Moss Bros wipes out dividend as it swings to a loss after ‘extremely challenging’ year March 26, 2019 Historic men’s tailoring firm Moss Bros moved into the red this morning, blaming a turbulent trading environment for its first losses in almost a decade. Shares tumbled more than five per cent in early morning trading. Read more: Joules boss Colin Porter to take on role as Moss Bros chairman The figures In its preliminary [...]
Debenhams shares soar as Mike Ashley’s Sports Direct considers offer March 26, 2019 Debenhams has doubled down on its major restructuring strategy this morning, saying that it will continue with its plan to obtain funding hours after Sports Direct revealed it was mulling a bid for the embattled department store chain. Read more: Sports Direct mulls cash offer for Debenhams Last night Mike Ashley’s sportswear firm said that [...]
Irn-Bru maker AG Barr sees revenues edge up March 26, 2019 Irn-Bru maker AG Barr revealed a modest bump in annual profits and revenues this morning, shrugging off challenges from a new sugar tax and CO2 shortages but forecasting continued uncertainty in the months ahead. The figures In its full-year results this morning, the FTSE 250 soft drinks manufacturer said that revenue grew by 5.6 per [...]
John Lewis tumbles down UK top employer rankings March 26, 2019 John Lewis and Partners has lost its crown as Britain’s top employer following a tough 2018 that saw its profits drop by 45 per cent, according to a yearly survey released today. Read more: John Lewis profits plummet 45 per cent in ‘challenging’ market Wren Kitchens now tops the list of UK employers as ranked [...]
Sports Direct mulls cash offer for Debenhams as Ashley looks to seize control March 25, 2019 Sports Direct has said it is considering a bid for Debenhams just hours after owner Mike Ashley branded the troubled department store’s rescue plan “unworkable”. The retail tycoon’s firm said in a statement after close this evening it was weighing up an offer for the firm “alongside other options”. It said the bid would likely [...]
Watchdog slams Co-op’s treatment of suppliers after breaking industry code March 25, 2019 The Co-op has come under fire today after a year-long investigation from Britain’s groceries watchdog has found "widespread" failings in its relationship with suppliers. The Grocers Code Adjucator (GCA) Christine Tacon has demanded that the retail giant makes major changes after breaching several supermarket codes of practices. Co-op failed to provide reasonable notice to suppliers of [...]
Nike hit with €12.5m EU Commission fine over football merchandise breach March 25, 2019 Nike was slapped with a multi-million pound fine today after an EU regulator said that the US sportswear giant had blocked cross-border sales of football merchandise. The European Commission hit Nike with a €12.5m (£10.7m) penalty after accusing it of restricting the sale of merchandise carrying the brands of top football clubs that did not [...]
ASOS and Bonmarche in share price collapse March 25, 2019 | City Talk By Graeme Evans from interactive investor. Investors in these two high-profile retailers ran for the hills following the latest trading updates. While ASOS (LSE:ASC) and Bonmarche (LSE:BON) operate in two very different retail worlds, the pair have plenty in common from an investor viewpoint after their December profit warnings were followed by more disappointment last [...]
‘Fat finger’ causes share drop at LVMH Moet Hennessy Louis Vuitton March 25, 2019 Luxury fashion house LVMH Moet Hennessy Louis Vuitton suffered a shock dip in its share price early this morning, with investors suspecting a computer slip-up known as the ‘fat finger’ for the drop. LVMH’s share price sunk to its lowest levels in more than a month at the opening bell, tumbling almost nine per cent. [...]
Kodak shows how to compete with startups if you’re a heritage brand March 25, 2019 The digitalisation of our world has given with one hand and taken away with the other. It has created opportunities for new companies, and made household names such as Amstrad computers and Woolworths entirely redundant. Technological advancements have facilitated the emergence of startups that thrive on disrupting traditional business models. However, the decline of established [...]