Studio Retail Group shares jump after £50m Findel sale December 16, 2019 Studio Retail Group announced it has sold its education business Findel for £50m, as it reported a slump in profits in its interim results following a spike in additional PPI claims. Shares in the company surged more than seven per cent after it announced Findel has been sold to the City of Wakefield Council as [...]
Superdry boss takes swipe at Black Friday as he launches brand revamp December 12, 2019 Superdry boss Julian Dunkerton today blasted the “madness” of blanket Black Friday discounting, vowing to reduce his company’s reliance on the sales bonanza next year. Dunkerton, who founded the struggling fashion chain in 2003, took a swipe at his rivals’ practice of slashing prices on their core ranges. Read more: Superdry swings to a £4.2m [...]
Dixons Carphone narrows losses as turnaround stings retailer December 12, 2019 Dixons Carphone narrowed losses in its latest half-year performance but a turnaround strategy took its toll on profits, the mobile phone seller revealed today. Read more: Dixons Carphone suffers investor backlash over pay The figures Dixons Carphone pared its loss before tax back to £86m, from a deep loss of £440m this time last year. [...]
Ted Baker share price crashes as bosses quit after profit drop December 10, 2019 Ted Baker’s share price plummeted to a 16-year low this morning after two executives quit, plunging the stricken retailer further into crisis as it slashed its profit forecast and suspended its dividend. Shares dropped as much as 35 per cent in morning trading following the departure of chief executive Lindsay Page and executive chairman David [...]
Lidl sales help it hit record stake in UK supermarket sector December 10, 2019 The biggest supermarkets shed yet more market share to discounters Aldi and Lidl in the three months to the start of December, new data out today reveals. The big four grocers saw their collective market share drop by over one per cent to 67.7 per cent as people delayed their Christmas shopping and Black Friday [...]
Inconvenienced store: McColl’s warns earnings will miss expectations December 10, 2019 Convenience store chain McColl’s warned earnings would narrowly miss expectations due to “unseasonable weather” and low consumer confidence. Revenue slipped 1.9 per cent for 12 months to the end of November, the firm revealed in a trading update today. Read more: Investors see signs of recovery at McColl’s after supply chain disruption It warned that [...]
M&S shares jump after Goldman Sachs hikes rating December 9, 2019 Shares in Marks & Spencer jumped this morning after investment bank Goldman Sachs hiked its stock rating following improvement in the retailer’s troubled clothing and home division. The company’s share price was up more than four per cent after Goldman Sachs issued a “buy” rating, from its previous “sell” recommendation, in a boost for the [...]
Angling Direct expansion continues as it reels in record Black Friday sales December 9, 2019 Fishing giant Angling Direct hailed a record period of trading over the Black Friday week as savvy discounting helped drive up profit. Read more: Angling Direct records 21 per cent rise in H1 sales The retailer reported an 11.3 per cent rise in sales to £1.86m between 25 November and 2 December, with Black Friday [...]
Wet weather dampens November retail footfall figures December 9, 2019 Wet weather and the anticipation of Black Friday deals dampened retail footfall figures last month, according to the latest research. Footfall declined 3.4 per cent in November, compared to a drop of 3.2 per cent in the same month last year, as shoppers held out for Black Friday bargains. Read more: Retail footfall down 10 [...]
FTSE 100 opens higher as China tariff waiver raises hopes of trade truce December 6, 2019 The FTSE 100 bounced back in early trading today as China’s decision to roll back tariffs on some US exports raised hopes of a pre-Christmas trade war truce. London’s blue-chip index was up roughly 0.8 per cent to 7,195.1 points this morning as traders reacted to developments in Beijing. Read more: Global growth to pick [...]