Carpetright bosses up their stakes in the company after sales drop October 26, 2016 Carpetright's chief executive Wilf Walsh and chief of finance Neil Page have bought shares in the company following a drop in sales at the retailer. Walsh and Page bought up 12,500 and 10,000 shares respectively. Read more: Carpetright says the pound's plunge is hurting margins The £25,000 purchase from Walsh brought his company shareholding to 53,778 shares, or [...]
Investors have launched a petition asking the government to sell Lloyds shares to the public October 26, 2016 It seems retail investors were counting on getting their hands on a slice of Lloyds Bank – after a company representing potential shareholders launched a petition asking the government to give the public a chance when it sells off its final stake. Earlier this month the government unveiled the details of its final sale of [...]
The Brexit vote fails to perturb Shoe Zone as its share price flies October 25, 2016 Discount retailer Shoe Zone's share price sprung over 15 per cent this morning after announcing that its cost-cutting measures had put it on track for a small increase in annual profits. In its pre-close trading statement, Shoe Zone said that it expects revenue for the year to be down by £6.8m at £160m, although this is primarily [...]
The devil you know, the devil you don’t: How to protect your investments whoever wins the US election October 25, 2016 As polling day draws near, it is regrettable that the contest to become the 45th President of the United States has been more about personality than policy. The campaign has been distinguished on one side by preposterous promises to suspend the entry of Muslims into the country and build a hard border with Mexico, and [...]
French Connection shares spike after weekend takeover rumours October 24, 2016 Ooh la-la. Shares in French Connection have jumped by 16 per cent this morning after rumours of a takeover bid emerged over the weekend. The struggling clothing retailer, which has made losses for five years in a row, is believed to be being eyed up by UK and US investors. Today it opened 7.5 points up at 39.5p [...]
Fenwick family takes out £5m dividend despite warning on new cost pressures October 23, 2016 The Fenwick family has taken a £4.8m from their department store chain while warning about the pressure government is placing on the retail sector. According to accounts for the year to the end of January 2016, the company's sales rose by 1.2 per cent in the past year, reaching £431.7m. Pre-tax profits were up by a quarter [...]
Debenhams’ boss in the spotlight over pension fund woes October 23, 2016 The new chief of Debenhams, Sergio Bucher, will be under the microscope for the first time this week when the company announces its full year results. Bucher joined the department store from Amazon, where he was vice president, and is under pressure to solve the question of Debenhams' growing pension scheme deficit. Analysts at Morgan [...]
Prom boom boosts Moss Bros’ retail sales, rather than just its hire division October 21, 2016 The chief executive of one the UK's oldest high street names said that a British prom boom was driving "fantastic" sales growth. Moss Bros boss, Brian Brick, said that 80 per cent of Britain's schools now have proms. And this wasn't just having a positive impact on its suit hire division, it was boosting sales in its larger [...]
Consumers feeling cheery ahead of the Christmas shopping season October 21, 2016 Consumer confidence is looking up ahead of the biggest quarter for retailers – the Christmas season. Consumers are shaking off the Brexit blues and feeling more positive about their earnings before Christmas, according to a report from PwC. PwC said 19 per cent of respondents in its consumer survey said they expect to be better off [...]
China’s Alibaba begins its countdown to the world’s biggest shopping day of the year – Singles’ Day October 20, 2016 Chinese e-commerce giant Alibaba has started the countdown to its shopping festival Singles’ Day, the world’s biggest sales event of the year. The retailer has promised consumers a bonanza of pop stars, fashion shows, and virtual reality to whip them into a spending frenzy. The annual celebration of being single – now in to its [...]