Profit warnings trigger sharpest drop in share prices since financial crisis October 22, 2018 Profit warnings have sparked dramatic share price drops not seen since the height of the financial crisis a decade ago, according to a report out today from accountancy firm EY. FTSE companies that have issued a profit warning in the third quarter of 2018 have suffered an average 21 per cent fall in the value [...]
London Stock Exchange dividends jump amid banking and mining growth October 22, 2018 Shareholders were graced with a bumper third quarter of dividends this year, as a weakened pound and a strong showing from financial and mining firms bolstered payouts. UK dividends climbed 4.1 per cent in the last three months, hitting an all-time third-quarter high of £32.3bn. Underlying payouts, which exclude special dividends, reached £31.6bn, a rise [...]
Debenhams could close dozens of stores as it looks to cut costs October 21, 2018 Debenhams is expected to announce further store closures on top of the 10 it already has planned, as it presents its full-year results on Thursday. The beleaguered retail giant, which has issued three profit warnings and has lost two-thirds of its share price since the start of 2018, is looking to save £30m by axing [...]
Selfridges posts record operating profit as investment programme pays off October 1, 2018 A major revamp has helped Selfridges increase sales by 11.5 per cent year-on-year, as operating profits rose to a record £181m for its latest financial year. The department store is now in the final 12 months of its four-year £300m investment programme, transforming its London store and increasing its digital capabilities. Read more: Analysts warn of Debenhams [...]
Too little too late – why the Debenhams rebrand is a frivolous deckchair rearrangement October 1, 2018 According to the press stories that announced a rebrand of Debenhams at the beginning of September, the objective of the exercise was to put “joy” back into the brand. Six days later, the company announced that it was calling in KPMG to help it restructure, which doesn’t sound too joyful. It’s quite farcical really. [...]
Not feeling capital: Debenhams faces growing cash reserve woes as credit insurer scraps cover to suppliers September 30, 2018 Embattled department store chain Debenhams suffered a fresh blow today as one of its leading credit insurers turned off the tap for cover provided to the retailer’s suppliers. Insurance provider Atradius is pulling its entire credit cover for Debenhams’ suppliers, amid fears about the future of the historic retail giant in the run-up to Christmas. [...]
Online-only retailers outpace their bricks and mortar rivals as fresh evidence of high street troubles emerge September 26, 2018 Online-only retailers’ sales have grown 24 times faster than those of bricks and mortar firms in the last five years, according to new data which underlines the current woes facing high street shops. A report out today from data specialist GBG Loqate shows that pure-play online retailers have grown their sales by 281 per [...]
Analysts warn of Debenhams ‘value trap’ day after launch of turnaround strategy September 25, 2018 Embattled department store chain Debenhams was hoping to ease investor cynicism after launching its new turnaround strategy yesterday, but it seems City analysts are yet to be impressed. Liberum said this morning that “a good store tour doesn’t change our view that this is a value trap”, reiterating its “sell” rating after the retailer [...]
Debenhams looks to shore up investor panic with unveiling of its ‘store of the future’ September 24, 2018 Debenhams is gearing up for the unveiling of its “store of the future” later today, as the beleaguered retail giant looks to reassure both shoppers and investors after a challenging summer. The department store chain is also expected to reveal more details of its turnaround plans at the event in Watford today, having denied [...]
Cath Kidston to review UK store locations in bid for higher footfall September 19, 2018 Fashion retailer Cath Kidston is reviewing the locations of its UK stores as it looks to move to destinations that attract higher footfall. The brand, which has 65 stores across the UK including pop-ups and concessions, is reviewing individual branches as leases come up for renewal at which point it will consider whether to relocate the store to a [...]