London stocks gained in early Tuesday as the pound regained some steam after hitting fresh lows. The morning roundup includes news from Card Factory, Boohoo, and JD Sports.
- Card Factory reported its interim results for the six months ended 31 July.
- Card Factory revenue growth was up 4.1%, reflecting the good momentum and shift back to high street sales.
- The group reported an EBITDA of £43.8 million as the business managed inflationary headwinds.
- Shares of Card Factory jumped 5.62%.
- Boohoo has confirmed the start date of its new CFO.
- The appointment of Shaun McCabe as Chief Financial Officer will take on his role on 3 October 2022.
- Shaun will succeed Neil Catto, who will transition to Executive Director.
- JD Sports have responded to the CMA announcement regarding the completion of its investigation into the suspected breaches of competition law.
- JD notes it has fully co-operated with the CMA throughout the investigation. As a result, the CMA has applied a substantial discount in determining its final penalty of £1.49 billion.
- No directors or senior management of JD were involved in the offending conduct, which took place in 2018-2019, stated JD Sports.
- Saga reported its interim results for the six months ended 31 July.
- Saga reported revenue jumped 65% to £258.3 million.
- The firm reported an underlying profit before tax of £14 million for the first half, compared to an underlying loss of £2.8 million in the prior period.
- Saga shares declined 12.97%.