House of Fraser posts record sales in first year under Nanjing Xinjiekou as it ramps up international expansion April 21, 2015 House of Fraser's new owners will be toasting their decision to acquire the business, which has revealed record like-for-likes for the year. The figures Like-for-like sales at the department store were up 5.8 per cent, with gross total value (GTV) rising to £1.3bn. Profits rose £29.6m to £460.2m while adjusted EBITDA rose seven per [...]
From Thomas Cook to the Prosecco shortage: Here’s what got us talking this week May 22, 2015 There was a bomb. There was an earthquake. And there was, very nearly, a nation-wide rail strike. Here's what got us talking this week. 1. Panic stations over Prosecco and…er… eggs We don't know which is worse. Well of course we do. Still a global egg shortage is pretty alarming. But cards on the table, [...]
Derek Llambias, Sandy Easdale and Barry Leach suspended from Rangers as new board launches investigation March 10, 2015 Rangers Football Club has suspended former executives Derek Llambias, Sandy Easdale and Barry Leach pending an investigation. The trio – who were respectively chief executive, chairman and finance director until they were ousted by 85 per cent of shareholders on Friday – have been told to stay away from the club. Dave King [...]
Sports Direct investors attack new bonus plan for Mike Ashley June 9, 2014 Sports Direct shareholders lashed out yesterday, claiming they had not been consulted on the latest proposal for a bonus share scheme that seeks to reward its founder Mike Ashley. The retailer has set out plans for a share programme that would reward Ashley alongside Sports Direct’s 3,000 employees, after shareholders rejected two earlier attempts to [...]
Manchester United, Newcastle and Aston Villa are the Premier League’s biggest underperformers judged against wage spend April 21, 2015 Manchester United, Newcastle United and Aston Villa have been three of the Premier League’s biggest underperformers in the last two seasons when judged against their respective wage bills. In the 2013/14 season, United spent more money on wages than any other Premier League team with a total wage bill of £215.8m yet finished seventh after [...]
Sports Direct share sell-down gives Ashley £117m cash boost January 20, 2015 SPORTS Direct founder Mike Ashley has employed Goldman Sachs to help him reduce his stake in the company from 58 to 55 per cent. Goldman Sachs said it was placing up to 15.4m shares in the retailer on behalf of Ashley, which at yesterday’s closing share price of 760.5p, would be worth £117m. Ashley, who [...]
Sports Direct on track for £360m profits despite winter slowdown February 19, 2015 SPORTS Direct said yesterday it remained “very” confident of achieving at least £360m of full-year underlying earnings after the poor skiing season at its Austrian business hit third quarter sales. The sportswear retailer, controlled by Newcastle United owner Mike Ashley, said sales for the 13 weeks to 25 January were up 2.6 per cent to [...]
Sports Direct shares drop with M&A chief’s sudden exit February 17, 2015 SPORTS Direct’s share price fell more than four per cent in morning trading yesterday after it emerged that its mergers and acquisitions boss Jeff Blue was leaving the retailer. Blue, a former Merril Lynch banker, was hired two years ago to spearhead takeover deals for Mike Ashley’s high street giant. He was also standing in [...]
Rangers seeks second tranche of Sports Direct loan – but warns it might not be approved March 4, 2015 Rangers is applying to draw down the second tranche of the Sports Direct loan to keep its head above water – but has warned that it might not receive the cash. The struggling football club was lent £10m by Sports Direct owner Mike Ashley at the start of the year for its urgent capital needs. [...]
Rangers shares suspended on London Stock Exchange following WH Ireland resignation March 4, 2015 The AIM market has suspended trading of shares in Rangers International Football Club (RIFC). The suspension follows the resignation of the club's nominated adviser (nomad) WH Ireland. Unless Rangers appoints a new nomad within a month the club will be removed from the AIM exchange. WH Ireland was RIFC's fourth nomad in two years. In [...]