Alive and kicking: JD Sports thrives in struggling high street environment September 11, 2018 JD Sports sprinted ahead of its high street rivals as it boosted both profit and revenue margins in its interim results today. The figures The shoe and sportswear retailer posted a 35 per cent year-on-year hike in revenue to £1.85bn for the six months to the end of August while profits before tax stepped up [...]
House of Fraser brings in advisers to consider store closures April 19, 2018 House of Fraser has become the latest retailer to look into store closures and rent reductions. The department store chain has brought in advisers from KPMG, Sky News reported, putting a company voluntary arrangement (CVA) on the table. This could involve closing some of the company’s 59 stores, as well as reducing rents at other [...]
House of Fraser’s lenders call in advisers EY as high street crisis continues March 24, 2018 House of Fraser has become the latest household name to send out warning signals, as its lenders have appointed EY as advisers to check its ongoing viability as a business. In a year that has already seen the collapse of Toys R Us and Maplins, a syndicate of banks acting as lenders to House of [...]
Sports Direct’s Mike Ashley lands Agent Provocateur deal March 2, 2017 Agent Provocateur has been snapped up by a company part-owned by retail tycoon Mike Ashley, owner of Sports Direct. Alix Partners were appointed as administrators of the company today and immediately sold it to Four Holdings, which is 25 per cent owned by Sports Direct. Ashley fought off private equity firm Lion Capital to secure the deal, and [...]
Mike Ashley wants you to know something about his Agent Provocateur takeover March 7, 2017 Sports Direct founder Mike Ashley's recent foray into frilly knickers may have raised eyebrows – but he wants you to know it wasn't just him who bought the lingerie retailer. In a statement today, Sports Direct clarified the £30m acquisition was made by Four Holdings, a company in which it owns a 25 per cent [...]
Debenhams profit drops 84.6 per cent and CFO leaves for greener pastures April 19, 2018 Debenhams announced a dramatic drop in profits this morning, while its finance chief departed the company for a position at Selfridges. But chief executive Sergio Bucher insisted that the retilaer is on the right track to return to profitable growth. Shares in the company were down as much as 12.6 per cent in early trading [...]
Game Digital’s shares jump on news of e-sports areas in Sports Direct’s stores February 12, 2018 Game Digital’s shares have jumped by 10 per cent this morning after it announced it was opening e-sports areas in Sports Direct’s shops. Sports Direct bought a stake in Game in July last year after the company issued a profit warning. Today, chief financial officer Jon Kempster said the new partnership with Game showed how [...]
Sports Direct’s pay policy and Mike Ashley’s dominance slammed by key investor February 1, 2017 Beleaguered retailer Sports Direct has been slammed by a top investor over its remuneration policy and founder Mike Ashley's dominance. Standard Life Investments has called for big changes at the retailer in its annual governance report. The asset manager is the fourth largest shareholder in Sports Direct with a 3.5 per cent stake. As at December [...]
Regulators make Mike Ashley backed firm pay £12.5m back to customers February 17, 2017 A division of Findel, the London-listed firm backed by Sports Direct, has agreed with financial regulators to pay £12.5m back to customers for insurance products that "offered little or no value". Personal shopping firm Express Gifts, one of the two main divisions of Findel, sold either property insurance or purchase protection insurance products to customers between 2005 and 2015. [...]
Sunday Times Rich List 2017: The wealth of Britain’s billionaires has boomed despite Brexit, but Mike Ashley, Sir Philip Green and Selfridges owning Weston family lose millions May 7, 2017 The wealth of Britain’s richest has rocketed with more billionaires than ever before, new figures reveal. Brexit failed to derail the rise of the super-rich and the collective cash of the world’s wealthiest topped a whopping £658bn – that’s up 14 per cent on last year. There are now 14 more billionaires in Britain than [...]