Sports Direct’s share price rises after increasing US exposure with stake in Dick’s Sporting Goods and increased holding in Umbro parent Iconix January 13, 2016 Mike Ashley's Sports Direct has increased its stake in Umbro's US owner Iconix Brand Group and taken a holding in US retailer Dick's Sporting Goods, flexing its international muscles further. Sports Direct now owns just over 11.5 per cent of Iconix, which bought Umbro in 2012, having built up a position in the business since November. The retailer, which [...]
Mike Ashley splashes the cash: Newcastle smash own transfer spending record as Jonjo Shelvey joins for £12m from Swansea January 12, 2016 Newcastle United's transfer spend for the season has reached £64m following the £12m purchase of Jonjo Shelvey from Swansea – the largest total spend for a single season in the club's history. Having made just £3.5m from player sales so far this campaign, Newcastle also currently have the Premier League's second highest net spend at [...]
UK retail sales: Christmas brings little cheer to retailers January 12, 2016 Christmas brought little cheer to UK retailers in December as hopes of a boost to sales from higher consumer confidence fell flat. The British Retail Consortium (BRC) and KPMG’s latest monthly index shows like-for-like retail sales rose by 0.1 per cent from December 2014, when they had decreased 0.4 per cent. Total sales were up one [...]
At the close: FTSE 100 index falls further to cap off a bad week January 8, 2016 The FTSE 100 index fell again on Friday, finishing just under 6,000 to cap off a bad week, as concerns over the Chinese economy continued to weigh. "A turbulent start to 2016 has seen investors adopting the brace position, as a combination of factors have driven global markets lower," Richard Hunter, head of equities at Hargreaves Lansdown, said. "With [...]
China cracked, Bolland bowed out and Dry January got drier: Here’s what got us talking this week January 8, 2016 The Jetsons' family car got a bit closer to reality, and a base-jumper around Canary Wharf gave us all vertigo while Donald Trump got punchy over the impending Commons debate on whether he should be banned. Here's what got us talking this week How low can yuan go? (Source: Getty) 1) China cracked Stock markets were suspended twice [...]
FTSE 100 index remains under 6,000 mark as fears over the Chinese economy linger January 8, 2016 After the FTSE 100 index faltered in late morning trading, it has rebounded back towards the gains it made at the open – but still remains below the 6,000 mark. The rebound comes as concerns over weakness in the Chinese economy continue to weigh on European markets. The UK's blue-chip index rose 0.44 per cent to 5,979 points in early afternoon [...]
Sports Direct’s share price slumps 15 per cent on profit warning January 8, 2016 Sports Direct has issued a profit warning, claiming warm weather deterred shoppers over the key Christmas period, prompting its share price to tumble. The Mike Ashley-owned retailer, which has been fending off criticism around its various working practices, issued a statement this morning saying it had "seen a deterioration of trading conditions on the high street and [...]
With Marks and Spencer’s CEO Marc Bolland bowing out, odds shorten on the City’s retail boss departures January 7, 2016 So M&S boss Marc Bolland has finally stepped down, after years of pressure – but who thought his departure would be revealed just seven days into the New Year? At the very start of this week The Capitalist brought you odds on The 2016 Sack Race, including the 4/5 that was available on Marks’ Dutch [...]
Sainsbury’s should focus on its core offer January 6, 2016 Sainsbury's and Home Retail Group do not at first glance appear obvious bedfellows. If perceptions count for anything, and they do in retail, then Sainsbury’s is very much a supermarket that attempts to cater for the British middle class. Home Retail Group’s Argos doesn’t. But for both the high street and supermarkets, these are desperate [...]
Sports Direct clarifies property boss Michael Murray’s role after reports surface of close family ties and no experience January 4, 2016 Sports Direct has been forced to issue a clarification around the role of Michael Murray at the company, after reports surfaced that he was a relatively inexperienced boyfriend of one of Mike Ashley's daughters. The 26-year-old has been hired to head up Sports Direct's property empire – no small task given that the retailer has 470 [...]