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 [...]
No tears for Boohoo as profits and revenues soar April 26, 2016 Boohoo has reported a surge in profits and revenues for the full year as the fashion etailer woos even more customers worldwide. But clearly investors were hoping for more – Boohoo's share price fell 3.7 per cent on the open. The figures Revenues were up 40 per cent in the year to 29 February, climbing to [...]
Week ahead: Brexit expected to knock GDP and earnings April 25, 2016 Concerns over Britain leaving the European Union are expected to have weighed on gross domestic product (GDP) over the first quarter of 2016. Economists are expecting to see growth cooled to 0.4 per cent in the last three months, when the latest numbers are released on Wednesday. In the fourth quarter of last year the [...]
Missguided website crash: 50pc off sales causes technical problems for online retailer and leaves customers unable to complete orders March 14, 2016 The website of online retailer Missguided has suffered technical problems after announcing a sale leaving many of its customers unable to complete orders. An offer for 50 per cent off appears to have left the retailer, which counts Asos and Boohoo.com among its rivals, struggling to cope. Shoppers turned to Twitter to express their disappointment and frustration [...]
Top shareholder Old Mutual backs Sainsbury’s bid for Home Retail Group February 3, 2016 One of Home Retail Group's top shareholders has publicly backed Sainsbury's £1.3bn cash and shares offer for the Argos-owner, despite previously calling for a bid of at least 200p per share. Old Mutual, which owns a 3.6 per cent stake in Home Retail, making it the retailer's third largest shareholder, said it regards the latest offer by Sainsbury's [...]
Supermarket bosses have nowhere to hide January 13, 2016 Who said there’s blood on the high street? Retail stocks rose well into green territory yesterday, Morrisons up nine per cent and Debenhams a whopping 16 per cent higher, after both reported a jump in like-for-like sales. Defying City expectations, the pair of troubled FTSE-250 outlets remind us that retail should not be viewed as an [...]
Boohoo’s share price climbs as it ups guidance after sales soar January 12, 2016 Boohoo has raised its revenue guidance for the financial year as its sales soared 45 per cent in the four months to 31 December. The figures Boohoo has had a very strong period, with revenues up 45 per cent in the UK, 33 per cent in Europe and 52 per cent in the rest of the [...]
Northern Powerhouse: The North’s digital economy is booming but needs more infrastructure spending December 23, 2015 This year has seen the potential of the Northern Powerhouse truly realised and our digital sector sits at the beating heart of this agenda. The North’s digital economy is booming. It employs over 170,000 people and there has been a 57 per cent rise in new digital companies over the past three years. The UK’s [...]
Best of the Brokers for 22 December 2015 December 22, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BOOHOO.COM As the end of 2015 approaches, fast-fashion retailer Boohoo will be celebrating its first full year as a listed company, or perhaps taking some time for reflection following a profit warning in January. In its first coverage of the company, Shore Capital [...]
Black Friday UK 2015: 1 in 5 ecommerce websites including John Lewis, Boots, Boohoo and Argos went down before 9am this morning November 27, 2015 UK retailers’ online shops are buckling under the strain of Black Friday, with one in five crashing before most of us had finished our morning commute. Argos, Boots and Game were among those that had downtime before 9am, showed data from commerce agency Ampersand. The agency is tracking what websites are currently live, showing how [...]