ASOS and Bonmarche in share price collapse March 25, 2019 | City Talk By Graeme Evans from interactive investor. Investors in these two high-profile retailers ran for the hills following the latest trading updates. While ASOS (LSE:ASC) and Bonmarche (LSE:BON) operate in two very different retail worlds, the pair have plenty in common from an investor viewpoint after their December profit warnings were followed by more disappointment last [...]
‘Fat finger’ causes share drop at LVMH Moet Hennessy Louis Vuitton March 25, 2019 Luxury fashion house LVMH Moet Hennessy Louis Vuitton suffered a shock dip in its share price early this morning, with investors suspecting a computer slip-up known as the ‘fat finger’ for the drop. LVMH’s share price sunk to its lowest levels in more than a month at the opening bell, tumbling almost nine per cent. [...]
Kodak shows how to compete with startups if you’re a heritage brand March 25, 2019 The digitalisation of our world has given with one hand and taken away with the other. It has created opportunities for new companies, and made household names such as Amstrad computers and Woolworths entirely redundant. Technological advancements have facilitated the emergence of startups that thrive on disrupting traditional business models. However, the decline of established [...]
Debenhams shares fluctuate after Sports Direct’s Mike Ashley brands restructuring plan ‘unworkable’ March 25, 2019 Shares in Debenhams suffered from volatility this morning after Sports Direct owner Mike Ashley branded the troubled department store’s rescue plan "unworkable". Read more: Debenhams flags 'obvious concerns' with Ashley's £100m CEO bid Shares in the troubled high street giant dropped 24.5 per cent from 1.59p to 1.2p before rising to stand eight per cent [...]
Stores at risk as Majestic Wine plans ‘Naked’ rebrand March 25, 2019 The UK’s largest specialist wine retailer is to close stores and undergo a major rebranding, it revealed this morning, sending shares down in early morning trading. Read more: Regal results for Majestic Wine despite UK retail headwinds Majestic Wine has announced plans to shut a number of stores and rename itself under the "Naked Wine" brand [...]
Drinks giant AB InBev rebrands as Budweiser Brewing Group UK&I March 25, 2019 Beer behemoth AB InBev has changed its UK name to Budweiser Brewing Group UK&I as it doubles down on its commitment to the region after Brexit. The world’s biggest brewer, whose brands include Budweiser and Stella Artois, said the more recognisable name will boost awareness of the company and marks the firm’s latest show of [...]
London tourism industry pivots to long-haul markets in the face of Brexit March 24, 2019 Buckingham Palace, Big Ben, the royal family: London is blessed with renowned attractions wrapped in tradition and heritage most cities can only dream of. But with Brexit looming, the UK tourism industry, which supports more than one tenth of the country’s jobs, has hit turbulence. Almost every industry representative I spoke with used the [...]
Ladbrokes chairman to step down after selling thousands of shares March 22, 2019 Ladbrokes's parent company is on the lookout for a new chairman weeks after the incumbent angered investors by selling £6m in shares. Lee Feldman, who has chaired GVC Holdings since 2008, is close to leaving after new rules limiting the term of chairmen to nine years, the company has confirmed to City A.M. Read more: GVC [...]
Debenhams flags ‘obvious concerns’ over £100m bid to make Mike Ashley CEO March 22, 2019 Debenhams has turned down Sports Direct's offer to buy its Danish business with the condition that Mike Ashley oust current boss Sergio Bucher to become the company's chief executive. Earlier today Sports Direct made a £100m offer for Magasin du Nord and claimed it would help the company's liquidity, while also giving Debenhams the freedom to buy it [...]
Asda and Sainsbury’s propose selling 150 stores to save merger March 22, 2019 Asda and Sainsbury's have offered to sell up to 150 supermarkets and several convenience stores in a bid to save their proposed merger. Read more: Sainsbury's and Asda double down on £1bn price cut pledge to salvage deal The supermarkets promised they could divest between 125 and 150 supermarkets and "a number" of the convenience stores in [...]