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 [...]
Mike Ashley’s Sports Direct makes official £139m offer for Findel March 19, 2019 Sports Direct has made an official bid for home shopping firm Findel as it sent out an offer document to shareholders. The company, which is currently the firm’s largest shareholder, has offered to buy the rest of Findel’s stock for 161p per share. Read more: Debenhams pressure mounts amid Sports Direct comments Earlier this month [...]
ScS boosts sales as it warns on ‘challenging’ Brexit retail environment March 19, 2019 Furniture and floorings retailer ScS bucked the retail industry's downward trend by boosting revenue with an online sales push and a move towards lower-priced furniture in its half-year results today. The figures Revenue rose 1.1 per cent year on year to £151.4m in the six months to the end of January. Gross sales increased 1.2 percent [...]
Jim Ratcliffe’s Ineos buys Team Sky, securing future of Britain’s most successful road cycling team March 19, 2019 Jim Ratcliffe’s chemicals giant Ineos has bought Britain’s most successful road cycling team in recent years, Team Sky. The industrial firm, owned by Britain’s richest man Ratcliffe, will rename the cycling organisation Team Ineos when it takes over on 1 May. Read more: Ineos takes over US white pigment producer in $700m deal Tour Racing [...]
Stationery chain Office Outlet falls into administration March 19, 2019 Office Outlet, the stationery retailer formerly belonging to Staples, has collapsed into administration, putting 1,000 jobs at risk. In the latest sign of industry stress on Britain's high streets, the retailer yesterday drafted in administrators from accountancy firm Deloitte, throwing the future of 1,000 jobs and 90 stores into doubt. The stationary giant approved a controversial restructuring [...]