Online beauty and wellbeing retailer The Hut Group (THG) has confirmed plans to float on the London Stock Exchange with a target valuation of 4.5 billion pounds. The IPO aims to raise around 920 million pounds by issuing new shares. The company intends to have a free float of at least 20 percent of […]

The CVA proposal launched by New Look this week which aims to switch the majority of its store estate over to turnaround-based rent does not meet best practices standards, The British Property Federation (BPF) has warned. Under New Look’s CVA proposal, outlined on Wednesday, 402 of its stores would […]

British footwear retailer Shoe Zone has announced that its CEO Anthony Smith and chairman Charles Smith have both increased their stakes in the company following the resignation of non-executive director Jeremy Sharman. The Sharman Family Pension fund, of which Sharman is a beneficiary, has sold its […]

Target Corporation’s board of directors elected Christine (Chris) A. Leahy, president, chief executive officer and director of CDW, and Derica W. Rice, former executive vice president of CVS Health and president of CVS Caremark, as directors. The company said in a statement that Leahy’s appointment […]

Dick’s Sporting Goods reported consolidated net income for the second quarter ended August 1, 2020 of 276.8 million dollars or 3.12 dollars per diluted share compared to 112.5 million dollars or 1.26 dollars per diluted share in the same quarter last year. On a non-GAAP basis, the company reported consolidated […]

Chico’s FAS, Inc., for the thirteen weeks reported a net loss of 46.8 million dollars or 40 cents loss per diluted share compared to net loss of 2.3 million or 2 cents loss per diluted share for the same quarter last year. Net sales were 306.2 million dollars, an improvement of 9.2 percent from the […]

For its second quarter, Express Inc., reported consolidated net sales decrease of 48 percent to 245.7 million dollars, with consolidated comparable sales down 24 percent. The company said in a statement that comparable retail sales, which includes both Express stores and e-commerce, decreased 28 percent […]

Mike Ashley’s Frasers Group has announced it will immediately put its subsidiary Bob’s Stores under strategic review after Nike cut ties with the US retail chain. The company, which acquired Bob’s Stores in 2017, said in a statement Tuesday: “Following recent press reports, Frasers Group confirms that […]

British retailer New Look has launched its CVA proposal which looks to reset the majority of its UK stores to a turnover rent model. Under the proposed CVA, 402 leases would be set at a turnover percentage of up to 12 percent while the remaining 68 stores would move to nil rent. In return, landlords […]

J.Crew Group, Inc. has announced it expects to exit Chapter 11 bankruptcy early next month after winning approval for its restructuring plan by the US Bankruptcy Court for the Eastern District of Virginia. The plan will equitize over 1.6 billion dollars of secured indebtedness, and provide a 400 million […]

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