Clash of Clans maker Supercell reports second consecutive year of falling profits February 12, 2019 Mobile gaming firm Supercell has posted falling sales and profits for a second year running, reporting a 26 per cent drop in income as its bestselling titles fail to age gracefully. The Finnish firm, which was the brains behind viral iPhone games Clash of Clans and Clash Royale, was last valued at $10bn (£7.8bn) in 2016 [...]
London’s iconic department store Liberty ‘seeks £300m sale’ February 12, 2019 London retail landmark Liberty department store could be set for new ownership for the first time in nearly 10 years. Its largest shareholder, private equity firm Bluegem Capital Partners, has reportedly hired UBS to look into potential buyers for the business. Read more: West End property giant Shaftesbury posts 'resilient' retail demand The company, which [...]
Gucci shrugs off China troubles after trumping sales estimates February 12, 2019 Kering’s flagship Gucci brand became the latest in a swathe of luxury retail names to buck fears of a slowdown in demand from Chinese shoppers today, after the Italian label trumped sales expectations for the final quarter of 2018. Outperforming many of its peers in the fourth quarter of last year, Kering posted a 23.3 per [...]
Ebay’s acquisition of Motors.co.uk gets the green light from UK competition watchdog February 12, 2019 Ebay's acquisition of car search business Motors.co.uk has been given the all-clear by the Competition and Markets Authority (CMA). The deal, first announced in October, last year, will see Ebay merge Motors.co.uk with its other consumer-facing car sales business Gumtree Motors. The CMA said at the time of launching its probe in December that it [...]
Tui losses widen as summer heatwave and falling pound take their toll February 12, 2019 Blue-chip travel giant Tui today posted widening losses for the final three months of last year, as a summer heatwave and a fall in the value of the pound dented demand for the firm’s crucial Northern Europe market. The figures The UK-based holiday operator’s underlying losses in the quarter to 31 December were €83.6m, plunging from €36.7m [...]
Plus500 shares plunge 30 per cent as broker warns of 2019 earnings hit February 12, 2019 Plus500's share price collapsed in early trading despite almost doubling profits in 2018, as it issued a major profit warning for the current year. The online broker's stock fell by as much as 36 per cent in early trading, from 1,635p at yesterday's close to 1,053p this morning, as it warned that stricter regulations will [...]
Debenhams secures £40m cash lifeline in fight for survival February 12, 2019 Embattled department store chain Debenhams saw its shares jump 35 per cent this morning after it secured a £40m cash injection, as it fights to keep afloat amid crunch debt talks with lenders. The retailer, which has issued three profit warnings in the last 12 months, said that the agreed £40m loan will "act as a bridge to facilitate a [...]
Dwindling cash points spark joint campaign to protect access to physical money February 12, 2019 Small businesses and consumers have teamed up to rail against dwindling access to physical cash, in the wake of a glut of ATM closures last year. Figures from consumer magazine Which show more than 2,500 cash points were lost in the second half of 2018, while 3,000 bank branches have shut since 2015. Read more: [...]
Simba Sleep slashes valuation as it looks for cash in fundraising jungle February 11, 2019 Mattress website Simba sleep has been forced to slash its valuation for the second time as it looks to raise more cash in an “increasingly challenging” environment. The company has faced issues after shares fell over 90 per cent in listed rival Eve Sleep last year. Read more: Eve Sleep shares dive after investors buy for [...]
To buy or not to buy: The never-ending twists in Mike Ashley’s retail plan February 11, 2019 What on earth is Mike Ashley’s plan? That is the question echoing around the City every time the retail tycoon emerges as an unlikely buyer of another beleaguered high street brand. It is almost a weekly occurrence these days, and one that leaves journalists, shareholders, and even some of Ashley’s own directors scratching their heads [...]