B&Q owner Kingfisher’s boss to depart as profits slump and stores close March 20, 2019 Kingfisher announced the surprise departure of its chief executive this morning, as a swathe of store closures and a double-digit drop in profits puts mounting pressure on the embattled DIY group. Read more: B&Q owner Kingfisher plans foreign market exit as French sales drag Veronique Laury, who is currently one of six female chief executives in the [...]
Just Eat shares fall on 2019 outlook despite jumps in profit and revenue March 6, 2019 Just Eat scored huge boosts to profit and revenue in 2018 to relieve shareholder pressure to merge with a rival, it revealed today, but warned losses will impact 2019 earnings. The figures Profit before tax rose to £101.7m after a loss of £76m in 2017. Revenue rose 43 per cent year on year to £779.5m, [...]
Corporate insolvencies boost puts Begbies Traynor on track to meet expectations March 5, 2019 Corporate insolvencies rose by ten per cent in 2018, consultancy firm Begbies Traynor said in a trading update this morning, as it reported it was on track to meet full-year expectations. The restructuring firm announced it had seen a “good flow” of insolvency appointments in the three months to the end of January this year, [...]
Chinese demand for medicines helps Astrazeneca return to growth February 14, 2019 Strong growth in Chinese demand for new medicines helped Astrazeneca return to growth in 2018, it said today. The figures Product sales grew four per cent in 2018 compared to 2017, to hit $21bn (£16.35bn) in revenue. Fourth quarter revenue grew to $5.77bn, up five per cent year on year. Read more: Bristol-Myers Squibb to [...]
Premier Inn owner Whitbread warns of stalling profits as it launches share buyback scheme January 17, 2019 Whitbread will kick off the process of giving £500m back to shareholders today after completing the £3.9bn sale of Costa, but warned that uncertainty would stall profits next year. It said Premier Inn has added over 2,000 new rooms since the financial year began in March. The company has grown sales in its accomodation business [...]
Boohoo shares drop despite retailer lifting 2019 guidance after strong sales growth January 15, 2019 Boohoo had no cause for tears this morning as it revealed rocketing revenue helped it end 2018 on a high, raising guidance for its full-year sales. Sales grew 44 per cent year on year to £328.2m in the four months to the end of December, up from £228.2m in the same period in 2017. Read [...]
Men’s fashion retailer Blue Inc victim of high street carnage as it enters administration December 16, 2018 Men's fashion retailer Blue Inc has become the latest victim of the carnage on the high street as it crashed into administration last week. The chain appointed turnaround specialist Begbies Traynor to find a buyer last month after a string of cost-cutting and restructuring measures had failed to take it into the black. However, no [...]
Mothercare shares fall as it puts the media in the firing line after losses widen in insolvency battle November 22, 2018 Losses have mounted at embattled childcare retailer Mothercare, which blamed it on critical press coverage of its financial woes as the company undergoes a restructuring process. Group managing director David Wood, who acted as interim chief executive earlier this year, stepped down from his position yesterday. Its share price fell more than 10 per cent as markets [...]
The Scotsman publisher Johnston Press puts itself up for sale as it tries to tackle huge £220m debt pile October 11, 2018 Struggling publisher Johnston Press’s share price dropped over seven per cent today on the news that it was putting itself up for sale. The newspaper group behind the ‘i’ newspaper, The Scotsman and the Yorkshire Post, amid 200 regional titles, has a towering pile of debt totalling £220m that it must pay off by 1 June [...]
House of Fraser landlords, lawyers and property advisers slam ‘disappointing’ CVA vote June 22, 2018 Landlords have been left disappointed after House of Fraser's CVA was passed today, with some even considering legal action. Creditors threw a lifeline to the department store chain by approving rescue plans that will result in half of the retailer's sites being closed. Possible legal challenge Two advisers to a group of the affected landlords [...]