Steinhoff increases holding in Poundland as Brexit casts doubts over takeover bid June 28, 2016 South African retail conglomerate Steinhoff has upped its holding in UK discount retailer Poundland. The increase, from 23.26 to 23.52 per cent, comes despite Bensons for Beds owner Steinhoff saying last week the UK vote to quit the European Union had caused it to rethink its recent offer for the company. Steinhoff, a furniture and household goods company with operations across Europe, Africa and Australasia, earlier [...]
Steinhoff is having second thoughts on Poundland post-Brexit June 24, 2016 South African conglomerate Steinhoff is going off discount retailer Poundland following the unexpected Brexit vote. Steinhoff, owner of UK furniture firm Harveys and Bensons For Beds, blamed last night's vote for the UK to quit the European Union, as well as the recent falls in Poundland shares, for the decision. The UK yesterday voted by 52 per cent to 48 per cent to [...]
What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
Poundland announces disappointing profits after surprise takeover offer from Steinhoff June 16, 2016 Bargain basement retailer Poundland today announced a fall in sales, a day after South African giant Steinhoff said it was eyeing up the company. Read more: Poundland shares have jumped after a surprise takeover offer The figures Like-for-like sales at the discounter were down 3.9 per cent, compared to a rise of 2.4 per cent in 2015. Pre-tax [...]
Poundland shares have jumped after Bensons for Beds owner Steinhoff made a surprise takeover offer June 15, 2016 Poundland shares jumped more than seven per cent this morning after South African giant Steinhoff made an uninvited takeover offer. Shares in the discount retailer hit 210.20p in early trading, after the Bensons for Beds and Harveys owner confirmed it was considering a possible offer for Poundland. It added the announcement had been made "without the consent [...]
Poundland faces profit plunge after delayed takeover of 99p Stores last September June 12, 2016 Discount retailer Poundland might need a few quid as it braces for a plunge in profits this week. The company’s full-year results have been dragged down by its delayed takeover of high-street rival 99p Stores. Earnings per share are forecast to fall almost 43 per cent, from 15.01p to 8.58p per share, when the company [...]
The man behind the £1,000 Shop says the launch party is going to get messy May 26, 2016 David Shapiro advises his well-heeled clients to take the day off after the launch of his £1,000 shop next month. "We will be having a launch party, and it will be messy," is the word from the marketing manager of Mayfair's newest "discount" pop-up store. Shapiro says that the booze will be free flowing in August [...]
Poundland says it is on track to meet profit expectations despite accelerating like-for-like sales fall April 14, 2016 Poundland believes it is on track to meet profit expectations despite its like-for-like sales fall accelerating. The figures In the year to 27 March 2016, like-for-like sales decreased by 3.9 per cent. The fall was steeper – 4.9 per cent – in the second half of the year. In the fourth quarter, Poundland reported a sales [...]
Why some IPOs aren’t all they’re cracked up to be March 30, 2016 Despite a high number of hotly anticipated flotations in recent years, 2016 has been slow going for initial public offerings. Now the dust has settled, it is interesting to examine the wide variations in performance. Compare Just Eat, Auto Trader, Poundland and AO World. All four came to market in the first few months of [...]
FTSE reshuffle: Who’s in and who’s out of the blue-chip index – Morrisons, Sports Direct, Aberdeen Asset Management, Paddy Power Betfair, Informa, Mediclinic International March 2, 2016 Supermarket Morrison's has stormed back into the FTSE 100, having only been given the boot in the index's last quarterly review. News of a tie up with Amazon gave the big four grocer the boost it needed, sending its share price to 205.4p, up around 10 per cent on the week. Morrison's will be joined in the blue-chip [...]