Dixons Carphone shares plunge as it swings to £259m loss June 20, 2019 Dixons Carphone swung to a £259m loss in its latest full financial year, it revealed today, as the retailer warned investors of “more pain” to come. The revelation that Dixons expects fresh losses from it UK mobile division sent shares down 20.5 per cent to 99p in early morning trading. Read more: Dixons Carphone must [...]
N Brown share price surges on digital sales boost June 20, 2019 Sales at N Brown fell despite growth in its digital division in the three months to the start of June, it revealed today. Read more: N Brown shares plunge on ‘disappointing’ offline sales Total revenue dropped 3.8 per cent year on year even though digital sales rose three per cent, the retailer said. Digital sales [...]
Dunelm raises profit forecast after weather helps boost sales June 20, 2019 Furniture firm Dunelm has raised expectations for the year after strong sales growth in recent months driven by poor weather. The company said unseasonably favourable weather had boosted like-for-like growth in May and June as it continued to defy the UK’s gloomy retail sector. Shares in Dunelm climbed more than five per cent as the [...]
UK inflation rate hits Bank of England target: Will Carney raise rates? June 19, 2019 The UK’s Consumer Prices Index (CPI) inflation rate fell to two per cent in May, in line with the Bank of England’s target, the latest figures show. CPI inflation dropped to within the target range set by Bank boss Mark Carney from 2.1 per cent in April, the Office for National Statistics (ONS) said today. [...]
Goals ‘blocks’ Mike Ashley probe into £12m accounting crisis June 19, 2019 Goals Soccer Centre is accused of having “stonewalled” calls from its largest shareholder, Sports Direct, for an external probe into its £12m accounting crisis. Sports Direct billionaire Mike Ashley had urged Goals to green light an external investigation over fears about the scale of the accounting issues. Read more: Goals warns of weaker results amid [...]
Premier Inn owner Whitbread reports dwindling sales as Brexit uncertainty continues June 19, 2019 Premier Inn owner Whitbread reported dwindling accommodation sales in the first quarter due to ongoing Brexit uncertainty. The company, which has focused on its hotel business since selling Costa Coffee to Coca-Cola last year, said UK like-for-like accommodation sales growth fell 4.6 per cent. Read more: Premier Inn owner Whitbread warns over “acute political uncertainty” [...]
Mulberry swings to loss on tough UK retail market and House of Fraser collapse June 19, 2019 Luxury handbag maker Mulberry swung to a loss of £5m last year as the “challenging” UK retail market and the collapse of House of Fraser hit sales. The figures Mulberry reported a pre-tax loss of £5m for the year ending 30 March, down from £6.9m profit the previous year. Read more: Mulberry widens losses after [...]
Tesco shares: Reasons to be cheerful June 18, 2019 | City Talk Early selling following this Q1 update attracted bargain hunters. Our head of markets explains why. Tesco (LSE:TSCO) recovery from the dark days of having taken its eye off the ball in the UK continues apace. The radical overhaul which the business has undergone has seen Tesco’s shares rise by 50% over the last three years. More [...]
Going, going, gone! Sotheby’s sold in $3.7bn deal with telecoms mogul June 17, 2019 Auctioneers Sotheby’s is being taken private, in a deal which values the business at $3.7bn (£2.9bn), the company said today. Patrick Drahi, the founder of telecoms giant Altice Europe, will pay $57 per share, a 61 per cent premium to the firm’s close on Friday. The billionaire art collector will take Sotheby’s into private ownership [...]
Ted Baker share plunge fails to attract buyers June 17, 2019 | City Talk By Graeme Evans from interactive investor. Despite sinking to prices not seen since 2012, investing in Ted shares remains hugely speculative. Ted Baker (LSE:TED) shares are trading at levels not seen since November 2012 after another profits warning accelerated the de-rating of this former high-flying lifestyle brand. Whereas Ted’s shares had once been reassuringly expensive at around 30 times [...]