Oxford Street discounts signal a troubling start to the summer for retailers June 25, 2019 The crucial summer selling season is finally upon us, but for retailers on London’s most celebrated high street, all is not well. Big red discounts in shop windows line the parade on Oxford Street, where many of the country’s flagship fashion stores are offering major price reductions in a desperate bid to boost their sales. [...]
The founder of The Sole Supplier on switching up how we buy footwear June 24, 2019 Earlier in June, thousands of people queued up outside shoe stores to buy a new pair of trainers designed by musician Kanye West. The latest set of Adidas “Yeezys” cost £180 each. But many of the people buying these shoes weren’t just interested in fashion, but in making a profit. Soon after the footwear went [...]
WPP confirms sale of post-production house The Farm Group to US rival June 21, 2019 WPP has confirmed the sale of its TV and film post-production firm The Farm Group to LA-based rival Picture Shop. Read more: Sorrell poaches two former media executives with links to WPP for new venture S4 Capital The ad giant today said it has signed a deal to sell its 75 per cent stake in [...]
Mulberry swings to loss on tough UK retail market and House of Fraser collapse June 19, 2019 Luxury handbag maker Mulberry swung to a loss of £5m last year as the “challenging” UK retail market and the collapse of House of Fraser hit sales. The figures Mulberry reported a pre-tax loss of £5m for the year ending 30 March, down from £6.9m profit the previous year. Read more: Mulberry widens losses after [...]
CVC abandons IPO or sale of Domestic and General after tepid investor response June 18, 2019 A sluggish response from investors has forced one of Britain’s biggest home appliance insurers to abandon plans for a public float as soon as this month which it hoped would value it at more than £1bn. Domestic and General has decided in the last few days to shelve the plans, Sky News reported. Read more: [...]
Ted Baker share plunge fails to attract buyers June 17, 2019 By Graeme Evans from interactive investor. Despite sinking to prices not seen since 2012, investing in Ted shares remains hugely speculative. Ted Baker (LSE:TED) shares are trading at levels not seen since November 2012 after another profits warning accelerated the de-rating of this former high-flying lifestyle brand. Whereas Ted’s shares had once been reassuringly expensive at around 30 times [...]
Morrisons and Amazon: Retail’s newest BFFs June 14, 2019 By Graeme Evans from interactive investor. Extending its relationship with the world’s biggest retailer is shrewd business by Morrisons’ CEO. The quiet revolution at Morrisons (LSE:MRW) under chief executive David Potts continues to impress after the supermarket chain extended its partnership with online giant Amazon (NASDAQ:AMZN). Whereas its rivals have looked to grow through consolidation – with Tesco (LSE:TSCO) buying Booker and Sainsbury’s (LSE:SBRY) trying to [...]
British Steel inquiry delayed amid fears findings could affect sale process June 13, 2019 MPs have delayed an inquiry into the collapse of British Steel until the Autumn, amid fears the findings could hurt efforts to find a new owner. The influential Business, Energy and Industrial Strategy Committee group of MPs was set to grill Marc Meyohas, a partner at British Steel’s former owner Greybull Capital, on 26 June. [...]
Our pick of the new homes going on sale in London this weekend June 13, 2019 250 City Road, EC1V From £985,000Berkeley Homes is launching a collection of 670 sqft one-bedroom apartments at its huge 250 City Road development this weekend. The 48 new homes can be configured based on the buyer’s preference, and are located throughout the new 36-storey Valencia Tower, where residents will benefit from a rooftop yoga terrace [...]
London housing market rebounds slightly after Brexit delay June 13, 2019 The London housing market showed signs of bouncing back last month as sentiment rose to its highest level since April 2017, according to the latest forecasts. Negative trends in agreed sales, prices and new instructions all eased in May after the Brexit deadline was extended to October, the Royal Institute of Chartered Surveyors’ (RICS) latest [...]