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Retail
Frasers Group Granted Approval for Controversial 3.3 Million Sq Ft HQ Despite Local Opposition
December 16, 2024 03:36 PM GMT| By Team Kalkine MediaHighlights:,Massive Development Approved:,Frasers Group secures planning permission for a 3.3 million sq ft headquarters near Rugby, including warehouses, offices, and leisure facilities.,Green Belt Controversy:,The project faced opposition for causi...
Portmeirion Faces Challenging Year Amid Weak Sales and Supply Chain Disruptions
December 13, 2024 10:48 AM GMT| By Team Kalkine MediaHighlights:,Annual revenues are projected at £90 million, impacted by supply chain issues and reduced demand in key markets.,Sales in the US and South Korea fell by 6% and 13%, respectively, affecting overall performance.,Cost reduction measures and...
Boohoo Rejects Mike Ashley’s Board Nomination Amid Intensifying Tensions with Frasers Group
December 13, 2024 10:48 AM GMT| By Team Kalkine MediaHighlights:,Boohoo firmly opposes Mike Ashley joining its board:,The retailer stated it would not accept his appointment “under any circumstances.”,Frasers Group accused of conflicts of interest:,Boohoo cited "irreconcilable conflicts" linked to Ashl...
De La Rue Shows Resilience with Record Currency Orders Despite Profit Decline
December 12, 2024 11:38 AM GMT| By Team Kalkine MediaHighlights:,Adjusted operating profit dipped slightly to £7.3 million in the first half of 2024, down from £7.9 million.,Currency order book surged to a five-year high, reaching £338 million, driven by significant polymer orders.,Full-year profit gui...
Proxy Advisers Oppose Mike Ashley’s Proposed Appointment to Boohoo Board
December 12, 2024 11:38 AM GMT| By Team Kalkine MediaHighlights:,Glass Lewis and ISS recommend rejecting Frasers Group's proposal for Mike Ashley to join Boohoo's board.,Concerns raised over potential conflicts of interest and lack of governance commitments from Frasers.,Boohoo’s board and chairman emp...
Currys Warns of Price Increases Amid Rising Operational Costs
December 12, 2024 11:38 AM GMT| By Team Kalkine MediaHighlights:,Costs to rise by £32 million annually due to Budget measures including higher national insurance and minimum wages.,Currys plans cost-saving strategies but warns some price increases are unavoidable.,First-half revenue grows 1% with £9 mi...
Diageo Set for 2025 Turnaround with Tequila and Whisky Driving Growth
December 12, 2024 11:26 AM GMT| By Team Kalkine MediaHighlights:,UBS upgrades Diageo to 'buy' with growth prospects in Tequila and whisky brands leading the charge.,US spirits sector expected to rebound to 3% annual growth, with Diageo outpacing industry trends.,Price target raised to £29.20 as earning...
Marks & Spencer Experiences Festive Sales Surge in Grocery Sector
December 11, 2024 11:26 AM GMT| By Team Kalkine MediaHighlights:,Marks & Spencer grocery sales increased by 10.6% year-on-year in the lead-up to Christmas, as reported by NIQ.,Kantar highlighted that nearly one-third of UK households shopped for groceries at M&S during the three months to November.,Ant...
SSP Group to Launch Travel Food Services IPO in Strategic Push into Indian Market
December 11, 2024 11:26 AM GMT| By Team Kalkine MediaHighlights:,SSP Group plans an IPO for its Indian joint venture, Travel Food Services (TFS), targeted for spring 2025.,SSP to increase its stake in TFS to 50.01% ahead of the IPO, strengthening its control over the venture.,The IPO aligns with SSP’s...
Inditex Reports Strong Profit Growth and Launches Logistics Expansion Plan
December 11, 2024 09:23 AM GMT| By Team Kalkine MediaHighlights:,Inditex's pre-tax profit rose 9.9% to €5.8 billion during the first nine months of the year.,Sales increased by 7.1%, with strong performance across all concepts and channels.,A €1.8 billion two-year logistics expansion plan was announced...
British American Tobacco Targets Growth with New Category Products and Smokeless Vision
December 11, 2024 09:23 AM GMT| By Team Kalkine MediaHighlights:,Revenue and adjusted profit align with low-single-digit organic growth guidance.,Profitability in non-tobacco products, such as vapes and nicotine pouches, continues to improve.,The company reaffirms commitment to transitioning into a “sm...
Boohoo Urges Shareholders to Reject Frasers Group Board Bid Amid Leadership Dispute
December 09, 2024 10:47 AM GMT| By Team Kalkine MediaHighlights,Boohoo opposes Frasers Group’s attempt to secure board seats, citing conflicts of interest.,Proxy advisor ISS recommends shareholders reject resolutions to appoint Mike Ashley and Mike Lennon.,Boohoo remains focused on strengthening its le...
Inspecs Group Shares Drop Amid Slower Sales Growth and Deferred Orders
December 09, 2024 10:27 AM GMT| By Team Kalkine MediaHighlights,Inspecs Group shares fell 18% after weaker-than-expected fourth-quarter sales growth.,Annual revenue forecast lowered to £197 million, with EBITDA below initial expectations.,New manufacturing facility in Vietnam positioned as a key growth...
Inditex Poised for Possible Guidance Upgrade Ahead of Q3 Results
December 06, 2024 11:23 AM GMT| By Team Kalkine MediaHighlights,Inditex’s third-quarter results on 11 December could bring an upgrade to its full-year outlook.,UBS forecasts 11.5% sales growth in Q3, with earnings expected to exceed consensus at €2.31 billion.,Shares have risen 42% this year, driven by...
Marks & Spencer’s Marble Arch Redevelopment Gets Government Approval
December 06, 2024 11:06 AM GMT| By Team Kalkine MediaHighlights,Government overturns block on Marks & Spencer’s flagship Marble Arch redevelopment plans.,Project to rejuvenate Oxford Street with a new flagship store, office space, and 2,000 jobs.,Sustainability and urban regeneration at the heart of th...
Inditex Poised for Possible Guidance Upgrade Ahead of Q3 Results
December 06, 2024 11:06 AM GMT| By Team Kalkine MediaHighlights,Inditex’s third-quarter results on 11 December could bring an upgrade to its full-year outlook.,UBS forecasts 11.5% sales growth in Q3, with earnings expected to exceed consensus at €2.31 billion.,Shares have risen 42% this year, driven by...
Watches of Switzerland Gains Investors' Limelight Today. Here's Why.
December 05, 2024 08:39 AM GMT| By Team Kalkine MediaHighlights,Group revenue for H1 FY25 increased by 4% at constant currency, with luxury jewellery driving significant growth.,US performance showed strong recovery, while UK & Europe experienced stabilization in the luxury sector.,The Group remains co...
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Frasers Group Advances Elevation Strategy in H1 FY25 H1 Despite Challenging Trading Conditions
December 05, 2024 08:24 AM GMT| By Team Kalkine MediaHighlights,Adjusted Profit Before Tax (APBT):,Decreased by 1.5% to £299.2 million, reflecting dual running costs and a decline in non-core revenue streams.,Revenue Impact:,Retail revenue dropped by 8.4%, driven by challenges in the luxury market and...
OECD Warns of Slower Rate Cuts Amid Inflation Concerns and Revised Economic Outlooks
December 04, 2024 02:48 PM GMT| By Team Kalkine MediaHighlights,OECD predicts global interest rates, including the UK, will decline more gradually than anticipated.,UK’s 2024 GDP growth forecast reduced to 0.9%, with a boost to 1.7% for 2025.,US growth forecasts raised to 2.4% for 2024, driven by stron...
On the Beach Group Reports Record TTV in FY24 and Sets Ambitious Growth Targets
December 03, 2024 10:41 AM GMT| By Team Kalkine MediaHighlights:,Record Performance:,Total Transaction Value (TTV) grew 15% to £1.2 billion, with revenue up 14% to £128.2 million, driven by strong market demand and operational efficiency.,Shareholder Returns:,Announced a £25 million share buyback progr...
