Derwent’s Baker Street project enters next phase as rent collection picks up May 6, 2021 Derwent London’s ambitious mixed-use Baker Street project entered the next phase as construction firm Erith won the contract on the scheme. Erith beat other companies to the £3m deal, which will involve knocking down existing buildings on Baker Street, George Street and Blandford Street. The news comes as the property giant presented its first quarter [...]
Next raises profit outlook on strong winter sales May 6, 2021 Next has raised its profit outlook for the second time in two months as the high street retailer reported stronger than expected sales for the winter period. The group raised its pre-tax profit guidance for the year to £720m, up from £700m forecast in April. Shares jumped 0.9 per cent to 8,200p at market open. [...]
‘Light at the end of the tunnel’ for Superdry after reporting return to growth May 6, 2021 Superdry sees “light at the end of the tunnel” after reporting a return to revenue growth in the fourth quarter, boosted by its ecommerce division. In a trading statement Superdry said it had been “substantially impacted” by the pandemic with group revenue for the full year down 21 per cent year-on-year to £556.6m. However the [...]
United Oil and Gas hails ‘landmark year’ despite Covid crisis April 26, 2021 United Oil and Gas this morning hailed a “landmark year” for the AIM-listed firm despite the carnage caused by the coronavirus pandemic. The company, one of the few smaller oil and gas firms to operate both exploratory and production assets, posted its first ever profit in 2020. United also said that it had seen its [...]
Yougov acquires open banking start-up Lean App April 26, 2021 Data analytics firm Yougov has acquired open banking start-up Lean App to help improve its services with financial transaction data. Lean App has been acquired by Yougov on a three year earn-out, tied to enriching and expanding the research company’s data in the UK and the US. Lean App’s founders – Luke Dugdale, Tom Stuart, [...]
Superdry appoints ex-Helly Hansen boss as chairman April 26, 2021 Superdry has appointed the former boss of Norwegian sportswear brand Helly Hansen as its new chairman. The retailer announced this morning that Peter Sjolander will join the board on 29 April, with current chairman Peter Williams stepping down on the same day after two years in the role. Sjolander, who was Helly Hansen’s chief executive [...]
Marks & Spencer expands online presence to more than 100 markets with launch of 46 new websites March 8, 2021 Marks & Spencer (M&S) has launched 46 new flagship websites across the world, expanding its online reach to more than 100 countries. The launch, announced this morning, is part of M&S’s plan to “turbocharge” its online business, and almost doubles the number of international markets where it has a pureplay online presence. In it’s most [...]
Superdry poaches new finance chief from Marks & Spencer’s clothing division February 11, 2021 Fashion retailer Superdry has poached a senior Marks & Spencer director to be its new chief financial officer. Shaun Wills, who has served as the finance director of M&S’s beleaguered clothing and home division since 2018, will join Superdry at the end of April. Wills, who has worked in the retail sector for 30 years, [...]
AO World revenue surges on demand for electrical goods over Christmas January 19, 2021 AO World reported significant revenue growth in the third quarter after strong demand for electrical goods in the run-up to Christmas. The online electrical retailer reported UK revenue growth of 67.2 per cent to £457.3m, while German sales jumped 77.4 per cent to €73.6m. The company, which sells washing machines, fridges, TVs and laptops, has [...]
Superdry woes continue as it flags going concern doubts January 19, 2021 Embattled retailer Superdry has flagged going concern doubts after lockdown took another hit to its revenue. Superdry’s underlying losses before tax widened to £10.6m from £2.3m in the same period the previous year. Superdry’s share price plunged more than 11 per cent to 213.40p this morning. It came as revenue plunged 23.4 per cent to [...]