ASOS remains firmly in fashion April 20, 2010 Online fashion retailer ASOS yesterday said it expects full-year profit to meet market expectations after annual sales rose a third and said the new year had started well, helped by continued growth overseas. The firm, which targets internet-savvy 18-34 year olds looking to emulate the designer looks of celebrities like Kate Moss, Sienna Miller and [...]
Tories gain more support for jobs tax pledge April 6, 2010 THE TORIES were last night claiming another victory in the battle over National Insurance, after three business leaders added their names to a letter condemning Labour plans to hike the “tax on jobs” after the election. Tory sources said that Yell chairman and ex-Merrill Lynch banker Bob Wigley had decided to support the campaign, along with [...]
Ocado sales jump 25pc in IPO warm-up March 22, 2010 OCADO, the online food retailer, has started a “beauty parade” of advisers for a stockmarket flotation after releasing a strong set of results which saw sales surge 25 per cent in a year. Investment banks queuing up to help guide Ocado through a summer initial public offering (IPO) include UBS, Credit Suisse, Goldman Sachs, Nomura [...]
Harmony for face and mind January 19, 2010 THIS, according to beauty analysts, is the year that “mood beauty” will take off – that is, makeup and skincare that actually makes you happier. And with this week deemed the most depressing of the year, it’s good to know there could be a solution to the blues that makes you look better at the [...]
Sales go GaGa for online fashion firm January 18, 2010 PARTY gear helped to generate 30 per cent rise in sales at internet fashion retailer Asos over Christmas. Lace and underwear as outerwear inspired by Lady GaGa has been one of the key sellers for the company. Chief executive Nick Robertson said: “I’m the happiest retailer in the UK, nobody else has produced figures of [...]
Barclay brothers buy DHL parcels unit January 6, 2010 SIR David and Sir Frederick Barclay started the year with a major acquisition for their home delivery business. They snapped up DHL’s parcels business for an undisclosed sum to merge with their Home Delivery Network (HDN). The deal will vastly increase the scale of HDN, doubling its turnover from £300m to £600m. Briant Gaunt, chief [...]
Moulton raises £143m for investment vehicle to target distressed companies December 15, 2009 PRIVATE equity industry veteran Jon Moulton has raised £142.4m to invest in struggling businesses through his new investment vehicle. Moulton, perhaps best known for his involvement in an unsuccessful bid to buy collapsed Midlands car maker MG Rover, will advise Better Capital, which will list on the Alternative Investment Market (AIM) on tomorrow. The group’s [...]
Battle for the festive pound is under way December 6, 2009 THE high street price war has heated up as shops focus both on luring shoppers away from the internet and beating competition from neighbouring shops. London’s West End shopping district enjoyed its best trade for two years over the weekend as 2m shoppers flocked to a traffic-free Oxford Street, spending over £200m in one day [...]
Asos sales beat UK high street on overseas units November 16, 2009 ASOS, the recession-defying fashion online retailer, yesterday reported its half year pre-tax profit had jumped nine per cent, as strong overseas sales offset a softening UK market. The retailer said pre-tax profits in the six months to 30 September lifted to £4.4m from £4.1m the year before and reported a 47 per cent jump in [...]
Debenhams kicks off retail price war November 16, 2009 Debenhams yesterday announced it will be slashing £250m off prices in a four-day sale this week, in a move which it predicts will spark a price war similar to the frenzied discounting seen last Christmas. Rival Marks & Spencer’s executive chairman Sir Stuart Rose, said earlier this month he did not expect a repeat of [...]