Asos shrugs off last year’s woes as sales soar 20 per cent July 7, 2015 Asos is surging ahead in the UK – but international growth and currency headwinds are still dampening the etailer's earnings. The figures: Retail sales were up an impressive 20 per cent for the four months to 30 June, with the UK up 27 per cent, while international sales were up 16 per cent. International sales [...]
Primark parent Associated British Food’s share price rises as profits climb but currency woes take their toll April 19, 2016 Profits were up across the board at Associated British Foods for the first half of the year – but currency woes have hurt top line growth. The figures Group revenue for the Weston-owned business stood at £6.12bn over the 24 weeks to 27 February, down two per cent on an actual basis or up two [...]
French Connection losses widen as Next mastermind Christos Angelides joins the board, though the share price slides March 15, 2016 High street fashion chain French Connection has reported its sales have continued to slide in the last year, down eight per cent at £164.2m. The company posted a loss of £4.7m, a substantial increase on the £0.8m loss in 2015. In an attempt to shore up its board FCUK has brought on former Next director Christos Angelides as [...]
Missguided website crash: 50pc off sales causes technical problems for online retailer and leaves customers unable to complete orders March 14, 2016 The website of online retailer Missguided has suffered technical problems after announcing a sale leaving many of its customers unable to complete orders. An offer for 50 per cent off appears to have left the retailer, which counts Asos and Boohoo.com among its rivals, struggling to cope. Shoppers turned to Twitter to express their disappointment and frustration [...]
Best of the Brokers for 18 December 2015 December 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com TRINITY MIRROR Analysts at Liberum have reiterated a “buy” rating for Trinity Mirror despite the firm losing its appeal against the level of phone hacking damages awarded against it and increasing the level of provisions by £13m to £41m. Liberum reckon this is [...]
Korn Ferry: Retail sector shake-up drives 40 per cent rise in new chief executive appointments in 2015 March 7, 2016 Retailers made a wave of chief executive officer (CEO) appointments last year as businesses came under pressure to improve their performance and battle declining footfall. Executive search firm Korn Ferry’s latest retail CEO tracker released today shows that there were 45 hires across the sector last year, an increase of 41 per cent on the [...]
Asos share price opens lower after “Black Friday” style outage as customers clamour for discount June 1, 2015 Shares in online retail giant opened 1.5 per cent lower at 3,630p after a day-long outage prevented thousands of customers from taking advantage of a 20 per cent discount. Banners on the website advertised a 20 per cent discount on "Every. Single. Thing", causing customers to flock to the site. But it failed to stand [...]
Next widens and lowers full year guidance amid weaker demand for clothing and a slowdown in spending May 4, 2016 Next has widened and lowered its full year guidance on profits amid greater uncertainty in the retail sector, following its previous warning that the year ahead could be the worst since 2008. Presumably investors appreciated the heads up: Next's share price was up 2.5 per cent in early trading and as the day wore on [...]
Koovs revenues soar but losses widen December 22, 2015 Revenues at Waheed Alli's Indian etailer Koovs have rocketed in the six months to 30 September – but losses have widened as the firm expands. The figures Sales at the London-listed fashion business soared 144 per cent to INR199.2m (£2m), up from INR81.7m last year. But losses widened to INR570.6m, up from INR359.5m last year. The company said [...]
Asos profit hurt after lowering prices overseas April 1, 2015 SHARES in Asos jumped as much as nine per cent yesterday after the online fashion giant drew a line under last year’s disastrous performance and posted a better-than-expected decline in first-half profit. The group, which targets twenty-something shoppers, had a rollercoaster year after a fire broke out at its warehouse in Yorkshire and international sales [...]