The Works shares jump after activist investor ups stake Retail Shares in The Works jumped on Monday morning after a well-known small cap activist investor upped its stake in the retailer. The high street staple, which has more than 500 stores across the UK, had been trading with a market cap of just £20m despite turning over more than £250m annually. According to activist investor [...]
The Works: Shares triple in value after ‘living to fight another day’ Retail Shares in The Works have more than tripled in price in the space of four months after recovering from investors questioning “its relevancy in modern retail”. Stock in the West Midlands-headquartered company was priced at 20p towards the end of March but their value has rocketed since then and are now changing hands for more [...]
The Works: Arts and crafts retailer slashes losses as new strategy unveiled Retail High street arts and crafts retailer The Works reported a significant improvement in profitability for the first half of its financial year, as it unveiled a new strategy. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) showed a market improvement, with losses narrowing from £8.5m to £2.8m since the same period last year. Adjusted [...]
The Works: Arts and crafts retailer’s profit slumped as demand stayed soft October 1, 2024 High street arts and craft retailer The Works has reported weaker sales in 2024, leading to a slump in profit. Adjusted earning before interest, tax, depreciation and amortisation fell by 30 per cent to £6m, from £9m last year, while adjusted profit before tax fell 39 per cent to £3.2m, from £5.3m in 2023. The [...]
The Works hoping to return to profit growth following challenging year May 21, 2024 Discount books and crafts supplier The Works is hoping to deliver more than £8m in profits next year, following a challenging 12 months in which it closed dozens of shops across the UK.
Activist investor Kelso gains board seats at The Works as it tries to enhance shareholder value February 14, 2024 Kelso chief John Goold and chief financial officer Mark Kirkland have gained non-executive director positions, and will focus on "all matters relating to shareholder value."