Footasylum shares rocket as JD Sports snaps up stake in retailer February 18, 2019 Footasylum's share price surged 81 per cent this morning after JD Sports bought up an 8.3 per cent stake in the embattled retailer. Footasylum's share price soared to 52.5p, up from a 29p close on Friday as it recovered from lows last month when the firm warned over challenges to its full-year earnings. While JD Sports said [...]
Reeling in the sales: Angling Direct posts surging revenue on back of international growth February 18, 2019 The UK’s largest fishing equipment retailer said this morning that it was forecasting a spike in full-year revenue, as the group ramped up its online operations and enjoyed a bump in sales from anglers in Germany, Russia and France. Angling Direct is expecting to post revenues of £42m for the 12 months to the end [...]
DEBATE: Should the government be intervening to help struggling high streets? February 18, 2019 Should the government be intervening to help struggling high streets? Rupert Pick, co-founder of Hot Pickle, says YES. There’s more to the high street than just shopping. It’s about belonging, human interaction, community. And in a muddled, pre-Brexit, polarised, insular environment, we need vibrant public places more than ever for people to congregate. Yet, in the [...]
Children’s ‘killer car seats’ found for sale online even though they’re illegal February 16, 2019 Children's car seats that were made illegal in the UK in 2014 have been found for sale online according to consumer group, Which. The illegal car seats offer "almost no protection" and were found to fail to protect children in car crashes as slow as 30mph after a crash test carried out by Surrey Trading Standards [...]
Plus500 shares plummet for second successive day after revelations of accounting error February 15, 2019 Plus500's share price suffered a second day of decline after it admitted a $103m accounting error which may have misled investors. Shares fell to a 13-month low on reports that investors may have been misled by the firm's 2017 annual accounts, which stated it suffered no losses from client trading. Plus500 today admitted that was a "drafting error" and [...]
LK Bennett founder weighs up future options February 15, 2019 Upmarket women’s footwear retailer LK Bennett has reportedly hired advisers to conduct a strategic review of the business, in a move that could potentially lead to the firm being sold. Founder Linda Bennett, who bought back the business in 2017, has drafted in consultancy firm AlixPartners to weigh up the firm’s future options, according to [...]
Pepsico issues full-year profit warning as it ramps up spending February 15, 2019 Pepsico has forecast a drop in full-year profit after spending heavily on marketing and the development of new products as it vies to steal market share from rival Coca-Cola. Read more: Coca-Cola bottler core profits fizz The cola company has increased advertising for its products, which include Pepsi, Diet Pepsi and Mountain Dew, and has been pushing [...]
London Fashion Week to bring £600m of sales to the West End February 15, 2019 London Fashion Week is expected to bring a £600m windfall to the West End, in what is set to be a crucial boon for the capital’s shopping district at a time on mounting pressure for its retailers. A combination of fashion fans and foreign tourists are set to descend on the West End during February [...]
Millennium & Copthorne warns of ‘challenging’ 2019 as profits plummet 28 per cent February 15, 2019 Millennium & Copthorne warned today that it anticipates a challenging 2019 as it revealed that profits fell 28 per cent last year. The figures In its full year results, the hotel company reported that profit before tax for 2018 fell 28 per cent to £106m in 2018, down from 2017's total of £147m. Revenue also slipped [...]
Better-than-expected January sales buck retail fears as discounts lure in shoppers February 15, 2019 Retail sales beat expectations in January, as shoppers seized on New-Year deals despite a wider slowdown in spending amid political uncertainty. According to new Office for National Statistics (ONS) figures which buck a recent trend of gloomy retail surveys, month-to-month sales volumes in the sector climbed one per cent during January, trumping consensus estimates of [...]