Why John Lewis’ price promise won’t deliver profits September 14, 2018 Retail bellwether John Lewis reported a 99 per cent drop in profits yesterday in what one analyst labelled a moment as significant as the fall of the Roman empire, as far as the struggling high street is concerned. The middle-class favourite’s profit before one-off items slumped to £1.4m in the six months to 28 July [...]
Debenhams share price falls as House of Fraser merger talk is dampened September 13, 2018 Shares in Debenhams fell by five per cent this morning, wiping out most of the gains made yesterday amid speculation that Sports Direct could merge the struggling retailer with House of Fraser. Read more: Sports Direct board 'mulled Debenhams and House of Fraser merger' The comments were made by an outgoing board member at the [...]
Mike Ashley must end the Sports Direct clowning if he is to be the high street’s hero September 13, 2018 Emptying his pockets of wads of £50 notes at a security check, telling a select committee about vomiting in a fireplace at board meetings – Sports Direct boss Mike Ashley is clearly not afraid of theatre. Against type, he has now chosen to play the part of white knight of the high street, but yesterday’s [...]
Debenhams share price edges up after reporting better than expected results June 25, 2015 Struggling department store Debenhams has had a better-than-expected quarter, but with the share price up just a notch it seems investors are still unsure. The figures Debenhams' like-for-likes were flat for the 15 weeks to 13th June, and up 0.9 per cent for the 41 weeks – ahead of analyst expectations of a decline [...]
Sports Direct’s put options in Debenhams are starting to expire – but did Mike Ashley’s bet pay off? April 30, 2015 Sports Direct's put options are starting to expire. The question on everyone's lips is, did Mike Ashley's bet pay off? The retailer, which first took a punt on the struggling department store in 2014, has gradually increased its stake in Debenhams to 16.6 per cent back via a series of put options. A put gives [...]
Debenhams share price rises on surprise profit rise ahead of forecasts April 16, 2015 The figures Pre-tax profits at Debenhams were up 4.3 per cent to £88.9m during its first half, ahead of analysts expectation of profits remaining flat on last year's £85.2m. Group statutory revenue was up 1.6 per cent to £1.3bn. Group like-for-like sales were up 1.3 per cent for the 26 weeks to 28 February. The retailer also [...]
Debenhams bolsters board with appointment of Terry Duddy as a non-executive director April 10, 2015 Debenhams is looking to bolster its board by appointing veteran retailer Terry Duddy as a non-executive director, as it tries to improve its fortunes after years of underperformance. Duddy was chief executive of the Home Retail group until March last year and is chair of the retail trust. Until 2006 he was chief of Argos, [...]
Christmas came too late to help Debenhams January 13, 2015 DEBENHAMS posted an unexpected fall in first-quarter sales yesterday as a strong Christmas failed to undo the damage of mild autumn weather. Britain’s number two department store chain said that UK like-for-like sales for the 19 weeks to 10 January fell 0.8 per cent, below analyst expectations for a one per cent rise, as demand [...]
Debenhams share price plummets despite online sales uplift January 13, 2015 The figures Shares in troubled department store Debenhams fell nearly eight per cent in mid-morning trading, despite figures published this morning suggesting it had a record Christmas. The retailer said like-for-like sales in the four weeks to 10 January rose 4.9 per cent. Particularly successful were online sales, which went up by 29 per cent. Demand [...]
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 [...]