French Connection is facing a rebellion from an activist shareholder demanding the end of the FCUK brand July 31, 2016 French Connection is facing rebellion from an activist shareholder who has built up an eight per cent holding and is reported to want the retailer to drop its famous FCUK branding. Gatemore Capital Management has criticised French Connection’s performance since 2008, according to the Sunday Times, and urged founder Stephen Marks to split his joint roles [...]
SuperGroup’s share price soars 12 per cent as it shrugs off high street blues to post double-digit growth May 12, 2016 SuperGroup's share price soared more than 12 per cent in early trading, after reporting double-digit growth for the full year. The figures Group revenues at the SuperDry parent company rose 21.1 per cent to £589.5m for the full year to 23 April, with sales at the retail division climbing 24.5 per cent with "broadly equal contributions [...]
BHS administration “more significant than Woolworth’s” as cost to taxpayer stacks up April 26, 2016 The collapse of BHS could be "more significant than Woolworths" – and the business is unlikely to survive in any meaningful form, experts have told City A.M. Parent company Retail Acquisitions called in administrators Duff & Phelps yesterday afternoon, a year after buying the debt-laden business from Sir Philip Green for £1. Managing directors Phil [...]
BHS is in administration: Here’s what analysts say was to blame (and what the future holds) April 25, 2016 BHS is in administration having notched up £1.3bn in debt, it has been confirmed this afternoon. Duff & Phelps has been appointed to handle the iconic retailer's administration, with managing directors Phil Duffy and Benjamin Wiles sounding confident about finding a new buyer. City A.M. understands more than 30 enquiries have already been made, and now [...]
SuperGroup shares jump 12 per cent as profits beat expectations December 16, 2015 Shares in fashion retailer SuperGroup, the maker of Superdry clothing, have soared by nearly nine per cent after unveiling a better-than-expected 54.4 per cent rise in profits. The group made an underlying pre-tax profit of £19.3m in the 26 weeks to 24 October, with revenue up 22.3 per cent to £254.7m. Excluding its ailing North [...]
Supergroup and Serco: Best of the Brokers for 16 December 2015 December 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SUPERGROUP Fashion retailer Supergroup saw shares plummet after a note from Liberum downgrading its rating from “buy” to “hold” with a target price of 1,500p. The broker cited concerns over competition and excess inventory for the company’s label Superdry, which had led to [...]
FTSE 100 hopes for Santa rally after week of decline -London Report December 14, 2015 This week the market is looking to put aside last week’s pain, which saw the FTSE dip below the 6,000 mark again, as it prepares itself for a much heralded interest rate rise from the US Federal Reserve. Don’t bet on anything other than volatility, however, with markets already nervous about what surprises a change [...]
SuperGroup sales up 22.4 per cent – but chief executive Euan Sutherland warns over Christmas November 5, 2015 SuperDry parent company SuperGroup has reported a strong first half, but warned that Christmas could be a challenge with strong comparatives to beat. The figures The business has performed well in the first half to 24 October, with sales up 22.4 per cent across the group. The retail division drove much of the growth, up 30.9 per [...]
Best of the Brokers for 15 September 2015 September 15, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com KIER GROUP Jefferies continued to hold Kier group as their top pick in the construction sector ahead of its full year results on Thursday and expects the construction and property services provider to deliver profits before tax of £84.7m, in line with expectations. [...]
Sand landmarks at St Paul’s Cathedral August 20, 2015 ENOUGH with the sand. Despite the sub-par summer, London has an obsession with beaches this year – now sand sculptures are being built at St Paul’s. A different world landmark is being chiselled each day, marking the launch of travel company Lonely Planet’s Ultimate Travellist guide. So far we’ve seen the pyramids of Egypt and [...]