Ted Baker founder Ray Kelvin backs Sycamore bid April 17, 2022 Ousted Ted Baker founder Ray Kelvin has given his support to taking the retail giant private following a rocky performance since his departure.
Amazon denies crypto payment method rumours April 14, 2022 Amazon chief Andy Jassy said the company will not be adding crypto as a payment method for the foreseeable future following rumours that the internet behemoth was gearing up for a rollout.
Dunelm warns of ‘significant headwinds’ but maintains profit guidance April 14, 2022 Dunelm’s boss warned of increasing financial pressures on shoppers but said the company’s variety of products would help it continue to grow. In an update on the London Stock Exchange, the homeware retailer said it hit £399m in total sales in its third quarter. This was up 69 per cent on the year prior, when [...]
Ted Baker: US private equity firm Sycamore will join formal sales process for fashion chain April 13, 2022 Ted Baker has given confirmation that New York-based suitor Sycamore will take part in a formal sales process. The retailer had previously rejected a number of bids from the US private equity firm, claiming their proposals had significantly undervalued the high street fashion chain. The announcement does not mean that Sycamore will certainly throw its [...]
City Moves: Who’s switching jobs in the Square Mile? April 13, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. LHV UK Fintech and crypto banking services provider LHV UK has bolstered its board with an independent non-executive director. Stepping onto the board at the beginning of May, Keith Butcher joins the City based firm with a raft [...]
As inflation pushes up prices, businesses should only hike them where it really counts April 13, 2022 Just as the impact of the pandemic was subsiding, inflation has risen to its highest rate since March 1992 – hitting 5.5 percent in January 2022. The Bank of England has projected that inflation will hit 7 percent by the spring. From freight rates to oil to furniture and groceries, prices are increasing dramatically. Many [...]
The A-Z of wine: This week, E is for… England April 12, 2022 We continue to march through the alphabet in search of new wines and old favourites. What’s this then? A green and pleasant land bedeviled by internal strife caused by a single contentious issue – namely, what do you call a soft bread roll? Also home to a burgeoning wine industry fuelled by centuries of wine [...]
The City View: Victoria Scholar on rising prices, unemployment and retail sales data; and XR cause Lloyd’s of London HQ shutdown April 12, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through some of the week’s economics data on GDP, unemployment, retail sales, and talk trading updates. They discuss the latest from ASOS, Deliveroo, and EasyJet: ASOS is facing a raft of headwinds, as investors lose confidence in the online retailer; [...]
Asos swings to loss as fashion giant warns shoppers may cut back on purchases April 12, 2022 Online fashion giant Asos has said it was hammered by reduced stock availability as it posted a £15.8m pre-tax loss for the six months to the end of February. The company cited “industry-wide supply chain constraints impacting stock availability and ongoing Covid-19 restrictions.” In half year results on Tuesday, the retailer posted four per cent [...]
Retail sales slow as consumer confidence now lower than horsemeat scandal April 12, 2022 Retail sales slowed last month as consumer confidence has taken a hit as shoppers feel the bite of rising cost inflation. According to data from the British Retail Consortium (BRC) and KPMG, sales increased by 3.1 per cent in March. This was worse than a three-month average growth of 6.9 per cent. What’s more, retail [...]