Online gambling firm 888 grows profits after year of strong expansion March 12, 2019 Online gambling firm 888 has posted double-digit growth in profit before tax for the full year, despite a small decline in revenue. The figures Adjusted profit before tax increased 11 per cent to $86.7m (£65.6m). Revenue declined by two per cent to $529.9m. Adjusted earnings before interest, tax, depreciation and amortisation was up six per cent [...]
Sales fall again at fashion retailer French Connection as it signals modest return to profit March 12, 2019 Like-for-like sales fell again at French Connection over 2018 despite posting a modest return to profit in what it called a “tough” retail trading environment. Read more: French Connection shares rocket as it looks for a buyer The figures While the struggling retailer saw a return to underlying profit of £0.1m for the year to the end [...]
Luxury retailer Farfetch to merge Chinese business with JD.com March 11, 2019 Luxury fashion retailer Farfetch will merge its China sales platform with ecommerce giant JD.com before the end of the year as it looks to cash in on growing demand for luxury goods in the country. The merger, first announced last month, comes after the London-based firm bought Toplife, JD.com’s luxury fashion venture. Read more: Chinese [...]
Britvic installs Tesco finance guru as new chief financial officer March 11, 2019 Soft drinks giant Britvic has brought in the financial boss of a firm which is part of Tesco as its chief financial officer, in a move which pushed shares up one per cent on Monday morning. The company, which acts as Pepsico’s producer in the UK, has appointed Joanne Wilson, who will leave her role as [...]
Anabel Kingsley on taking on her late father’s celeb-loved hair business March 11, 2019 When I arrive at the address, I have to double-check that I’m at the right place. The Philip Kingsley clinic in Mayfair is pretty inconspicuous – from the outside, it’s just an ordinary Victorian terraced house. But this is part of its charm, and probably ideal for the privacy of the clinic’s celebrity customers. The [...]
Debenhams strikes back against Mike Ashley with ‘advanced’ plans to raise £110m March 11, 2019 Debenhams said “advanced negotiations” are underway to secure up to £150m in loans to keep it alive this morning, as it fights back against Mike Ashley’s bid to oust the board. The struggling retailer said the £40m bridging loan it secured in early February comprises part of this sum, but that it is seeking to [...]
Superdry urges investors to vote against founder Julian Dunkerton’s return March 11, 2019 Superdry will hold a shareholder meeting on 2 April to vote on the reinstatement of Julian Dunkerton after months of rising tensions between the founder and the board. The fashion retailer confirmed the meeting in a circular sent to shareholders this morning, but urged them to vote against the reappointment of Dunkerton. Read more: Hundreds of [...]
Audiobook popularity soars as sales increase 13 per cent March 11, 2019 The popularity of audiobooks has continued to soar as sales of the format grew 13 per cent last year. Sales of audiobooks have increased 87 per cent since 2014, according to research by Nielsen Book, and they now account for five per cent of all book purchases after doubling their share of fiction sales. Read [...]
February retail footfall hits five-year low March 11, 2019 Retail footfall dropped by two per cent last month, making 2019 the weakest February for footfall in five years, according to research published this morning. February saw the 15 consecutive month of footfall decline, and suffered a deeper plunge than the previous year when footfall was down 0.2 per cent, British Retail Consortium (BRC) and Springboard [...]
Klarna rival Laybuy partners with Footasylum in UK launch March 10, 2019 Klarna rival Laybuy, which offers a “buy now, pay later” service, has launched in the UK today in a partnership with shoe shop Footasylum. Online Footasylum customers will be given the option to pay using Laybuy from today, and it will be rolled out in the brand’s 70 high street stores later this year. Read [...]