed shoe seller LK Bennett. The retail tycoon had lodged a bid with administrators at EY, joining Sports Direct boss Mike Ashley, as well as Chinese fashion entrepreneur Rebecca Feng and former LK Bennett chief executive Darren [...]
Sports Direct calls on Debenhams shareholders to protest against financing deal March 30, 2019 Sports Direct has today called on Debenhams shareholders to protest against its latest funding deal that could see investors wiped out, and instead support Mike Ashley’s installation as chief executive. Sports Direct issued an announcement containing a link to a letter of protest which it encouraged shareholders to send to Debenhams. The statement said: “Sports [...]
Debenhams completes £200m funding round to blow Ashley bid out of the water March 29, 2019 Debenhams completed its £200m refinancing deal this morning, defeating a takeover bid by Sports Direct billionaire Mike Ashley. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The announcement sent shares up almost 30 per cent as the embattled retailer said shareholders remain in its plans. The move means the department [...]
Five retail tips for small businesses worried about Brexit March 29, 2019 So much of the political debate over Brexit has focused on the impact on big business. The banks, multinational drug companies, carmakers, and other corporate pressure groups have been leading the conversation. But Brexit also impacts the hundreds of thousands of small businesses that employ most Britons and are the heartbeat of the economy. Read [...]
Kingfisher makeover fails to impress March 29, 2019 | City Talk The Kingfisher makeover has yet to win over investors, with results from the B&Q owner showing why. There are signs of progress within the Kingfisher (LSE:KGF) transformation plan, but the retail environment remains fiercely competitive and will continue to move on as the company tries to put its own house in order. Unfortunately, any benefits [...]
H&M shares soar despite profit fall March 29, 2019 Shares in Swedish clothing retailer H&M soared today after it unveiled better-than-expected profit figures for the first quarter. Shares in the Stockholm-listed clothing giant jumped 12 per cent to hit 158 Swedish krona, despite a fall in profit. Pre-tax profit fell for the seventh straight quarter in the three months ending in February, sliding to [...]
‘No justice’: Mike Ashley voices anger as Debenhams thwarts his takeover bid March 29, 2019 Mike Ashley has railed against Debenhams’ move yesterday to thwart his takeover offer, saying “if there were any justice in the world the majority of the advisors would be put in prison”. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The billionaire owns a 30 per cent stake in the department [...]
Chinese offer comes in for LK Bennett days before administrators set to finalise deal March 28, 2019 A Chinese firm which supplies retailer LK Bennett has weighed in on the fight to buy the chain from administrators, as hopes grow the majority of its workers will retain their jobs. Byland UK, a newly incorporated company, has been set up with the objective of buying LK Bennett, Sky reported. Read more: Footwear chain [...]