Superdry shares plunge on profit warning blamed on hot weather and foreign exchange October 15, 2018 Shares in Superdry plunged this morning after the fashion retailer announced a £23m profit warning, which it blamed on hot weather and foreign exchange problems. The Cheltenham-based company saw shares drop as much as 20 per cent to 788p following the trading update, published ahead of its half-year results next month. Read more: Superdry hires former Tommy [...]
Why technology won’t transform every brand’s Fashion Week October 15, 2018 Now that this year’s Fashion Weeks in London, Milan, New York, and Paris have all come to a close, many people are questioning the role of a runway show in today’s age, and whether it could be brought into the twenty-first century. Some brands are embracing the latest technology to satisfy modern consumer demands by making [...]
‘Waitrose of the north’ posts £2.2m sales loss amid trading pressures October 15, 2018 Booths, the Lancashire-based supermarket chain dubbed “the Waitrose of the north” for its focus on high-quality food, posted a £2.2m loss on sales but cut its overall losses in half, its latest results revealed. The family-owned-and-operated supermarket, which has 28 stores across Lancashire, Yorkshire, Cumbria, Cheshire and Greater Manchester, saw its losses before taxation fall [...]
Boots revenue falls as beauty faces ‘a challenging year’ October 12, 2018 The parent company of Boots has blamed a drop in UK pharmacy funding for its lacklustre final quarterly results, after sales at the health and beauty specialist dropped amid retail's difficult trading environment. Walgreens Boots Alliance said fourth quarter sales in its international retail pharmacy division, which houses Boots UK, fell 1.9 per cent from [...]
Game Digital appoints former House of Fraser director as new finance chief October 12, 2018 Video game retailer Game Digital today confirmed former House of Fraser finance director Ray Kavanagh as the firm's new chief financial officer (CFO), while the business heads for a strategic turnaround. He was previously the director of finance at troubled department store chain House of Fraser for eight years, as well as a company board member [...]
Karen Millen buys Coast after collapse but 300 jobs still at risk October 11, 2018 Fashion retailer Coast has collapsed into administration, putting an estimated 300 jobs at risk. Retail rival Karen Millen has bought the brand’s website and UK department store concessions, it announced this evening, however all 24 stand alone Coast outlets and European concessions will close. Read more: Retail sales growth slumps after bumper summe A total of [...]
N Brown shares plunge as ‘disappointing’ offline sales hit revenues October 11, 2018 Fashion retailer N Brown took a kicking from investors at the opening bell this morning, as its share price dived more than 20 per cent amid a “disappointing” set of results. The JD Williams and Simply Be owner revealed a drop in product revenue during the six months to 1 September, as offline sales dragged [...]
Dunelm high street stores grow, but are outstripped by online boom October 11, 2018 Shares in Dunelm rose almost six per cent in early trading as the company showed strong growth online despite closing three websites. Like-for-like revenue grew 4.2 per cent year-on-year in store and online in its first quarter, but group takings remained flat after it shut down three websites earlier this year. Although in-store and online growth [...]
The Scotsman publisher Johnston Press puts itself up for sale as it tries to tackle huge £220m debt pile October 11, 2018 Struggling publisher Johnston Press’s share price dropped over seven per cent today on the news that it was putting itself up for sale. The newspaper group behind the ‘i’ newspaper, The Scotsman and the Yorkshire Post, amid 200 regional titles, has a towering pile of debt totalling £220m that it must pay off by 1 June [...]
Alibaba billionaire Jack Ma named China’s richest man October 10, 2018 Alibaba founder Jack Ma has been named as the richest man in China for the second time in recent years after his wealth rose more than a third to $39bn (£29.6bn). Ma last topped the Hurun rich list in 2014 but has regained his position at the top after a new round of investment in [...]