Matalan’s founder John Hargreaves makes last attempt to retain control December 18, 2022 John Hargreaves has reportedly made a last attempt to keep control of Matalan, making a 50-50 offer with Elliot Advisors’ private equity arm. The 78-year-old businessman, who floated the company almost 25 years ago, is among one of Matalan’s four potential buyers. The other three are the retailer’s senior lenders and private equities Alteri and [...]
Peloton loses almost £100m as UK arm sheds hundreds of jobs August 12, 2024 The UK arm of Peloton lost almost £100m and shed hundreds of jobs, it has been revealed. The London-headquartered division has posted a pre-tax loss of £98.1m for the 12 months to June 30, 2023, according to newly-filed accounts with Companies House. Peloton previously posted a pre-tax loss of £173.7m for its prior financial year. [...]
Biscuit lovers help lift Fortnum & Mason’s back from the brink January 16, 2023 Fortnum & Mason has returned to profitability following two successive years of losses. The historic British department store and grocer reported an operating profit of £6.1m on sales of £187m when its year ended on 10 July 2022. This marks a dramatic turnaround from the £2.7m loss the luxury food store posted in its previous [...]
Frasers’ buying spree continues as it snaps up online bike store Wiggle March 3, 2024 Sports Direct owner Frasers Group has bought online bike store Wiggle out of administration, betting that demand for bikes will eventually recover.
DFS Furniture enjoys lockdown cushion as online sales soar March 9, 2021 DFS Furniture’s revenue soared to £572.6m in the final six months of last year as consumer demand for new home furnishings jumped in lockdown. Revenue increased 17.3 per cent compared to 2019, despite the closure of non-essential retail during Covid lockdowns, boosted by a 66.2 per cent surge in online sales. Shares in the furniture [...]
Retail investors boost August flows as market recovery continues October 1, 2020 UK savers ploughed £1.8bn into retail funds last month as the fund market started to show signs of a post-Covid recovery. Volatility within bond markets has calmed somewhat as a result of central bank stimulus, which is in turn attracting investors. Read more: Investors turn their back on UK equity funds due to Brexit jitters [...]
Self-isolation nation: Recovery sluggish as GDP climbs 0.1 per cent in July September 10, 2021 The UK economy grew just 0.1 per cent in July as the post-Covid recovery continued to slow. New official figures released this morning showed a significant fall from June’s one per cent growth, with the economy still 2.1 per cent below its pre-pandemic peak in February 2020. Chancellor of the Exchequer, Rishi Sunak remained positive [...]
Londonmetric sells off £30m of former LXi assets following ‘mega-merger’ May 30, 2024 Property firm Londonmetric has sold more than £30m worth of retail units, including an Asda supermarket and two former Cazoo showrooms.
Over half of businesses confident turnover will rise in the next year despite current stagnant sales April 4, 2023 Most firms have seen no boost to sales this quarter despite rising levels of confidence, a key economic report has revealed, as inflation remains the key concern for business. The British Chamber of Commerce’s (BCC) quarterly economic survey (QES) found in spite of rising optimism, only a third of firms saw sales increase in the [...]
The Queen of Shops: Helen Dickinson on Brexit, Labour and the changing face of retail August 5, 2024 Ali Lyon sits down with the head of the British Retail Consortium to discuss Brexit, Labour and the changing face of retail