ASOS and Bonmarche in share price collapse March 25, 2019 By Graeme Evans from interactive investor. Investors in these two high-profile retailers ran for the hills following the latest trading updates. While ASOS (LSE:ASC) and Bonmarche (LSE:BON) operate in two very different retail worlds, the pair have plenty in common from an investor viewpoint after their December profit warnings were followed by more disappointment last [...]
Stores at risk as Majestic Wine plans ‘Naked’ rebrand March 25, 2019 The UK’s largest specialist wine retailer is to close stores and undergo a major rebranding, it revealed this morning, sending shares down in early morning trading. Read more: Regal results for Majestic Wine despite UK retail headwinds Majestic Wine has announced plans to shut a number of stores and rename itself under the "Naked Wine" brand [...]
Stocks for a durable ISA portfolio in the Brexit years March 24, 2019 By Edmond Jackson from interactive investor. With the Brexit outcome still uncertain, companies analyst Edmond Jackson picks five larger cap stocks and three AIM shares for a resilient ISA. Be aware how sentiment towards equities hinges currently on whether Brexit is "resolved" by way of "Soft" business-friendly outcome, or the UK leaves the EU without [...]
Mike Ashley makes fresh £100m bid to become Debenhams CEO by buying Magasin Du Nord March 22, 2019 Mike Ashley has made another attempt to install himself as Debenhams chief executive, with Sports Direct making a £100m offer for the department store chain's Danish business. In a statement Sports Direct said it would purchase the business, which was put up for sale last year, for £100m, "in order to assist Debenhams with its short term liquidity requirements". [...]
Thomas Cook to close 21 stores with more than 300 jobs at risk March 22, 2019 Thomas Cook has announced plans to close 21 stores across the UK as the travel company looks to streamline its retail network with the majority of holidays being booked online. Read more: Thomas Cook considers airline sale as losses hit £60m The closures will see the loss of 102 jobs across the country, with a [...]
City Moves for 22 March – who’s switching jobs at Rabobank, Legal & General and Exterion Media? March 22, 2019 Who’s on the move? Rabobank Rabobank, the global food, beverage and agribusiness bank, has appointed Thomas Levin as senior coverage banker in its global corporate clients team, based in London. Thomas brings more than 13 years of experience in corporate and investment banking. He joins from Mizuho Bank where he was responsible for originating M&A [...]
Investor confidence soars to 10-month high despite Brexit uncertainty March 21, 2019 Investor confidence hit a ten-month high in March despite ongoing uncertainty related to Brexit. The Hargreaves Lansdown Investor Confidence Index reached 80 points this month, recovering from a record low of 52 points in December, indicating that the UK’s withdrawal from the European Union is no longer tainting investor sentiment to the same extent. Read [...]
Bank of England holds interest rates amid Brexit deadlock despite sunnier economic data March 21, 2019 The Bank of England's monetary policy committee (MPC) has voted unanimously to hold interest rates at their current level of 0.75 per cent, after weighing up “mixed” economic data, it said today. Read more: Government borrowing falls to fresh 17-year low The central bank said it will not change its primary bank rate from where [...]
UK retail sales grow as consumers shrug off Brexit worries March 21, 2019 British retail sales showed strong growth last month compared to a year before, in a sign that consumers remain unaffected by the Brexit impasse. The quantity of goods UK shoppers bought increased by 0.4 per cent in February compared to January, with strong growth in non-store retailing and fuel, figures released today by the Office [...]
Game plays with higher profits to buck high street worries March 21, 2019 Profits soared at video game retailer Game’s parent company in the first six months of the financial year, even as revenue fell by nearly five per cent. The figures Game Digital’s profits before tax increased over 20 per cent to £14.8m, however gross profit contracted 1.2 per cent to £122m. Read more: Game shares boosted [...]