City veterans launch new corporate finance boutique November 19, 2018 A former board member of investment bank Zeus Capital is today launching a corporate finance boutique alongside a senior executive from Nex Exchange. The new firm, Guild Financial Advisory, will advise companies on initial public offerings (IPOs), fund raising, deals and corporate governance. Its chief executive Ross Andrews previously spent eight years with Zeus where he [...]
Golden quarter could bring Christmas cheer to struggling British retailers November 9, 2018 Retailers might find seasonal cheer in an early Christmas present as experts predict a strong final quarter to the year. Sales in the sector are expected to tick up by two per cent year-on-year, according to analytics company Global Data. The increase will be driven by food and groceries, which are expected to grow 2.5 [...]
Thousands of stores fall off high street as retail woes worsen November 9, 2018 Fresh evidence of the retail woes facing Britain’s shopkeepers emerged this morning, with more than 2,500 stores vanishing from the high street over the first six months of this year. Some 14 stores have closed every day in the first half of 2018, as stiffer competition and higher costs make the retail struggle for survival [...]
Going it alone: Tech giants to be hit by UK digital services tax October 29, 2018 Technology giants operating in the UK will be served with a narrowly-targeted digital services tax, chancellor Philip Hammond announced today. With consultations to occur before the tax goes live in April 2020, the chancellor said the move is to ensure "the UK continues to be the best place in the world to start and scale [...]
Fevertree’s fizz falls flat with investors as shares dip again October 10, 2018 Fevertree’s share price is down more than nine per cent today as the tonic maker continues to tumble from its mid-September peak. The gin mixer brand saw its stock hit its highest level on 12 September, at 4,120p, but it has failed to climb further, instead seeing shares dip in the weeks before today’s losses. [...]
Boohoo in vogue after outlook raised September 26, 2018 Boohoo had an impressive six months as revenue and pre-tax profit jumped by 50 per cent and 22 per cent respectively. The group saw strong demand for their brands at home and abroad, as the UK registered a 43 per cent rise in sales and the international division posted a 62 per cent rise in revenue. The overseas [...]
Smiles all round as Boohoo’s rising revenue trumps City forecasts September 26, 2018 Online fashion retailer Boohoo bumped up its forecast for full-year sales growth this morning in the wake of better-than-expected revenues during the first half of 2018. The PrettyLittleThing.com owner’s revenue hit £395m in the first six months of the year, marking a sharp 50 per cent rise compared with the same period in 2017. [...]
What’s Next? Questions remain over autumn results after retailer’s summer boost September 25, 2018 There’s been no shortage of negative headlines surrounding UK retail in recent weeks with the woes of the sector hitting some high profile names in recent months including House of Fraser, Moss Bros last week, and John Lewis surprising the markets in reporting huge drops in profits. Earlier this year Next warned that trading conditions [...]
Next nudges up profit guidance after blistering summer despite ‘volatile’ market September 25, 2018 British fashion retailer Next nudged up its full-year outlook this morning, after the firm’s strong summer performance unexpectedly carried on into August and September. Next posted half-year pre-tax profits of £311.1m compared with £309m in the same period last year, raising its full year guidance by £10m to £727m. The better-than-expected forecasts have largely been [...]
Online retail to be Next’s summertime saviour as hot weather boosts sales September 23, 2018 Fast fashion stalwart Next is preparing to reveal its half year results to investors on Tuesday, with many eager to see whether its online sales uptick continued throughout the UK’s extended hot summer. The retailer had previously warned earlier this year that it was facing its toughest trading conditions in 25 years as customers [...]