South African retailer Foschini eyes fashion chain Whistles March 6, 2016 Another South African company could soon step up its presence in the UK retail industry, this time with upmarket high street brand Whistles as the target. Foschini, a Cape Town-based retail conglomerate which bought Phase Eight last year, is said to be eyeing a bid for Whistles after its owners hired advisers at KPMG to sound out [...]
Dominic Chappell faces MPs’ questions on BHS collapse as retailer’s management appear at BIS select committee hearing June 8, 2016 Former BHS owner Dominic Chappell, the majority shareholder of Retail Acquisitions, which bought BHS for £1 last year from Sir Philip Green, is giving evidence on the retailer's collapse this morning. The business, innovation and skills (BIS) select committee has already heard explosive evidence about the sale of BHS to Retail Acquisitions and its subsequent demise – with [...]
City Moves for 13 April 2016 | Who’s switching jobs April 13, 2016 Peel Hunt Peel Hunt, the independent corporate broking, advisory and trading house focused on UK mid and small caps, is pleased to announce the appointment of Simon Gardner-Bond (pictured) to the role of natural resources specialist sales, effective immediately. Simon joins from Investec Asset Management, where he worked for five years as a senior analyst [...]
Steel unions to hand Javid Port Talbot demands at key meeting tomorrow April 4, 2016 Community, the union which represents British steelworkers, will meet with business secretary Sajid Javid tomorrow to discuss the steel crisis and present Javid with a list of demands for the industry. The demands, which include the government preventing Tata and potential buyers from cherry-picking assets, were formulated at a meeting in London today. “There needs to [...]
Hugo Boss share price plummets following ugly results as the US and China look set to drag on future profits February 23, 2016 Hugo Boss shares have tumbled by almost 20 per cent, their biggest fall since October 2008, after it warned that sales in China and the US so far this year have been weaker than it expected. The German-based fashion label said in a statement earnings before interest, taxes, depreciation and amortisation and excluding special items will decline by a “low double-digit” percentage [...]
Blame game kicks off following BHS failure April 27, 2016 The heat was turned up on the two most recent owners of BHS yesterday, as insiders and politicians sought to place the blame for the retailer's collapse. Dominic Chappell, a former racing driver, bought BHS from previous owner Sir Philip Green last year for just £1. On Monday, the 88-year-old retailer was placed in administration, [...]
Putting the super back into the supermarkets: What the Co-op rebrand tells us about the current state of the sector June 1, 2016 The unveiling of the Co-op rebrand last week was the latest sign of a major shift in the supermarket arena. The brand’s decision to revert back to its origins, resurrecting – albeit also modernising – its 1968 logo, was a clear attempt to spark an emotional connection with an audience for whom loyalty is meaning [...]
London house prices: Londoners need a 266 per cent pay rise to be able to afford a property in the capital February 23, 2016 Londoners need a 266 per cent pay rise to be able to afford a mortgage on a home in the capital, a leading industry body has claimed, painting a bleak picture for prospective buyers. The National Housing Federation (NHF), which represents affordable housing providers, said the average London home now costs £526,085 – more than [...]
SuperGroup’s share price soars 12 per cent as it shrugs off high street blues to post double-digit growth May 12, 2016 SuperGroup's share price soared more than 12 per cent in early trading, after reporting double-digit growth for the full year. The figures Group revenues at the SuperDry parent company rose 21.1 per cent to £589.5m for the full year to 23 April, with sales at the retail division climbing 24.5 per cent with "broadly equal contributions [...]
Duke Street Capital’s perfume seller celebrates bumper sales of knock-off Chanel fragrance March 15, 2016 Hats off to the well-heeled asset managers at Duke Street Capital. The firm's discount retailer Original Factory Shop is shunning originality and raking it in on knock-off designer goods. Original Factory achieves an annual turnover of around £200m for the private equity firm, and no wonder – a £5 bottle of perfume the firm says smells just [...]