Fresh kicks: Fund manger builds stake in ailing Dr Martens July 30, 2023 An activist fund manager has reportedly been building a stake in struggling bootmaker Dr Martens. Sparta Capital has bought stock worth “tens of millions of pounds” in the London-listed footwear brand, according to reports by Sky News. It is said that Sparta is also engaging in talks with the board to help the brand as [...]
FTSE 100 close: London index claws back losses as pound and oil prices soar June 1, 2023 London’s FTSE 100 clawed back losses today after posting its worst month since last summer in May, led higher by mining giants regaining ground following yesterday’s sharp losses. The capital’s premier index climbed 0.59 per cent to 7,490.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Dr Martens share price tumbles 11 per cent as pre-tax profits miss forecasts June 1, 2023 Dr Martens will launch a share buy back programme of up to £50m as the boot maker looks to up investment following a 26 per cent slide in pre-tax profits following bottleneck issues in its US warehouse. The London-listed retailer hit record revenues during the year of £1bn, as sales recovered post-pandemic and it opened [...]
Morning in the City: Live updates with Dr Martens, Nationwide HPI and US debt ceiling June 1, 2023 Welcome to the live blog on the first of June, with updates on Dr Martens, Nationwide’s regular House Price Index, the US debt ceiling, and much more!
Can Dr Martens get off on the right foot with investors this week? May 29, 2023 All eyes remain on Dr Martens ahead of its full year results on Thursday as investors hope the boot maker can offer signs of a turnaround following disruptions in its US warehouse and its struggling share price. The London-based bootmaker has downgraded its profit forecast twice in three months, telling the markets in April that [...]
FTSE 100 close: A stable end to a miserable week May 26, 2023 London’s FTSE 100 showed tentative signs of recovery on Friday, after a turbulent week that saw numbers from the Office for National Statistics reveal far higher levels of inflation, all but sealing further interest rate hikes. The blue-chip index started higher before settling in flat, and then closing at 7,627, up 0.74 per cent, helping [...]
FTSE 100 live: London markets make small gains with retailers in focus as sterling stays strong April 14, 2023 Markets opened marginally higher on Friday with a mixed performance from retailers while the pound continued to strengthen as investors increasingly expect the Fed to start cutting rates across the pond. The FTSE 100 opened 0.20 per cent higher at 7,859.58, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]
Dr.Martens says warehouse headache led to disappointing revenue rise as hunt for new CFO begins April 14, 2023 Dr.Martens posted a small rise in revenues for the fourth quarter as operational issues in its US warehouse continued to impact earnings. The boot maker said that for the period total revenue grew just six per cent as it spent time resolving bottleneck issues at its headquarters in LA , which impacted its American wholesale [...]
London £4 trillion stock market sees profit warnings hit financial crisis levels January 30, 2023 Profit warnings issued by companies on London’s £4 trillion stock market surged over the last year, propelled by swelling costs squeezing margins, a new report out today reveals. Against a backdrop of skyrocketing energy prices and slowing demand amid cost of living crisis, businesses have had to tell shareholders to brace for profits to come [...]
Week ahead: Recession signals to flare up in fresh PMI and government borrowing to hit £18bn January 22, 2023 Investors this week will be eyeing fresh surveys for more clues on whether the UK economy has slipped into recession. London’s premier FTSE 100 index’s strong start to 2023 came off the boil slightly last week, shedding nearly one per cent to close at 7,770.59 points, while its mid-cap domestically-focused peer the FTSE 250 dropped [...]