UK consumer confidence staggers in face of no-deal Brexit August 30, 2019 Consumer confidence in personal financial situations slumped in August, driven by the increasing uncertainty caused by Brexit. A measure recording changes in personal finances during the last 12 months fell by two points this month to -1, a decline of five points compared to August last year. Read more: UK consumer confidence slumps in June [...]
Dixons Carphone faces investor backlash over CEO share award August 29, 2019 Electrical goods retailer Dixons Carphone is facing an investor backlash over a share award handed to its chief executive despite a fall in the company’s share price. An estimated 15 per cent of the company’s investors are expected to oppose the remuneration report following a recommendation from shareholder adviser Institutional Shareholder Services, Sky News reported. [...]
PZ Cussons offloads brands to focus on core products August 29, 2019 Consumer goods giant PZ Cussons will offload two brands as part of a strategic shift to focus on its core product range. PZ Cussons, the owner of brands such as Carex and Imperial Leather, has sold its Greek olive oil subsidiary Minerva to Mirties Enterprises Company, a firm controlled by Luxembourg investment company Diorama Investments, [...]
Opposition to Mike Ashley builds ahead of Sports Direct meeting August 29, 2019 A third proxy adviser has today recommended shareholders attempt to oust Mike Ashley at the upcoming Sports Direct annual meeting due to concerns about a string of controversies at the FTSE 250 retailer. Institutional Shareholder Services (ISS) has joined advisory firms Glass Lewis and Pirc to recommend that investors vote against Ashley’s re-election as a [...]
On the block: Goals goes up for sale in wake of £12m fraud accusations August 29, 2019 Embattled five-a-side football operator Goals has put itself up for sale this morning, following a torrid six months that has been clouded by accusations of tax fraud. Goals Soccer Centres, which is part owned by retail magnate Mike Ashley, has said today that it is inviting offers for both the business and the assets belonging [...]
Gym Group posts blistering rise in profits as memberships surge August 29, 2019 Gym Group posted a huge rise in profitability today as it revealed earnings came close to doubling in the first half of 2019. Read more: Four years on: The fitness techniques that turned our Life & Style editor into a gym bro The figures Pre-tax profits soared 80.5 per cent to £5.6m in the six [...]
Franco Manca owner serves up revenue boost August 28, 2019 Franco Manca owner The Fulham Shore reported growing revenues as it continues to expand the pizza chain outside London. The restaurant chain has opened Franco Manca branches in Birmingham, Exeter, Leeds and Edinburgh in first half of the financial year as the group eyes opportunities outside of the capital. It also opened another London branch [...]
Profit slips at flooring specialist Headlam but sales in recovery August 28, 2019 Europe’s largest floor coverings distributor, Headlam, has reported a fall in pre-tax profit for the first half of the year, as it struggled with a subdued UK residential market and higher costs. The figures Headlam saw pre-tax profit drop to £15.97m for the first half, down from £16.42m for the same period last year. Total [...]
Thomas Cook set to receive £450m Fosun rescue package August 28, 2019 Thomas Cook is close to agreeing a rescue deal with a major shareholder that could result in the company’s delisting. The travel operator is agreeing bailout terms with Chinese investment firm Fosun that will see it throw £450m into the ailing company for a 75 per cent equity stake. Read more: Thomas Cook shares plunge [...]
WH Smith boosted by ‘strong’ performance of travel stores August 28, 2019 WH Smith said today it is on track to meet full-year expectations, helped by a strong performance in its travel stores. Read more: Shoppers rank their least favourite UK high street stores The stationer and convenience store retailer said in a trading update that its travel business – stores at stations, airports, hospitals, and service [...]