New Look posts £500m loss as turnaround continues June 25, 2019 Struggling retailer New Look has posted a £500m loss as it continues with its turnaround plan. The figures The high street chain reported a statutory loss before tax of £522.2m, compared to a £190.2m loss the previous year, due to a £423.3m goodwill and brand impairment charge related to the restructuring. However, the firm also [...]
Sainsbury’s cuts market share decline as Aldi and Lidl soar June 25, 2019 Sainsbury’s has cut short the decline in its market share as discount rivals Aldi and Lidl continue to boost sales. Customer spend at Sainsbury’s dipped 0.6 per cent in the three months to 16 June, an improvement on the 1.2 per cent decline in the previous period following its failed merger with Asda. Read more: [...]
Carpetright shares jump as turnaround plan remains on track June 25, 2019 Carpetright has reported a narrowing of losses and a return to like-for-like sales growth for the full year as it continues to roll out its turnaround plan. Read more: Carpetright shares soar as restructuring plan starts to pay off The figures Revenue fell 13.4 per cent to £386.4m in the 52 weeks to the end [...]
Boots scraps plastic carrier bags in 53 stores June 24, 2019 Boots has said it will begin to replace plastic carrier bags with unbleached brown paper bags in all of its stores across the UK. Read more: Boots mulling more than 200 possible store closures The heath and beauty chain said the new bags will be brought in from today at 53 stores, with plans for [...]
Hot cakes: Cake Box revenue rises in first year as listed company June 24, 2019 Cake Box has posted a sharp rise in revenue and profit for the full year as customers get a taste for its egg-free products. Read more: Cake walk: Cake Box revenues soar 30 per cent after summer IPO The figures Revenue jumped 33 per cent to £16.9m in the year to the end of March. [...]
Pensions Regulator boss to face questions from MPs over Arcadia deal June 23, 2019 The boss of the Pensions Regulator (TPR) is set to face a grilling from an influential committee of MPs later this week over the watchdog’s deal with Sir Philip Green to help save his fashion empire from collapse. Charles Counsell, the chief executive of TPR, is to appear before politicians just weeks after Green agreed [...]
Game recommends Sports Direct takeover offer June 21, 2019 Game has recommended shareholders approve a £51.9m takeover offer from Sports Direct. The company said Mike Ashley’s offer of 30p per share represents a “fair value” for the group. Read more: Mike Ashley’s Sports Direct lines up game takeover Game said the takeover would help it drive forward its esports initiative Belong Gaming Arenas. However, [...]
Dixons Carphone shares plunge further as hefty loss rattles investors June 21, 2019 Shares in Dixons Carphone dropped more than eight per cent this morning as investors reel from its disastrous full-year results. Read more: What’s wrong at Dixons Carphone? Analysts react to loss as shares dive The retailer yesterday revealed it had swung to a £259m loss, driven by poor trading in its mobile division, and warned [...]
Hilco eyes up struggling retailer Bathstore June 21, 2019 Restructuring fund Hilco is set to pounce on UK retailer Bathstore as it teeters on the edge of collapse, it is reported. Hilco, which has already taken over struggling high street names like HMV and Homebase, is in the process of preparing for a take over of Bathstore, according to Sky News. Read more: Now [...]
Fix the High Street June 20, 2019 I spend a lot of my life on the move. I live near Milton Keynes, my office is in London, and I spend half my time visiting our bases in New York and Los Angeles. I’ve got a lot of air miles, a screwed-up body clock and a ruthlessly controlled diary – as well as [...]
