Packaging maker DS Smith shares on the rise as profits soar June 13, 2019 DS Smith shares rose five per cent today on the news it enjoyed profit boost of nearly one-third last year. The packaging manufacturer said it had plans in place to stockpile goods ahead of Britain’s planned exit from the EU at the end of October. Read more: DS Smith sells plastics division to US private [...]
Mountain Warehouse eyes store expansion as profits jump May 31, 2019 Outdoor clothing group Mountain Warehouse is eyeing an expansion on the high street this year after reporting today a double-digit rise in annual pre-tax profits and sales. The retailer, which currently runs 350 stores and employs 3,500 staff, is planning to open a further 50 stores this year, including roughly 20 in the UK, following [...]
Marks and Spencer will shut seven stores for the final time as part of a wider restructuring May 4, 2019 Marks and Spencer will shut down seven more stores today as part of its long-term plan to close 100 by 2022. It will bring the total number of stores closed to 47 as the high street retailer adapts to consumer's changing habits. The department store chain is ending its association with town centres across the UK and [...]
Here’s why Boohoo shares are climbing higher May 2, 2019 By Graeme Evans from interactive investor. Stock markets are struggling on boohoo's results day, but the retailer is defying the gloom. Fast fashion is back in vogue on the London market, with well-received results from Boohoo adding to euphoria over a spectacular 2019 for shares in AIM-listed rival ASOS (LSE:ASC). Their recent turnaround follows an [...]
Fast fashion: Boohoo profit piles up as online retailer forges ahead of competitors April 24, 2019 Boohoo’s shares rose this morning as it announced it has bucked the trend in the struggling clothing retail sector with a 49 per cent rise in profit. Read more: Boohoo shares fall despite explosive sales growth The so-called fast fashion retailer, which targets 16-30 year olds with its Boohoo, Nasty Gal and Pretty Little Thing [...]
Primark profits soar but owner ABF blames poor sugar performance for fall in profits April 24, 2019 Primark delivered an “excellent” 25 per cent profit growth in the six months to March even as owner Associated British Foods (ABF) saw overall income shrink. Read more: A look inside the world's largest Primark The figures ABF witnessed a huge 15 per cent year-on-year drop in statutory profit before tax to £515m after paying a [...]
Primark unveils its largest ever store with Disney cafe, barber shop and Wizard World April 11, 2019 The world’s biggest Primark opened its doors to customers for the first time this morning. Featuring a Disney-themed cafe, Hogwarts Wizarding World and barber shop, the new outlet spans 160,000 ft across five floors. A Disney-themed cafe is part of the new Primark store It is the latest sign of the budget retailer’s expansion, which [...]
Death of the High Street? Why we’re still backing UK retail April 9, 2019 Following some dire headlines you might rightly wonder why the share prices of UK retailers have recorded double-digit gains this year (see graphic, below). Surely the relentlessly downbeat mood music from the mainstream media (and pessimism among analysts) is confirmation that the UK consumer is in full retreat, and consumer-exposed sectors are in deep trouble? [...]
Babcock could appoint Rolls-Royce director Cairnie as first woman chair within weeks March 31, 2019 Defence giant Babcock is planning to appoint a female director at Rolls-Royce as its next chair, according to reports. Ruth Cairnie, a non-executive director on the engine maker’s board and former executive at oil giant Shell, could be named the contractor’s chair within weeks. Read more: Defence giant Babcock's chairman to step down after decade [...]
Primark boosts revenue with new store openings but warns on like-for-like sales drop February 25, 2019 Primark said today it expects half-year sales to grow four per cent compared to last year, driven by new store openings, but the budget fashion retailer will post a two per cent drop in like-for-like sales. In the UK sales were up two per cent, while Eurozone sales jumped five per cent with strong growth in Spain, France, Italy and Belgium. However, [...]