JD Sports mulls equity raise to fund acquisition spree January 26, 2021 JD Sports has confirmed it is considering tapping shareholders for extra cash to fund acquisitions, following reports that it is mulling a £400m equity raise. The retailer announced this morning that it is “exploring additional funding options” which could involve an equity placing. It said it is seeking to increase its “flexibility to invest in [...]
Fashion victims: What next for the high street after Topshop and Debenhams go online-only? January 25, 2021 Topshop and Debenhams are set to disappear from the high street after e-commerce giants Boohoo and Asos swooped on the beleaguered retailers, reflecting the dramatic impact the pandemic has had on the UK retail sector. The decision to take former high street stalwarts Debenhams and Topshop digital-only strengthens experts’ predictions that the growth of online [...]
Octopus outfoxed: Challenger brand tops Which? energy survey January 25, 2021 A small provider has ended Octopus’ two year reign at the top of Which’s annual survey of energy companies. Outfox the Market, which was only founded in 2017, rose from 19th in the table last year to top the rankings in Which’s energy satisfaction survey. The small energy provider frequently offers some of the cheapest [...]
Asos shares jump as retailer confirms exclusive talks to buy Topshop January 25, 2021 Shares in Asos jumped more than five per cent this morning after the online retail platform announced it is in exclusive talks to buy Topshop – the jewel in the crown of Sir Philip Green’s collapsed business empire. Asos said this morning that it is in discussions with Deloitte – Arcadia’s administrator – to buy [...]
Boohoo buys Debenhams brand and website for £55m – but stores set to close January 25, 2021 Online retail giant Boohoo has announced it will buy Debenhams’ brand and website for £55m, but will not rescue the high street chain’s stores or jobs. The deal – announced this morning – means Debenhams’ remaining 118 department stores will close down and could result in up to 12,000 job losses. Boohoo said the acquisition [...]
Topshop set for discount sale price after Next pulls out of race, analysts say January 22, 2021 The bidders circling Sir Philip Green’s collapsed retail empire Arcadia could bag a good deal to buy Topshop, after Next – a frontrunner to rescue the firm’s “crown jewel” – pulled out of the race. Restructuring experts said Next’s exit from the sales process will put the other bidders in a stronger position, making it [...]
What does the WhatsApp saga tell us about privacy in 2021? January 21, 2021 Public trust is steadily declining in the tech sector; WhatsApp’s latest ordeal is a perfect example. The company recently announced it would start sharing sensitive user data with Facebook, including information such as IP address, browser information and phone numbers. Cue a swarm of users deleting the app and fleeing to competitors such as Telegram [...]
Boohoo enjoys strong growth but admits Brexit will drive up costs January 14, 2021 Brexit is likely to drive up prices at Boohoo, with additional costs largely relating to distribution and administration to blame. In a market update this morning the online retailer said it had implemented a system that was designed to minimise the impact of Brexit on its European customers, and it would try to mitigate extra costs [...]
Singapore audit reform stresses need for UK action, IIA warns January 13, 2021 Recent changes to rules surrounding audit in Singapore have highlighted why action on audit reform in the UK is crucial, the CEO of the Chartered Institute of Internal Auditors has warned. CEO John Wood said reform of the UK’s audit sector was necessary to protect the UK’s leading reputation in corporate governance. The Singapore stock [...]
The week ahead, 11-15 January: FTSE housebuilders, Asos, Tesco and UK GDP January 10, 2021 London’s markets started the new year in a frenzy last week, picking up over five per cent and closing the gap on their counterparts around the world. This week is set to be a busy one for the FTSE, with a raft of companies due to provide updates, as well as key economic data in [...]