Superdry founder ramps up pressure on board after saying he has City backing March 26, 2019 Superdry co-founder Julian Dunkerton insists he has the backing of key City investors for his audacious bid to reinstall himself on the board of the troubled fashion chain he left last year, striking a defiant tone in the face of recent opposition from a leading shareholder advisory group. "We’ve had a very positive response from [...]
US consumer confidence falls as worries about the economy mount March 26, 2019 US consumer confidence declined in March following an increase in February, the latest data has shown, as Americans raise concerns about the economy The widely-watched consumer confidence index, released today by US business research group The Conference Board, now stands at 124.1, down from 131.4 in February. Read more: Fed slows balance sheet reduction and holds [...]
Domino’s to shake-up top team amid ongoing row with franchisees March 26, 2019 Domino’s Pizza is preparing to replace three of its most senior executives amid a damaging row with franchise holders, it emerged today. The chain said it is succession planning for chief executive David Wild, chairman Stephen Hemsley and senior independent non-executive Helen Keays. Read more: Domino's Pizza hits back at reports it misled the City [...]
Fevertree profits fizz despite UK sugar tax hit to margins March 26, 2019 The glass was half full at Fevertree today as it reported a surge in profits and revenue for 2018. Read more: Fevertree sales fizz as tonic maker cheers bumper summer The figures Profit after tax rose 26 per cent year on year to £61.8m in 2018, even as the profit margin was squeezed almost two [...]
Ocado strikes factory deal with Australian grocer Coles a month after £1.5bn Marks & Spencer tie-up March 26, 2019 Ocado has agreed a deal to provide two robot-operated fulfillment centres for Australian grocer Coles Online, as it doubles down on its growing role as a retail technology supplier. Read more: Ocado shares burn after 48-hour blaze at robotics centre The online supermarket will build and operate the customer fulfillment centres in Sydney and Melbourne, [...]
Moss Bros wipes out dividend as it swings to a loss after ‘extremely challenging’ year March 26, 2019 Historic men’s tailoring firm Moss Bros moved into the red this morning, blaming a turbulent trading environment for its first losses in almost a decade. Shares tumbled more than five per cent in early morning trading. Read more: Joules boss Colin Porter to take on role as Moss Bros chairman The figures In its preliminary [...]
Debenhams shares soar as Mike Ashley’s Sports Direct considers offer March 26, 2019 Debenhams has doubled down on its major restructuring strategy this morning, saying that it will continue with its plan to obtain funding hours after Sports Direct revealed it was mulling a bid for the embattled department store chain. Read more: Sports Direct mulls cash offer for Debenhams Last night Mike Ashley’s sportswear firm said that [...]
Irn-Bru maker AG Barr sees revenues edge up March 26, 2019 Irn-Bru maker AG Barr revealed a modest bump in annual profits and revenues this morning, shrugging off challenges from a new sugar tax and CO2 shortages but forecasting continued uncertainty in the months ahead. The figures In its full-year results this morning, the FTSE 250 soft drinks manufacturer said that revenue grew by 5.6 per [...]
John Lewis tumbles down UK top employer rankings March 26, 2019 John Lewis and Partners has lost its crown as Britain’s top employer following a tough 2018 that saw its profits drop by 45 per cent, according to a yearly survey released today. Read more: John Lewis profits plummet 45 per cent in ‘challenging’ market Wren Kitchens now tops the list of UK employers as ranked [...]
Sports Direct mulls cash offer for Debenhams as Ashley looks to seize control March 25, 2019 Sports Direct has said it is considering a bid for Debenhams just hours after owner Mike Ashley branded the troubled department store’s rescue plan “unworkable”. The retail tycoon’s firm said in a statement after close this evening it was weighing up an offer for the firm “alongside other options”. It said the bid would likely [...]