Angling Direct accelerates online sales growth and eyes reopening physical stores May 12, 2020 Angling Direct has reiterated its guidance after “encouraging” levels of trading across the firm’s online stores amid the coronavirus outbreak. Online sales in April were up 24 per cent year-on-year with a “further acceleration of these trends experienced in May 2020 to date.” Additionally, the retailer said investment in Angling Direct’s French, German and Dutch [...]
Coronavirus: Everything is set to change May 12, 2020 It’s no real surprise that the eagerly awaited unveiling of the plan to get back to normal turned out to be such a litany of vagueness. This is a government that has always been more comfortable talking about what it doesn’t want to see happen than laying out actual plans. But behind the obfuscation, the [...]
Analysis: Can Disney Plus rescue the House of Mouse? May 6, 2020 Disney last night laid bare the extent of the damage from the coronavirus crisis, which has sent shockwaves through all parts of the entertainment giant’s business. Chairman Bob Iger warned of “unprecedented challenges” as the company reported a $1.4bn (£1.3bn) hit to first-quarter operating income. With lockdown shutting down its theme parks, cruises and its [...]
Competition watchdog blocks JD Sports’ £90m takeover of Footasylum May 6, 2020 The competition watchdog has provoked a furious response from JD Sports after blocking the retailer’s £90m takeover of rival Footasylum. Following an in-depth investigation, the Competition and Markets Authority (CMA) ruled the tie-up would lead to a “substantially” lessening of competition nationally. As a result, consumers would be left with fewer discounts and could receive [...]
Mike Ashley’s Frasers Group misses out on coronavirus loan, settles Belgian tax bill April 24, 2020 Mike Ashley’s Frasers Group’s application for a coronavirus loan has been rejected, it admitted today, as it finally settled a €674m (£588m) Belgian tax bill. Frasers Group (formerly Sports Direct) saw it application for a government bridging loan denied, sending shares down 2.4 per cent. The Covid Corporate Financing Facility (CCFF) scheme is open to [...]
BeIN Sports urges Premier League to block Saudi bid for Newcastle April 22, 2020 Broadcasting giant BeIN Media has urged the Premier League to block a proposed £300m Saudi takeover of Newcastle United amid concerns about “industrial scale” piracy. Newcastle owner Mike Ashley is said to be on the brink of accepting a takeover offer from a consortium backed by Saudi Arabia’s sovereign wealth fund. However, the chief executive [...]
RSM elects new chief executive as Grant Thornton cuts wages April 21, 2020 Challenger accountancy firm RSM last night elected a new chief executive after a marathon virtual general meeting while rival Grant Thornton slashed wages to help survive the coronavirus crisis. RSM announced last night shortly before midnight that former corporate finance head Rob Donaldson had claimed the top job. The Telegraph reported that Donaldson saw off [...]
Kurt Geiger: Customers will remember retailers’ coronavirus response April 17, 2020 Businesses that protect employees and support the NHS during the coronavirus pandemic will be rewarded by customers when the crisis is over, according to Kurt Geiger’s chief executive. “Customers will remember who has done the right thing, and who maybe hasn’t, and we want to be on the right side of that when we come [...]
Compassionate capitalism can underpin our coronavirus recovery April 17, 2020 This Covid-19 coronavirus crisis could all be over by autumn. Or by this time next year. We simply do not know. What we do know, however, is that we will need to think carefully and radically about how this country is going to recover from the devastation left behind by the coronavirus pandemic. This pandemic [...]
Coronavirus: Sports Direct-ly to a negative reaction April 15, 2020 Sports Direct recently attempted to keep its stores open despite the Government’s COVID-19 lockdown – arguing that, with gyms closed and Brits stuck indoors, exercise equipment counts as an essential service. YouGov polling reveals that the public overwhelmingly disagrees. Some 95% of Brits believe that sports equipment stores are not key services, and just 3% [...]