Fund managers are reportedly slashing their stakes in Mothercare, indicating a growing vote of no confidence from shareholders for the baby products and maternity retailer. Shares in Mothercare have plunged by 71 per cent since the start of the year, thanks to a January profit warning and an update last Friday that full-year profits were likely to be even lower than the £1 million to £5 million range outlined in the January profit warning.
The UK’s largest music equipment retailer Gear4Music has seen a massive sales rise amid its full year results, driven by international sales growth. In the 12 months to February 28, Gear4Music enjoyed a 43 per cent rise in total sales to £80.1 million
The UK’s largest music equipment retailer Gear4Music has seen a massive sales rise amid its full year results, driven by international sales growth.
Literature retailer Waterstones has announced the launch of a pop-up book store that will only stock books written by women. To mark International Women’s Day on March 8, Waterstones will launch the pop-up in partnership with publishing giant penguin. READ MORE: Waterstones enters exclusive takeover talks with Elliot Investors Dubbed the “Like A Woman” store, it will open in Shoreditch’s Rivington Street between March 5 and 9 and arrange books in categories based on the impact the author had on society
The appeals system for business rates has come under fresh scrutiny following the release of government data reporting a drop in the number of property owners challenging the tax. Figures published by the Valuation Office Agency (VOA) this week revealed that since the new “check, challenge and appeal” system was launched in April, an average of 940 appeals a month were made.
Jim Cramer sat down with PVH Chairman and CEO Manny Chirico to get his take on the international retail space.
The parent company of TK Maxx has recorded a fall in third quarter profits, primarily due to investment in a new UK distribution centre. In the three months to October 28 reveal an 18.5 per cent drop in adjusted profits to $75 million (£56.8 million). TJX International – which operates fashion chain TK Maxx in Europe and Australia, as well as homewares retailer Homesense – attributed the reduction in profits to the opening of a new distribution centre in Knottingley, Wakefield, which opened in August.
Fashion giant VF Corp has reported healthy earnings across its brands for its third quarter, raising its outlook for the full year.
Amazon has expanded its Dash button service with new brands added to the range, just over a year after it was introduced in the UK. UK customers can now choose from 100 different branded buttons across dozens of categories
Asos is expected to reveal how increased global expansion has allowed it to record a spike in full year sales when it releases its annual results on Tuesday. The online giant is expected to post a 35 per cent surge in sales to £1.9 billion, according to a consensus of City analysts. READ MORE: Asos begins same-day delivery In addition, the fashion retailer’s profit is predicted to grow 24 per cent to £79.3 million