Boohoo shares soar as online retailer boosts full-year guidance September 5, 2019 Shares in online retailer Boohoo soared to an all-time high this morning after the fast fashion firm increased sales growth guidance for the year. Boohoo’s share price was up 15.37 per cent to 280.7p after the company announced sales growth would be between 33 per cent and 38 per cent, against previous guidance of 25 [...]
Fewer car sales and new drivers hits brakes on Direct Line growth May 5, 2021 Insurer Direct Line today said that low levels of new car sales and fewer new drivers led to deflationary market conditions during the first quarter. The firm’s total group premiums fell 4.7 per cent year-on-year to £752.3m, with motor premiums plummeting 10.6 per cent to £367.3m. Elsewhere, Direct Line continued to deliver growth in its [...]
Debenhams to reopen stores for final sale ahead of move to online April 8, 2021 Debenhams is set to reopen its stores next week to complete its final closing down sale, as the store moves online. The sale, on 12 April, forms part of the high street retailer’s final stock liquidation process and will continue until the stock is fully cleared. “This is the last chance for customers in England [...]
It’s all over: Debenhams’ 243-year history ends today as final 28 stores close for good May 15, 2021 Today, Debenhams is to shut its doors for the final time in its 243-year history. The historic department store chain will close its remaining 28 stores across the UK for good tomorrow after the company collapsed amid the fallout of the coronavirus pandemic. It closed 21 other sites across the UK for the final time [...]
Back to basics: Three ‘Rs’ can revive the High Street February 9, 2021 The news this week that Asos has bought Topshop, Topman and Miss Selfridge from the failed Arcadia group is the latest evidence of the rapidly increasing dominance of younger online retailers over the traditional bricks-and-mortar fashion stores. The deal comes hot on the heels of Boohoo agreeing to pay £55m for the Debenhams brand last week. And [...]
Arcadia staff gear up for legal action against Philip Green’s retail empire February 9, 2021 Dozens of ex-Arcadia staff have vowed to take legal action against the retail consortium, after it became clear their jobs would not be saved when the Arcadia brands were sold. Arcadia fell into administration in December, becoming the biggest high street casualty of the Covid-19 pandemic. Earlier this week online fashion giant Boohoo announced it [...]
EU property giants make €1.6bn move for London’s Globalworth April 14, 2021 Czech CPI Property Group and German real estate company Aroundtown SA have confirmed a €1.57bn cash offer for London-listed Globalworth Real Estate Investments this morning. The offer will go through CPI-owned Zakiono, giving the Cyprus-incorporated company 2.8m shares – which represents around 1.28 per cent of the company. CPI and Aroundtown currently hold 113.8m Globalworth [...]
Asos purchases Arcadia’s principal brands to improve its own quality perception February 3, 2021 Online fashion giant Asos has announced it has beat competitors to purchase the four main Arcadia brands – Miss Selfridge, HIIT, Topman and Topshop – in order to become the number one fashion destination for young, fashion-conscious shoppers worldwide. Chief executive Nick Beighton said that the brands were a “natural fit” and resonated with their [...]
What does the WhatsApp saga tell us about privacy in 2021? January 21, 2021 Public trust is steadily declining in the tech sector; WhatsApp’s latest ordeal is a perfect example. The company recently announced it would start sharing sensitive user data with Facebook, including information such as IP address, browser information and phone numbers. Cue a swarm of users deleting the app and fleeing to competitors such as Telegram [...]
Boohoo snaps up Karen Millen and Coast brands for £18m August 6, 2019 Fast fashion company Boohoo has bought the Karen Millen and Coast brands out of administration for £18.2m, putting more than 1000 jobs at risk as store closures loom. The online retailer said it made the acquisitions after Karen Millen entered administration this afternoon. Boohoo shares were up 6.65 per cent following the announcement. Read more: [...]