Ted Baker turnaround slows, swallowing £278m revenue loss and sales dive June 14, 2021 Covid-19 restrictions curbed customer footfall and bag sizes, which has sent ripples through fashion brand Ted Baker over the last year as it invested in pandemic turnaround measures. The brand swallowed a revenue loss of £278.5m in the year to 30 January, down 44 per cent as it bagged £352m in total. Ted Baker also [...]
‘BrewDog’s next challenge is not making matters worse’, says crisis PR expert June 10, 2021 BrewDog has suffered something of a PR disaster today after tens of former employees posted an open letter online that alleged unfavourable and damaging things about the company. More than 60 ex-BrewDog employees signed the open letter, which was posted to Twitter and alleged the brewery had created a culture of fear at its [...]
Baked goods maker Finsbury Foods whisks up dividends for June May 26, 2021 Baked goods maker Finsbury Food had a stronger second half to its financial year, the group said this morning, expecting a profit before tax of at least £15m. Its profit before tax is ahead of market expectations, the cake maker said, as it prepares to reintroduce its dividend for the year ending 26 June 2021. [...]
Ted Baker completes bank refinancing as Covid delays results May 25, 2021 Ted Baker today said it has refinanced by extending its revolving credit facility with lenders. Under the new agreement, a facility of £108m maturing in September 2022 and a restricted facility of £25m maturing in January 2022 will be replaced by a new facility of £90m reducing to £80m in January 2022 until maturity in [...]
Ted Baker bags licences to expand into Middle East, North Africa and Indonesia March 11, 2021 Ted Baker said this morning it has secured two 10-year long territory license deals, in a bid to grow further into the Middle East, North Africa and Indonesia. The retailer has extended its pre-existing Al-Futtaim agreement for retail, which now includes e-commerce rights in the Middle East and North Africa (MENA), after operating its retail [...]
Key worker demand for affordable homes boosts sales at MJ Gleeson February 11, 2021 Affordable housing developer MJ Gleeson reported a jump in homes sold in the first half due to demand from key workers and first time buyers. MJ Gleeson said revenue was up 35.8 per cent to £142.6m and profit before tax increased 52.6 per cent to £20.3m. Earnings per share in the six months ended 30 [...]
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, [...]
Royal Mail reports busiest Christmas on record as parcel revenue soars February 11, 2021 More than 496 million parcels were delivered by Royal Mail during the third quarter, the busiest period in its history. The postal service distributed 11.7 million parcels during its toughest 24 hours, 32 per cent more than the busiest day throughout the first national lockdown. Covid-19 restrictions prompted a surge in demand, leading to Royal [...]
Ted Baker races to improve ecommerce offering as online sales disappoint February 11, 2021 Fashion retailer Ted Baker said it is racing to improve its digital shopping platform as it reported disappointing online sales in the fourth quarter, which were unable to offset the impact of store closures on revenue. The firm also revealed that it will take a £5m Brexit-related hit in its full-year results, reflecting extra duty [...]
Ocado sales jump in pandemic but investment in international business slows earnings growth February 9, 2021 Online supermarket Ocado reported a jump in revenue due to a surge in demand for home food delivery services in the pandemic, but said investment in its international technology business offset growth. Group revenue increased 32.7 per cent to £2.33bn, up from £1.76bn last year, driven by 35.3 per cent growth in its retail revenue [...]