Mike Ashley, the Sports Direct entrepreneur, is preparing to step back from his high-profile role as CEO of his growing retail empire. He’ll hand control to his future son-in-law Michael Murray, the Telegraph reported.
Under Armour has posted a 91% revenue jump to $1.4bn for Q2 ended June 30. Considering the performance, the company has raised its FY21 revenue outlook up to a low 20s percentage rise against high teens previously.
Value fashion specialist New Look issued a trading update and its annual results on Tuesday and said it had made a “solid start to FY22 trading following store reopenings after [a] resilient FY21 performance”.
Joules reported its annual results on Tuesday and talked of a “strong performance underpinned by continued digital growth, the strength of the Joules brand, and increasing diversification of revenue streams”.
Columbia Sportswear Company, a specialist in active outdoor lifestyle apparel and footwear, has exceeded its expectations with 79% sales growth to $566.4m in Q2 of FY21 compared to same period of 2020.
Private equity firm Clayton, Dubilier & Rice (CD&R) is poised to start a bidding war for British supermarket chain Morrisons, the target of a £6.3 billion ($8.8 billion) offer from a group led by another U.S. firm.
The Italian group achieved revenue of 155 million euros in the first six months of 2021, up 30% year over year, but down 10% compared to 2019, while net earnings tripled in the two years, totaling 17.4 million euros.
Boohoo has moved quickly to protect its reputation, cutting its links with rapper DaBaby after what was seen as a homophobic rant during a live show at the weekend saw him coming in for heavy criticism.