Latest news with #PhilEllis
Yahoo
22-04-2025
- Automotive
- Yahoo
New bikes and docking points for e-bike scheme
More than 250 new e-bikes and 10 extra docking stations are to be added to the Leeds City Bikes scheme. First launched in September 2023, the "Beryl Bikes" rental scheme has been used by 22,000 riders to make more than 120,000 journeys across the city. From Tuesday, new docking stations will be available in places including Roundhay and Oakwood, while 265 lightweight bikes will added to the fleet. Phil Ellis, chief executive at Beryl, said the firm was "thrilled" to be expanding the scheme across the city. A Leeds City Council spokesperson said the new "BBE2" bikes were "lighter and easier to lock and unlock" and came with an increased range of up to 50 miles (80km). Jonathan Pryor, the council's deputy leader and executive member for economy, transport and sustainable development, said he hoped the new e-bikes would "provide commuters and leisure travellers more options to choose sustainable and active travel for their journeys". "I live in the north of Leeds and I'm excited for the expansion further to the north where the scheme has been welcomed as a convenient and accessible travel option for many," he said. "The more riders we create, the more we can reduce congestion, improve air quality, and support the city's ambition to be carbon neutral by 2030." A number of docking stations have been suspended since the scheme launched, however, as a result of vandalism. The council said it was hoping to reopen ten of the damaged docking stations but said a final decision had not yet been taken as to whether the other suspended stations would reopen. Listen to highlights from West Yorkshire on BBC Sounds, catch up with the latest episode of Look North. E-bike scheme used over 70,000 times in first year Vandals and thieves target e-bike hire scheme E-bike rental scheme launches in city Beryl Bikes
Asharq Al-Awsat
28-03-2025
- Business
- Asharq Al-Awsat
Boohoo Pushes Ahead with Debenhams Rebrand despite Frasers' Opposition
British online fashion retailer Boohoo said on Friday it would rebrand as Debenhams Group even though opposition from top shareholder Frasers meant the name change for its holding company did not get shareholder approval. At a general meeting, 62.04% of votes cast supported the official name change, falling short of the required 66% of votes, the company said. "This general meeting was only related to the technical name change of the ultimate holding company," the company told Reuters in an email. "While this will now remain the same, the company is absolutely moving forward as Debenhams Group." Boohoo had announced its rebranding earlier this month. Frasers, which owns just over 29% of Boohoo shares based on LSEG data, voted against the resolution. Frasers, majority-owned by British retail tycoon Mike Ashley, in January unsuccessfully tried to oust Boohoo's co-founder from the board, and the companies have been involved in a long-running corporate tussle. Boohoo, boosted by an online shopping surge during the coronavirus pandemic, has been facing supply chain issues, weak demand and stiff competition from e-commerce firms such as Shein and Temu. The company has said it sees the Debenhams brand having the potential to achieve multi-billion pound gross merchandise value in the medium term. In March, Boohoo appointed Phil Ellis, Debenhams' finance director, as its CFO, following the appointment of Dan Finley as the group's CEO late last year.
Reuters
28-03-2025
- Business
- Reuters
Boohoo pushes ahead with Debenhams rebrand despite Frasers' opposition
March 28 (Reuters) - British online fashion retailer Boohoo (BOOH.L), opens new tab said on Friday it would rebrand as Debenhams Group even though opposition from top shareholder Frasers (FRAS.L), opens new tab meant the name change for its holding company did not get shareholder approval. At a general meeting, 62.04% of votes cast supported the official name change, falling short of the required 66% of votes, the company said. "This general meeting was only related to the technical name change of the ultimate holding company," the company told Reuters in an email. "While this will now remain the same, the company is absolutely moving forward as Debenhams Group." Boohoo had announced its rebranding earlier this month. Frasers, which owns just over 29% of Boohoo shares based on LSEG data, voted against the resolution. Frasers, majority-owned by British retail tycoon Mike Ashley, in January unsuccessfully tried to oust Boohoo's co-founder from the board, and the companies have been involved in a long-running corporate tussle. Boohoo, boosted by an online shopping surge during the coronavirus pandemic, has been facing supply chain issues, weak demand and stiff competition from e-commerce firms such as Shein and Temu. The company has said it sees the Debenhams brand having the potential to achieve multi-billion pound gross merchandise value in the medium term. In March, Boohoo appointed Phil Ellis, Debenhams' finance director, as its CFO, following the appointment of Dan Finley as the group's CEO late last year. Reporting by Raechel Thankam Job in Bengaluru; Editing by Krishna Chandra Eluri and Jane Merriman
Yahoo
28-03-2025
- Business
- Yahoo
Here's the boohoo share price forecast for the next 12 months as the Debenhams rebrand begins
Over the past year, the boohoo (LSE:BOO) share price has fallen by 26%. The bulk of this move has come in the past three months, with a strategy overhaul under way to try and turn the company around. With the recent changes, including rebranding the group to Debenhams, analysts at top institutions have been revising their share price targets for the firm. Here's what it means for investors. At the moment, the boohoo share price is at 26.5p. Of the 11 analysts with a current projection, six have a Sell rating, four suggest it's a Hold and only one has a Buy rating. In terms of specific numbers, the average target price based is 26.56p. The team at Barclays has the lowest view at 21p, with Singer Capital Markets the highest at 36p. As a disclaimer, these forecasts are subjective and simply the view of the research analysts who put them out. It doesn't mean that the stock will hit that particular price. The average price forecast is basically the same as the current price. This is interesting as it suggests the worst of the drop is now over. However, the fact that there's a range of views highlights that there could be volatility throughout the next year. One reason why the stock might steady and stop falling is due to the raft of changes being brought in. For example, earlier this month boohoo announced its rebranding to Debenhams Group. This move reflects a strategic shift to leverage the established Debenhams brand, (which boohoo bought in 2021) and to adopt a marketplace model similar to Debenhams' increasingly successful operations. This could be a smart play because the rebranding means a broader variety of brands' products will be sold, alongside boohoo's existing offerings. Plus it move sit away from competing quite so directly with Shein. Alongside the strategic overhaul, boohoo appointed Phil Ellis this month as the new Group Finance Director, replacing Stephen Morana. Ellis had been involved in the turnaround of the Debenhams business, indicating a leadership focus on replicating that success with boohoo. Finally, the company is implementing cost-cutting initiatives, including the closure of a warehouse in the US and a reduction of hundreds of jobs at the Manchester office. If investors can be content that lower costs and stable revenue projections can last this year, then it should help to get the business back to making a profit. A risk to the view is that financial performance this year is worse than currently expected. Even though the forecast is for a loss, if updates reveal that it's likely to be larger than previously thought, the stock could fall as investors recalibrate their view of the company. Based on the view from the experts, I'm not in any rush to buy the stock. However, if it continued to fall, I'd consider it as an undervalued purchase. The post Here's the boohoo share price forecast for the next 12 months as the Debenhams rebrand begins appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Jon Smith has no position in any of the shares mentioned. The Motley Fool UK has recommended Barclays Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio
Asharq Al-Awsat
11-03-2025
- Business
- Asharq Al-Awsat
UK's Boohoo Rebrands as Debenhams Group, Appoints New CFO
British online fashion retailer Boohoo said on Tuesday that it was rebranding itself as Debenhams Group and also named Phil Ellis as its new finance boss. Last October, Boohoo announced the departure of then-CEO John Lyttle, and appointed Dan Finley to replace him, and also unveiled a strategic review. Since then, the company has been embroiled in a board tussle with its biggest shareholder, Frasers Group. Frasers Group, owned by British retail tycoon Mike Ashley, attempted in January to remove Boohoo's co-founder Mahmud Kamani from the board, but shareholders voted against the move, Reuters reported. The two businessmen, Ashley and Kamani, have been rivals in the past, notably when Frasers failed to rescue department store chain Debenhams, in which Ashley previously held a stake. In 2021, Boohoo acquired the name and website operations of department store chain Debenhams from its administrators. Ellis, the current finance director of Debenhams and managing director of DebenhamsPay+, will become group CFO and a member of the board, replacing Stephen Morana with immediate effect, Booohoo said on Tuesday.
