FTSE LIVE: Retail stocks tumble as Asos warns on profits; Laura Ashley to shut 40 stores; SSE and Npower shelve merger; Investor digs claws into Just Eat
- Online firm Asos issued a profit warning after sales deteriorated in November
- Laura Ashley said it plans to reduce the number of its UK stores from 160 to 140
- SSE and Npower have called off their merger, blaming ‘challenging conditions’
- Just Eat dubbed the worst-performing online food firm in the world by investor
In more bad news for the retail industry, online fashion giant Asos has warned over sales and profits after experiencing a ‘significant deterioration’ in trading in the vital run-up to Christmas.
Energy giants SSE and Npower have called off their merger, blaming ‘challenging market conditions’ and the Government’s price cap.
Just Eat has been described by one of its shareholders as the worst-performing online food firm in the world as it called for a radical shake-up.
Online fashion giant Asos has warned over sales and profits after poor trading in November