London’s commercial property market to keep growing as staff ordered back to the office November 26, 2024 The green shoots which sprang up earlier this year in London’s commercial property market look set to continue into 2025, with real estate companies looking at a “cyclical growth opportunity”. London-listed property development firm Helical reported a minor recovery in the value of its property portfolio after several years of market uncertainty this morning. Its [...]
Mike Ashley’s Frasers Group snaps up South African sports retailer November 26, 2024 Frasers Group, the retail empire founded by billionaire Mike Ashley, has continued its global expansion with the acquisition of a South African company. The London-listed group, which already owns the likes of Sports Direct and House of Fraser, has snapped up sporting, outdoor and recreation goods company, Holdsport Group, for an undisclosed sum from the [...]
AO World: Double-digit growth ahead of musicMagpie deal November 26, 2024 Electrical retailer AO World has announced double-digit growth in retail revenue and operating profit as it continues its “laser focus” on cost and efficiency ahead of its acquisition of musicMagpie. Business-to-consumer retail revenue grew by 13 per cent year on year in the six months ended 30 September from £339m to £382m, AO World told [...]
Neobroker Lightyear to launch ISAs in challenge to Hargreaves Lansdown November 25, 2024 Neobroker Lightyear has received approval from the City regulator to launch as a fully-fledged investment firm in the UK amid intensifying competition in the sector.
JD Sports: Shares slump as profit at FTSE 100 giant to be at lower end of expectations November 21, 2024 JD Sports has revealed its full-year profit will now be towards the lower end of its expectations after softening consumer demand hit its sales. The Greater Manchester-headquartered FTSE 100 giant had previously set a target for its pre-ta profit of between £995m and £1.035bn but it has now confirmed the total will be towards the [...]
Mark Kleinman: Handbags (and more) at dawn for activist Ashley November 21, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles Mike Ashley’s newfound penchant for activist investing, Homebase’s turnaround and and Burberry’s flip-flopping Handbags (and more) at dawn for activist Ashley Paul Singer, Bill Ackman…and Mike Ashley? On the list [...]
Bond Street moves into third for world’s most expensive retail spot November 20, 2024 Bond Street has leaped-frogged Tsim Sha Tsui in Hong Kong to take bronze in a list of the world’s most exclusive retail streets. The shift bucks bucks fears about the decline of brick-and-mortar retail on the high-street and the so-called tourist tax, which has faced campaigners’ calls for scrappage. The average rent on Bond Street [...]
Superdry issues warning as struggling fashion label cuts jobs after quitting London November 20, 2024 Superdry has warned its sales will continue to fall significantly during its current financial year after quitting the London Stock Exchange in an attempt to stay afloat. The Cheltenham-headquartered fashion brand delisted earlier this year as part of a radical restructuring plan to keep the company trading. At the time, the company said that cutting [...]
Lidl boss warns retailers are ‘reeling’ after Budget tax raid November 20, 2024 The boss of budget supermarket Lidl has warned retailers are “reeling” following Labour’s tax raid in the Autumn Budget. The German supermarket’s UK boss Ryan McDonnell said the discount brand was staring down the barrel of “tens of millions of pounds” in extra costs. This comes after the Chancellor unveiled a £25.7bn tax-raising package, with [...]
British Land ups guidance amid pivot into retail parks November 20, 2024 Property giant British Land has upped expectations for the year as the group continues its push into retail parks. In its half-year results for the six-month period to 30 September, which were published this morning, the real estate investment trust upped its outlook for earnings per share from 27.9p to 28.1p. Meanwhile, the group’s EPRA [...]