FTSE 100 Live: Asos shares tumble, retail sales drop, Babcock sinks Markets Good morning from the City AM liveblog team. With just days to go before the Budget, there is increasing investor nervousness about what surprises could be in-store for businesses. Few are expecting those surprises to be pleasant. Speaking to the paper yesterday, the boss of the world’s biggest platinum group metals recycler warned Rachel Reeves [...]
Topshop and Topman losses revealed before John Lewis move Retail Losses at the joint venture behind Topshop and Topman have been revealed ahead of the brand’s return to UK stores next year. The brands were sold by online clothing retailer Asos to a joint venture alongside Danish retail tycoon Anders Holch Povlsen’s Heartland in September 2024. Asos had previously acquired Topshop and Topman along with [...]
Youtube bets on AI ads as viewing habits evolve Youtube has become a near-ubiquitous presence in UK homes, with 47.9m adults now using the platform across devices. Ipsos data shows the average viewer spends 78 minutes a day watching its content, with the platform leading in so-called ‘connected TV’ viewing ahead of traditional broadcasters and other streaming services. For brands, this scale is attractive: [...]
Asos shares sink after sales fall behind expectations September 30, 2025 Shares in e-commerce fashion firm Asos have tumbled after the company reported sales short of expectations and vowed to extend its cost-cutting programme in a bid to secure “even stronger profitability foundations”. The London-based business said it “had planned to shift gears” from rebuilding its commercial model towards “re-engaging with customers.” “Instead, more opportunity to [...]
FTSE 100 Live: Asos and Close Brothers lead City stocks’ fall as economic growth slows September 30, 2025 Good morning from the City AM liveblog team. When Rachel Reeves prepared her inaugural budget last year, she had little in the way of good news to impart to the people of Britain. The chancellor said she’d been left a bad inheritance, and had to raise tens of billions of pounds in extra taxes to plug spending [...]
New Look owners line up Rothschild as high street chain prepares for possible sale August 24, 2025 The owners of New Look have appointed Rothschild to oversee a strategic review that could see the high street fashion chain change hands next year. Alcentra and Brait, which have controlled the retailer since 2020, tapped the investment bank after receiving unsolicited approaches from potential buyers, Sky News reported. No timeline has been set for [...]
Tiktok gives retailers a headache with boom in returns culture July 18, 2025 Retailers are facing a conundrum. Their customers are searching for and buying clothes via Tiktok and Instagram, but those same social media customers are increasingly less likely to keep the clothes they buy. A surge in the number of clothes sent back to retailers has caused issues with both costs and with environmental goals, but [...]
Mike Ashley’s investments double to £1bn thanks to Hugo Boss shares July 17, 2025 The total value of the stakes Mike Ashley’s empire holds in the likes of Hugo Boss, AO World and Boohoo have doubled to £1bn in just over a year, it has been revealed. According to the group’s latest financial results, which have been filed with the London Stock Exchange, the value of its investments in [...]
What happened to River Island? June 26, 2025 River Island is suffering from a common affliction. Declining sales and an inability to keep up with competition have led to a restructuring plan, with imminent store closures if the strategy goes ahead. High-street peers like Miss Selfridge, Dorothy Perkins and Debenhams have already disappeared and become online-only – River Island is just the “latest [...]
Asos replaces finance chief after just one year June 17, 2025 Asos’ chief finance officer Dave Murray has stepped down from his role after 15 months as the struggling commerce giant continued to push a turnaround. He will be replace by Aaron Izzard, who currently serves as director of group finance at Asos. Murray, who will leave to “pursue other opportunities”, has helmed Asos’ finance division [...]