|Bid||0.000 x 1210000|
|Ask||0.000 x 1210000|
|Day's range||0.326 - 0.326|
|52-week range||0.309 - 0.659|
|PE ratio (TTM)||5.93|
|Forward dividend & yield||0.04 (6.03%)|
|1y target est||N/A|
Sky News has learnt that the South African-owned chain is drawing up proposals for a Company Voluntary Arrangement (CVA), a process often used by struggling retailers to restructure financial obligations to creditors. Sources said on Thursday night that New Look's CVA plan was not yet finalised and was only one of a number of options under consideration. If it does go ahead with the store closures, roughly one-tenth of New Look's nearly-600 outlets in Britain would be axed, with sizeable rent reductions sought at many of the remaining shops.
Tesco has enjoyed its best Christmas since 2010, a detail packed with symbolism, as that was its last under Sir Terry Leahy, the chief executive who turned the company into the world's second-largest retailer and whose departure heralded several years of turmoil. Tesco's UK like-for-like sales - the measure the City takes most seriously because it takes no account of store openings or refurbishments and is the best indicator of underlying sales performance - were up by 1.9% during the six weeks to January 6.
Preliminary talks on forming a new "grand coalition" to govern Germany are getting closer to the wire with today's deadline for Angela Merkel's conservatives and the opposition SPD to decide whether to enter formal negotiations. It's still possible the two parties might delay a final decision, as in practice they have up until Jan. 21, when the SPD will put any proposals to its grass roots, to find agreement.
Progressive Web Apps solve mobile challenges like low conversions and high bounce rates by delivering a fast shopping experience to all website visitors. VANCOUVER, British Columbia, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Retailers offering faster, more app-like experiences to mobile web shoppers via Progressive Web Apps (PWAs) are reporting immediate increases in mobile revenue and mobile traffic. Such sites are increasingly mission-critical to ecommerce leaders and IT organizations in the retail sector as mobile emerges as the main driver of continued growth in ecommerce.
Theo Paphitis has blamed the Government for allowing the UK's beleaguered retail sector to slide "closer and closer towards the precipice". The former Dragons' Den star, and entrepreneur behind high street chains Ryman, Robert Dyas and Boux Avenue, blamed changes to business law as well as the disparity in taxes facing online platforms and bricks-and-mortar retailers. Mr Paphitis made the comments as a slew of trading updates have started to reveal just how challenging Christmas has been for UK stores amid a squeeze on household spending.
Jaeger, Agent Provocateur, and Jones the Bootmaker among the chains that went bust last year. Rising inflation, pension funding, and the National Living Wage are all putting pressure on retailers. LONDON — The number of shops going bust increased last year for the first time in five years, new data shows.
New Look, House of Fraser and Debenhams (Frankfurt: D2T.F - news) bonds hit lows on Monday because of financial stress, but the year's first high-yield deal for online property platform Zoopla will test how far concerns around UK consumer names has spread to the market. ZPG, which operates Zoopla, is out with a £200m 5.5-year non-call two senior unsecured note via HSBC and Lloyds and will market the offering in a roadshow running from Tuesday to Thursday. Zoopla's deal was announced against the backdrop of a sell-off in UK high-yield retailers, with New Look's bonds plummeting by up to six points from Friday's close after reports over the weekend that credit insurers have halted the sale of credit insurance on new shipments to its suppliers, while House of Fraser's £175m 2020 FRN lost over nine points on the back of news that it is renegotiating its rents.
House of Fraser (HoF), one of the UK's biggest department store chains, is seeking to slash its rent bill, stoking fears of further casualties on an increasingly embattled high street. Sky News has learnt that HoF has contacted an undisclosed number of the owners of its 59 UK outlets to ask for substantial rent reductions. The chain, which is privately owned by Sanpower, a Chinese conglomerate, is understood to have made the "informal" request in recent weeks, although it was unclear on Friday whether it had been communicated to landlords before or after its Boxing Day sale got underway.
U.K. stocks end at a record closing high on Thursday, with energy companies among the biggest gainers as oil prices continue their rally to trade around a three-year high.
Debenhams (Frankfurt: D2T.F - news) has issued a profit warning and refused to rule out job losses after a weak festive season - its shares falling 24% in response. In a trading statement that was brought forward from next week, the retailer said it had been forced to slash prices to boost flagging sales - describing business as "highly competitive and volatile". The department store chain said like-for-like sales in the 17 weeks to 30 December in its core UK market fell 2.6% overall.
By Kit Rees and Julien Ponthus LONDON (Reuters) - A rise in oil majors helped pushed the UK's top share index to an all-time high on Thursday but below the level enjoyed by its European peers, as retailers ...
A rise in oil majors helped pushed the UK's top share index to an all-time high on Thursday but below the level enjoyed by its European peers, as retailers hurt after a Debenhams profit warning and house ...
Following mixed trading updates from Debenhams and Next, Royston Wild considers the investment outlook for both businesses.
It always looked premature to assume, as some commentators did, that the festive season on the high street was all right simply because Next (Frankfurt: 779551 - news) 's Christmas trading was not as bad as feared. Rumours have been swirling in the City for weeks that Debenhams (Frankfurt: D2T.F - news) is struggling - "the share price at 32p tells you something's wrong", one rival retailer told me just before Christmas - and sure enough, the UK's second-biggest department store chain has issued a profits warning . Debenhams is now guiding the market to expect profits during the current financial year of between £55m-65m.
Department store group Debenhams (DEB.L) slashed its annual profit forecast on Thursday after it was forced to cut prices to drive sales of Christmas gifts, illustrating the challenges facing some of Britain's best known retailers. Chief Executive Sergio Bucher said customers had "come late to Christmas", and when they did start shopping its gifts were not special enough to encourage them to buy without discounts. Debenhams is second ranked in department stores by sales value to John Lewis, which said on Wednesday its sales in the week before Christmas rose 8.9 percent.
Department store group Debenhams slashed its annual profit forecast on Thursday after it was forced to cut prices to drive sales of Christmas gifts, illustrating the challenges facing some of Britain's best known retailers. Chief Executive Sergio Bucher said customers had "come late to Christmas", and when they did start shopping its gifts were not special enough to encourage them to buy without discounts. Debenhams (Frankfurt: D2T.F - news) is second ranked in department stores by sales value to John Lewis, which said on Wednesday its sales in the week before Christmas rose 8.9 percent.
A rally in oil majors pushed the UK's top share index to an all-time high on Thursday, though elsewhere retailers were under pressure after a profit warning from Debenhams. Britain's FTSE 100 index was ...
If anything, last year’s global equity market boom seems to be accelerating in 2018. More records and milestones keep falling around the planet and in historically low volatility. Why? The world economy ...
Debenhams sales fell 1.3% over Christmas and the total value of sales decreased 0.8%. CEO blames "challenging" market and increased discounting at rivals. Department store had to cut prices to keep up and profits this year will suffer as a result.
Debenhams Plc’s disastrous Christmas highlighted a widening chasm in the U.K. retail sector between companies that have managed to migrate online to fend off Amazon.com Inc. and those stuck in their stores....
Debenhams PLC has warned on profit after reporting a disappointing start to its post-Christmas sale. In its Christmas trading update released Thursday, the department store chain said like-for-like sales ...
British retailer Debenhams plc (Frankfurt: D2T.F - news) downgraded its profit forecast on Thursday after disappointing trading in the autumn and a poor start to its post-Christmas sale. It said its profit before tax for the year was now likely to be in the range of 55 million to 65 million pounds ($88 million). Debenhams reported underlying profit before tax of 95 million pounds last year and analysts had been expecting a figure of 83 million pounds in 2018, according to Reuters data.
After a year to forget for British retailers, investors are betting some of the U.K.’s major chains now face a make-or-break holiday shopping season.
Environment Secretary Michael Gove is facing a fresh row over his treatment of independent Whitehall directors after demanding that board members commit several days each week to their non-executive roles. Sky News has learnt that Steve Holliday, the former National Grid (LSE: NG.L - news) chief executive who is one of Britain's leading businessmen, has decided to step down as the lead non-executive director of the Department for Environment, Food and Rural Affairs (DEFRA) after Mr Gove issued his demands.