City says Asos a takover target October 6, 2014 ASOS shares soared nearly 15 per cent yesterday after analysts at UBS said the troubled online retailer was “ripe” for a takeover, with rival Amazon the most likely suitor. The company, which has issued three profit warnings in the past seven months, has been subject to previous takeover speculation, with eBay and Amazon cited as [...]
Zalando share price fizzles after explosive opening in Frankfurt stock debut October 1, 2014 Shares in Europe’s largest online fashion retailer Zalando gave up most of their opening gains on the Frankfurt stock market debut yesterday. After pricing at €21.50 shares soared as high as €24.10, but by the close of trading had retreated to just €21.569. Berlin-based Zalando started out selling shoes in Germany in 2008, inspired by [...]
Zalando shares priced at €21.50 valuing German online retailer at €4.9bn September 29, 2014 German online retailer Zalando has announced the pricing of its shares at the upper end of expectations- €21.50 (£16.79)- kicking off a bumper week for the German technology market. The six-year-old startup will make its market debut on the Frankfurt Stock Exchange on 1 October, floating 11.3 per cent of the business to raise €605m [...]
Marketing to millennials: Is Generation Y really all that different? September 21, 2014 Talking to advertising and media executives these days, you’d be forgiven for thinking that there’s an alien group lurking among UK consumers. Millennials, we are told, are different. Born between 1980 and 1995, they split their summers between south-east Asia and Bestival, often sporting torn jeans, face paint and/or a pair of Google Glasses. When [...]
Shares slump as Asos issues third profit warning September 16, 2014 ASOS suffered a wardrobe malfunction with investors yesterday, after the online fashion retailer issued its third profit warning in seven months. The former stock market darling warned it would need to cut prices across its international markets, including Australia, after the strength of sterling made the price of its clothing less appealing for customers. Asos [...]
Analyst Views: How has Asos’ update changed your outlook for the company? September 16, 2014 JOHN STEVENSON | PEEL HUNT Do we still see this business getting to £2bn-£3bn of turnover? Yes. Is the profit outlook at that level of turnover materially different than we thought it might be? Yes. FREDDIE GEORGE | CANTOR FITZGERALD After this update and the revision to 2015 forecasts, there will inevitably be questions over [...]
London Report: Fears over Scotland and Asos statement pull down markets September 16, 2014 BRITAIN’S top share index fell yesterday, with financial stocks underperforming as investors showed reluctance to buy up new positions before tomorrow’s Scotland independence referendum. The FTSE 100 index closed down by 0.2 per cent, or 11.97 points, at 6,792.24 points, with a fall in major financial stocks weighing on the market. Retail shares took a [...]
Asos share price falls 13.7pc following poorer than expected sales growth September 16, 2014 Asos share price plummeted this morning following news of a poorer than expected sales growth for the three months ended August, with a warning that profits will not grow during the next financial year. Shares fell by 13.7 per cent to 2,092 pence on Tuesday, compared to Monday's value of 2,382 pence. The [...]
Entrepreneurial spirit alive and kicking in UK September 15, 2014 ENTREPRENEUR of the year The City A.M. Entrepreneur of the Year award recognises those individuals or groups who set up a successful new venture and are now growing it as a profitable business. According to campaign group Startup Britain, more than 410,000 new businesses launched in the UK in 2014 so far – up from [...]
Photobox boss Stan Laurent: The man driving Moonpig’s growth story September 14, 2014 By the end of April, it became clear to Stan Laurent that London’s doors were effectively closed to new consumer-facing internet companies. There had just been the perfect storm of disastrous market debuts from Just Eat and AO World, along with two profit warnings from Asos that triggered a sell-off in shares of fellow fashion [...]