Revenue soars at Ocado during lockdown July 14, 2020 Retail sales for the first half of 2020 for online grocer Ocado jumped 27 per cent to £1bn, as Brits did their supermarket shopping from home. The group reported a loss before tax of £40.6m in the six months to the end of May, citing an increase in investment to handle increased demand as a [...]
Jaguar Land Rover falls to half a billion loss in final quarter June 15, 2020 Luxury carmaker Jaguar Land Rover (JLR) fell to a £501m loss in the fourth quarter, it was announced today, as the coronavirus hammered unit sales. Before the pandemic hit in the last period, JLR said that it had been on track to hit its financial targets after returning to profit in the second and third [...]
Segro to raise £650m through private share placement to pursue ‘opportunities’ June 9, 2020 Property investment firm Segro has announced it will raise £650m through a private share placement to pursue “opportunities” across the UK and Europe. In a statement released after markets closed, Segro said the new equity would allow it to “take advantage of additional investment opportunities across the UK and Continental Europe through further, mostly pre-let, [...]
Sofa retailer DFS warns fewer house sales will impact trading September 26, 2019 Furniture retailer DFS this morning warned that weakening consumer confidence and a slump in housing transactions has impacted sofa sales. The figures The company has changed its accounting reference date to 30 June, meaning this morning’s results cover a shortened 48 week period. Read more: DFS warns investors of volatile political threat to sales Profit [...]
The Very Group owners select trio of banks for £4bn float August 13, 2021 The owners of fashion retailer The Very Group have selected a trio of investment banks to organise a £4bn flotation. Banks Barclays, Morgan Stanley and UBS have been appointed to coordinate an initial public offering (IPO) to take place next year, according to Sky News. This would mark the first time the Barclay family – [...]
London Amazon sellers generate £263m monthly revenue in e-commerce boom August 19, 2021 UK Amazon sellers now account for 5.5 per cent of the country’s retail sector’s monthly turnover. Some 13,483 Amazon sellers generate almost £2.5bn in monthly sales, according to analysis from online consumer goods company Trasio. This represented 5.5 per cent of the entire UK retail sector’s turnover in June. London Amazon sellers generate £263m revenue [...]
Best of 2021: The unstoppable rise of NFTs December 27, 2021 You could scarcely of made it through 2021 without hearing about NFTs, otherwise known as non-fungible tokens.
Gear4Music snares AV Online in £9.2m acquisition September 9, 2021 Gear4music, the UK’s largest retailer of musical instruments and equipment, has agreed to purchase AV Online in an acquisition deal to the tune of £9.2m. Founded in 2013 AV Online is a retailer of audio-visual equipment, such as home cinema systems. Gear4music will also purchase the domain name AV.com with a view to launching an [...]
John Lewis posts £29m pre-tax loss after restructuring costs – CityAM : CityAM September 16, 2021 John Lewis has reported a pre-tax loss of £29m for the year’s first half, after restructuring costs. However, the high street giant said its half year results ending July 31 marked a significant improvement on last year’s pre-tax loss of £635m. Profit before exceptional items was £69m, up £124m on the comparable period last year, [...]
Kingfisher maintains strong sales after lockdown boom in DIY and home improvements November 19, 2021 Kingfisher continues to enjoy strong sales despite the easing of pandemic restrictions and increased interest in DIY and home improvements.