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LONDON (AP) — Voters in two districts in England delivered new blows to beleaguered Prime Minister Rishi Sunak, electing opposition-party lawmakers in seats that Sunak’s Conservatives had held for years. Labour Party candidate Damien Egan won the House of Commons seats of Kingswood in southwest England, and Labour's Gen Kitchen took Wellingborough in the country’s center, results announced Friday showed. The Conservatives won both by large margins at the last national election in 2019 but saw support collapse in Thursday's special elections. The hard-right Reform party — formerly known as the Brexit Party — came third, putting more pressure on the Conservatives. The Conservatives pointed to the low turnout — less than 40% of eligible voters cast ballots — as a sign British electors are not enthusiastic about Labour.

Persons: Rishi Sunak, Damien Egan, Kitchen, —, Brexit Party —, Keir Starmer, Chris Skidmore, Peter Bone, Sunak, Liz Truss, Brexit, Boris Johnson, John Curtice, ” “, ” Organizations: —, Labour Party, Wellingborough, Conservatives, Brexit Party, Labour, Conservative, European Union, University of Strathclyde, BBC Locations: England, Kingswood, Wellingborough

☆ Labour opposition deals another historic blow to UK PM Rishi Sunak with by-election defeats
▼ + stars: | 2024-02-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Winning candidate Gen Kitchen said the result was a "stunning victory for the Labour Party and must send a message from Northamptonshire to Downing Street." LONDON — U.K. Prime Minister Rishi Sunak's ruling Conservative Party suffered another double by-election defeat on Thursday, as the opposition Labour Party's momentum shows no sign of slowing. The double defeat of Thursday was the latest in a string of unfavorable by-election results for the ruling party in what were previously considered safe seats. "I was very pleased last night to see that we were clearly getting Tory switchers, in other words people who hadn't voted for the Labour Party before, coming out last night and voting for the Labour Party in a by-election." The Labour Party maintains a lead of more than 20 points over the Conservatives in all national polling, with a general election due no later than January 2025.

Persons: Kitchen, Peter Bone, —, Rishi Sunak's, Helen Harrison, Gen Kitchen, Chris Skidmore, Damien Egan, Keir Starmer, Tory switchers, hadn't, Boris Johnson, Robert Ford Organizations: Labour, Labour Party, Downing, Conservative, Conservatives, LONDON, Conservative Party, Kettering Leisure Village, Tamworth, Liberal Democrats, BBC, University of Manchester, CNBC Locations: Northamptonshire, Wellingborough , Northamptonshire, KETTERING, England, Wellingborough, Kettering, Kettering , England, Kingswood , South Gloucestershire, North, Kingswood, Mid Bedfordshire, West Midlands, Selby, Ainsty, Somerton, Frome

☆ UK Conservative lawmaker Bone faces suspension for misconduct
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

Member of the Parliament Peter Bone arrives at a private reception attended by Boris Johnson, leader of the Britain's Conservative Party, in central London, Britain July 23, 2019. The Independent Expert Panel found that Bone committed "many varied acts" of bullying and one act of sexual misconduct against a staff member in 2012 and 2013. The suspension, if backed by parliament, triggers a recall petition in Bone's constituency of Wellingborough in central England. "As I have maintained throughout the proceedings, none of the misconduct allegations against me ever took place," he said in a statement posted on X, formerly Twitter. The recommendation for Bone's suspension comes after he appealed a previous decision by the Parliamentary Commissioner for Standards that upheld allegations of bullying and sexual misconduct.

Persons: Peter Bone, Boris Johnson, Henry Nicholls, Rishi Sunak's, Bone, Sunak, Farouq Suleiman, Sachin Ravikumar Organizations: Britain's Conservative Party, REUTERS, Sunak's Conservatives, Labour Party, Conservatives, Labour, Thomson Locations: London, Britain, Bone's, Wellingborough, England, Scotland

☆ Kohl's pulls full-year outlook, citing retail volatility and economic headwinds
▼ + stars: | 2022-11-17 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

The Kohl's logo is displayed on the exterior of a Kohl's store on January 24, 2022 in San Rafael, California. Kohl's on Thursday withdrew its full-year outlook, pointing to volatility in the retail environment and significant macroeconomic headwinds, on top of its "unexpected CEO transition." Kohl's also reported third quarter earnings on Thursday, with revenue dropping 7% to $4.28 billion. The company warned investors of this drop in revenue earlier this month when it provided preliminary results for the quarter. Kohl's has been under pressure from activist investors as its sales have declined and its stock has slumped.

☆ Shoppers are pulling back at Macy’s and Kohl’s
▼ + stars: | 2022-11-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

That’s squeezing Macy’s, Kohl’s, Target and other chains. Macy’s (M) sales dropped 3.1% last quarter from a year ago, while Kohl’s (KSS) tanked 6.9%. “Consumers are showing increasing signs of stress and pulling back from discretionary purchases,” Target CEO Brian Cornell said on an earnings call. Although Macy’s own store sales fell 4.4% last quarter, Bloomingdale’s sales grew 5.3% and Bluemercury’s increased 14%. Macy’s stock gained 12% Thursday as the results exceeded analysts’ forecasts.

☆ Retailer Kohl's faces fresh call for board rejig from activist group Macellum
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

Macellum owns about 5% of the retailer and wants its candidates to replace some of the long-tenured directors, including chairman Peter Boneparth and other members of the executive committee. This is not the first attempt by Macellum, which is led by veteran retail investor Jonathan Duskin, to change the board. Shareholder pressure for Kohl's returned again last month when Ancora Holdings, one of the hedge funds that spearheaded a board shake-up last year, sought the removal of chief executive and board chairman. In its letter to investors, Macellum also said it had recently approached the board to work together on a refresh, but that was rebuffed by the chairman. Kohl's said the interactions with Macellum over the past two years have been "unproductive and a distraction from running the business".

☆ Activist investor pushes Kohl's to oust its CEO and chairman
▼ + stars: | 2022-09-22 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

Activist investor Ancora Holdings is pushing Kohl's to remove its chief executive and its chairman. Ancora sent a letter to the board Thursday asking for the replacement of CEO Michelle Gass and Chairman Peter Boneparth. The activist investor, along with Macellum Advisors, attempted to seize control of Kohl's board in 2021. In that attempt, Ancora, along with other stakeholders, pushed for new directors with retail experience, inventory reduction and the sale of Kohl's real estate. The real estate investor offered as much as $2 billion for the chain's property, which Kohl's would lease back for its store locations.

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