Asos prepares job cuts as sales slump July 7, 2019 Around 100 jobs are at risk at Asos’s London headquarters as the online retailer battles with slumping sales. The fast-fashion brand is consulting on a round of redundancies, which will mainly affect the marketing department, the Sunday Times reported. Read more: Eurozone retail sales see suprise fall in May Asos issued a warning in December, [...]
Podcast: Why invest in AIM shares? June 27, 2019 AIM is 24 years-old! To celebrate, our head of equity strategy Lee Wild and head of markets Richard Hunter discuss why it can be a happy hunting ground for investors, and how to do it successfully. AIM was launched in 1995, has a combined market capitalisation of more than £70 billion, and is home to [...]
Why ASOS just dived to a multi-month low June 26, 2019 By Graeme Evans from interactive investor. With an impressive recovery in 2019 unwinding in spectacular fashion, how far will the shares fall? A downgrade for ASOS (LSE:ASC) shares yesterday flagged margin pressures as the former high-flying stock attempts to drive global expansion in the face of fast-fashion rivals including Boohoo (LSE:BOO). The note from UBS analyst Olivia Townsend suggests that recent [...]
Ethical clothing move by Asos aligns with views of eco-conscious June 26, 2019 Fast fashion is an increasingly hot topic as consumers become more environmentally aware, conscious about the impact of their shopping habits and look to reduce waste. Despite this, environmentally positive changes have been slow or non-existent, such as the recent rejection of the 1p fast fashion tax by government that would have raised money for [...]
G20 vows to crack down on tech giant tax havens by 2020 June 9, 2019 Tech giants such as Facebook and Google will face a crackdown to ensure they pay their corporate taxes in full, after G20 finance ministers vowed to wrap up new laws by the end of the year. In a communique issued after a meeting in Japan, the finance ministers said they would compile new rules to [...]
Sir Philip Green must stump up extra £50m to save Arcadia from administration May 31, 2019 Sir Philip Green must plough another £50m into the pension scheme of his Arcadia retail empire to prevent it collapsing, it is reported. Read more: Sir Philip Green to close Miss Selfridge's flagship Oxford Street store The Pensions Regulator (TPR) has ordered the Topshop tycoon to add the £50m in addition to £100m his family [...]
Here’s why Boohoo shares are climbing higher May 2, 2019 By Graeme Evans from interactive investor. Stock markets are struggling on boohoo's results day, but the retailer is defying the gloom. Fast fashion is back in vogue on the London market, with well-received results from Boohoo adding to euphoria over a spectacular 2019 for shares in AIM-listed rival ASOS (LSE:ASC). Their recent turnaround follows an [...]
UK investment banker speaks of grief after losing two children in Sri Lanka suicide bomb attacks April 24, 2019 A UK investment banker who lost two children in the Sri Lanka bomb attacks has spoken about his desperate attempt to save them. Matt Linsey, founder and managing partner of North of South Capital, told CNN that Amelie and Daniel Linsey were walking back from the Shangri-La hotel buffet when a bomb exploded. Read more: [...]
Fast fashion: Boohoo profit piles up as online retailer forges ahead of competitors April 24, 2019 Boohoo’s shares rose this morning as it announced it has bucked the trend in the struggling clothing retail sector with a 49 per cent rise in profit. Read more: Boohoo shares fall despite explosive sales growth The so-called fast fashion retailer, which targets 16-30 year olds with its Boohoo, Nasty Gal and Pretty Little Thing [...]
Three children of Asos tycoon killed in Sri Lanka massacre April 22, 2019 The billionaire owner of online fashion giant Asos has lost three of his four children in the Sri Lanka bombing attacks. A spokesperson for Anders Holch Povlsen, Denmark’s richest man, confirmed this morning that three of the retail tycoon’s children were killed in yesterday’s Easter massacre. "I can confirm that three children have been killed. We [...]