Quiz Christmas sales drop after bumper Black Friday January 15, 2020 Fast fashion brand Quiz reported a “disappointing” drop in sales over the crucial Christmas trading period, as both online and in-store revenue declined despite a strong Black Friday performance. The retailer’s share price plunged 13.61 per cent this morning after it revealed that group revenue plunged 9.3 per cent, dragged down by a 14.8 per [...]
Ten Entertainment sales jump after bowling alley investment January 15, 2020 Tenpin owner Ten Entertainment reported a jump in sales last year following investment in bowling alley refurbishments and new technology. Total sales growth for the year was 10.2 per cent for the year, with like for like sales jumping eight per cent to £84.1m in 2019 in the company’s eighth consecutive year of growth. Read [...]
Persimmon sales slump due to customer service drive January 15, 2020 Persimmon has reported a slump in revenue and housing completions, which the housebuilder blamed on a decision to “put customers before volume”. The FTSE 100 firm said total group revenue last year was £3.65bn, a 2.4 per cent dip compared to the previous year as it took action to improve quality and customer service following [...]
UK housing market stable despite political uncertainty, says Taylor Wimpey January 14, 2020 Housebuilding firm Taylor Wimpey said the housing market remained stable last year, despite ongoing economic and political uncertainty. In a trading update this morning the company said that conditions were more challenging in London and the South East but demand for homes remained strong in the face of uncertainty caused by Brexit. Read more: New [...]
Grosvenor Group searches for new boss after UK CEO steps down early January 14, 2020 The Duke of Westminster’s property investment firm Grosvenor Group is searching for a new group chief executive after Craig McWilliam stepped down citing private reasons. McWilliam, who was chief executive of Grosvenor Britain & Ireland, was due to take on the group role next year. Read more: The Grosvenor Estate weights up move to become [...]
Mike Ashley’s Frasers Group urges PM to reform business rates system January 14, 2020 Mike Ashley’s Frasers Group, formerly known as Sports Direct, has written to the Prime Minister to ask him to urgently review the business rates scheme. In a letter to Boris Johnson, Frasers Group finance chief Chris Wootton urged the government to reform the transitional relief system, which he said results in some stores “paying the [...]
Ex-Persimmon boss Jeff Fairburn appointed CEO of Yorkshire housebuilder January 14, 2020 The former boss of Persimmon Jeff Fairburn, who left the housebuilder in 2018 following controversy over his £75m bonus, has been appointed as chief executive of another development firm. Fairburn has taken on the chief executive role at Yorkshire housebuilder Berkeley DeVeer after buying a 50 per cent stake in the firm. Read more: Persimmon [...]
Ex-BHS owner Dominic Chappell ordered to pay £9.5m into pension scheme January 14, 2020 Former BHS owner Dominic Chappell has been ordered to pay £9.5m into the collapsed department store’s pension schemes. The Pensions Regulator (TPR) announced today that Chappell’s acquisition of BHS, the appointment of inexperienced board members and the implementation of an “inadequate” business plan were detrimental to the company’s pension schemes. Read more: BHS buyer Chappell [...]
Revealed: The London boroughs with the most new build homes January 14, 2020 The City of London has the biggest proportion of new build housing stock compared to the other boroughs in the capital, according to the latest research. In total, 28 per cent of the property currently listed for sale in the Square Mile falls into the new build sector. Read more: UK housing market stable despite [...]
Boohoo hikes guidance after ‘record’ quarter January 14, 2020 Boohoo raised its full-year guidance this morning as it reported record trading during the final quarter of last year. The online fashion retailer’s shares jumped more than five per cent after it announced group revenue in the four months to 31 December was £473.7m, an increase of 44 per cent compared to the same period [...]
