Puregym expands in Europe with £350m acquisition of Fitness World December 12, 2019 The UK’s largest gym operator Puregym today announced the acquisition of European business Fitness World in a £350m deal. Puregym was acquired by private equity firm Leonard Green & Partners in 2017 in a deal that valued the business at £600m. Its acquisition of Fitness World gives the business a market-leading position in Denmark as [...]
New Look appoints ex-House of Fraser boss as CEO December 12, 2019 New Look has appointed former House of Fraser boss Nigel Oddy as chief executive, filling the top job for the first time in more than two years. Oddy, who joined the retailer as chief operating officer in April this year, will take on the role from the beginning of January 2020. Read more: New Look [...]
Takeover interest mounts over Sainsbury’s £1.9bn mortgage book December 12, 2019 Grocery giant Sainsbury’s has reportedly received several offers for its £1.9bn mortgage book. The Big Four supermarket chain has attracted a number of bidders as it looks to quit the home-loans market, according to Sky News. The broadcaster said that Lloyds Banking Group is understood to be among the interested parties in the auction, which [...]
Tossed owner Zest Food secures creditor backing for rescue plan December 12, 2019 Tossed owner Zest Food has secured the backing of its creditors to implement a rescue plan, which will allow its salad bar brand to continue to trade. The healthy fast food chain, which trades from 24 central London locations, said that no stores will need to close immediately, but it will seek to exit onerous [...]
Fuller’s profit slides following sale of beer business December 12, 2019 Fuller, Smith & Turner reported a fall in profit before tax for the first half, but revenue for the pub group rose slightly amid “good performance” from its managed pubs and hotels. Statutory pre-tax profit for the six months to 28 September decreased 27 per cent to £11.1m, down from £15.1m the previous year. Read [...]
Superdry boss takes swipe at Black Friday as he launches brand revamp December 12, 2019 Superdry boss Julian Dunkerton today blasted the “madness” of blanket Black Friday discounting, vowing to reduce his company’s reliance on the sales bonanza next year. Dunkerton, who founded the struggling fashion chain in 2003, took a swipe at his rivals’ practice of slashing prices on their core ranges. Read more: Superdry swings to a £4.2m [...]
Superdry swings to £4.2m loss as Dunkerton hits reset button December 12, 2019 Superdry’s swung to a £4.2m loss in its first half-year results under co-founder Julian Dunkerton since his return to the helm, the firm revealed today. Read more: Saga appoints ex-Superdry boss Euan Sutherland as new CEO The figures Superdry witnessed underlying profits implode as they sank 98.4 per cent year on year to just £200,000 [...]
Takeaway extends Just Eat takeover offer as it secures a slice of the vote December 12, 2019 Takeaway.com today said it has secured support for its Just Eat takeover offer from a chunk of shareholders, as it flexed its muscles amid a frantic bidding war with Prosus. The Dutch food delivery firm has tabled an all-share offer worth roughly £4.3bn, which has been recommended by the Just Eat board. Read more: Just [...]
Dixons Carphone narrows losses as turnaround stings retailer December 12, 2019 Dixons Carphone narrowed losses in its latest half-year performance but a turnaround strategy took its toll on profits, the mobile phone seller revealed today. Read more: Dixons Carphone suffers investor backlash over pay The figures Dixons Carphone pared its loss before tax back to £86m, from a deep loss of £440m this time last year. [...]
Ocado joint venture with Marks & Spencer ‘working well’ December 12, 2019 Ocado has said its joint venture with Marks & Spencer is “working well,” as the retail delivery giant said revenue growth slowed slightly in its latest quarter. The firm saw growth in weekly orders, but stable average order size for the 13 weeks to 1 December. Read more: Ocado sales growth accelerates after Andover fire [...]
