Orla Kiely collapse ‘sparked by US expansion’ October 28, 2019 The collapse of fashion brand Orla Kiely was sparked by the retailer’s attempt to expand in the US, according to the latest administrators report. Kiely Rowan, the parent company of the clothes and homeware designer, collapsed into liquidation in September last year. Read more: Orla Kiely shuts up shop A progress update by administrators Quantama [...]
Walgreens Boots Alliance profit hit by cost-cutting charges October 28, 2019 Walgreens Boots Alliance reported plunging profit in the fourth quarter as the owner of UK high street giant Boots took a hit from cost-cutting charges. Profit in the fourth-quarter plunged 55 per cent to $677m, compared to the same quarter in the previous year as the group closed stores. Read more: Big boots to fill: [...]
Takeway.com tells shareholder Delivery Hero to abstain on Just Eat vote October 28, 2019 Takeaway.com, the Dutch food delivery firm eyeing a merger with Just Eat, has asked investor Delivery Hero to abstain from voting on the deal. Prosus, which is the largest shareholder in Delivery Hero, last week tabled a £4.9bn rival takeover bid for Just Eat, sparking a bidding war with Takeaway.com. Read more: Just Eat gatecrasher [...]
Retail stockpiling soars on Brexit uncertainty October 28, 2019 Retail stock levels in relation to expected sales soared to record levels this month as high street stores prepared for the crucial Christmas trading period and potential Brexit related disruption. The spike in stock adequacy, which reached the highest level since records began in 1983, came as retail sales declined for the six consecutive month. [...]
Amazon shares slump after online retailer posts third-quarter profit drop October 24, 2019 Shares in online retail giant Amazon slumped in after-hours trading this evening after the firm reported a slump in third-quarter profit. Shares in Jeff Bezos’ company fell as much as eight per cent after it posted a fall in net income for the first time in two years, from $2.88bn to $2.13bn in the three [...]
Supercuts owner Regis UK calls in administrators October 24, 2019 Supercuts owner Regis UK has appointed administrators as the hair salon chain becomes the latest victim of a challenging retail environment. Regis UK, which trades under the Regis and Supercuts brands, entered insolvency yesterday and appointed Deloitte as administrator, Sky News reported. Read more: Supercuts owner Regis UK asks landlords to slash rents The move [...]
Magners owner C&C toasts premium drinks sales October 24, 2019 C&C Group, the owner of Magners and Bulmers cider, toasted a surge in sales in the first half, boosted by customer demand for premium drinks. Revenue increased 13.5 per cent to €874.8m in the six months to the end of August, and operating profit was up 9.2 per cent to €63.8m. Read more: Magners owner [...]
Tesla holds share gains after surprise third quarter profit October 24, 2019 Shares in electric car firm Tesla were up more than 16 per cent today after chief executive Elon Musk delivered his promise that the company would return to profitability in the third quarter. The company’s shares surged 18 per cent in after hours trading last night after the car maker beat analyst expectations and posted [...]
Payday lender Quickquid lines up administrators October 24, 2019 Quickquid is on the brink of collapsing into administration following a crack down on pay day lenders. Cash Euro Net UK, which trades under the name Quickquid, has lined up Grant Thornton as administrator as it prepares for a potential insolvency process, which could be launched in the next few days, Sky News reported. Read [...]
Sir Richard Branson set to launch Virgin Galactic float on Monday October 24, 2019 Sir Richard Branson has announced that he is planning to float his space venture Virgin Galactic on the New York Stock Exchange on Monday. Branson said he hoped to be there to ring the bell himself as his space flight company becomes the first to go public next week. Read more: Boeing invests $20m in [...]
