Revolution Beauty to make stock market debut July 13, 2021 Revolution Beauty are plotting a float on London’s alternative markets valuing the company at nearly half a billion pounds. The float has received strong support from shareholders and was significantly oversubscribed, the UK-based firm said this morning. Read more: Asos enters deal with Nordstrom to bolster Topshop’s US presence Adam Minto, the beauty firm’s boss [...]
Economy shows green shoots of recovery as dividends fall at slowest rate in a year April 26, 2021 UK dividends fell at their slowest rate in the first quarter in an encouraging sign the economy is starting to recover from the worst of the pandemic. Payouts fell 26.7 per cent to £12.7bn in the first quarter year-on-year, according to Link Group’s latest Dividend Monitor. Since the nearly 50 per cent drop in payments [...]
Amazon, Starbucks and Ikea among retailers demanding new laws against violence in shops July 4, 2021 A total 100 of the UK’s major retailers, including Aldi, Costa and Primark, have called upon the Prime Minister to help tackle escalating abuse and violence against retail workers. In a letter to Boris Johnson, the retailers asked him to support an amendment to the Police, Crime and Sentencing and Courts Bill that they believe [...]
European markets tank on toxic mix of threats October 6, 2021 European markets tanked today, driven by a toxic mix of mounting “stagflation” fears, looming rate hikes and soaring energy costs. London was among the worst performers as investors mull whether the British economy could be barrelling toward a biting bout of “stagflation” that would squeeze businesses. The capital’s premier index plummeted 1.28 per cent to [...]
Selfridges put up for sale with £4bn price tag June 10, 2021 The billionaire owners of Selfridges are considering selling the iconic department store group, with bids expected to top £4bn. The Weston Family has lined up advisers at Credit Suisse to advise on a potential sale after receiving an unsolicited takeover approach, React News reported. It is understood offers in excess of £4bn are likely to [...]
Primark store expansion plan offsets sales slump September 9, 2019 Primark is expected to report sales growth in its full-year results driven by the bargain retailer’s store expansion plan. Sales for the full-year, which will be announced in November, are expected to be four per cent up on last year, the retailer’s owner Associated British Foods (ABF) said in a trading update this morning. The [...]
Tesco and ASOS call for legal crackdown on human rights abuse October 22, 2021 Tesco and ASOS are among more than 30 retail businesses and investors have called for a new UK law to prevent human rights abuse. Some 36 household names – including Primark and John Lewis – have issued a joint statement calling for fresh human rights and environmental due diligence law. A legal review by Blackstone [...]
Exclusive: Sustainable targets are everyone’s responsibility, says festival veteran September 21, 2021 The founder of a festival focused on sustainability and innovation in fashion has said customers and businesses need to join forces to tackle fast fashion. The organisation Fashion District aims to bring businesses together, attract global talent to East London and accelerate growth in manufacturing in the area. From September 22 to 26, Fashion District [...]
FTSE 100 climbs as Sunak outlines post-Brexit financial services roadmap July 1, 2021 London’s FTSE 100 surged this afternoon as investors digested the Chancellor’s post-Brexit roadmap for the UK’s financial service industry. The capital’s premier index climbed 1.25 per cent in afternoon trading to reach 7,125. The rally came after Chancellor Rishi Sunak outlined plans to make the UK financial services industry more competitive on the global stage. [...]
Polar Capital profits surge 49 per cent July 1, 2021 Asset manager Polar Capital posted a robust set of results this morning, driven by strong inflows into its funds. Pre-tax profit climbed 49 per cent to £75.9m in 2021, up from £50.8m in the previous year. The firm recorded net inflows into its funds of £517m in the quarter to 25 June 2021. Assets under [...]