THG to be demoted from FTSE 250 as Wickes enters index
Online retail specialist THG is to be pushed out of the FTSE 250 in the latest reshuffle of London's top stock indexes.
Meanwhile, home improvement chain Wickes will be among the beneficiaries as it climbs into the index.
FTSE Russell, the global index provider run by the London Stock Exchange Group, updates the firms listed on its FTSE 100 and FTSE 250 indexes every three months.
On Wednesday, it confirmed which of the UK's largest firms are valued highly enough to join each index based on their share value at the close of trading on Tuesday June 3.
It announced that the FTSE 100 – the index of the London Stock Exchange's highest value stocks – remained unchanged in the new update.
However, the FTSE 250 – the index of the 250 next most valuable companies – will see a raft of changes.
It said Manchester-based online retail business THG – which was previously called The Hut Group – will be among those demoted from the FTSE 250 index.
The company has seen its shares continue a steady decline in recent months, amid continued challenges in its nutrition business, which includes the MyProtein brand.
The business, founded by Matthew Moulding, saw revenues drop by 5% last year after this weakness offset growth in its beauty operations.
THG is now valued at around £353 million, having been worth as much as £5.4 billion when it floated on the London Stock Exchange in 2021.
Elsewhere, National Express parent firm Mobico will also drop from the index after a recent fall in revenues as it undergoes a significant turnaround plan.
Bellevue Healthcare Trust, a healthcare investment firm, and mining giant Ferrexpo have also dropped from the index.
Meanwhile, home improvement chain Wickes is among those that will jump into the index.
Wickes shares have risen by more than 50% since the start of the year after reporting resilient customer demand despite pressure on big ticket spending.
It will be joined in the index by Avon Technologies, Gamma Communications and Ashoka India Equity Investment Trust.
The changes will take effect from the start of trading on Monday June 23.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
9 minutes ago
- The Sun
Sainsbury's is testing a huge change to shelf labels – and shoppers will be divided
SAINSBURY'S is the latest supermarket to test a major change to shelf labels in stores - but it will leave shoppers divided. One of the UK's biggest supermarkets is trialling electronic shelf labels in a small number of branches. 1 The retailer installed the tech at three of its larger shops late last year and has been trying it out across different sections including alcohol, health and general merchandise. Sainsbury's has partnered with Harrison Retail to build the shelf fixings featuring the labels. A branch in Witney, Oxfordshire, is understood to be one of the three locations where the tech is being trialled. A spokesperson for Sainsbury's said: "We are trialling electronic shelf-edge labels in a small number of our stores." Sainsbury's shoppers are bound to be left divided over the new electronic tags though. Fears have been raised digital labels could lead to "surge pricing", which sees prices hiked when products are more in demand. The labels can make it harder for shoppers to spot cut-price items too, as they're not as visible as the paper yellow, orange or red stickers. Sainsbury's joins a host of other supermarkets trialling electronic shelf labels in stores. Co-op is replacing paper product tags with electronic labels throughout its whole estate over the coming months. The retailer said last month it had already made the change in 340 branches but would roll out the tags more widely. SAVE AT SAINSBURY'S It said 1,500 stores will have the labels by the end of this year and rolled out across all its nearly 2,400 shops by the end of 2026. Lidl also said it would roll out the digital labels across all its stores before the end of 2024. This came after a successful trial at 35 branches. Asda is testing the digital labels at a Manchester shop. WHAT ARE ELECTRONIC PRICE LABELS Electronic pricing labels are not easy to spot and look almost identical to the traditional paper labels which have existed in stores for centuries. They feature everything a shopper would expect to see on a label such as cost, weight and unit price. The only difference is that the information is displayed on screens instead of a paper label. Usually, they are connected to a wireless network that allows for prices to be updated in real-time - instead of it being done manually by a store clerk. Supermarkets say the technology will help cut down on waste and help with efficiency in stores. OTHER SAINSBURY'S NEWS Sainsbury's exclusively revealed to The Sun last month it had closed all remaining patisserie, hot food and pizza counters. It is not clear when the pizza counters shut while is understood the patisserie and hot food counters closed in April. The closures come as part of a wide-ranging update of Sainsbury's' store estate which also saw 61 in-store cafes shut on April 11. The cafe spaces are being replaced with restaurants run by franchises such as Starbucks and Gourmet Burger Kitchen. The supermarket said its hybrid cafe and food halls were becoming popular among shoppers. Sainsbury's first announced the store overhaul in January, as it revealed 3,000 head office staff would also lose their jobs in a senior team shake-up. At the time, chief executive Simon Roberts said the changes would "ensure we continue to drive forward our momentum". .
Daily Mirror
14 minutes ago
- Daily Mirror
'Perfect' mini brownie box slashed to under £5 for Father's Day
This might just be the perfect affordable gift for the foodie dad with a sweet tooth There are 10 days left until Father's Day, and those still on the hunt for the perfect gift have enough time to find something Dad will love. If he has a sweet tooth, something delicious to tuck into on the special occasion might be a winner, and Cutter & Squidge is well worth checking out to put a smile on his face. The Mixed Mini Brownie Box is a popular pick; it comes with a Father's Day packaging sleeve and contains an assortment of rich, gooey mini brownies in a selection of flavours for £21.99. The London-based bakery is known for its letterbox-friendly boxes of handmade brownies, cakes, and biscuits, each wrapped in occasion-specific packaging. Thanks to a limited deal with TopCashback, shoppers will be able to save big for this special occasion. New customers to TopCashback and Cutter & Squidge will receive a £15 new member bonus plus additional cashback, meaning the Mixed Mini Brownie Box will cost £4.79 after cashback. For an existing Cutter & Squidge customer but new to TopCashback, the brownie box will be £5.52 after cashback. Delivery of the sweet treat is letterbox-friendly, but next-day service comes at an extra charge. For the foodie dad who enjoys the finer things, the Luxury Wine, Cheese, and Rillette Hamper (£70) from is a standout choice. It's packed with artisan cheeses, crackers, a bottle of wine and more to enjoy. Alternatively, Bloom & Wild also offer a number of sweet treats available to send to a special someone by post. The Mixed Mini Brownie Box has become a go-to gift for all sorts of occasions, from 'get well soon' pick-me-ups to congratulatory treats for exam results or even a quirky way to ask someone to be a bridesmaid; the contents stay the same, with only the sleeve swapping out to suit the occasion. The Birthday Box (£19.99) is the most widely reviewed on Cutter & Squidge's site, earning an impressive 4.8 out of 5 stars from 164 reviews. In reviews for the Mixed Mini Brownie Box, one shopper shared: "The Mixed Brownie Box is a perfect selection of deliciousness and comes in lovely packaging that matches each occasion." Another happy customer wrote: "I received these brownies as a birthday gift and they were so delicious that I ordered a box of 12 to be sent to a relative for her birthday. They are highly recommended - a great gift to send and receive." However, while most reviews are glowing, a handful of customers have noted that the portions are on the smaller side, though that's not unusual for a mixed selection designed to fit through the letterbox. Another customer noted: "Fantastic selection of the most delicious brownies!" How to get Father's Day Brownie Box for less than £6 To claim the new member bonus, new members of TopCashback need to sign up via this link Search for Cutter & Squidge and click 'Get Cashback Now' Shop and check out as usual Cashback will track and appear in your TopCashback account
Telegraph
24 minutes ago
- Telegraph
National Lottery to suffer 36-hour outage in rush to deliver botched tech update
The National Lottery will be plunged into a 36-hour blackout this summer as its new owner rushes to deliver a botched tech upgrade. Allwyn, which is controlled by Czech billionaire Karel Komarek, has warned retailers their National Lottery terminals will stop working for around 36 hours while systems are updated. In a statement to shop owners this week, Andria Vidler, the chief executive of Allwyn UK, said: 'Technical switchover will happen over one weekend this summer, and to enable the new systems to go live, National Lottery terminals will be inactive for approximately 36 hours.' Ms Vidler did not provide a date for the shutdown, but asked retailers for their 'help and diligence to ensure a seamless transition'. It is understood that the upgrade will begin at about 11pm on a Saturday night to reduce disruption and loss of earnings. The National Lottery does not trade overnight and no draw-based games take place on a Sunday. Allwyn has pledged to overhaul the National Lottery's estate of 43,500 terminals at a cost of £350m. The update is critical to the company's promise to double the lottery's contribution to good causes. However, the IT upgrade has been plagued by difficulties and delays. Bosses are now racing to launch the new system amid pressure from the Gambling Commission. The complex update was supposed to be in place when Allwyn took over the running of the National Lottery from Camelot in February last year. However, this was delayed after the existing provider, International Games Technology (IGT), challenged the move in the High Court. The rollout has also been delayed by a separate legal challenge mounted by Richard Desmond, who is suing the Gambling Commission after missing out on the 10-year licence. He has argued the bidding process was unfair and is seeking £200m in damages. The delays have fuelled concerns that Allwyn will fall short of its ambitious pledge to funnel more money to good causes. The operator originally promised to increase its charitable donations from £17.9bn to £38bn over the course of the licence – equivalent to about £3.8bn a year. But it has now watered down these targets by pledging to double returns by the end of its licence, from £30m to £60m a week – or less than £3.2bn a year. The Telegraph revealed earlier this year that the National Lottery is already facing a £2bn shortfall toward its charitable donation target in its maiden year. This summer's outage, first reported by Better Retailing magazine, is also likely to spark concerns among shopkeepers who make commission by selling lottery tickets. Andrew Goodacre, the chief executive of the British Independent Retailers Association, said: 'My opinion is that anything that disrupts the normal running of a shop is not welcome. 'We also have to hope that the proposed works go to plan and that any switch is restricted to 36 hours – I fear this may overrun. I would also like to think that the retailers would receive some form of compensation for lost business or inconvenience.' A spokesman for Allwyn said: 'Allwyn is investing over £350m into improving the operations and technology of The National Lottery. 'This change is critical – it will give us the springboard from which we can continue to improve the player and retailer experience and enable us to deliver on our ambitious plans to double returns to good causes from £30m to £60m a week by the end of the licence.'
