Primark demands rent cuts after rivals secure insolvency boost July 28, 2019 Primark is said to be demanding rent cuts on dozens of stores as it looks to keep up with struggling rivals that have cut costs through insolvency procedures. The fashion chain is asking landlords to slash rent by 30 per cent on stores where the leases have several years remaining, and is offering lease extensions [...]
Primark founder Arthur Ryan dies following short illness July 8, 2019 Primark founder Arthur Ryan has died, the high street retailer announced today. Ryan, who was the chairman and former chief executive of the budget fashion chain, passed away aged 83 following a short illness. Read more: Primark owner blames sales drop on unseasonable weather The businessman founded the first Primark store under the name Penney’s [...]
Has your business got real Pride? Don’t just talk the talk July 5, 2019 It’S 50 years since the Stonewall Riots, when New York’s gay community hit the streets to protest against police harassment, leading to the US gay rights movement and the worldwide LGBTQ campaign as we know it today. Progress continues to be made – and brands have been quick to spot the potential, both to promote [...]
Primark owner blames sales drop on ‘unseasonable’ weather July 4, 2019 Primark sales rose four per cent above last year’s level for the year to date, owner Associated British Foods (ABF) said today. Read more: Primark sales soar but sugar sales drop at owner ABF However, like-for-like sales actually fell in the 40 weeks to 22 June, with the sales boost coming largely from new stores. [...]
Hedge funds step up bets against retail landlord New River June 30, 2019 Hedge funds are betting against New River as concerns rise that it could be the latest retail landlord hurt by the industry’s struggles. The short position in the company has increased to 7.35 per cent compared to 5.41 per cent on 1 July last year, according to disclosed positions published by Shorttracker. Read more: New [...]
Packaging maker DS Smith shares on the rise as profits soar June 13, 2019 DS Smith shares rose five per cent today on the news it enjoyed profit boost of nearly one-third last year. The packaging manufacturer said it had plans in place to stockpile goods ahead of Britain’s planned exit from the EU at the end of October. Read more: DS Smith sells plastics division to US private [...]
Mountain Warehouse eyes store expansion as profits jump May 31, 2019 Outdoor clothing group Mountain Warehouse is eyeing an expansion on the high street this year after reporting today a double-digit rise in annual pre-tax profits and sales. The retailer, which currently runs 350 stores and employs 3,500 staff, is planning to open a further 50 stores this year, including roughly 20 in the UK, following [...]
Marks and Spencer will shut seven stores for the final time as part of a wider restructuring May 4, 2019 Marks and Spencer will shut down seven more stores today as part of its long-term plan to close 100 by 2022. It will bring the total number of stores closed to 47 as the high street retailer adapts to consumer's changing habits. The department store chain is ending its association with town centres across the UK and [...]
Here’s why Boohoo shares are climbing higher May 2, 2019 By Graeme Evans from interactive investor. Stock markets are struggling on boohoo's results day, but the retailer is defying the gloom. Fast fashion is back in vogue on the London market, with well-received results from Boohoo adding to euphoria over a spectacular 2019 for shares in AIM-listed rival ASOS (LSE:ASC). Their recent turnaround follows an [...]
Fast fashion: Boohoo profit piles up as online retailer forges ahead of competitors April 24, 2019 Boohoo’s shares rose this morning as it announced it has bucked the trend in the struggling clothing retail sector with a 49 per cent rise in profit. Read more: Boohoo shares fall despite explosive sales growth The so-called fast fashion retailer, which targets 16-30 year olds with its Boohoo, Nasty Gal and Pretty Little Thing [...]