Up-to-date coverage of the latest events in UK retail.
7:22am Dunkerton’s Superdry hopes dealt blow by shareholder advisory firm
Julian Dunkerton quest to return to the business he founded has been dealt a blow by influential shareholder advisory firm ISS.
ISS has recommended that shareholders vote against co-founder and former chief executive Dunkerton’s reappointment to the Superdry board.
It has also urged shareholders to oppose the appointment of his running mate, Boohoo chairman Peter Williams at the April 2 extraordinary general meeting requisitioned by the Dunkerton.
7:14am Findel urges shareholders to hold steady as Ashley circles business
Findel has urged its shareholders to take no action as Mike Ashley circles the business having rejected the mogul’s bid, which it believes “significantly undervalues” it.
Ashley’s Sports Direct has made an offer of 161p per share, which the Findel board has unanimously rejected.
7:06am Kingfisher plans for Laury’s exit as profits crash
Kingfisher has begun to lay the plans for its next chief executive appointment against a backdrop of falling profits.
The business has commenced succession planning as part of its move to replace Laury. Larry is three years into her five-year transformation plan of the business, which has so far failed to bear fruit.
Pre-tax profits plummeted 52.8% at the retailer despite sales inching up as Laury’s One Kingfisher plan once again did not deliver.
Laury’s departure date has not yet been set.