UK retail scores “solid yet unspectacular” end to 2016 January 10, 2017 Retailers are bracing themselves for a possible slowdown in consumer spending this year, but the sector ended 2016 in (relatively) good health, thanks to a strong performance on Christmas week. Like-for-like sales in UK retail increased one per cent year-on-year in December 2016, according to figures from the British Retail Consortium (BRC) and KPMG, improving from a [...]
Online retailers including Asos and Boohoo set to be the winners of the festive season January 8, 2017 Retailers with a strong online offering are set to be some of the biggest winners of the festive season's trading, with analysts pencilling in sales jumps for Asos and Boohoo of 30 per cent and 46 per cent respectively. The City had been fearful that the festive period was a bloodbath for retailers after Next [...]
No tears for Boohoo as it nears $20m acquisition of US firm Nasty Gal’s assets December 28, 2016 Boohoo's share price rose this morning after the online fashion retailer announced it has initially agreed to snap up several assets from US group Nasty Gal for a cool $20m (£16.2m). Joint chief executives Mahmud Kamani and Carol Kane said the purchase agreement, which is Boohoo's second acquisition announced this month, is an "ideal next step" [...]
Boohoo’s share price surges as it picks up a two-thirds stake in PrettyLittleThing for £3.3m December 14, 2016 No tears over here: Boohoo's just acquired a majority stake in fellow online retailer PrettyLittleThing for £3.3m. Boohoo's chairman Peter Williams said PrettyLittleThing was a "natural fit" and would complement Boohoo's "inclusive and innovative" brand. We are delighted to add this fast growing, international business to the group. We believe this is an excellent opportunity to [...]
Boohoo upgrades forecast for the second time this year September 27, 2016 Online fashion retailer Boohoo upgraded its forecasts again today after announcing bumper sales growth and profits for the six months to the end of August. Boohoo upgraded its full-year sales guidance for the second time in two months. At the beginning of August, the online retailer upped its expected sales growth to between 28 per cent [...]
DFS’ share price jumps as the company upgrades full-year forecast August 11, 2016 DFS' share price was up over 13 per cent this morning after the company said its results for the full year would hit the top end of its expectations. "In light of second half of trading, the board expects DFS to deliver record performance for the full year with results towards the upper end of market [...]
Boohoo’s share price reaches an all-time high after it upgrades forecast August 9, 2016 Online fashion retailer Boohoo's share price climbed 5.47 per cent in early morning trading, reaching an all-time high of 78.68p, after the company revised its expectations for the year upwards. The board announced its results for the current year will be "above expectations", with sales growth between 28 per cent and 33 per cent – up from an anticipated [...]
Next’s share price is riding high after its trading update – but analysts’ reactions are a mixed bag August 3, 2016 The markets have responded positively to Next's second quarter update this morning, after the company announced sales were up 1.8 per cent so far this year – but analysts' reactions have been mixed. Augustin Eden, a research analyst at Accendo Markets said investors "shrugged off a disappointing trading update" as Next's share price rose after the [...]
Boohoo for Yahoo: Tech giant loses deal that generates $100m in annual revenue May 4, 2016 Yahoo has lost a major client, that brought it close to $100m in revenue annually, to tech company Synacor. AT&T is ending its 15-year-long partnership deal with Yahoo to host its website and other applications. According to the Wall Street Journal, most of the $100m Yahoo earned from the deal with AT&T was “pure profit”. [...]
Next widens and lowers full year guidance amid weaker demand for clothing and a slowdown in spending May 4, 2016 Next has widened and lowered its full year guidance on profits amid greater uncertainty in the retail sector, following its previous warning that the year ahead could be the worst since 2008. Presumably investors appreciated the heads up: Next's share price was up 2.5 per cent in early trading and as the day wore on [...]