City focuses on Boohoo as online giant hopes to defy retail gloom January 13, 2019 Online fashion giant Boohoo looks set to defy the gloom hanging over Britain’s retail industry later this week when it is expected to post another quarter of sharp sales growth. The City will be turning its attention towards the e-commer giant to see whether its festive fortunes were enough to buck a current trend of dismal [...]
Debenhams share price plunges as investors fear disappointing Christmas trading January 2, 2019 Shares in Debenhams plunged almost nine per cent this morning amid fears of poor trading over the festive period. The department store chain saw its share price tumble to 4.68p on the first day of trading in 2019, ahead of an update due on 10 January. The sliding shares suggest investors have low expectations for [...]
Primark owner warns of challenging trading and tough retail market December 7, 2018 The chairman of the company behind Primark is today warning of a tough market for retail saying that during November Primark trading was challenging. Associated British Foods chairman Michael McLintock will say at the firm’s annual general meeting today that “during November Primark trading was challenging, in a tough retail market, but with careful inventory management [...]
Proxy adviser tells investors to vote against ‘excessive’ pay of Associated British Foods boss December 5, 2018 An influential advisory group today recommended that shareholders vote against the "excessive" pay package of the Associated British Foods (ABF) boss. The firm’s chief executive George Weston, who belongs to the billionaire family that owns a majority stake in ABF, earns approximately 129 times the salary of the company’s average employee, with proxy firm Pensions [...]
Online sales are set to hit record levels on Black Friday as high street footfall declines November 21, 2018 The proportion of sales made online is likely to hit its highest level ever in November, boosted by a Black Friday internet shopping rush and fewer high street shoppers. Internet sales are expected to exceed 20 per cent of total retail sales for the first time ever this month, according to research by real estate firm [...]
Shareholders need to hear more than just contrition if they are to believe in the future of M&S November 8, 2018 Another day, another bleak set of results from a struggling high street retailer. This time it was the turn of M&S to take centre stage, reporting falling food and fashion sales and pledging to leave “no stone unturned” in its bid to restructure the business. Blighted by rising costs, more competition, and major changes in [...]
Sugar business misses the sweet spot as eyes turn to Primark November 6, 2018 Primark has today been pinned as next year's source of growth for its owner Associated British Foods (ABF), which is looking to fill a gap left by falling profits from its sugar arm. ABF is hoping that expansion of Primark’s selling space will help deliver expected earnings per share next year, in a bid to [...]
M&S, Tesco and Primark bosses to face MPs over fast fashion ‘waste’ October 5, 2018 Parliament's environmental audit committee has asked the bosses of 10 UK clothing retailers to reveal their environmental records, amid concerns about serial clothes dumping. High street staples Marks & Spencer, Primark, Next, Tesco, Asda and Sports Direct – among others – will also be summoned to parliament to face questions from the committee in November. Fast fashion is shorthand [...]
Smiles all round as Boohoo’s rising revenue trumps City forecasts September 26, 2018 Online fashion retailer Boohoo bumped up its forecast for full-year sales growth this morning in the wake of better-than-expected revenues during the first half of 2018. The PrettyLittleThing.com owner’s revenue hit £395m in the first six months of the year, marking a sharp 50 per cent rise compared with the same period in 2017. [...]
Next nudges up profit guidance after blistering summer despite ‘volatile’ market September 25, 2018 British fashion retailer Next nudged up its full-year outlook this morning, after the firm’s strong summer performance unexpectedly carried on into August and September. Next posted half-year pre-tax profits of £311.1m compared with £309m in the same period last year, raising its full year guidance by £10m to £727m. The better-than-expected forecasts have largely been [...]