Majestic Wine ‘in advanced talks’ over sale of retail arm June 13, 2019 Majestic Wine announced it was in advanced talks with multiple bidders over the sale of 200 stores as it focuses on its online business. The company plans to spin off the Majestic Retail and Commercial arm and focus on its Naked Wines brand, which has a “greater potential for growth”. The figures In the year [...]
Activist investor Elliott launches audacious bid for Majestic Wine stores June 12, 2019 Activist investor Elliot has launched a bid for 200 Majestic Wine stores as the retailer switches its focus from the high street to online. US-based Elliot has pitted itself against private equity firm OpCapita and Fortress, the investment group owned by Japan’s SoftBank, in the sale, in which Majestic is hoping to recoup £100m. Read [...]
Can Amazon really be a climate change champion? June 12, 2019 Amazon is not a company normally associated with meaningful strides towards a low carbon future. Although e-commerce is typically better for the environment than heavily air-conditioned, high street stores, speedy deliveries carry a high carbon cost. Any Amazon shopper may feel a pang of guilt – as I have – at using the one day delivery [...]
Zara owner Inditex boosts sales with rapid online expansion June 12, 2019 Zara owner Inditex defied a weak retail market to boost sales at the beginning of the second quarter as its global expansion gathered pace. The world’s biggest clothing retailer bounced back from a weak start to the year, damaged by cold weather, reporting a 9.5 per cent sales jump in the period from 1 May [...]
Is gold making a comeback? June 12, 2019 A rise in the price of gold has coincided with a renewed interest in the role of bullion as a monetary asset. Eclipsed since the early Seventies by paper assets and, occasionally, even cryptocurrencies, gold is once again heralded as a risk-free asset with three huge plus points. These are that it is universally acceptable, that it [...]
Fast fashion: Boohoo bucks high street gloom with soaring revenue June 12, 2019 Fast fashion retailer Boohoo has again defied a gloomy retail sector, reporting 39 per cent sales growth in the last quarter. The firm’s offering, of selling cheap own-brand clothing and accessories online, has chimed with younger consumers in recent years. Boohoo’s rise comes at the same time as high street rivals such as Topshop fight [...]
Ted Baker shares slide as retailer warns on profits in ‘difficult trading conditions’ June 11, 2019 Ted Baker’s share price plunged 25 per cent this morning after the fashion retailer warned on profits amid “extremely difficult trading conditions”. The company said underlying profit before tax for the year ending 25 January 2020 is likely to be between £50m to £60m, compared to a company compiled consensus of £70.9m. Read more: Ted [...]
Auto Trader bullish on growth prospects June 10, 2019 Amid fears of a slowdown in UK car sales, our head of markets talks us through the big numbers. This sparkling set of annual results from Auto Trader (LSE:AUTO) is tainted only by a more guarded outlook from the company, implying that a repetition of the numbers is unlikely. The majority of the metrics reflect Auto Trader’s [...]
High street retailers take hit from drop in footfall June 10, 2019 High streets, retail parks and shopping centres all suffered a year-on-year drop in footfall last month, according to new figures which underline the tough trading conditions facing bricks and mortar firms. The number of shoppers plunged by 3.5 per cent in May, compared with a drop of 0.4 per cent during the same month last [...]
Beyond Meat shares surge a day after debut results June 7, 2019 Shares of plant-based burger startup Beyond Meat surged 27 per cent in pre-trading, a day after it debuted its earnings as a listed company. The company estimates that it will double its sales this year as consumer interest in plant-based meat alternatives peaked in the first three months of the year. Shares rose to $131.50 [...]