Asos’ UK sales slip as analysts warn firm has a “mountain to climb” January 12, 2023 Pandemic darling Asos reported a further decline in UK sales this morning, with the fast fashion flagship’s boss insisting the firm was making good progress on a turnaround plan. UK sales slipped eight per cent year on year in the four months into December 31, with the firm blaming “weak consumer sentiment.” Fast fashion firms, [...]
Lookers begins £15m buyback programme as it raises year profit October 18, 2022 Lookers has begun a £15m share buyback programme as it raises profit forecasts for the full-year. The car dealership chain announced today that, encouraged by strong trading in the third quarter, it now expects profit before tax for 2022 to be ahead of previous expectations to no less than £75m. “We have built on the [...]
S&P 500 and Dow hit record highs on upbeat earnings April 15, 2021 The S&P 500 and Dow Jones indexes hit record highs on today, as upbeat earnings reports from companies including Bank of America and Blackrock as well as a strong rebound in March retail sales bolstered hopes of a broader economic rebound. The Dow Jones Industrial Average rose 57.64 points, or 0.17%, at the open to 33,788.53. The S&P 500 [...]
US private equity powerhouse Sycamore Partners makes £250m bid for Ted Baker March 28, 2022 US private equity group Sycamore Partners has reportedly made a formal £250m offer for the fashion chain Ted Baker.
Superdry’s shares plunge 16.5 per cent as retailer downgrades guidance amid £17.7m of losses January 27, 2023 Superdry’s shares plunged 16.5 per cent this morning after the retailer downgraded its-full year guidance amid soaring losses. Instead of a profit of between £10m and £20m Superdry expects to break even, after losses soared to £17.7m in the first half of its 2023 financial year. This is a £21.7m decrease when compared to a [...]
Reebok owner closes in on Ted Baker deal August 15, 2022 Ted Baker is on the verge of being taken over by a US consumer goods group which owns Reebok, according to Sky News.
Cazoo cuts 750 jobs to save more than £200m by end of next year June 7, 2022 Online car retailer Cazoo has announced it will cut 15 per cent of jobs to save more than £200m until the end of next year. Under its business realignment plan, the company will axe 750 UK and EU positions, cutting vehicle preparation as well as customer support sites. Cazoo’s focus will instead be driving its [...]
Global asset manager Brown Advisory hires ex-Chatham House chief to board December 6, 2023 Sir Robin Niblett will also be joined by Sian Westerman and Jasmine Whitbread on the $135bn manager’s International Advisory Board.
Covid-19 ‘doughnut effect’ creates retail opportunities in outer London, experts say October 28, 2020 Outer London boroughs have recovered faster from the coronavirus restrictions than the city centre, creating a “doughnut effect”, which could provide new opportunities for retailers and landlords, experts have said. Research by estate agent Savills showed that in the six weeks to 23 October footfall in the City and Westminster was down 72 per cent [...]
January retail sales hit new low as Brexit uncertainty hits consumer spending January 25, 2019 Sales hit their lowest levels in more than seven years in January as Brexit uncertainty continues to rock the retail sector, according to a new CBI survey. The survey of 103 firms, just under half of which were retailers, showed sales in January were well below the average for the month and marked the lowest levels since [...]