Germany’s €6bn mega-float puts London on notice September 3, 2014 Europe’s biggest online fashion player Zalando, a rival to Britain’s Asos, plans to raise more than €500m (£399m) to fund its expansion by listing a stake on the Frankfurt stock exchange. The announcement comes as London’s tech community launches a fight back to maintain its lead over its European rivals. Yesterday, the Coalition for a [...]
Asos share price surges on reports of US buyout August 27, 2014 Shares in online fashion retailer Asos soared yesterday on unconfirmed reports that a US company is eyeing a stake in the business. Asos shares, which have fallen by almost two-thirds this year after two profit warnings and a fire at its main warehouse, jumped 17 per cent to 2,751p, pushing up other online players, including [...]
Lansdowne takes a stake in luxury online retailer Achica August 10, 2014 Lansdowne Partners, one of the world’s largest hedge funds, has bought a stake in online luxury lifestyle store Achica. Lansdowne’s investment was disclosed in documents filed at Companies House, which also said that the company is considering an initial public offering at some point in the future. Achica’s chief executive Steve Robinson, who previously headed [...]
Asos slumps to 18-month low August 5, 2014 SHARES in online clothing retailer Asos hit an 18 month low yesterday after Liberum said it expected shares to fall a further 38 per cent in coming months as its first mover advantage was eroded by market competitors. Asos’ shares have fallen 62 per cent since the start of the year in the wake of [...]
In a field of his own: FarmDrop’s Ben Pugh talks crowdfunding and the future of our food July 27, 2014 In the time it’s taken FarmDrop founder Ben Pugh to discuss his company with me, it crowdfunded £13,000. After just eight days on crowdfunding platform Crowdcube, FarmDrop raised more than its £400,000 investment target. A new way of doing food is, it seems, quite popular. The FarmDrop concept is simple: it streamlines the food [...]
UK company profit warnings at three year high, says report July 27, 2014 The number of profit warnings issued by FTSE 100 companies was at a three-year high in the first quarter, according to a report by Ernst & Young. In its quarterly Analysis of UK Profit Warnings report, the consultancy firm revealed that companies listed on the London Stock Exchange issued a total of 74 warnings [...]
Asos share price: Retailer shrugs off warehouse fire as website reopens June 23, 2014 Asos shares rose two per cent yesterday as the online fashion retailer reassured investors and said it had resumed taking orders following a fire at its main warehouse this weekend. The fire at its Barnsley warehouse in South Yorkshire on Friday night forced the company to suspend its website over the weekend and sparked fears [...]
Analyst Views: Are you concerned that the fire will dampen Asos’s performance? June 23, 2014 JOHN STEVENSON | PEEL HUNT Damage has been relatively limited and the business in now fully operational again, while Asos is fully insured for the damage and business interruption…Moving on from the fire, the same concerns are still there, there are still issues in terms of the relative pricing. It’s still very much a year [...]
Why Asos shares have shrugged off warehouse fire damage news June 23, 2014 Despite slumping by around three per cent in early trading, Asos shares have seen a recovery after Friday's warehouse fire. Traders have been waiting until today to respond to a fire at the company's Barnsley distribution centre, where around 70 per cent of the company's total stock is held. South Yorkshire Police are treating the [...]
5 retailers who’ve suffered warehouse woes June 23, 2014 Retailers have had their fair share of misadventures with their warehouses in recent years. The fire at Asos’ distribution centre in Yorkshire is the second time the retailer has suffered damage to one of its warehouses. An explosion at the Buncefield oil depot near to its former site in Hemel Hempstead in 2005 [...]