Asos’s share price surges as etailer reveals double-digit profit and sales growth as retailer consolidates return to strength April 12, 2016 Asos' share price surged more than 5.1 per cent this morning, after reporting six month double-digit sales and profit growth. The figures The etailer grew group revenue 21 per cent to £667.3m in the six months to 29 February, with UK retail sales up 25 per cent while international sales grew 18 per cent. Gross profit was up 22 per [...]
Koovs’ share prices leaps by a third after sales at Indian online retailer beat forecasts April 5, 2016 Koovs' share price leapt this morning after the Indian-focused online retailer said sales almost tripled last year to hit £10m for the first time. The company, which was founded four years ago by former Asos chairman Lord Waheed Alli, said sales jumped by 189 per cent to 981m Indian rupee (£10m) in the year to 31 March. Visitors to [...]
French Connection losses widen as Next mastermind Christos Angelides joins the board, though the share price slides March 15, 2016 High street fashion chain French Connection has reported its sales have continued to slide in the last year, down eight per cent at £164.2m. The company posted a loss of £4.7m, a substantial increase on the £0.8m loss in 2015. In an attempt to shore up its board FCUK has brought on former Next director Christos Angelides as [...]
Missguided website crash: 50pc off sales causes technical problems for online retailer and leaves customers unable to complete orders March 14, 2016 The website of online retailer Missguided has suffered technical problems after announcing a sale leaving many of its customers unable to complete orders. An offer for 50 per cent off appears to have left the retailer, which counts Asos and Boohoo.com among its rivals, struggling to cope. Shoppers turned to Twitter to express their disappointment and frustration [...]
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 [...]