Dixons Carphone mulls Nordic float as online sales surge September 10, 2020 Dixons Carphone today said it was mulling a stock market listing for its Nordics business as domestic sales surged on increased online demand. The company reported a 12 per cent rise in electricals sales in the UK and Ireland in the 17 weeks to the end of August. This was driven by booming online sales, [...]
Morrisons profit sinks as Covid costs outweigh sales boost September 10, 2020 Morrisons today reported higher sales for the first half of the year but said costs related to Covid-19 safety measures had hit profit. The figures Morrisons reported total revenue of £8.73bn, down 1.1 per cent on the same period last year. But like-for-like sales excluding fuel rose 8.7 per cent. Statutory profit before tax fell [...]
Dunelm pulls final dividend as it forecasts a brighter 2021 September 10, 2020 Home furnishings retailer Dunelm has said it will not be issuing a final dividend this year, but said it had outperformed expectations despite the pandemic. It added that it expects to pay an interim dividend next year, provided it faces no further hits from renewed lockdown measures. Dunelm said today that profit before tax fell [...]
Fashion retailer Quiz closes 15 UK stores after coronavirus lockdown September 9, 2020 Fashion retailer Quiz has announced it will permanently close around 15 stores in the UK following the UK coronavirus lockdown. The company is only planning to reopen around 60 of its 75 stores. It has reopened 48 sites since non-essential retailers were given the go-ahead to trade in June. Quiz has also reduced the number [...]
Signs of a positive Q4 despite lingering crisis September 9, 2020 Going into Q4 2020, we’re seeing EMEA starting to peek its head over the crest of the global pandemic. The just-released SS&C Intralinks Deal Flow Predictor for Q4 2020 forecasts that M&A announcements may see a YOY uptick of +6 percent, within a range of +15 percent to -2 percent. Distressed M&A deals have risen slightly here, but [...]
Pandemic pushes retail job losses to 125,500 this year September 9, 2020 More than 125,500 retail jobs have been lost so far this year as the coronavirus pandemic accelerated changes on the struggling UK high street. Nearly 15,700 roles were lost every month, while 13,867 shops have closed down across the UK this year. Small independent retailers shed 32,598 jobs between 1 January and 31 August, while [...]
Computacenter shares jump on pandemic-driven profit September 9, 2020 Computacenter’s share price rose more than six per cent this morning, after the technology group posted a boost in profit driven by the rise in remote working. The FTSE 250 group reported a pre-tax profit of £72.4m for the first half of 2020, up from £50.8m a year earlier, as costs also fell. Computacenter said [...]
UK retailers encouraged to boost exports after Covid-19 batters high streets September 8, 2020 UK retail and consumer brands will be encouraged to ramp up international exporting and online sales amid dwindling high street footfall as part of the government’s coronavirus bounceback plans. The Department for International Trade today unveiled a raft of measures to support brands with exporting and improving their ecommerce platforms after the Covid-19 pandemic accelerated [...]
Halfords warns of profit fall despite cycling boom September 8, 2020 Halfords today said booming demand for cycling products had boosted revenue during the coronavirus outbreak but warned of a fall in profit for the second half of the year. The car parts retailer reported a five per cent rise in like-for-like revenue in the 20-weeks to 21 August. This was driven by a sharp rise [...]
The Crypto circus is back in town! This year’s star attraction? DeFi (Part 2) September 8, 2020 When the gas escaped from the ICO bubble market in early 2018, speculators and developers scrambled to find a new way to generate the huge funds and rampant growth previously offered by now collapsed initial coin offerings. DeFi is just the latest in the line of new, and ultimately self defeating attempts to bring back [...]