MySale ramps up expansion with Danish Invitetobuy acquisition September 15, 2014 MySale, the Australian flash sales site, is pushing ahead with its European expansion, after snapping up a 60 per cent stake in a rival Scandinavian website. The online retailer, which counts Sir Philip Green and Mike Ashley’s Sports Direct among its shareholders, said yesterday it planned to use its acquisition of Denmark’s Invitetobuy to launch [...]
Ashley finally set for Sports Direct bonus July 2, 2014 SPORTS Direct triumphed yesterday in pushing through a multimillion-pound bonus share scheme for founder Mike Ashley despite vehement opposition from several shareholder groups. The retail giant’s third attempt at rewarding Ashley, who did not vote, was backed by 60.4 per cent of investors – overcoming opponents to the scheme such as Scottish fund manager Standard [...]
UK supermarkets vs German discounters: Morrisons gets tough as Buffett attacks Tesco October 2, 2014 Britain’s embattled supermarkets have finally begun their fight back against German discounters Aldi and Lidl who have been eating their lunch in recent months with double-digit growth in the sector. Morrison, the UK’s fourth biggest supermarket, will launch its first customer loyalty card today, along with a price-matching scheme that its chief executive has labelled [...]
Sports Direct on a roll despite England failure September 10, 2014 SPORTS retailer Sports Direct yesterday reported rising sales and profit for the last three months, despite a soft patch during England’s poor World Cup run. The company, founded by Newcastle United owner Mike Ashley, said group sales rose 12.2 per cent for the 13 week period ending 27 July, to £711.2m, while gross profit increased [...]
Mansion blocks are real British antiques that can command impressive prices July 9, 2015 Most people think of estate agent hyperbole as a modern affliction. After all, what’s a contemporary house viewing if it isn’t peppered with “generous” reception rooms stocked with “state-of-the-art” smart systems in “vibrant” neighbourhoods? In fact, we may have the Victorians to blame for this, starting with the “mansion flat”. The term was coined in [...]
Fidelity joins rush for shares in MySale after rocky market debut June 19, 2014 US fund group Fidelity has snapped up more than six per cent of MySale, the online fashion site backed by Sir Philip Green and Newcastle United chairman Mike Ashley. The group, one of the largest mutual fund managers in the world, said it had bought 9.2m shares in MySale after it floated on Tuesday, worth [...]
Tesco in further turmoil after profits tumble December 9, 2014 Investors fled for cover yesterday as Tesco warned on profits for the fourth time in five months, raising fears in the City that the ailing supermarket could become a takeover target. Analysts at investment bank Espirito Santo compared Tesco’s demise to that of Sears in 2004, when the US retailer – once the [...]
Pensions body opposes Sports Direct pay plan June 30, 2014 SPORTS Direct faced further calls yesterday to withdraw its proposed bonus scheme to reward its founder Mike Ashley, ahead of a planned shareholder meeting tomorrow. Local Authority Pension Fund Forum (LAPFF) said it had urged its members to vote against the 2015 bonus share scheme, joining similar calls from the Association of British Insurers and [...]
Sports Direct confirms no deal for Office June 30, 2014 Sports Direct has confirmed that it is not considering an acquisition of footwear retailer Office. The FTSE 100 company said recent speculation over a possible deal was "unhelpful to the customers, staff, suppliers and other stakeholders of both companies". The board of the UK sports retailer has had its fair share of concerns over past [...]
MySale founders Carl and Jamie Jackson are no flash in pan September 15, 2014 Carl and Jamie Jackson: The winning team behind the website that started with the 2001 British Lions rugby tour down under Retail has always been a family affair for Carl and Jamie Jackson, the co-founders of MySale – a “flash” website where shoppers can buy countless brands at a discount for short periods of time. [...]