Online retail firms in trouble as punters turn back to the high street June 19, 2023 E-commerce retailers which were bolstered by Brits stuck at home during the pandemic are now going bust, a new report shows, as the cost of living crisis continues to eat away at businesses. The number of insolvencies of UK e-commerce businesses rose 71 per cent to 529 in the past year, up from 309 in [...]
FTSE 100 Live: London markets open higher as Travis Perkins issues profit warning June 16, 2023 FTSE 100 opened higher on Friday on a boost from energy and mining stocks, despite a profit warning from Travis Perkins.
Asos drive to turn “stock into cash” by buying less and flogging discounted old items June 15, 2023 Asos is buying less stock and ramping up sales of its current items in the latest efforts to boost profit, as the struggling online retailer steams ahead with its turnaround plan – posting a £20m rise in earnings. The fashion brand said it is on-track to deliver adjusted earnings before interest and taxes (EBIT) guidance [...]
FTSE 100 close: London markets rise ahead of Fed and ECB decisions this week June 12, 2023 London markets closed higher on Monday ahead of a big week for central banks, with the Fed, European Central Bank (ECB) and Bank of Japan all set for their latest interest rate decision. The capital’s premier index climbed 0.1 per cent to 7,570.69 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned [...]
Ashley’s empire grows: Frasers picks up nearly 20 per cent of retailer AO World June 12, 2023 Mike Ashley's Frasers Group has invested £75m in electronic retailer AO World, taking a stake of almost 20 per cent in the business.
Online shopping sales slump to lowest levels since before pandemic June 9, 2023 The cost of living crisis has hindered the online shopping sales boom with digital sales falling to their lowest levels since before the pandemic. The number of online sales fell by 3.3 per cent during May as punters, under the cosh, have had to cut down on the number of goods they buy from digital [...]
Asos suppliers cut ties amid struggling share price and profits June 7, 2023 Asos suppliers have reportedly begun to cut ties with the struggling fashion website following a move by credit insurers to pull cover amid falling profits, in a fresh knock of confidence for the brand. Leading creditors at Allianz Trade, formerly Euler Hermes, withdrew cover for suppliers last month, according to The Times, due to a [...]
Asos share price leaps after report of £1bn takeover bid June 5, 2023 Asos‘s share price jumped 11.8 per cent this morning after a report emerged yesterday that the struggling retail chain received a £1bn takeover bid from a Turkish retailer backed by Chinese e-commerce giant Alibaba. Trendyol, an up-and-coming fast fashion retailer, was understood to have approached Asos in late December, according to a report in The [...]
Asos approached in £1bn takeover bid by Turkish fast fashion peer June 4, 2023 A Turkish retailer backed by Chinese e-commerce giant Alibaba has reportedly offered a £1bn bid to take over Asos, in a fresh knock of confidence for the future of the digital fashion brand. Trendyol, an up-and-coming fast fashion retailer, was understood to have approached Asos in late December, when the brand was facing dwindling sales [...]
Simply Be and Jacamo owner hopes for a rebound after bumpy few months June 4, 2023 Investors in online retailer N Brown will be looking for signs of recovery in its full year results this week after the firm paid out a hefty legal settlement and has struggled amid a broader slowdown in consumer spending. N Brown, which owns brands such as Simply Be and Jacamo, reported a 7.6 per cent [...]