Topshop and Topman losses revealed before John Lewis move Retail Losses at the joint venture behind Topshop and Topman have been revealed ahead of the brand’s return to UK stores next year. The brands were sold by online clothing retailer Asos to a joint venture alongside Danish retail tycoon Anders Holch Povlsen’s Heartland in September 2024. Asos had previously acquired Topshop and Topman along with [...]
FTSE 100 seals best quarterly rise since 2022 Markets The FTSE 100 has net its best quarterly rise since 2022 as the index shrugged off geopolitical tensions to storm to record highs. London’s blue-chip index clawed back morning losses to seal a 0.54 per cent gain at 9350.43. A batch of risers managed to offset losses from market heavyweights. Pest control firm Reckitt and [...]
Asos shares sink after sales fall behind expectations Retail Shares in e-commerce fashion firm Asos have tumbled after the company reported sales short of expectations and vowed to extend its cost-cutting programme in a bid to secure “even stronger profitability foundations”. The London-based business said it “had planned to shift gears” from rebuilding its commercial model towards “re-engaging with customers.” “Instead, more opportunity to [...]
New Look owners line up Rothschild as high street chain prepares for possible sale August 24, 2025 The owners of New Look have appointed Rothschild to oversee a strategic review that could see the high street fashion chain change hands next year. Alcentra and Brait, which have controlled the retailer since 2020, tapped the investment bank after receiving unsolicited approaches from potential buyers, Sky News reported. No timeline has been set for [...]
Mike Ashley’s investments double to £1bn thanks to Hugo Boss shares July 17, 2025 The total value of the stakes Mike Ashley’s empire holds in the likes of Hugo Boss, AO World and Boohoo have doubled to £1bn in just over a year, it has been revealed. According to the group’s latest financial results, which have been filed with the London Stock Exchange, the value of its investments in [...]
Asos replaces finance chief after just one year June 17, 2025 Asos’ chief finance officer Dave Murray has stepped down from his role after 15 months as the struggling commerce giant continued to push a turnaround. He will be replace by Aaron Izzard, who currently serves as director of group finance at Asos. Murray, who will leave to “pursue other opportunities”, has helmed Asos’ finance division [...]
Asos: Losses narrow as e-commerce giant drives turnaround April 24, 2025 Struggling ecommerce giant Asos has reported reduced losses as its turnaround plan begins to take shape. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) moved into positive territory at £42.5m in the 26 weeks to March 2, from a loss of £16.3m last year. Its share price dipped by nearly two per cent in [...]
Asos and Boohoo stick to US closures despite Trump tariffs April 8, 2025 Asos is to continue with its plan to close its distribution centre in Georgia, USA, and serve the country from Yorkshire despite the imposition of President Donald Trump’s tariffs. At the start of the year, the fast-fashion group announced plans to close its US base in another effort to boost profitability and streamline operations. The [...]
UK retailers claw back losses as wave of selling turns to opportunistic buying April 7, 2025 Heavyweight UK retailers clawed back some of their losses on Monday afternoon as the morning’s sell-off turned to buying. The FTSE 350 general retail index had dropped by as much as four per cent in early trades, but later stabilised to minus 2.8 per cent. Even UK retailers with very little presence in the US, [...]
Asos shares spike on positive trading update March 21, 2025 Asos shares rose by over a fifth this morning after the company posted a better than expected market update. The e-commerce retailer told markets that it expects a “significant improvement in profitability” this year, adding that its own brand full-price sales have returned to growth. Investors reacted positively to the news. Asos’ share price had [...]