Dixons Carphone posts slump in mobile phone sales September 5, 2019 Dixons Carphone posted a double-digit drop in mobile phone sales during the last quarter, but said today that it was still on track to meet its financial guidance for the year. The consumer electronics giant, which has been hit by a growing volume of customers keeping their handsets for longer and going for SIM-only deals [...]
Hilco Capital circles embattled retailer Links of London September 4, 2019 Homebase-owner Hilco Capital is circling troubled jewellery retailer Links of London. The vulture fund is among a number of bidders for Links, which is trying to secure a rescue deal in the coming days, according to Sky News. Read more: Folli Follie hires advisers to weigh up Links sale A deal is likely to be [...]
Dunelm shares slide despite strong profit growth September 4, 2019 Shares in Dunelm slumped this morning despite strong profit growth as the homeware retailer warned of a challenging year ahead. Dunelm shares were down as much as nine per cent after it reported cautious outlook for the year ahead as Brexit uncertainty weakens consumer confidence. The figures Profit before tax was up 23.4 per cent [...]
Premier Asset Management merges with Miton to form £11.5bn asset manager September 4, 2019 Premier Asset Management has agreed a merger with Miton, creating a group with £11.5bn assets under management. An announcement by the two companies said the new business, which will be known as Premier Miton Group, would be “well positioned for future growth”. The new group would have been the fifth largest contributor to net UK [...]
Halfords’ sales pedal down amid political uncertainty hitting consumers September 4, 2019 Halfords has warned that its summer sales were weaker than hoped after the bicycle and car maintenance retailer suffered from poor weather and a lack of consumer confidence. The company said it expects “political and economic uncertainty” to hit customers’ spending habits for the rest of the year. Shares fell 2.6 per cent in morning [...]
Wagamama owner Restaurant Group swings to a loss on £115m writedown September 3, 2019 Restaurant Group plunged into the red as it recorded a loss for the first six months of 2019 following its controversial £559m takeover of pan-Asian chain Wagamama. The figures Revenue rocketed 58.2 per cent from £326.1m in the first half of 2018 to £515.9m in the first half of 2019. Restaurant Group fell to a [...]
Tesco Bank sells 23,000-customer mortgage arm to Lloyds Banking Group for £3.8bn September 3, 2019 Tesco Bank has sold its mortgage business to Lloyds Banking Group for £3.8bn, in a move which will see its 23,000 customers switched to a new provider. The retail giant ceased all lending on its mortgages in May, as it announced it was trying to hive off its ledger book. Tesco, which said the portfolio [...]
City Moves for 3 September – Who’s switching jobs at Globalwebindex, Grosvenor Britain & Ireland and Secret Escapes? September 3, 2019 Today’s City Moves includes Globalwebindex, Grosvenor Britain & Ireland and Secret Escapes. Globalwebindex Supplier of audience insights to the global marketing industry Globalwebindex has announced the appointment of James Scott to the newly created position of chief commercial officer, where he will champion the growth and scalability of the business. James will be responsible for [...]
Online-only banks set for growth spurt but questions over profit linger September 3, 2019 The UK’s digital-only banks are set to treble their sales in the year ahead, as they ramp up their efforts to challenge high street rivals and disrupt the retail lending market. Despite widespread concerns over their long-term profitability, fast-growing online lenders are on track to amass 35m new customers globally over the next 12 months, [...]
Retailers warned to ramp up contingency plans as sales growth slumps September 3, 2019 Retailers were warned to prepare for further political and economic turbulence as like-for-like retail sales growth dipped last month in the latest blow for the UK high street. Bricks and mortar sales, not including food products, decreased by 0.5 per cent on a like-for-like basis from August last year. Read more: Retail sales get surprise [...]