BHS is in administration: Here’s what analysts say was to blame (and what the future holds) April 25, 2016 BHS is in administration having notched up £1.3bn in debt, it has been confirmed this afternoon. Duff & Phelps has been appointed to handle the iconic retailer's administration, with managing directors Phil Duffy and Benjamin Wiles sounding confident about finding a new buyer. City A.M. understands more than 30 enquiries have already been made, and now [...]
New M&S boss Steve Rowe reshuffles womenswear team “to reflect way customers shop” April 20, 2016 Marks & Spencer's new chief executive Steve Rowe has reshuffled the retailer's womenswear teams after pledging to revive the fortunes of the troubled clothing division. The company confirmed it has made some alterations to the way the teams are set up across design, buying and merchandising, resulting in changes to around 200 people's roles. The change means that whereas before a [...]
Alexa Chung for Marks & Spencer has dropped – but what’s the verdict? April 14, 2016 Marks & Spencer's latest attempt to win over the fashionistas (and presumably also the people that actually shop in M&S) landed in shops yesterday. The retailer needs all the help it can get to boost its bottom line – but will this be the collection to swing it? Here's our verdict… What is it? Archive by Alexa [...]
Marks & Spencers has released another set of disappointing numbers – is the new boss the same as the old boss? April 8, 2016 So here we are again. Marks & Spencer has put out another set of dismal results, marking the 17th quarter of clothing sales declines out of 18 at what is the nation’s defining retailer. The story was similar to so many that we’ve heard before: general merchandise was a disappointment (although admittedly, the 2.7 per cent [...]
Marks & Spencer’s share price soars as it reveals better-than-expected fourth quarter figures in Steve Rowe’s first results (but clothing is still down) April 7, 2016 Marks & Spencer's share price soared more than three per cent this morning after posting a better-than-expected set of fourth quarter results – albeit yet another set of declines in general merchandise. The figures Group sales at the high street giant were up 1.9 per cent in the 13 weeks to 26 March, but as with [...]
Will Marks & Spencer’s new boss Steve Rowe “kitchen sink” the retailer? April 4, 2016 Marks & Spencer's new boss Steve Rowe picked up the reins from Marc Bolland on Friday – just days before the troubled retailer is due to reveal its fourth quarter figures. If M&S' most recent set of results is anything to go by, investors can probably expect another set of declines – particularly within general [...]
Next warns year ahead will be worst since 2008 despite posting rise in full-year revenues and profits March 24, 2016 Next has warned the year ahead could be the most challenging since the recession, as it reported rises in both full-year revenues and profits today. The figures Next reported a five per cent increase in underlying profit before tax, totalling £821.3m from £782.2m last year. Operating profit rose by almost the same level, 4.9 per cent, to £851.8m [...]
Budget 2016: The ‘Graph of Doom’ and the UK’s £100bn secret weapon March 16, 2016 Another budget, another round of public funding cuts. Whatever the efficacy of George Osborne’s latest round of cuts to public services, one thing is increasingly clear: while government backs British business to flourish and focuses on ensuring the UK is ‘living within its means’, someone must fill the growing public services gap. When projecting their future spending power [...]
Silvertown Partnership prepares shortlist for funding of Royal Docks £3.5bn scheme March 15, 2016 The developers behind the £3.5bn regeneration of Silvertown Quays in London’s Royal Docks are in talks with several investors about the next stage of funding as work on the first phase of the 62-acre scheme gets underway. The Silvertown Partnership, a consortium of developers made up of Chelsfield Properties, First Base and Macquarie Capital, are currently [...]
Fever-Tree’s share price sparkles as it toasts strong sales for its first full year as a listed company March 14, 2016 Premium mixers brand Fever-Tree, has reported revenue up 71 per cent to £59.3m for the year to 31 December, while pre-tax profits soared to a whopping £16.7m, from just £2.5m the year before. After listing in October 2014, shares have climbed by around 250 per cent, giving Fever-Tree a market capitalisation of around £680m. The company is also offering a substantial hike [...]