Frasers Group makes cash offer for Australia’s My Sale August 17, 2022 Sports Direct owner Frasers Group has made a cash offer to snag the Australian e-commerce site MySale, after becoming its largest shareholder. Mike Ashley’s retail emporium announced the offer for a 100 per cent stake in the firm on Wednesday morning, at a price of 2p per share. Frasers presently holds a 28.7 per cent [...]
Asos shares slip after top exec announces departure August 17, 2022 The ASOS board have agreed a phased plan under which Mat Dunn, Chief Operating Officer and Chief Financial Officer, will step down from his roles as ASOS restructures its executive team.
Walmart maintains outlook for next year as profits tighten against inflationary pressures August 16, 2022 US retail giant Walmart’s profits were eaten into by inflation as it maintains its outlook for the next financial year despite revenue being up 8.4 per cent. The supermarket chain took in $152.9bn in Q2 but said this strong growth was “partially driven by inflation”, which tempered its outlook, and its profits. Its comparative sales [...]
Revealed: As bills rise for millions of Brits, this is how much profit energy suppliers make. August 16, 2022 Energy bosses were hauled in front of ministers last week amid nightmare predictions that the average household bill might climb to £5,000 from April after a winter of soaring heating prices. Energy companies have been calling for immediate help for customers. The price cap on bills prevents the firms from taking excess profits from the [...]
Watches of Switzerland to open new flagship London Rolex store August 16, 2022 Watches of Switzerland today set out plans to open a new 7,200 square foot flagship Rolex shop in Mayfair after posting strong results for the first half of 2022. The watch seller will relocate its Rolex Boutique from its current 900 square foot premises on Bond Street to new much larger premises down the [...]
Reebok and Forever 21 owner Authentic Brands snaps up Ted Baker in £211m deal August 16, 2022 After months of speculation, the Juicy Couture and Forever 21 owner Authentic Brands has said it will buy Ted Baker for an estimated £211m.
Reebok owner closes in on Ted Baker deal August 15, 2022 Ted Baker is on the verge of being taken over by a US consumer goods group which owns Reebok, according to Sky News.
China economy wilts under weight of ‘zero Covid’ restrictions and soft demand August 15, 2022 Strict adherence to blunt restrictions on daily life to deal with Covid-19 outbreaks is sending a chill through the Chinese economy, a raft of data released today showed. Beijing’s blanket lockdowns across some of the country’s economic powerhouses, including Shanghai, one of the world’s top trade hubs, are weighing on output. Retail sales growth in [...]
Zalando chief cuts marketing rather than jobs as the retailer battles inflationary pressures August 14, 2022 European fashion giant Zalando chief has said the company is turning to marketing cuts rather than job cuts as the sector grapples with a consumer spending slowdown.
Exclusive: Good Energy boss hits out at ‘misty-eyed’ calls to nationalise utilities August 14, 2022 People should not get "misty-eyed" over nationalised utilities, argued Good Energy boss Nigel Pocklington.