LondonMetric pivot towards city logistics and away from ‘big box’ retail pays off October 5, 2022 LondonMetric Property’s pivot towards city logistics spaces and away from “big box” retail parks has bolstered recent earnings and also netted the investment trust £111.4m in disposals cash. The real estate investment fund has undergone a shift into “well located long income assets” in the six months to 30 September, just as the urban logistics [...]
HSBC mulls ditching Canadian business amid Ping An breakup pressure October 5, 2022 HSBC is mulling hiving off its Canadian business in a move that could raise billions for Britain’s biggest bank. The banking giant has asked JP Morgan to identify possible buyers of its Canadian arm. Sky News first reported the news today. If HSBC did leave Canada – where it has built up a sizable £6bn [...]
Made.com begins talks with suitors over sale as cash injection of £70m needed October 4, 2022 Made has said it has started talking to a number of potential suitors about a sale of the furniture retailer. After previously declaring the beleaguered online retailer would be looking to sell itself to shore up funding to clinch its survival, Made.com said it had now entered into non-disclosure agreements with various parties. The potential [...]
Frasers edges closer to MySale takeover October 3, 2022 Frasers Group has inched further towards a takeover of My Sale, after snaring a 50 per cent stake in the Australian e-commerce firm. The Sports Direct owner upped its stake in the business, after snaring 100,000,000 MySale shares from investment firm Jackson Family Capital and 62,145,385 MySale shares from former vice-chairman and founder of the [...]
Whose money is it anyway? How blockchain technology can give control back to investors October 3, 2022 Jonny Fry looks at environmental concerns and how they're reflected in shareholder perks for private investors.
Not a good look: PIRC advisory group scrutinises JD Sports boss’ multi-million pound exit deal October 2, 2022 An influential shareholder advisory group has said JD’s payout to former boss Peter Cowgill is “not a good look” for the sportswear retailer. Former JD Sports’ boss Peter Cowgill is set to receive a multi-million pound payout after making his departure from the sneaker seller. Exit terms include a £3.5m payment over two years for [...]
Made.com posts widening losses after furniture retailer puts itself up for sale September 29, 2022 Online furniture seller Made.com has posted widening losses after consumers slowdown on buying homeware items amid the cost of living crunch. The company posted a loss before tax of £35.3m for the six months to 30 June, versus £10.1m a year prior. Earlier this week, Made said it would conduct a strategic review of its [...]
Gymshark names former Asos chief Mat Dunn as new CFO September 27, 2022 Gymshark has announced former Asos interim chief Mat Dunn as its new chief financial officer, as the e-commerce sportswear retailer gears up to open its first physical store. Dunn, whose departure was announced from the fast fashion brand a month ago, will join Gymshark in early 2023. His CV boasts a four year stint as [...]
Close Brothers profits tumble 18 per cent amid trading slowdown September 27, 2022 Merchant banking group Close Brothers saw profits shrink by 18 per cent in the year to July as its Winterflood business was hammered by volatile markets and a slowdown in trading activity.
Aldi: Low prices ‘more important to us than short term profit’ September 26, 2022 Discount Aldi has said it has seen an extra 1.5m customers switch to shopping at its supermarkets over the past three months. The supermarket was recently declared the country’s fourth biggest, knocking Morrisons down the list, according to Kantar data. In full-year results to the end of December 2021, the budget retailer posted an 87 [...]