Why Debenhams has had three profit warnings in a year and could Mike Ashley help? June 20, 2018 City grandee Crispin Odey, whose hedge fund holds a short position in Debenhams, said last year that the retailer was in a race with House of Fraser “as to who will go down first”. While House of Fraser’s fate will be sealed at its CVA on Friday, Debenhams’ future looks dark, with the embattled department [...]
Struggling House of Fraser’s brand perception is in decline June 13, 2018 Last week, retail store House of Fraser announced plans to close 31 of its 59 shops – including its flagship Oxford Street store – as part of a ‘rescue deal’. If the plans go ahead it could lead to the loss of 6,000 jobs across the UK. It is yet more bad news for the [...]
Donald Trump says the US will only rejoin the Trans Pacific Partnership (TPP) if terms are “substantially better” April 13, 2018 Donald Trump late last night said he will only rejoin the Trans Pacific Partnership (TPP) if it offered “substantially better” terms than those offered to former President Barack Obama. Trump ditched the TPP, a multinational trade pact between 11 members, including Australia, Japan, Canada and Mexico, as one of his first acts as US President. [...]
Wah Nails founder Sharmadean Reid grabs $1m from Saul Klein’s Localglobe for new beauty networking app Beautystack April 9, 2018 The founder of London salon chain Wah Nails has proved she means business with her latest beauty venture, grabbing almost $1m of funding from Saul Klein’s Localglobe and angel investors. Wah’s Sharmadean Reid plans to use the funding to develop and launch the app of Beautystack, a new platform which acts as a beauty appointment [...]
These are the UK’s most sought after companies to work for, as revealed by LinkedIn March 21, 2018 There has been a significant rise in the number of banks and finance firms in the top 20 most sought after companies to work for in the UK, according to a new ranking out today from LinkedIn. The list is compiled through looking at the actions taken by LinkedIn’s 25m UK members, considering data such [...]
Brands are better positioned than ever to create a better future February 26, 2018 The theme of this year’s Mobile World Congress is creating better futures. Startup and breakthrough brands such as those showcasing at MWC and its sister platform 4YFN are widely heralded as a force for good that will be instrumental in the creation of a better future for all of us. But it’s not just new [...]
On trend: Invest in the new era of British fashion brands February 21, 2018 The past few days have been some of the most important in London’s fashion calendar. As Fashion Week graced us with its presence once more, City A.M.’s Alys Keys reported on the shift towards a more democratic industry, propped up by the power of digital influencers. The internet will continue to redefine how we shop, [...]
More shareholders raise concerns that Richemont offer “undervalues” yoox Net-a-Porter February 19, 2018 Shareholders in luxury online retailer Yoox Net-a-Porter (YNAP) have raised concerns that a proposed takeover bid undervalues the business. Ciccio Azzollini, chief executive of Italian investment firm 3IP and a YNAP investor told City A.M. that an offer by Montblanc owner Richemont of €38 per share is too low. The bid values YNAP at €5bn [...]
Numis strengthens hold on top-tier AIM clients while FinnCap takes biggest share of junior market February 5, 2018 Numis Securities shored up its position as the top broker to the largest companies on London’s junior market in the latest rankings, while FinnCap stuck it out at the top of overall rankings. FinnCap was broker to the highest number of clients on the Alternative Investment Market (AIM) in January, despite losing four since October, [...]
Online stalwart Asos is in for a fashion face-off with Amazon’s wardrobe service January 26, 2018 What do Debenhams, House of Fraser, Mothercare and Asos not have in common? Cracking Christmas clothing sales. While the high street’s stalwarts struggled to attract bargain-hunting shoppers over the festive season, their smaller online-only rival yesterday revealed a 30 per cent rise in sales for the final four months of 2017. Asos, or as As [...]