Next predicts £1bn profit after cold weather boosts sales October 30, 2024 Next has upgraded its profit forecast for the year to over £1bn after better-than-expected sales in its third quarter. The FTSE 100 retail giant, which is headquartered in Leicester, has upgraded its guidance from £995m to £1.005bn. In an update to the London Stock Exchange, Next said full price sales in the three months to 30 October [...]
As Boohoo mulls a breakup, why is the retailer underperforming? October 24, 2024 Yougov’s chief executive Steve Hatch takes a closer look at the data behind the biggest stories in business Boohoo recently announced the departure of its CEO John Lyttle – and a potential business restructure that might see the brand sell Debenhams and Karen Millen to retrain its focus on younger consumers. With much analysis of Boohoo’s strategy [...]
Mulberry rejects ‘untenable’ second offer from Mike Ashley’s Frasers October 22, 2024 The board of Mulberry has unanimously rejected the second bid from retail giant Frasers as “untenable”. Frasers launched its first bid on 1 October for £83m, which was subsequently rejected as too low by Mulberry, and its second of £111m on 11 October. Mulberry reiterated its statement from the first time it rejected Frasers’ bid: [...]
Mike Ashley’s Frasers Group backs N Brown takeover amid Mulberry pursuit October 18, 2024 Mike Ashley’s Frasers Group has backed the £191m proposed takeover of JD Williams-owner N Brown and announced the sale of its 20 per cent stake in the company for £38m. The retail empire, which includes Sports Direct and House of Fraser, holds nearly 95,000,000 shares in the Manchester business and will sell them for 40p [...]
Boohoo shares drop as firm mulls break up and boss heads for the exit October 18, 2024 Boohoo has revealed that its CEO is stepping down after five years, kick-starting a search for the fast fashion's next chief executive
Mulberry to ponder bid from Mike Ashley’s Frasers despite lack of interest from majority shareholder October 14, 2024 British retailer Mulberry has announced that it is evaluating Frasers’ second bid for the firm, despite a lack of interest from its majority shareholder, Challice. In light of Frasers’ £111m bid, the luxury brand is “working with advisers to consider the company’s position,” it said, despite Challice’s public snub of the deal. Challice, which is [...]
Mulberry founder suggests LVMH could be the right buyer for the brand October 7, 2024 Mulberry founder Roger Saul has suggested that French luxury behemoth LVMH could be the right company to step in and aid the struggling brand after it rejected an offer from Mike Ashley’s Frasers group last week. Saul, who launched the brand in the 70s before leaving in 2002, told This Is Money that Mulberry was [...]
Mulberry rejects Frasers £83m offer as too low October 1, 2024 British luxury brand Mulberry has rejected a possible takeover from minority shareholder Frasers Group on the grounds that it doesn’t recognise the company’s future value and will not lead the group back to profit. Frasers announced a possible takeover bid yesterday, 30 September, after it was snubbed from Mulberry’s £10m capital raise with majority shareholder [...]
Mike Ashley’s Frasers Group tables £83m Mulberry takeover bid after capital raise snub September 30, 2024 Mike Ashley’s Frasers Group has tabled a £83m takeover of Mulberry and launched a tirade against its board after allegedly being shut out of discussions over a £10m fund raise. The retail giant, which owns a 37 per cent stake in Mulberry, offered £83m for the rest of the luxury fashion brand, valuing each share [...]
Khan on the pedestrianisation of London’s streets: ‘Watch this space’ September 17, 2024 The Mayor of London Sadiq Khan announced plans to pedestrianise Oxford Street earlier this week, which he said will revitalise the area and bring customers back. It’s the second time the Mayor has tried to pedestrianise the street, which welcomes some 500,000 visitors a day, with his last attempt in 2018 blocked by Westminster council. [...]