Competition watchdog blocks JD Sports’ £90m takeover of Footasylum May 6, 2020 The competition watchdog has provoked a furious response from JD Sports after blocking the retailer’s £90m takeover of rival Footasylum. Following an in-depth investigation, the Competition and Markets Authority (CMA) ruled the tie-up would lead to a “substantially” lessening of competition nationally. As a result, consumers would be left with fewer discounts and could receive [...]
Boohoo suffers coronavirus sales hit after bumper year April 22, 2020 Boohoo Group today posted a huge surge in revenue and profit for the full year but warned the outbreak of coronavirus had hit growth in March. The figures Boohoo’s revenue rose 44 per cent to £1.2bn in the year to the end of February 2020. Pre-tax profit jumped 54 per cent to £92.2m. Net cash [...]
Coronavirus: Could the crisis accelerate the need for ESG communications? April 2, 2020 As Britain digests daily press conferences about Covid-19, the words and actions of business leaders are starting to come under increased scrutiny. As small businesses across the country seek banking loans to stay afloat and employees face being furloughed or even made redundant – what leaders do today and how they communicate will have a [...]
UK coronavirus lockdown: Michael Gove warns of tougher punishments March 24, 2020 Michael Gove has criticised Mike Ashley for failing to close Sports Direct stores on the first day of the UK coronavirus lockdown, and warned of tougher punishments for flouting the public order to stay at home. The minister blasted Ashley’s argument that keeping Sports Direct stores open was crucial to help UK households “maintain a [...]
JD Sports may have to sell off Footasylum, says CMA February 11, 2020 Shoppers could be worse off online and in store if JD Sports’ acquisition of Footasylum goes ahead, the UK’s competition watchdog found today. The Competition and Markets Authority (CMA) warned the merger could lead to fewer discounts and worse customer service, as well as less choice in its preliminary ruling. “We’re currently concerned that shoppers [...]
Exclusive: Politicians slam House of Fraser for continuing to sell Presidents Club clothing line January 30, 2020 Politicians, businesswomen and equality campaigners have called on House of Fraser to stop selling a clothing line appearing to reference the Presidents Club dinner where businessmen allegedly groped hostesses. The Presidents Club annual dinner was plunged into scandal in 2018 after details emerged of attendees’ behaviour and revealing dresses hostesses were told to wear. The [...]
Investors brace for rocky week of geopolitical tension January 5, 2020 Investors are bracing themselves for a rocky week’s trading which will be dominated by heightened tensions in the Middle East and feature a key US jobs report and many companies’ financial results. Traders started 2020 in a buoyant mood on Thursday of last week, with equity indices rising considerably. The US’s assassination of Iranian general [...]
All the big high street retailers that collapsed in 2019 December 23, 2019 It has been another turbulent year for the UK high street, which has struggled to adapt to changing consumer behaviour while battling rising overhead costs. Household names such as Debenhams, Mothercare and Clintons hit the news after they were forced to launch restructuring plans, close stores or simply stop operations. Read more: Why high street [...]
JD Sports shares drop after top investor Pentland slims down stake December 11, 2019 Shares in JD Sports fell as much as nine per cent this morning following reports majority shareholder Pentland has slimmed down its stake in the company. Read more: Competition watchdog ploughs ahead with investigation into JD Sports Pentland, a brand management firm and retailer, is said to have offloaded 24m shares priced at 740p each. [...]
Top City investors urge UK firms to pay living wage November 28, 2019 Some of the City’s biggest investors have written to the chief executives of companies including Just Eat, British Airways, and Royal Mail urging them to pay the so-called real living wage. The letter, published today, outlines a growing business case for the living wage, arguing that it can boost productivity, reduce staff turnover and improve [...]