Angling Direct blames bad weather for disappointing performance February 18, 2020 Despite strong growth and expansion in the last year, bad winter weather have dented Angling Direct’s profits. The figures Angling Direct have announced a 41.3 per cent increase in in-store sales to £27.9m, and expects to report revenue of £53.1m. Online sales grew 13.3 per cent to £25.2m as Angling Direct focused more on its [...]
New Look narrows losses as turnaround plan pays off February 11, 2020 High street retailer New Look narrowed its losses in the third quarter, as a new leadership team pushed ahead with its transformation plan. New Look said it narrowed its losses from £63.2m to a statutory loss before tax of £1.2m, despite falling sales. Like-for-like sales in the UK and Ireland fell 7.1 per cent over [...]
Angling Direct chief executive steps down after 17 years February 10, 2020 The boss of Angling Direct, the UK’s largest fishing supplies retailer has stood down with immediate effect, having led the company for 17 years. Darren Bailey, who joined the firm in 2003, will remain on the board as a non-executive director. He has been replaced by fellow board member Andy Torrance. “Both myself and the [...]
Snap stumbles after missing revenue expectations February 4, 2020 Shares in Snap tumbled as much as 12 per cent in extended trading, after the Snapchat parent firm failed to meet analyst expectations for fourth-quarter sales. Revenue for the three months to the end of December was reported at $560.9m, missing estimates of $563m as compiled by Refinitiv. Global daily active users — a key [...]
Brexit Day celebrations: How the UK is marking 31 January January 31, 2020 After nearly four years since the EU referendum in June 2016, Brexit Day is upon us. Great Britain will finally cut its ties with the European Union on 31 January after that date was repeatedly delayed. The original Brexit date was 29 March 2019. But that was pushed back to 31 October and then 31 [...]
South Africa v England fourth Test preview: Home captain Faf du Plessis under pressure both on and off the field as series reaches its climax January 23, 2020 How quickly things can change. After the first Test of the series against England in Centurion, South Africa were left to reflect on a first victory in six attempts in which Kagiso Rabada had taken seven wickets to settle their nerves and given the new coaching team a near-perfect start. Just under a month later [...]
Asos chases away blues with record Black Friday performance January 23, 2020 Online retailer Asos beat the January blues with this morning’s trading statement as revenue grew 20 per cent across the group for the final four months of 2019. The fashion firm said that the growth, which was consistent across all of its divisions, was due to record Black Friday sales. Total sales hit £1.1bn, driven [...]
Joules store closures hurt half-year profit after full-year warning January 21, 2020 Joules revealed a dramatic plunge in profit to just £1.7m today as it took a £6.7m hit to close stores and relocate its head office in the six months to the end of November. The figures Joules booked an 82 per cent drop in profit before tax from £9.3m this time last year to just [...]
UK retail sales decline knocks sterling lower January 17, 2020 UK retail sales fell in the “golden quarter” of Christmas trading, the latest statistics showed today in a further sign of the challenges facing the British high street. In the three months to December 2019, the amount spent and the quantity bought in the retail industry fell 0.9 per cent and one per cent respectively, [...]
Retail health hits record low in 2019 January 16, 2020 Retail health hit a record low last year as high street stores battled weak consumer demand and faced pressure to slash prices. The latest Retail Health Index published by a KPMG and Ipsos think tank hit a record low of 74 in 2019 – the worst result since the tracker was established in 2006. The [...]