Zara owner Inditex boosts sales with rapid online expansion June 12, 2019 Zara owner Inditex defied a weak retail market to boost sales at the beginning of the second quarter as its global expansion gathered pace. The world’s biggest clothing retailer bounced back from a weak start to the year, damaged by cold weather, reporting a 9.5 per cent sales jump in the period from 1 May [...]
Ted Baker shares slide as retailer warns on profits in ‘difficult trading conditions’ June 11, 2019 Ted Baker’s share price plunged 25 per cent this morning after the fashion retailer warned on profits amid “extremely difficult trading conditions”. The company said underlying profit before tax for the year ending 25 January 2020 is likely to be between £50m to £60m, compared to a company compiled consensus of £70.9m. Read more: Ted [...]
Mountain Warehouse eyes store expansion as profits jump May 31, 2019 Outdoor clothing group Mountain Warehouse is eyeing an expansion on the high street this year after reporting today a double-digit rise in annual pre-tax profits and sales. The retailer, which currently runs 350 stores and employs 3,500 staff, is planning to open a further 50 stores this year, including roughly 20 in the UK, following [...]
City Moves for 25 April 2019 – Who’s switching jobs at the Economist Group, Gumtree and Oasis? April 25, 2019 Today's City Moves includes the Economist Group, Gumtree and Oasis. The Economist Group The Economist Group has announced that Lara Boro will become its new chief executive. Lara joins from Informa, where she is currently chief executive of Informa Intelligence. She will take up the position later this year, when Chris Stibbs, the current chief [...]
Ted Baker concludes review into former boss’ behaviour as it appoints new CEO April 11, 2019 Ted Baker has concluded its investigation into allegations against former chief executive Ray Kelvin as it appointed a new head of the company today. Read more: Ted Baker CEO resigns in the wake of misconduct allegations The UK fashion brand did not comment on the review's findings on Kelvin's behaviour, who denies accusations of misconduct stemming from [...]
Tesco turnaround marks the milestone for Drastic Dave April 10, 2019 In the never-ending debate about executive pay, examples of failure are cited more frequently than cases of good value for money. Recently the likes of WPP, Persimmon and Ted Baker have all demonstrated how the actions of the top boss can dent the fortunes of a company and frustrate shareholders. But despairing investors now have [...]
Ted Baker creates joint venture to boost expansion in China, Hong Kong and Macau April 10, 2019 Fashion retail brand Ted Baker has announced plans to create a joint venture to further expand in China. Under the agreement Ted Baker’s joint venture (JV) partner Shanghai LongShang will operate its stores and online presence in China, Hong Kong and Macau. Read more: Profits plunge 26 per cent at Ted Baker after 'difficult' year [...]
ASOS and Bonmarche in share price collapse March 25, 2019 By Graeme Evans from interactive investor. Investors in these two high-profile retailers ran for the hills following the latest trading updates. While ASOS (LSE:ASC) and Bonmarche (LSE:BON) operate in two very different retail worlds, the pair have plenty in common from an investor viewpoint after their December profit warnings were followed by more disappointment last [...]
Profits plunge 26 per cent at Ted Baker after ‘difficult’ year March 21, 2019 Profits fell at Ted Baker last year for the first time since the financial crisis as the company faced “very difficult trading conditions” in a year when harassment claims dogged its chief executive. The figures Profits before tax at the menswear retailer dropped by 26 per cent to £51m even as revenue increased 4.4 per [...]
Ray Kelvin held Ted Baker too tight March 14, 2019 Yet another big-name chief executive has stepped down from their position at the helm of a well-known British business. The founder of fashion retail brand Ted Baker, Ray Kelvin, announced last Monday that he was going to be resigning from his position as chief executive, as the firm investigates allegations that he behaved inappropriately toward [...]