FTSE 100 falls back as extra restrictions mulled January 11, 2021 The FTSE 100 fell back slightly this morning as reports that the government is mulling further restrictions pressed on the markets. London’s premier index fell 0.5 per cent by mid morning to stand at 6,838 points after a rapid start to the year last week. In the first week of trading, the bourse picked up [...]
JD Sports shares pop as firm raises profit outlook January 11, 2021 Sportswear giant JD Sports saw its shares rise 4.6 per cent this morning after the firm announced that full-year profit would “significantly ahead” of estimates. In a trading update, the FTSE 100 firm said that “robust” sales during the pandemic would see it come in ahead of the £295m forecast. That’s despite the fact the [...]
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 [...]
Retailers feel Tier 4 pain as footfall drops 40 per cent December 21, 2020 Retail footfall plunged by 40 per cent in the areas of England put under Tier 4 restrictions such as London, laying bare the impact of the restrictions on shop-owners during the crucial Christmas period. Prime Minister Boris Johnson on Saturday announced London and parts of the south and south east of England would go into [...]
Naughty or nice: Which businesses pleased or peeved Santa in 2020? December 21, 2020 Which businesses stood out this year for going above and beyond for customers and staff, and which will be remembered less favourably for their pandemic policies? The last year has certainly been one that will not be forgotten. The last 12 months have been widely been touted “the worst ever” by people around the world, [...]
FTSE 100 and US stocks slip as market optimism dips December 18, 2020 The FTSE 100 fell along with European and US stocks as optimism faded on trading floors, with doubts creeping in about a US stimulus bill and fresh tensions with China. London’s main stock index was down 0.2 per cent in the afternoon session to 6,539 points. The FTSE 250, which is more domestically focused, fell [...]
The Week in Sportbiz: Premier League toasts beIN deal; banker set to buy Lille; breakaways boosted; Australian Open delay; and Griezmann bins Huawei December 17, 2020 Christmas cheer has arrived early at the Premier League after it agreed a new $500m deal with beIN Sports. The contract, which gives beIN exclusive broadcast rights in 24 countries across the Middle East and North Africa, is effectively a three-year extension to their deal for 2019-22. It comes as a boost to the Premier [...]
Rangers, Hummel and JD Sports probed by competition watchdog over replica kit pricing December 16, 2020 Scottish football club Rangers are being probed by the UK competition watchdog over the pricing of their replica kits. The Competition and Markets Authority is also investigating Rangers’ former kit maker Hummel and retailers JD Sports and Greaves Sports. The CMA said it’s probe centred on “suspected anti-competitive behaviour in relation to the price at [...]
JD Sports expands US footprint with purchase of Shoe Palace for $325m December 15, 2020 JD Sports has agreed to buy California-based sportswear brand Shoe Palace in an all-cash deal worth $325m (£243.7m), the company has announced. Genesis, the US owner of JD Sports, will acquire the 100 per cent of both Shoe Palace shares, plus members’ interests in youth-focused subsidiary Nice Kicks. Around $100m of the cash consideration, which [...]
Mike Ashley’s Frasers Group confirms Debenhams rescue talks December 7, 2020 Mike Ashley’s Frasers Group confirmed it is in negotiations with Debenhams for a potential rescue deal, a week after the department store fell into administration. In a statement this morning, Frasers Group confirmed it is in talks with Debenhams’ administrators “regarding a potential rescue transaction”. It came with the caveat that there was little time [...]