M&B opens door to rebel appointments December 17, 2009 PUB and restaurant operator Mitchells & Butlers has invited the four candidates put forward to join its board by rebel shareholder Joe Lewis to meet with headhunters and its nomination committee. The operator of All Bar One and Harvester yesterday said the meetings would enable it to formulate its recommendations as to how shareholders should [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 13, 2009 THE SUNDAYS The Sundays Telegraph DEBENHAMS DIRECTORS GET BUMPER PAYOUTS Directors of Debenhams have received bumper payouts, despite the retailer cutting its dividend payment to shareholders last year. Rob Templeman, chief executive, saw his package increase by a third to £1.24m after he was granted a bonus of £428,073. Michael Sharp, deputy chief executive, saw [...]
Debenhams kicks off retail price war November 16, 2009 Debenhams yesterday announced it will be slashing £250m off prices in a four-day sale this week, in a move which it predicts will spark a price war similar to the frenzied discounting seen last Christmas. Rival Marks & Spencer’s executive chairman Sir Stuart Rose, said earlier this month he did not expect a repeat of [...]
OCH ZIFF SNAPS UP DEBENHAMS STAKE October 29, 2009 HEDGE fund Och-Ziff yesterday emerged as the buyer of TPG’s stake in department store chain Debenhams after the US buyout firm made its exit from the business earlier this week. Och-Ziff, one of the world's largest hedge fund managers, said it now owns 11.52 per cent of Debenhams, headed up by chief executive Rob Templeman.
TPG SELLS DEBENHAMS STAKE October 27, 2009 US private equity firm TPG has sold its remaining nine per cent stake in Debenhams for around £100m. The retailer, which is headed by chief executive Rob Templeman (pictured), also saw its other private equity investor CVC Capital sell down the majority of its stake back in June. The disposal of TPG’s stake leaves the [...]
Profits up at Debenhams October 22, 2009 Department Chain Debenhams reported a better-than-expected 14 per cent full-year pre-tax profit and saying it had cash for acquisitions. Disappointing retail sales data from the Office for National Statistics cast a shadow over Debenhams’ news that it had made a profit of £125.2m, driven by a strong demand for its Designers at Debenhams range. Sales [...]
Profits up at Debenhams October 22, 2009 Department Chain Debenhams reported a better-than-expected 14 per cent full-year pre-tax profit and saying it had cash for acquisitions. Disappointing retail sales data from the Office for National Statistics cast a shadow over Debenhams’ news that it had made a profit of £125.2m, driven by a strong demand for its Designers at Debenhams range. Sales [...]
HOW DID THE MARKET REACT TO DEBENHAMS’ RESULTS? October 22, 2009 KATHARINE WYNNE INVESTECWe believe the combination of positive margin trends, evidence of improving full price sales despite a highly promotional stance, and Debenhams’ brand mix – which allows customers to trade up and trade down within the range – should support a higher valuation. KEITH BOWMAN HARGREAVES LANSDOWNDebenhams has climbed a very steep hill, with [...]
Debenhams chairman set to step down October 18, 2009 DEBENHAMS chairman John Lovering is expected to announce he is stepping down from the high street retailer on Thursday when the group unveils its full-year results. Lovering’s departure from the chain last year has been speculated on since last year, but the famed deal-maker is believed to be making the jump now as the group [...]
The 10,000 mark means it’s time to short the Dow October 18, 2009 EQUITY bulls must have felt rather smug last week when the Dow Jones Industrial Average (DJIA) broke through 10,000 on the back of bumper profits from investment banks JPMorgan and Goldman Sachs. Good results from Google, Intel and IBM also added to the market optimism that has been fuelling the index’s meteoric rise. The third [...]