Carpetright shares: Undervalued or overexcited? July 1, 2019 By Graeme Evans from interactive investor. Carpetright’s peak trading period straddles the next Brexit deadline, but speculators are not put off. Carpetright (LSE:CPR) and its threadbare share price drew interest from speculative investors last week amid signs that the drastic measures needed for its survival are starting to pay off. While early days in the turnaround, the floor covering [...]
Apple’s tax bill slashed by more than half June 30, 2019 Apple’s tax bill for its chain of 38 stores across the UK more than halved last year, despite an EU mandate to pay back taxes and interest amounting to €14bn (£12.5bn). The Californian tech giant’s retail arm paid just £3.8m in tax in the 12 months to the end of September last year, falling from [...]
Creditors prepare to vote on Monsoon Accessorize rescue plan June 30, 2019 Creditors will decide the fate of Monsoon Accessorize this week as they vote on the company’s rescue plan, which includes proposals to slash rents at more than half of its leased stores. Last month the retailer launched a company voluntary arrangement (CVA), which outlined plans to cut rent at 135 of Monsoon and Accessorize’s 258 [...]
City lookahead: Analysts forecasting drop in sales at Sainsbury’s June 30, 2019 Sainsbury’s is expected to reveal a dip in sales when it posts its quarterly results later this week, as a spell of poor weather and an increasingly competitive retail market weighs on the supermarket giant. The grocery chain is forecasted to post no improvement in its sales on Wednesday, underlining the firm’s current challenges in [...]
French Connection extends sale deadline June 28, 2019 French Connection has extended the deadline to complete a sale as the retailer confirmed it was in talks with a number of interested parties. The fashion brand had expected to close the deal in the first half of this year but has now pushed the date back to September. Read more: Sales fall again at [...]
Supermarkets prepare for bumper weekend during UK heatwave June 28, 2019 Supermarkets are preparing for bumper sales this weekend as shoppers stock up on rose wine, sun cream and barbecue food, with temperatures expected to soar during a UK heatwave. Londoners could bask in temperatures of up to 32 degrees tomorrow following a soggy start to the summer. Read more: Cold weather dampens May retail sales [...]
City Moves for 28 June – Who’s switching jobs? June 28, 2019 Today’s City Moves includes Nomura, KPMG and City A.M. Nomura Nomura Asset Management has announced Ben Sackitey has joined the Europe, Middle East and Africa (EMEA) distribution team as business development director, focusing on UK wholesale, having previously spent seven years at Jupiter Asset Management. He will be supporting Nomura UK’s strategy to develop its [...]
UK fashion brand Karen Millen hoists for sale sign June 27, 2019 British fashion brand Karen Millen is set to be sold by its Icelandic owners. Sky News reported that advisers to Kaupthing, one of the Icelandic banks that collapsed during the financial crisis, are set to begin formal talks with potential bidders for Karen Millen in the next few days. The sale process is being led [...]
Boots posts drop in UK quarterly sales amid tough trading conditions June 27, 2019 The parent owner of Boots, Britain’s largest chain of chemists, has posted a drop in UK quarterly sales amid challenging high street conditions. Walgreens Boots Alliance (WBA) posted a 1.6 per cent drop in sales during the three months to the end of May, spurred on by a one per cent decline in its troubled [...]
Europe heatwave 2019: Temperatures soar above 40C as Sahara bubble engulfs continent June 27, 2019 A heatwave currently engulfing Europe has seen temperatures reach record highs. Germany, Poland and the Czech Republic all experienced their highest-ever temperature recorded for June on Wednesday and there is little sign of the heat abating as the weekend approaches. Other countries, such as France and Switzerland, are expecting temperatures to surpass 40C (104F) on [...]