THG: Beleaguered firm gets buyout proposal from Apollo as share price jumps 38 per cent April 17, 2023 THG’s shares surged by more than a third after the online retail platform said on Monday that it has received a preliminary buyout proposal from private equity firm Apollo Global Management APO.N, without disclosing terms of the proposal. Apollo must announce a firm intention to make an offer by May 15 or walk away, THG said in a statement. [...]
UK inflation poised to slip out of the double digits for first time since last summer April 16, 2023 UK inflation is poised to slip out of the double digits for the first time since last summer in what could be the beginning of the cost of living crisis gradually releasing its grip on families over the rest of the year. Official figures from the Office for National Statistics (ONS) on Wednesday are expected [...]
Mark Austin interview: The City needs a culture change – we have to celebrate success March 30, 2023 The City of London is at an “inflection point” reckons the man who wrote last year’s capital raising review – but a year on, with Arm gone and others plotting New York floats, there remains much to do You’d be forgiven for thinking the Square Mile is in rather dire straits at the moment. Firms [...]
Castore co-founder Tom Beahon on shelving IPO plans, bucking the Brexit trend by expanding in Europe, and the Andy Murray-backed sports brand’s first shoe launch February 15, 2023 At a time when Brexit has caused some British businesses to retreat from Europe, fast-growing premium sportswear brand Castore is eager to buck the trend. The company, founded by former City boys Tom and Phil Beahon and which counts Andy Murray among its investors, has opened a distribution centre in the Netherlands and is increasingly [...]
THG brings in new finance chief ahead of bleak looking year January 24, 2023 E-commerce giant THG has hired Damian Sanders as its new chief financial officer amid a recent slew of negative earning reports and a collapse in share price. Following a global search, the troubled British firm has landed on Sanders as the replacement for John Gallemore, who is moving over to the role of chief operating [...]
Liz Truss, Bill Hwang and Elon Musk: The 2022 awards you don’t want to win December 18, 2022 We started the year with Boris Johnson in Downing Street and optimism for a Covid-19 rebound. It didn’t quite turn out that way – and here’s our pick of the best of the best (or worst of the worst) of 2022… THE MUM OF THE YEAR AWARD This year hasn’t been smooth sailing for e-commerce retail [...]
THG shares swell after e-commerce retailer inks banking facility October 25, 2022 Shares in THG have surged after the group reported resilient sales of healthy and beauty products despite consumers tightening their belts. In third quarter results on Tuesday, the e-commerce retailer posted growth of 4.9 per cent in its beauty arm and 2.9 per cent in its nutrition division. Its share price surged by 19 per [...]
THG share price lifts after SoftBank sells stake to boss Moulding and Qatar October 18, 2022 Beleaguered retailer THG saw its share price leap after SoftBank is to sell its stake to the group’s co-founder Matthew Moulding and Qatar’s sovereign wealth fund. THG’s shares were boosted 13 per cent on Tuesday afternoon, after the loss-stricken Japanese investment management firm said it would offload its stake. SoftBank’s stake was once valued at [...]
THG share price dives after cutting yearly profit expectations September 15, 2022 THG’s share price has dived after slashing its yearly forecast, pointing to a slowdown in consumer enthusiasm for beauty and health products, In half-year results on Thursday, the retailer said it anticipates adjusted core earnings of £100m to £130m in 2022, much lower than the £161m it recorded last year and previously expected to match. [...]
Asos shares slip after fashion marketplace reminded analysts of lower profit guidance September 5, 2022 Asos saw its share price tumble on Monday, alongside several retailers including Joules and THG. The share slide followed reports that the online fashion marketplace had privately reminded City analysts on subdued guidance for the year ahead, as is a standard pre-close practice. Asos shares were subdued by almost six per cent on Monday afternoon, [...]