Oxford Street discounts signal a troubling start to the summer for retailers June 25, 2019 The crucial summer selling season is finally upon us, but for retailers on London’s most celebrated high street, all is not well. Big red discounts in shop windows line the parade on Oxford Street, where many of the country’s flagship fashion stores are offering major price reductions in a desperate bid to boost their sales. [...]
Car crash for Lookers: Motor dealer’s shares dive as FCA launch probe June 25, 2019 Motor retail giant Lookers suffered a crash in its share price this afternoon after revealing that the City watchdog is probing its sales practices. The car dealership chain’s share price dived 25 per cent this afternoon as the firm said that the Financial Conduct Authority (FCA) “intents to carry out an investigation into the company’s [...]
Carpetright shares jump as turnaround plan remains on track June 25, 2019 Carpetright has reported a narrowing of losses and a return to like-for-like sales growth for the full year as it continues to roll out its turnaround plan. Read more: Carpetright shares soar as restructuring plan starts to pay off The figures Revenue fell 13.4 per cent to £386.4m in the 52 weeks to the end [...]
London markets lower as squalls hit Tory leadership contest June 24, 2019 Sterling and stock markets were lower this morning as the race for leadership of Britain’s governing Conservative Party was plunged into turmoil. Three years exactly since the UK woke up on Midsummer Day 2016 to learn that it had voted to leave the European Union, the prospects for an orderly Brexit are overshadowed by serious [...]
Hot cakes: Cake Box revenue rises in first year as listed company June 24, 2019 Cake Box has posted a sharp rise in revenue and profit for the full year as customers get a taste for its egg-free products. Read more: Cake walk: Cake Box revenues soar 30 per cent after summer IPO The figures Revenue jumped 33 per cent to £16.9m in the year to the end of March. [...]
The founder of The Sole Supplier on switching up how we buy footwear June 24, 2019 Earlier in June, thousands of people queued up outside shoe stores to buy a new pair of trainers designed by musician Kanye West. The latest set of Adidas “Yeezys” cost £180 each. But many of the people buying these shoes weren’t just interested in fashion, but in making a profit. Soon after the footwear went [...]
Domino’s picks a Rennie after Wild excess June 21, 2019 A Rennie is a long-held cure for indigestion. Domino’s Pizza Group’s franchisees, who have been complaining that they have had as much as they can swallow of boss David Wild, should, then, welcome the fact that a Rennie is exactly what they’re in line to get. Having acknowledged in March that searches were underway for [...]
Fix the High Street June 20, 2019 I spend a lot of my life on the move. I live near Milton Keynes, my office is in London, and I spend half my time visiting our bases in New York and Los Angeles. I’ve got a lot of air miles, a screwed-up body clock and a ruthlessly controlled diary – as well as [...]
Chance to buy one of the world’s largest retailers cheaply June 20, 2019 By Rodney Hobson from interactive investor. After a temporary technical hitch, this highly resilient company should soon shake off the blip. Rodney Hobson is an experienced financial writer and commentator who has held senior editorial positions on publications and websites in the UK and Asia, including Business News Editor on The Times and Editor of Shares magazine. He [...]
FCA reviews regulatory coverage following collapse of London Capital & Finance June 19, 2019 The City watchdog has launched a report into how firms are regulated following the collapse of mini-bond lender London Capital & Finance. In its first annual Perimeter Report the Financial Conduct Authority (FCA) said that firms “on the edges” of it’s regulatory coverage have “recently caused serious harm to consumers.” Read more: HM Treasury launches [...]