Mike Ashley’s empire tightens grip on Boohoo as crunch vote nears November 15, 2024 Mike Ashley’s Frasers Group has continued to up its stake in Boohoo as a war of words over the future of the fast-fashion giant rumbles on. The owner of the likes of Sports Direct and House of Fraser now has a 28 per cent stake in the Manchester-headquartered group, which itself features brands such as [...]
WH Smith: Profit jumps as expansion into travel shops pays off November 14, 2024 WH Smith’s push into travel has paid off with the bulk of its growth in the last year due to higher profit at airports, train stations and motorway services. WH Smith’s revenue rose seven per cent to £1.918bn in the year ended 31 August, 2024, driven by growth in travel shops plus the company’s expansion [...]
Pressure on incomes helps B&M grow as value retailer targets 1,200 stores November 14, 2024 Value retailer B&M Bargains has posted a tick-up in revenue as demand for bargain goods has remained high amid pressure on incomes and a higher tax burden. The Liverpool-based group, which included Heron Foods, said group revenue in the half year to 28 September increased by 3.7 per cent to £2.6bn. While this is lower than growth last [...]
Boohoo urges shareholders to reject Mike Ashley’s demands November 14, 2024 Boohoo has urged its shareholders to reject Mike Ashley’s demand to be placed in charge of the struggling fast fashion group, saying that that Ashley is “not suitable” and subject to conflicts of interest due to his role at Frasers. Boohoo and Frasers have been engaged in a public disagreement over how to take the [...]
Burberry: Firm axes dividend as group slumps to loss November 14, 2024 Burberry has slumped to a loss and axed its dividend for the first half of its financial year as sales at the British luxury house plunged. In its interim results for the 26 weeks to 28 September, the group reported an operating loss of £53m, down from a profit of £223m in the same period [...]
Homebase sold in rescue deal to CDS but 2,000 jobs still at risk November 13, 2024 Homebase has been sold in a rescue deal to retailer CDS in a move securing up to 1,600 jobs and 70 stores, administrator Teneo has said, but around 2,000 workers and 49 shops still remain at risk.
What Homebase staff and shoppers need to know as ‘Del Boy billionaire’ behind The Range nears rescue deal November 13, 2024 Staff at DIY chain Homebase and its customers have been issued advice as the so called ‘Del Boy billionaire’ behind The Range edged closer to a rescue deal. It emerged this morning that Chris Dawson is in talks to snap up around 70 Homebase stores as part of a pre-pack administration. Speaking to The Telegraph, [...]
Cycling brand ASSOS of Switzerland hits Asos with legal action November 12, 2024 Premium cycling brand ASSOS of Switzerland has launched legal action to a British court against UK fast fashion giant Asos, Morning Wire can reveal.
Harrods faces major Christmas strike as staff demand inflation-busting festive bonus November 11, 2024 London’s iconic department store Harrods is facing the prospect of major strike action by its staff over the critical Christmas period. Hundreds of staff, who are members of the United Voices of the World (UVW) union, will vote on strike action in December over what they have described as “poor working conditions” and their festive [...]
Burberry braced for Moncler takeover as staff given heads up November 11, 2024 Luxury fashion house Burberry is braced to be taken over by Italian company Moncler amid staff at one of its flagship London stores being given a heads up on the deal, according to reports. Rumours began to circulate last week that the listed brand was set for a takeover by the skiwear maker, but both [...]