Korn Ferry: Retail sector shake-up drives 40 per cent rise in new chief executive appointments in 2015 March 7, 2016 Retailers made a wave of chief executive officer (CEO) appointments last year as businesses came under pressure to improve their performance and battle declining footfall. Executive search firm Korn Ferry’s latest retail CEO tracker released today shows that there were 45 hires across the sector last year, an increase of 41 per cent on the [...]
New Look third quarter sales jump as menswear stores prove a hit with shoppers February 9, 2016 New Look has shrugged off a tough Christmas trading period to post a jump in sales over the quarter, boosted by its website and the expansion of its new menswear standalone stores. The fashion retailer said revenue grew by 5.6 per cent in the three months to 26 December, taking revenues to £1.18bn for the year to date. Pre-tax profits rose by 38.9 per cent to £87.9m. [...]
Five things entrepreneurs and founders need to know before joining a growth business accelerator programme February 4, 2016 British entrepreneurs have a lot to be excited about at the moment. With over half a million businesses started in the UK in 2013 alone – helped by a business environment with the fewest barriers to entrepreneurship in the world – and the number growing, it’s a good time to be a British-based business. Unsurprisingly [...]
Index Ventures has a new $550m VC investment fund and its eye on London tech startups February 3, 2016 Europe's biggest venture capital investor and the backer of star startups such as Just Eat, Asos and Transferwise has raised millions of pounds in new funds to invest in tech startups across Europe, the US and Israel. Index Ventures has raised a new $550m (£377m) fund from its existing long-standing investor base which includes endowments, pensions and insurance funds, among [...]
Sam Smith, chief executive of FinnCap: This is why I believe in the AIM market January 29, 2016 The AIM market gets a hard rap. Commentators are often harsh with their criticism of the junior market, and prefer to highlight the disasters rather than the successes. Admittedly, AIM has not been without its problem children, but it would certainly be unfair to judge a whole market by the likes of Globo and Quindell, to name but [...]
Asos on fleek? Share price dips despite strong sales growth January 14, 2016 Online fashion retailer Asos unveiled results ahead of expectations this morning, with retail sales of £446.9m in the four months to the end of December, up 22 per cent from last year. But that wasn't enough to impress investors. The figures In a statement this morning, the retailer said group revenue had risen 23 per cent to [...]
Koovs revenues soar but losses widen December 22, 2015 Revenues at Waheed Alli's Indian etailer Koovs have rocketed in the six months to 30 September – but losses have widened as the firm expands. The figures Sales at the London-listed fashion business soared 144 per cent to INR199.2m (£2m), up from INR81.7m last year. But losses widened to INR570.6m, up from INR359.5m last year. The company said [...]
Best of the Brokers for 18 December 2015 December 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com TRINITY MIRROR Analysts at Liberum have reiterated a “buy” rating for Trinity Mirror despite the firm losing its appeal against the level of phone hacking damages awarded against it and increasing the level of provisions by £13m to £41m. Liberum reckon this is [...]
Three of the best business books to read this Christmas: Nothing says “glad tidings” like a book on nudge theory December 2, 2015 Whether you need help deciding how many mince pies it is optimal to eat this Christmas, or how John Lewis has survived revolutions in the retail sector, City A.M. has been compiling a list of some of the best business books to enjoy over the festive period. Here are three. THINKING IRRATIONALLY Historically, the [...]
Brown Thursday, Black Friday, Super Sunday, Cyber Monday 2015: When are the best deals going to be on offer? November 27, 2015 The UK has finally woken up to the pre-Christmas sales bonanza that has been building in the US for many years. Cyber Monday was the first to hit our shores, and, since 2009, has been the biggest single online sales day in the UK. But this year other US imports are gaining traction. What [...]