Debenhams calls in top auditors to weigh up potential insolvency September 9, 2018 Embattled department store chain Debenhams has called in Big Four accountancy firm KPMG to help carry out desperate restructuring measures which could include a controversial insolvency process. Among the contingency options currently being weighed up by KPMG is a company voluntary arrangement (CVA), which is an insolvency option that can be used to close stores [...]
Ocado joins FTSE 100 as Marks & Spencer narrowly escapes being kicked off May 30, 2018 Online retailer Ocado officially joined the FTSE 100 today, while embattled department store Marks & Spencer narrowly avoided dropping off the blue chip index. Ocado was promoted from the FTSE 250 in a quarterly reshuffle by index provider FTSE Russell that also saw bookmaker GVC promoted. Ocado’s FTSE jump comes after the retailer’s shares soared [...]
M&S should look at a tie-up with Amazon, says former digital boss June 20, 2018 A former Marks & Spencer digital boss has said that the retailer should consider a tie-up with Amazon. Amazon has been making aggressive moves into the UK’s retail sector through its acquisition of Whole Foods and a tie-up with Morrisons. It even talked to the John Lewis Partnership about a potential takeover of Waitrose, but [...]
Rightmove faces FTSE 100 eviction as engineering firms climb, say analysts August 29, 2018 Online estate agent Rightmove is the top contender to drop from the FTSE 100 during its reshuffle next week, analysts have predicted. A weak housing market in London and the south-east, and tough competition for rivals such as Zoopla and PurpleBricks could see the company dropped into the FTSE 250, despite year-on-year growth in revenue [...]
Why John Lewis’ price promise won’t deliver profits September 14, 2018 Retail bellwether John Lewis reported a 99 per cent drop in profits yesterday in what one analyst labelled a moment as significant as the fall of the Roman empire, as far as the struggling high street is concerned. The middle-class favourite’s profit before one-off items slumped to £1.4m in the six months to 28 July [...]
Why John Lewis’ price promise won’t deliver profits September 14, 2018 Retail bellwether John Lewis reported a 99 per cent drop in profits yesterday in what one analyst labelled a moment as significant as the fall of the Roman empire, as far as the struggling high street is concerned. The middle-class favourite’s profit before one-off items slumped to £1.4m in the six months to 28 July [...]
M&S and Microsoft launch strategic partnership June 21, 2018 Marks & Spencer is teaming up with Microsoft in a bid to shake off its reputation as a digital laggard. A strategic partnership between the two companies will focus on testing the integration of Microsoft artificial intelligence (AI) tech into M&S stores and wider operations. Today’s announcement comes a day after a former M&S digital [...]
Horse Racing Betting Tips: You won’t feel ripped off if you back Berkshire September 6, 2018 ASCOT stages a number of hugely competitive seven furlong handicaps during the season and tomorrow’s Cunard Handicap (2.45pm) is another. Punters face a slightly easier task in this as there is a maximum field of 20, as opposed to the normal 29, with the course protecting the ground for next month’s QIPCO British Champions Day. [...]
M&S fashion brands are under threat as the struggling retailer looks to cut costs June 17, 2018 Marks & Spencer could abandon its once flagship womenswear brand as the retailer’s crisis deepens. Per Una, which generated roughly £750m for the floundering high street giant at its peak, is now one of several brands to be put under review by chief executive Steve Rowe as the company looks to cut costs. The fashion [...]
Graze backer Draper Esprit’s ‘funny’ profits on a par with Marks & Spencer May 25, 2018 A disruptive venture capital fund today said it was “funny” that it made the same profits as retail giant Marks & Spencer. Aim-quoted Draper Esprit, which has masterminded the growth of brands such as Graze, Revolut and Crowdcube, doubled annual profits to £65.3m. The firm’s primary portfolio value swelled 116 per cent to £243.5m generating [...]