Boxing Day sales kick off early online at Amazon, John Lewis, Currys, Harrods, Next and Debenhams December 24, 2014 Amazon is kicking off its Boxing Day sale on Christmas Day. That’s right, you can start hunting for deals if Santa didn’t bring what you wanted before you’ve even had time to digest Christmas dinner. But there are also a host of retailers waiting to open their doors to sale shoppers on Boxing Day that [...]
John Lewis, M&S, Debenhams – the best Christmas TV adverts of 2014 November 7, 2014 Alright, so there's still a month and a half until the big day – but settle in, because Christmas ads have begun to grace our screens, and they're going to be around for the next 47 evenings in. You might as well become acquainted. First up, we had the big one: John Lewis' much-awaited Christmas [...]
Sports Direct converts its Debenhams stake to put option – and increases its exposure to 12.7 per cent November 6, 2014 Mike Ashley has done it again. He's converted his standard investment (or “investment” as we call it) in Debenhams into a put option, increasing his exposure to the department store along the way. The move, which is actually taking place through Ashley's retail giant Sports Direct, involves disposing of the 4.6 per cent stake taken [...]
Debenhams share price dips as 21 per cent fall in profits revealed October 23, 2014 Debenhams' share price opened lower this morning, after the retailer revealed a 20.6 per cent fall in pre-tax profit for the last year. Over the 12 months to August 30, the department store chain saw underlying pre-tax profit drop to £110.3m, in line with expectations, while reported pre-tax profit fell 23.9 per cent to [...]
Sports Direct now owns 11 per cent of Debenhams October 2, 2014 Sports Direct has just upped its exposure to underperforming department store chain Debenhams, buying a further £33m-worth of shares. The move comes months after the Mike Ashley-owned retailer took its original punt on the high street business, which was ultimately converted into a put option valued at £64m. The new investment equates to a 4.6 [...]
Debenhams refinances debts with £225m bond June 26, 2014 Department store Debenhams refinanced its debts yesterday after launching a £225m bond issue. The retailer has sold £225m of senior notes due in 2021 at a 5.25 per cent yield. This was more than the £200m it had planned to raise when it announced the bond issue last week. Chief executive Michael Sharp, said the [...]
Debenhams sales drop while chief exec raises concerns over consumer spending June 20, 2014 Debenhams has reported a fall in like-for-like group sales of one per cent for the 15 weeks to 14 June. However, the multi-channel retailer enjoyed strong growth in online and international business. The company attributed the slight fall in part to the changing date of its summer sale to 26 June. Instead of slashing prices [...]
Investors cheer recovery plans for Debenhams April 15, 2014 DEBENHAMS’ shares climbed four per cent yesterday as investors welcomed plans to refocus its promotional strategy after a disastrous first half in which profits fell by almost a quarter. The department store group laid out plans yesterday to cut back on promotional activity, extend delivery times for online orders and partner with new brands to [...]
Debenhams loses out to rivals as profit plunges almost 25pc April 15, 2014 Debenhams has just announced a fall in half-year pre-tax profit of 24.5 per cent, to £85.2m. The drop is in line with expectations, the high street store stressed, but shows the still challenging and competitive environment, particularly in the UK, with which it’s having to cope. Chief executive Michael Sharp said the store’s taking “decisive [...]
Ashley takes option for stake in Debenhams January 16, 2014 SPORTS Direct has sold its stake in Debenhams just four days after acquiring it in favour of an option that could eventually see it owning an even greater share of the struggling department store group. The sportswear giant controlled by billionaire Mike Ashley said yesterday that it has sold its entire 4.6 per cent interest [...]