All City & finance articles – Page 83
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InterviewInterview: How Crew Clothing’s boss is building 'Ralph Lauren of middle England'
“I want Crew Clothing to become the Ralph Lauren of middle England.” It is a bold and ambitious statement from Crew’s chief executive David Butler, who has led the business since 2017 and has grand designs to grow it into the “most successful mid-market player” in UK fashion.
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NewsMike Ashley's Frasers Group builds 5% stake in Asos
Mike Ashley’s Frasers Group has built up a shareholding of more than 5% in online fashion operator Asos.
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NewsMorrisons kicks off supermarket sale and leaseback plans
Morrisons has kick-started plans to sell off some of its supermarkets in a bid to raise cash during difficult economic conditions.
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NewsWickes warns of spiralling energy bill as sales rise
Wickes has warned its energy bill is set to soar by £7.5m next year as it flagged the impact of “uncertainties” surrounding operating cost inflation and consumer confidence.
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NewsDeliveroo reduces sales expectations amid ‘ongoing economic uncertainty’
Deliveroo has cautioned that full-year sales growth will come in at the lower end of expectations as it grapples with “ongoing economic uncertainty”.
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Opinion‘Asos – in a world of data, company spirit matters and culture still eats strategy for breakfast’
Asos’ new chief executive is wise to want ‘refresh’ its culture – it is the foundation stone of commercial success, writes George MacDonald
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NewsDunelm reports ‘robust’ trading despite sales fall
Homewares specialist Dunelm has posted a fall in quarterly sales but described trading as “robust” and maintained profit forecasts in the face of tough trading conditions.
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AnalysisResearch: Marketing spend on PPC, TikTok and TV will rise in 2023, 57 CEOs reveal
Digital channels will dominate marketing spend next year, while TikTok gains on its social rivals and TV advertising attracts investment, the UK’s leading CEOs reveal in Retail Week’s strategic outlook report Retail 2023
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NewsExclusive: Wilko drafts in advisers as it eyes further cost-cutting measures
Wilko has drafted in advisory experts Teneo as it seeks to cut costs across the business in the face of the cost-of-living crisis.
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NewsNew Asos boss lays out 12-month turnaround plan as it swings to loss
Asos swung into the red as it struggled against an “incredibly challenging economic environment”.
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NewsExclusive: Fenwick sales rise and losses slashed after weaning itself off ‘discounts drug’
Department store business Fenwick increased sales and cut losses last year as it turned pandemic challenges into opportunities by changing its business model.
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NewsFrasers’ MySale offer goes unconditional as share threshold crossed
Frasers Group’s offer for online retailer MySale has gone unconditional after passing the 50% control threshold.
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NewsThe Hut founder Moulding adds to stake as SoftBank bails out
Matt Moulding has increased his shareholding in THG – formerly The Hut – after investor SoftBank unloaded its shares at below the etailer’s IPO valuation.
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NewsBensons for Beds rescues Eve Sleep out of administration
Embattled mattress retailer Eve Sleep has been rescued out of administration by Bensons for Beds.
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NewsGovernment U-turn on VAT-free shopping is ‘hammer blow’ for UK retail
UK retail representative bodies have called the government’s decision to roll back promised VAT-free shopping a “hammer blow” for an industry still struggling to recover fully from the pandemic.
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NewsAsos in 'final stages' of agreeing new financial covenants to avert cash-flow crisis
Pureplay fashion retailer Asos is in the “final stages” of agreeing new financial covenants in its revolving credit facility, following media speculation that one of its major insurers had cut cover.
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NewsEve Sleep abandons sale process and appoints administrators
Mattress-in-a-box brand Eve Sleep has drafted in administrators after abandoning its bid to find a buyer to turn around its fortunes.
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Opinion‘Marks & Spencer boss Machin counts down the days to greater growth’
Marks & Spencer is building on the foundations left by Steve Rowe and taking important steps for serving customers better and securing growth, writes George MacDonald
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NewsMarks & Spencer speeds up store churn programme
Marks & Spencer is to accelerate its churn of space, including store closures, as part of a ‘reshape for growth’ strategy.
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NewsJD Sports chief financial officer to step down
JD Sports chief financial officer Neil Greenhalgh is to leave the retailer next year.