‘Hard’ assets in demand: Deals by City’s distressed private equity funds treble to £1.8bn in just one year May 9, 2022 The leading mid-tier distressed asset private equity and debt funds in the UK made a total of £1.8bn of acquisitions of businesses last year, almost treble the £670m registered in 2020 and the highest figure for five years. The 12 specialist funds acquired 26 UK businesses in 2021, up from 19 the previous year. There [...]
Whole Foods was Amazon’s grocery debut, now it’s time for a main course November 11, 2021 Amazon took its first major step into grocery when it bought Whole Foods Market in 2017 for $13.7bn. The purchase sent shockwaves through the retail world at the time. It marked Amazon’s first step into brick-and-mortar retail and analysts interpreted the move as an effort to muscle in on the supermarket sector. But Amazon’s Whole [...]
Next warns sales could drop 40 per cent this year after steeper decline than expected April 29, 2020 High street retailer Next warned this morning that full-year sales could dive as much as 40 per cent after the impact of coronavirus on trading was “faster and steeper” than expected. Next’s share price dropped as much as four per cent after the retailer said total full price sales including interest income were down 38 [...]
WH Smith revenue dives 85 per cent during coronavirus lockdown May 14, 2020 WH Smith reported an 85 per cent drop in revenue for last month after the coronavirus lockdown forced the retailer to close high street and transport hub stores. The newsagent chain said travel revenue plunged 91 per cent due to travel bans around the world, and high street revenue was down 74 per cent. WH [...]
UK retail parks fare better in lockdown than high streets and shopping centres April 20, 2020 The number of shoppers visiting the UK’s retail destinations plunged by a record amount last month due to coronavirus, however a surge in supermarket demand helped to shield retail parks. UK retail footfall plummeted 44.7 per cent in March due to the mandatory lockdown which restricted movement and forced all non-essential stores to close. In [...]
M&S warns cost of living crunch will slow sales growth May 25, 2022 Despite posting hefty profits this morning, the luxury retailer M&S warned against upcoming inflationary headwinds.
Next ups full-year forecasts as heatwave spurs Brits to summer shop July 21, 2021 British retailer Next is upping its full-year financial forecasts as consumers have flocked to stores in recent weeks to get their hands on clothing fit for the UK’s heatwave. The rosy outlook stoked confidence in investors as its shares rocketed in its early trading and held up highs of 8.2 per cent in the afternoon, [...]
George at Asda launches treasure hunt for second-hand Gucci items November 25, 2021 Supermarket Asda has teamed up with vintage wholesaler PreLoved, ahead of the anticipated release of Ridley Scott’s House of Gucci. Some 30 exclusive pieces have been hidden across 50 Asda stores across the country, with shoppers encouraged to hunt for second-hand items. Pieces will be on sale for as little as £12. With the latest [...]
ABF pins ‘lower than expected sales’ at Primark on summer pingdemic September 13, 2021 Sales at Primark, a subsidiary of Associated British Foods, have dipped below expectations in the last year, as Gen Z shoppers move away from fast fashion brands. In its pre-close trading update for the full year to 18 September, Associated British Foods (ABF) said: “We have seen a significant improvement in trading as the period [...]
Mothercare’s new passage to India October 6, 2021 Buggies to bibs retailer Mothercare is to enter the potentially lucrative Indian market where there are 110m toddlers. Mothercare has signed a franchise agreement with Shopper-Stop to open 40 stores in India over the next five years. The first outlet will open in April 2006. “The exciting thing about India is there are 110m kids [...]