Shareholders yearn for retail chiefs like Swann November 22, 2018 It has been an annus horribilis for the high street. Closures, job cuts and profit warnings in the last 12 months have all thrown scrutiny on the industry – and its bosses – like never before. Which is why yesterday’s announced departure of SSP chief executive Kate Swann is all the more significant. Swann is [...]
FTSE 100 round up: Smurfit Kappa, Kingfisher, Whitbread, BT Group and Mediclinic among biggest risers May 25, 2018 The FTSE 100 closed up 20 points today on 7,737 after a late rally. That marked a slight fall on last week when the market closed on 7,778 points. The biggest risers were paper giant Smurfit Kappa, Telecoms company BT, B&Q owner Kingfisher, hospitality company Whitbread and hospital group Mediclinic, which all added at least [...]
PepsiCo buys SodaStream for $3bn August 20, 2018 PepsiCo has agreed to buy Israeli drinks firm SodaStream for $3.2bn (£2.5bn), in a sign that the company intends to persist with its healthy product ambitions amid the departure of its long-reigning chief executive. The landmark deal comes several weeks after PepsiCo boss Indra Nooyi said she would step down after 12 years of leading [...]
Intu’s property empire loses £300m of value as retailers shut up shop October 23, 2018 Intu took a £300m hit to its property valuation in its latest quarter, also cutting its rental growth forecast amid the UK’s high street decline, it revealed today. The shopping centre chain is currently mulling a £2.9bn takeover offer from a consortium including British billionaire John Whittaker, Saudi investment group Olayan, and Brookfield Property Group. [...]
Chinese behemoth Alibaba hails significant revenue hike, despite profit blip August 23, 2018 Alibaba today bolstered its position as China’s largest online retailer, revealing revenue growth of 61 per cent for its first quarter. The group published an income of 80.9bn yuan (£9.2bn) in the three months ending June, marginally ahead of forecasts, and an increase in customers on the Taobao shopping platform as 576m people flocked to the website and app, up four [...]
DIY SOS: Travis Perkins warns Wickes profits will be lower as consumers spend less on home improvement July 31, 2018 Wickes parent Travis Perkins warned this morning that the home improvement retailer’s profits will be lower than expected due to a weaker consumer backdrop in the UK’s DIY market. Shares dropped more than eight per cent in early trading. The figures The business, which also has several trade-facing units, reported like-for-like revenue growth of 4.2 [...]
Wesfarmers culls Homebase’s exec team just days after acquisition from Home Retail Group completes March 2, 2016 Homebase's new owners Wesfarmer is launching a cull of the DIY chain's leadership team, just days after the acquisition was completed. Managing director Echo Lu, who joined the business last April, has already left the business, while finance director Don Davis, commercial director Paul Emslie, retail operations director Ewan McMahon and marketing director Chris McDonough – [...]
Ultimate Products’ London IPO has been priced at £105m ahead of it joining the main market next week March 1, 2017 Ultimate Products' offer price has been set at 128p, which will equate to a market capitalisation of approximately £105.2m. The offer comprises 41,084,800 shares, representing 50 per cent of the company’s issued share capital on admission. Shore Capital is acting as sponsor, global co-ordinator and bookrunner to the Company, and Cenkos is acting as joint bookrunner. [...]
Consumer goods group Ultimate Products heads for a £100m-plus IPO in the next few days March 1, 2017 Ultimate Products, the innovative consumer goods group, is set for a £100m-plus IPO in London within days. It will list on the main market under the name of UP Global Sourcing Holdings. The IPO’s pricing could take place as early as today. The placing is understood to be substantially oversubscribed with investors taking part believed [...]
Homebase to be rebranded Bunnings after Wesfarmers completes £340m acquisition from Home Retail Group – now what’s happening with Argos? February 29, 2016 Home Retail Group has sold off its DIY chain Homebase to Australian group Wesfarmers, after shareholders voted 99.3 per cent in favour of the move. The deal, which was first submitted in December, valued the 265-store home improvement business at £340m. It was approved at an AGM last week and the deal was completed on Saturday [...]