Mothercare shares fall as it delays full-year results due to their ‘complexity’ May 23, 2019 Global retailer Mothercare’s shares have fallen this morning after it delayed the publishing of its full-year financial results results due to their “complexity”. Read more: Mothercare suffers another drop in UK like-for-like sales The company, a global retailer for parents and young children which has struggled amid a declining high street, released a statement today [...]
Arcadia to shut two dozen stores and withdraw from the US in radical rescue plan May 22, 2019 Sir Philip Green’s retail empire Arcadia will shut almost two dozen stores and slash up to 500 jobs as part of a restructuring plan revealed today. The high street stalwart said it has launched seven company voluntary arrangements (CVA) as part of a desperate plan to turn around its ailing fortunes amid torrid trading conditions. [...]
Four key things we learned from Marks & Spencer’s results May 22, 2019 There were not expectations of a strong set of results from Marks & Spencer today. The profit drop was expected and profit before tax of £532m was actually in the higher end of the forecast range. However, a share price decline of four per cent shows that these were still a disappointing set of results for investors. [...]
Pets At Home shares rise as profits plummet almost 40 per cent amid restructure plan May 22, 2019 Pets At Home saw profits plunge almost 40 per cent last year as it set aside more than £40m for a huge restructure programme, it revealed today, but the set of results still beat low market expectations to send shares climbing. Read more: Short sellers tailing off at Pets at Home The figures Profit before tax [...]
SSE falls ‘well short’ of hopes, chairman admits as thousands of customers flee May 22, 2019 The chair of energy giant SSE today said his company’s results “fell well short” of what the board had hoped, in a year when 550,000 customers left the business. The company also created a board of directors for its retail arm, saying it wants to spin the unit off by the second half of next year. [...]
City Moves for 22 May – Who’s switching jobs at Neuro-Insight, Cushman & Wakefield and Airship? May 21, 2019 Today's City Moves include Neuro-Insight, Cushman & Wakefield and Airship. Neuro-Insight Neuro-Insight, a neuromarketing and neuroanalytics company that uses unique brain-imaging technology to measure how the brain responds to communications, has promoted Shazia Ginai to the role of UK chief executive. She will replace the current UK chief executive, Heather Andrew as she steps down [...]
Profit slips nearly 20 per cent at Topps Tiles in first half May 21, 2019 Topps Tiles said profit before tax fell nearly 20 per cent in the first half of its financial year. The specialist tile retailer said revenue slipped 0.2 per cent to £110.3m and profit before tax fell 18.8 per cent to £5.2m. Basic earnings per share fell 24 per cent to 2.03p. Read more: Topps Tiles recovers [...]
Falling rents help Shoe Zone walk to a profit in tough time for high street May 21, 2019 Falling rents helped UK value footwear retailer Shoe Zone hold steady in its interim half-year results, released today, in a tough trading environment. Read more: Shoe Zone shares soar as retailer posts record profits The figures The company’s profit before tax rose marginally to £1m in the half year ended 30 March. Shoe Zone’s revenue [...]
WH Smith chief executive to leave in October May 21, 2019 The boss of WH Smith is set to step down later this year after 15 years with the British retailer. Stephen Clarke will leave the role of chief executive at the end of October to be replaced by Carl Cowling, the managing director of the firm’s high street business, at the start of November. Read [...]
City Moves for 21 May – Who’s switching jobs at Cazoo, Invesco and Headland? May 21, 2019 Today's City Moves includes Cazoo, Invesco and Headland. Cazoo Cazoo has announced Alex Gersh, formerly chief financial officer (CFO) of Paddy Power Betfair, has joined as its first CFO. Having raised over £30m late last year, Cazoo is seeking to transform the used car market in the UK. Alex joins Cazoo after spending 6 years [...]