Sports Direct to rebrand as Frasers Group as Mike Ashley attempts to elevate image November 25, 2019 Sports Direct International has announced it will rebrand as Frasers Group as retail tycoon owner Mike Ashley attempts to improve the company’s image. The proposed rebrand, which will be voted on by shareholders on 16 December, follows the announcement that the company is planning to launch a chain of of luxury high street stores named [...]
Ebay to sell Stubhub to Viagogo for $4bn November 25, 2019 Ebay has agreed to sell its ticket sales platform Stubhub to Viagogo in a deal worth $4.05bn, following pressure from activist investors to offload parts of its business. The auction site bought Stubhub for $310m in 2007, but in March this year it launched a strategic review of its assets following pressure from activist investors [...]
Asos appoints first chief growth officer November 25, 2019 Asos has appointed its first chief growth officer to strengthen its senior management team as it recovers from a drop in profit following a botched international expansion. The online retailer said Robert Birge, who was previously chief marketing officer at travel search site Kayak and media agency IMG, will join the company on 3 December. [...]
Intu sells retail park to New River REIT for £40m November 25, 2019 Retail landlord Intu has sold a Northern Ireland retail park to property investment trust New River REIT for £40m. The sale of Sprucefield Retail Park in Lisburn brings Intu’s year-to-date disposals total to £268m, as the shopping centre operator aims to fix its balance sheet. Read more: New River REIT swings to a loss on [...]
The Restaurant Group shares fall as Wagamama reports slowing growth November 25, 2019 Wagamama owner The Restaurant Group suffered a share price drop this morning after the Asian fusion chain reported slowing sales growth in the second quarter. Like-for-like sales growth was 6.3 per cent in the UK, less than half the 12.9 per cent growth reported in the first quarter of the year. Read more: The Restaurant [...]
Retail sales improve in run up to Christmas November 25, 2019 UK retailers saw sales improve in the year to November after six months of decline as high street stores gear up for the crucial Christmas trading period. Retailers reported largely unchanged sales volumes this month, driven by strong grocery sales, and the industry expects growth to return in the year to December. Read more: Shoppers [...]
Just Eat tells shareholders not to accept Prosus takeover offer November 25, 2019 Just Eat has advised shareholders not to accept a takeover offer from merger gatecrasher Prosus, urging them instead to stick with its agreed deal with Takeaway.com. Prosus, which is controlled by South African investment giant Naspers, is threatening to derail Takeaway’s takeover efforts after tabling a higher bid that valued the company at roughly £4.9bn. [...]
Cake Box shares soar on rising profits as retailer whips up a storm November 25, 2019 Cake Box, the specialist seller of cream cakes, has enjoyed a rise in profits of more than a quarter in the first six months of the year. Shares in the retailer jumped seven per cent this morning, as it reported rising revenue on the back of nine new store openings during the period. Read more: [...]
Google’s research reveals how millennial shopping habits are changing November 25, 2019 The Christmas season is a time for family and cheer. But for brands and retailers, the time between late November and early January represents the most crucial — and most competitive — period of the year, accounting for up to 30 per cent of annual sales. As journalist Katharine Whitehorn once said, “from a commercial [...]
LVMH close to buying Tiffany & Co for $16bn November 24, 2019 Luxury fashion house LVMH, the owner of Louis Vuitton, is close to buying jewellery retailer Tiffany & Co for about $16.3bn. LVMH, which also owns Dior and Moet & Chandon, is nearing an agreement to acquire the US jewellers for $135 per share, in a deal that could be announced this evening or tomorrow. Read [...]