The Week Ahead: Brexit, ECB rates, Rolls Royce, Ocado and Airbnb IPO December 7, 2020 City A.M. takes a look ahead at the main events shaping the markets this coming week, analysing what is to come with City insider Michael Hewson, chief market analyst at CMC Markets UK. Monday: Ted Baker When Ted Baker announced in June it was looking to raise over £100m at a discounted price of 75p [...]
Retail giants urge Sunak to U-turn on abolishing VAT refund for tourists October 19, 2020 A group of 16 UK retail giants has urged Rishi Sunak to U-turn on his plan to abolish the VAT refund for international visitors from next year. The group – which includes the heads of Paul Smith, Ted Baker, The White Company, Fortnum and Mason and Charles Tyrwhitt – said abolishing the VAT refund would [...]
BDO becomes largest auditor of listed UK firms October 13, 2020 Challenger firm BDO now audits the highest number of listed UK companies as attempts to reform the sector sees companies move away from the Big Four. BDO, the UK’s fifth-largest accounting firm by revenue, gained 36 listed clients in the 12 months to October, according to Adviser Rankings, which collects auditor data. It now audits [...]
Ray Kelvin returns to Ted Baker after ‘forced hugging’ scandal September 2, 2020 Ray Kelvin has returned to Ted Baker roughly 18 months after a “forced hugging” scandal caused the fashion guru to step down from the company he founded. In a surprise announcement issued last night Ted Baker said it had signed a “relationship agreement” with Kelvin and had nominated a non-executive director to represent him on [...]
Brits spend £40bn on items to boost mood in lockdown July 23, 2020 Brits have spent £40.6bn on dispensable items during lockdown in a bid to keep themselves entertained while at home. Consumers spent an average of £771.34 each during lockdown, as retailers launched new products to capitalise on the demand for at-home experiences. Londoners spent the most during lockdown, amounting to 2812.26 per person followed by parents [...]
Londoners spark online shopping revolution during lockdown July 22, 2020 Londoners have catalysed an online shopping revolution, according to new research, after shoppers in the capital contributed the biggest spike in online sales in the UK during the Covid-19 pandemic. A new report by packaging firm DS Smith showed that 62 per cent of 2,000 Londoners surveyed increased their online shopping habits during lockdown, helping [...]
Eve Sleep shares soar as group posts strong revenue July 22, 2020 Shares in mattress maker Eve Sleep hiked as much as 45 per cent this morning as the group posted revenue ahead of expectations, after a spike in sales during lockdown. Eve reported group revenue of £12.2m for the six months to 30 June, as sales smashed expectations, buoyed by strong e-commerce sales and increased demand [...]
Tapestry chief executive quits after less than a year July 21, 2020 The chief executive of Tapestry, the parent company of luxury brands Coach and Kate Spade, has stepped down after less than a year in the job. Jide Zeitlin, who was also chairman, has today resigned from the New York-based firm, citing “personal reasons”. The Wall Street Journal, citing people familiar with the matter, said Tapestry’s [...]
Ted Baker shares spike as retailer reports Covid resilience July 21, 2020 Ted Baker shares swelled more than 10 per cent this morning, as the British fashion retailer reported a resilient balance sheet in the 11 weeks to 18 July, with strong online sales as shoppers were forced to turn to their screens during lockdown. The lifestyle brand saw a 35 per cent increase in e-commerce sales [...]
Ted Baker seeks £95m coronavirus rescue raise as it books £80m loss June 1, 2020 Fashion retailer Ted Baker today set out plans to raise £95m in rescue cash to fund its escape from the coronavirus crisis, as it revealed losses amounted to almost £80m last year. Ted Baker, which was hit by a scandal in 2019 after its founder quit over allegations of misconduct, is selling cut-price shares to [...]