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 [...]
Christmas supermarket sales growth slows to four-year low January 7, 2020 Supermarket sales growth over the Christmas period slowed to the lowest rate in four years as shoppers watched their budgets over the festive period. Retailers reported sales of £29.3bn, up £50m on last year, however growth slumped to the lowest rate since 2015. Read more: Morrisons sales fall in ‘unusually challenging Christmas period’ Year-on-year supermarket [...]
Mike Ashley urges MPs to look into Debenhams collapse October 27, 2019 Mike Ashley has redoubled his efforts to have the collapse of Debenhams investigated and lambasted MPs for not being more interested in the failure of the high-street department store. Read more: Mike Ashley kicks off £4m takeover for Goals Soccer Centres In a letter to business select committee chair MP Rachel Reeves, seen by the [...]
City Moves for 27 June – Who’s switching jobs? June 26, 2019 Today’s City Moves includes CYBG, Squire Patton Boggs and JP Morgan Asset Management. CYBG CYBG has announced two new appointments to its senior leadership team. Lucy Dimes will join the Bank in July as group business transformation officer to lead on improving the efficiency and effectiveness of the bank and the successful delivery of its [...]
Mike Ashley to face shareholder anger at Sports Direct meeting September 10, 2019 Retail tycoon Mike Ashley is preparing to face frustrated Sports Direct shareholders at a meeting tomorrow following a turbulent year for the business. The founder and chief executive of the sportswear retailer has come under fire from shareholder advisory groups in the run up to tomorrow’s annual general meeting. Read more: Mike Ashley makes move [...]
Ted Baker finance boss bags Mulberry role August 22, 2019 Ted Baker’s finance boss Charles Anderson has quit after 17 years to join luxury bag brand Mulberry. Anderson will join Mulberry’s board as group finance director in early October, replacing Neil Ritchie who stepped down on 30 June. During his time at Ted Baker, Anderson played an active role in its international expansion and systems [...]
Sports Direct trying to ‘drive Debenhams into administration’ September 2, 2019 Mike Ashley’s Sports Direct is backing a legal challenge against Debenhams’ restructuring plan to “drive it into administration so that it can pick up its assets on the cheap”, a court was told today. The sports retailer is backing a challenge brought by Combined Property Control Group (CPC), which represents the landlords of six Debenhams [...]
Sports Direct: What’s gone wrong for Mike Ashley? July 26, 2019 Even for an unpredictable retail tycoon like Mike Ashley, today’s strange turn of events is unprecedented. Sports Direct was set to release its full-year figures at 7am this morning, before suddenly postponing its statement and cancelling media interviews. Read more: Confusion reigns as Sports Direct delays annual results yet again With no explanation given as [...]
Philip Day tables bid to avoid Jack Wills administration August 5, 2019 British billionaire Philip Day is taking on rival bidder Mike Ashley to keep struggling retailer Jack Wills out of administration. Day’s Edinburgh Woollen Mill Group’s (EWM) offer for the “preppy” fashion brand would seek to avoid a pre-pack administration, it was revealed as the bidding war between the two retail tycoons entered its final hours. [...]
Mike Ashley stays silent on Sports Direct as London Stock Exchange ends trading July 26, 2019 Sports Direct was meant to deliver a delayed set of results to the City today, but trading opened and closed and the only messages to come from Mike Ashley’s retailer were three further delays. The sportswear firm failed to update the market at 7am, before telling journalists to await an update at 12pm. Read more: [...]