Retail CEO turnover spikes in challenging year for sector February 3, 2020 Retail chief executive turnover reached a seven-year high in 2019 as the sector faced one of the toughest 12 months on record. The rate of chief executive churn increased 25 per cent on the previous year as the retail industry struggled with low consumer confidence, Brexit uncertainty, changing shopping habits and rising overheads. The latest [...]
Not as easy as 1,2,3: Seven accounting errors that rocked FTSE firms January 22, 2020 Ted Baker today experienced the dubious honour of joining a list of FTSE firms that have been shaken by accounting errors in the past year. The fashion retailer revealed an accounting error was more than twice as bad as it previously thought, knocking shares down seven per cent. But it is by no means the [...]
Saga takes £4m hit from Thomas Cook collapse January 28, 2020 Over-50s insurer Saga has said underlying profit before tax will meet expectations despite the company taking a £4m hit from the administration of Thomas Cook. However, it warned home and motor insurance policies will pull in revenue three per cent lower than the previous year. But margins will still hit the higher end of Saga’s [...]
Superdry’s share price skyrockets after announcing a second special dividend off the back of a bumper year July 5, 2018 British fashion retailer Superdry has announced its second special dividend in two years, after delivering double digit growth in sales and profits in its full year results. The group is issuing a full year ordinary dividend of 31.2p per share at an increase of 11.4 per cent, coupled with a special dividend of 25p per [...]
PZ Cussons chief executive quits as ‘challenging market conditions’ hit UK profit December 12, 2019 The chief executive of PZ Cussons has called time on his 13-year reign at the consumer healthcare manufacturer, as the company blamed “challenging market conditions” for a decline in first-half profit. Alex Kanellis said he would retire from the role on 31 January after being with the firm since 1993, and chief executive since 2006. [...]
Take me back says Superdry founder as he slams clothing company’s ‘disastrous eight months’ October 21, 2018 Superdry's co-founder has said the business is being led in the wrong direction after a poor start to the year which has seen shares plunge. Julian Dunkerton, who left the clothes store’s board in March, said he wants to return to help the struggling businesses fortunes after a “disastrous eight months.” Read more: Superdry shares [...]
Why high street discounts are a dangerous drug December 17, 2019 Retailers love to brag about breaking records, but one they won’t be cheering this Christmas is the prediction that price cuts could potentially top 50 per cent for the first time ever. Amid a fierce fight to woo last-minute shoppers into their stores, high street chains are once again turning to a festive sales bonanza [...]
Dunelm shares slump despite revenue growth October 10, 2019 Shares in Dunelm dropped more than eight per cent this morning despite reporting growth in the first quarter, following a string of positive trading updates this year. Total like for like revenue grew 6.4 per cent to £255.6m, with a 34.7 per cent increase in online sales. In-store revenue was up 2.9 per cent to [...]
Superdry co-founder Julian Dunkerton gives £1m to anti-Brexit campaign August 19, 2018 Julian Dunkerton, co-founder of the fashion label Superdry, has given £1m to the People's Vote campaign, a group with cross-party support that has called for a second public vote on any Brexit deal. The donation is the largest ever received by the campaign group, and is expected to go towards funding opinion polls to rally [...]
Goldman prepares to take iQ public in £2bn float September 8, 2019 The chair of Aston Martin, who has overseen a quartering of its share price since listing last year, is preparing to hit the markets with another firm. The owners of iQ Student Accommodation, which is chaired by Penny Hughes, are planning to take the company £3.5bn worth of assets public, Sky News reported. Goldman Sachs [...]