Ocado to Leave FTSE 100 After Share Price Collapse

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GENERAL?

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Shopper footfall remains down on last year despite bank holidays and sun -? Total footfall was down 3.6% on a year ago but an improvement on April’s 7.2% drop, according to BRC ( British Retail Consortium )-Sensormatic IQ data.?High street footfall was down 2.7%, while shopping centre visits remained at a subdued 4.5% lower than last May.

ON THE UP?

Boots UK profits surge thanks to booming beauty sales - Pre-tax profits rose more than 42% at the health and beauty retailer to ￡237.6m for the year to 31 August, largely due to higher profit margins, new filings for three UK subsidiaries at Companies House reported.?Sales grew from ￡7.7bn to ￡8.3bn for the period, which it attributed to strong retail revenues from its brands including Soap & Glory USA LLC , Liz Earle Beauty Co. Limited and Fenty Beauty .

IN THE DOLDRUMS

￡1bn profit target looks far away at JD Sports, but sales recover in tight market - JD Sports Fashion bounced back from a January profit warning with sales growth in both Europe and the US. But profits for the year missed the ￡1bn earlier hoped for by some way at ￡917m. That was down on ￡991m a year ago.?Organic sales grew by 9%, with like-for-like growth of 3.8% for the year.?Nevertheless, its UK business was in decline, with an 8.3% slump in revenues to ￡3.51bn as it was particularly affected by the group’s disposals.

Yakult: ‘Hostile geopolitical picture’ hurts healthy drink maker - The UK arm of healthy drink maker Yakult S/A Industria e Comercio said a “weakening economy influenced by inflation and the general hostile geopolitical picture” impacted its finances during 2023.?The company, which is headquartered in South Ruislip, Middlesex, added that its supply chain “continued to be hit by costs on various fronts” and that its market share dropped during the year. Yakult’s UK arm made a turnover of ￡21.4m in 2023 down from ￡22.7m, while its pre-tax profits went from ￡385,072 to ￡379,914.

Dr. Martens plc targets ￡25m savings as profits plummet - The struggling company said global pre-tax profits in the 12 months to March were ￡97m - a fall of almost 43% on the previous year.?Revenue also dipped 12% to ￡877m - down from just over ￡1bn in 2022/23.?The British brand blamed its disappointing performance on the US, its largest market, where it said there had been weak consumer demand and a 17% fall in sales of its boots.

Ocado Retail to leave FTSE 100 after share price collapse -?This is piling pressure on the business to consider ditching London for New York. The online grocery firm will be axed from the index during a quarterly reshuffle after its valuation fell from a ￡22bn high in the pandemic to ￡3.6bn.

The Body Shop eyed up by 马莎百货 and Next in rescue deal - M&S and Next have made early expressions of interest in submitting possible rescue bids for The Body Shop as administrators prepare to launch an auction. Administrators at FRP Advisory revealed last week the vegan beauty chain would be put up for sale the second time within a year if its plans for a company voluntary arrangement (CVA) fell through. Private equity firm Aurelius, which placed The Body Shop into administration within months of acquiring it, is also preparing to table a bid to regain ownership.

ONES TO WATCH

Mike Ashley’s Frasers Group ups stake in HUGO BOSS to over ￡300m?- This brings its total share in the company to ￡305m. The Sports Direct owner said it now controlled 2.47% of the company’s shares, or 16.4% when accounting for shares via the sale of put options.

De La Rue holds talks over potential sale of core divisions - Banknote printer De La Rue is in talks with suitors interested in buying each of its core divisions following a strategic review.?The Basingstoke-based group, which prints banknotes for the Bank of England and other central banks across the world, said it has spoken with “a number of parties who have made proposals” related to either its currency or authentication operations.

Royal Mail owners agree to ￡5bn takeover offer - The board of the company that owns Royal Mail has agreed to a formal takeover offer for the 500-year-old organisation. Czech billionaire Daniel Kretinsky has firmed up an offer of ￡5bn, including assumed debts, for the company which employs more than 150,000 people. The entrepreneur said he had the "utmost respect" for its history and tradition.

Princes: Branston, Batchelors’ and Flora maker sold to Italian giant in ￡700m deal - Food and drink group Princes is to be acquired by an Italian giant in a deal worth ￡700m, it has been confirmed. 三菱商事 , which has owned the Liverpool-headquartered group since 1989, is to sell it to Newlat Food S.p.A.

SHEIN ’s London IPO faces backlash from politicians and fund managers - Shein’s planned London IPO is facing a backlash from both politicians and some of the UK’s biggest fund managers due to concerns over workers’ rights at the retailer. The capital is up against New York for the ￡53bn float of the business, which would see it immediately pushed into the FTSE 100. Senior politicians, including three parliamentary committee chairs, have pressed for more scrutiny of the company, according to reports.

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