Mike Ashley’s Frasers Group snaps up stake in Australian retail group August 28, 2024 Mike Ashley’s Frasers Group has continued its acquisition spree with a strategic investment into the Australian retail and distribution firm Accent. The London-listed retail empire snapped up a 14.65 per cent stake in the company in a move it hopes will further its footprint in Australia and New Zealand – identified as a key market [...]
Oasis world tour: Ticketing companies set for Champagne Supernova August 28, 2024 Ticketing companies are set for a Champagne Supernova of demand as legendary English rock band Oasis has officially reunited after a 15-year hiatus. The iconic Mancunian brothers, Noel and Liam Gallagher, who famously parted ways after a heated backstage bust-up in Paris back in 2009, have set aside their long-running feud to make an on-stage [...]
Naked Wines ‘in much better shape’ despite further losses August 28, 2024 Online wine seller Naked Wines has reported a slump in profit and a higher loss despite “significant strides” made over the past few months to restructure the business. Total sales fell by 18 per cent year on year to £290m in the 52 weeks ended 1 April 2024, while the company’s statutory loss before tax widened [...]
Asda, Tesco and UK retailers face anxious wait after Next loses £30m equal pay claim August 27, 2024 Britain's supermarkets face an anxious wait after fashion retailer Next lost a major legal battle today over unequal pay in its UK operations.
Primark owner AB Foods’ shares drop after investors advised to sell up August 27, 2024 Shares in Associated British Foods, which owns British stalwarts like Primark, Kingsmills and Twinings, dropped this morning after stockbroker Deutsche Numis downgraded its rating from ‘hold’ to ‘sell’. Shares in the FTSE 100 firm, which owns businesses in five segments including grocery, sugar, agriculture, ingredients and retail, dropped more than three per cent in early [...]
Arts and crafts giant Hobbycraft sold to Ted Baker investor August 27, 2024 Hobbycraft, which is one of the UK’s biggest arts and crafts retailers, has been snapped up by a specialist investor whose team has previously supported chains including Paperchase and Tie Rack. Investment group Modella Capital announced it had bought the Bournemouth-headquartered company from its majority owner, the fund management group Bridgepoint, for an undisclosed sum. [...]
Hamleys: World’s oldest toy store closes 40 loss-making shops as sales fall August 27, 2024 Toy retailer Hamleys is hoping a new digital strategy will help turn around its falling sales after closing 40 loss-making stores last year. The brand’s holding company has reported a revenue of £51.4m for 2023, according to newly-filed accounts with Companies House, down from the £56.6m it posted for 2022. Over the same period, its [...]
Heineken’s biggest-ever price rises fail to stop slash in UK profit August 27, 2024 Heineken’s biggest-ever price rises in the UK failed to stop its profit being slashed during its latest financial year as it battled “economic volatility”. The Edinburgh-based division raised its prices in 2023 as it faced “significant inflationary pressure on input costs”, reducing consumer spending, higher labour costs and rising energy bills. According to newly-filed results, [...]
FTSE 100 reshuffle: Burberry and Easyjet set to be downgraded August 23, 2024 FTSE 100 constituents Burberry and Easyjet are expected to be eliminated from London’s main market next month during a reshuffle. The main market’s quarterly rebalance is due on 20 September, with the review being based on prices at close on 3 September. Easyjet managed to claw back into the FTSE 100 in March, but the [...]
Ted Baker seller in the red as jobs cut and stores closed amid focus switch to Suit Direct August 23, 2024 A group which sells Ted Baker clothes across the UK slumped into the red as it significantly restructured itself to focus on its Suit Direct brand. As part of the move, Baird Group disposed of its license to sell Ben Sherman clothes, closed unprofitable stores, cut more than 100 jobs and appointed a new chief [...]