Hammerson reveals it hopes to pocket more than £140m from sale of Silverburn shopping centre November 29, 2021 Retail property giant Hammerson is in talks over the sale of the Silverburn shopping centre near Glasgow for around £140m. Shares in the company moved higher on Monday after it confirmed talks over the disposal of the site, which is a 50-50 joint venture Hammerson holds with the Canada Pension Plan Investment Board (CPPIB). Silverburn, [...]
Central bank of Norway acquires stake in fast fashion firm Boohoo December 7, 2021 The central bank of Norway has acquired a 3.1 per cent stake in fast fashion retailer Boohoo, according to documents filed on the London Stock Exchange. Norges Bank is now the fifth largest institutional investor in the online retailer, following confirmation of the investment this week. Boohoo co-founder Mahmud Kamani is still the largest single [...]
City Moves: Who’s switching jobs in the Square Mile? March 29, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Dominvs Group London-based real estate developer Dominvs Group has appointed the former CEO of Travis Perkins Properties (TPP) as a senior advisor. Martin Meech steps onto the board with more than four decades of property experience, spanning M&A, strategic development, finance structuring, and [...]
Monsoon and Accessorize eye 20 new stores as fashion brands progress Covid recovery February 23, 2022 The Monsoon and Accessorize group has said it is eyeing 20 new store openings this year, as the fashion group continues to recover from Covid. In results published on Wednesday, the group revealed sales of £196m and EBITDA of £17.4m for the 12 months to 31 December 2021. The firms were acquired by Adena Brands [...]
London a £106bn key driver of surging global online sales in wake of pandemic March 10, 2022 London was at the forefront of soaring global online shopping, with record-breaking investment in the capital last year. As the world emerged from the pandemic, retailers took in more than $140bn (£106bn) from web-based sales in 2021 – more than double the previous year. Following numerous lockdowns which led to a spike in virtual shopping, [...]
Fashion chain Quiz anticipates profit for first time in three years April 1, 2022 High street clothes-seller Quiz said it anticipates the first year of profit since 2019, after heavy pandemic losses. The beleagured chain forecast a profit before tax of some £500,000 in the year to the end of March. It last made a profit of £600,000 in the year ending March 2019. Total full year group revenue [...]
Retailers hike prices at fastest pace in three decades as Brits brace for Xmas shopping crunch November 25, 2021 Retailers are hiking prices at the fastest pace in over three decades as Brits rush to scoop up Christmas presents to avoid being left empty handed, reveals fresh research published today. Some 77 per cent of retailers raised prices over the last three months to November, the highest rate since 1990, according to data from [...]
HSBC share price soars after profit surge and bumper buyback May 2, 2023 HSBC has announced its first quarterly dividend since the pandemic and a $2bn share buyback.
Polymetal reports boost in Russian demand for gold as sanctions hamper exports March 30, 2022 Russian gold miner Polymetal said it remains resilient to the impact of sanctions today after a boost in demand from Russians looking to store their cash in the traditional safe haven asset.
2,200 branches: Owner of Boots plotting £10bn sale of 172-year old pharmacy chain December 4, 2021 The parent company of Boots is reportedly considering putting the pharmacy chain on the market next year, according to news reports this morning. US retail giant Walgreens Boots Alliance (WBA) is lining up advisers from Goldman Sachs to explore a potential sale of the pharmacy, Sky News wrote. City A.M. understands that a potential valuation [...]