Sports Direct owner comes out fighting July 11, 2008 Mike Ashley, the boisterous billionaire owner of Sports Direct, yesterday pledged to become a “good guy on corporate governance” as the retailer saw its full-year profits halve as consumers tightened their spending. The retailer’s lack of transparency in failing to provide like-for-like sales in its quarterly results has been heavily criticised by City analysts. But [...]
Signet moves share listing to New York July 11, 2008 Jewellery giant Signet Group yesterday announced it would move its primary listing to the New York Stock Exchange, as part of a raft of changes to focus its business on the American market. The jeweller, which owns the H Samuel and Ernest Jones chains in the UK, said it hoped to complete the move – [...]
Rose survives protest vote on double role July 10, 2008 Marks & Spencer boss Sir Stuart Rose has kept his job after a planned shareholder revolt at the retailer’s annual meeting yesterday turned into no more than a whimper. Over 94 per cent of the grey-haired army that braved the rain to descend on the Royal Festival Hall on London’s South Bank yesterday afternoon to [...]
Rose to dodge investors’ ire July 9, 2008 Marks & Spencer boss Sir Stuart Rose is likely to keep both his jobs as chief executive and chairman despite facing fiery opposition from shareholders at the retailer’s annual meeting today. Up to 30 per cent of shareholders are planning to either vote or abstain over concerns about his dual role, though analysts doubted they [...]
How Marks & Spark’s reputation helps to predict its share price July 7, 2008 Does it help M&S to be an iconic brand? It has huge traction in the public mind, which can amplify both its successes and its failures. When it does well, everyone notices – but when it reports disappointing results, and the share price plummets, the story is all over our TV screens. And that doesn’t [...]
Stuart Rose faces huge protest vote July 7, 2008 Up to 30 per cent of Marks & Spencer shareholders angry at Rose’s power grab Marks & Spencer is bracing itself for up to a third of its investors to abstain or vote against Sir Stuart Rose’s controversial plans to hold both chairman and chief executive positions at the retailer’s annual general meeting on Wednesday. [...]
Rose’s future on the line as sales decline July 3, 2008 Marks & Spencer boss Sir Stuart Rose faces the battle of his life next week as he explains to shareholders, already angry about his cavalier approach to corporate governance, the reasons for its rapid sales decline. M&S shares crashed more than 24 per cent as stunned City analysts slashed their forecasts after the retailer said [...]
Six-star hotel in City July 2, 2008 Russian oligarch Vladimir Chernukhin is set to transform a landmark City building into London’s first six-star hotel. Chernukhin, a former Russian Deputy Finance Minister, was yesterday granted planning permission to redevelop the former Midland Bank headquarters – the imposing Grade 1 listed building situated on Poultry behind the Bank of England – into a luxury [...]
Sales slide at Matalan November 2, 2005 Value retailer Matalan yesterday insisted that it was holding market share despite reporting deteriorating trading conditions. Group like-for-like sales tumbled 10.6 per cent in the nine weeks to 29 October. The retailer said clothing like-for-like sales were down 7.6 per cent implying homewares sales had fallen by as much as 20 per cent. Chief executive [...]
Parkdean in talks with Grainger November 1, 2005 Camping and caravan parks operator Parkdean Holidays has confirmed it is in talks which could see it taken over by London-quoted property group Grainger Trust. Parkdean’s shares soared 20 per cent on the news while Grainger warned the discussions may or may not lead to an offer for Britain’s second-biggest operator of holiday sites. Grainger, [...]