JD Sports sells Bank to Hilco November 25, 2014 SHARES in JD Sports surged 3.7 per cent yesterday after the group said it had sold its loss-making fashion business Bank to focus on its other sportswear brands. The retailer said restructuring specialist Hilco Capital had bought Bank for an undisclosed sum via one of its subsidiaries. The sale should help to recover a substantial [...]
Sir Philip Green shrugs off profit slide at Arcadia November 25, 2014 SIR PHILIP Green shrugged off Arcadia’s decline in full-year profits yesterday, insisting his retail empire was adapting to the “fast-changing” demands of the retail industry. The company behind Topman, Miss Selfridge, Dorothy Perkins, Burton and Wallis as well as Topshop, posted a 3.4 per cent drop in pre-tax profits to £143.1m in the year to [...]
Black Friday UK 2014: John Lewis gears up for weekend shopping frenzy as sales growth slows November 25, 2014 John Lewis said yesterday it was gearing up for this weekend’s shopping frenzy that begins with Black Friday, as sales growth slowed over the past week. Sales in the week ending Saturday 22 November rose to £114.2m, 2.1 per cent up on the same period last year and a five per cent rise on the [...]
Home Retail and TfL take Argos underground at Cannon Street Tube station November 25, 2014 Commuters will now be able to pick up everything from laptops and televisions to furniture as they hop on the Tube after Argos launched its first Underground store yesterday. The retailer’s parent company Home Retail Group has signed a partnership with Transport for London to open a store “the size of a large family kitchen” [...]
City Moves for 26 November 2014 | Who’s switching jobs November 25, 2014 Standard Chartered Euan Campbell has been appointed to the newly-created role of global head of retail segments for retail clients at the bank. He joins from Santander Group, where he was executive vice president responsible for the strategic direction of its US cards business. Campbell has also held senior roles at HSBC. Cordea Savills The [...]
Sir Philip Green shrugs off profits drop at Topshop parent group Arcadia November 25, 2014 Sir Philip Green has shrugged off Arcadia's decline in full year profits, highlighting how the Topshop parent group is adapting to the “fast changing” demands of the retail industry. The group, which owns Topman, Miss Selfridge, Dorothy Perkins, Burton and Wallis as well as Topshop, reported a 3.4 per cent drop in pre-tax profits [...]
JD Sports Fashion shares rise after group offloads troubled fashion arm Bank to Hilco November 25, 2014 Shares in JD Sports Fashion jumped more than 4.3 per cent this afternoon, as the retailer confirmed it had sold its struggling fashion arm Bank. Restructuring specialist Hilco Capital has bought the business for an undislosed sum through one of its subsidiaries. JD Sports Fashion said the move “should result in a substantial recovery [...]
Black Friday and Cyber Monday 2014: Could Manic Monday beat both to become the biggest retail day of the year? November 25, 2014 With Black Friday bargains from the biggest retailers including Amazon, John Lewis, Marks & Spencer and Currrys PC World, UK shoppers are expected to go hell for leather in the lead up to Christmas this year. But two firms are fighting against the consensus that says Black Friday and Cyber Monday will see us [...]
AO World revenue rises 25 per cent on improved website sales November 25, 2014 Online white goods retailer AO World said total revenue rose 25.1 per cent to £384.9m in the six months to September 30. The retailer, which launched its IPO in February, said website sales increase by 38.6 per cent during this period to £173.7m. This was offset slightly by third-party website sales, which fell 11 per cent, [...]
B&Q owner Kingfisher reports falls in revenue and profit November 25, 2014 Kingfisher’s new French chief executive, Veronique Laury, faces a tough task to arrest the tumbling sales in her home country which are taking their toll on the FTSE 100 company. In its third quarter results the B&Q and Screwfix owner Kingfisher recorded a 3.6 per cent drop in sales to £2.8bn, while retail profit [...]