All City & finance articles – Page 115
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AnalysisAnalysis: Co-op’s business rates return refusal – prudent or a PR disaster?
Another impressive set of annual results for the Co-op has been overshadowed by its decision to keep business rates relief. Group chief executive Steve Murrells explains the decision and claims it has the full backing of members.
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NewsDunelm profits to beat forecasts despite store closures hit
Homewares specialist Dunelm reported that it underperformed the market in its third quarter as stores were shut during lockdown, but it still expects full-year results to beat expectations.
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NewsAsos lifts earnings forecast after stellar first half
Fashion etailer Asos has upped profit expectations after a strong first half powered by “exceptional execution” as the pandemic continued.
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NewsFrasers Group calls for inquiry into Peacocks deal
The Mike Ashley-led Frasers Group has called on MPs to launch an inquiry into the handling of the sale of fashion chain Peacocks to a group backed by former owner Philip Day.
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NewsJoules poaches new chief financial officer from Moneysupermarket
Fashion retailer Joules has poached its new chief financial officer from price comparison business Moneysupermarket to replace outgoing CFO Marc Dench.
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NewsPaphitis warns it’s ‘goodnight Vienna for physical retail’ without rates reform
Retail tycoon Theo Paphitis has urged chancellor Rishi Sunak to reform business rates or risk the “destruction” of bricks-and-mortar retail.
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AnalysisAnalysis: How Next’s Total Platform is ‘following the money’ online
Bellwether retailer Next unveiled its full-year results today, confirming that online is doing better than ever and providing more information on its latest etail venture.
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NewsBoots UK sales slide as parent Walgreens ups profit guidance
Boots has endured a slump in second-quarter sales as parent company Walgreens blamed the reintroduction of lockdown restrictions for the “set back” in its revenue recovery.
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NewsNext raises 2022 forecast despite slump in profits during pandemic
Next has raised its profit guidance for the 2021/22 financial year despite a slump in earnings during the coronavirus crisis.
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NewsWatch: H&M incentivises sustainable behaviours with green loyalty points
H&M has introduced points for loyalty club members to reward them for making more sustainable choices.
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NewsH&M seeks to ‘regain trust’ in China following Xinjiang row
Fashion giant H&M has insisted it remains committed to trading in China and hopes to defuse a row over forced labour allegations that have led to a backlash against the retailer.
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AnalysisAnalysis: Has private equity ownership done retail more harm than good?
Buy cheap, pile on debt, flog assets and extract the value, sell high to a new owner and pay yourself handsomely – that’s one characterisation of private equity, with recently collapsed department store group Debenhams seen as the poster child in critics’ eyes.
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NewsDeliveroo slashes share price amid investor fears over workers’ rights
Deliveroo is set to price its imminent float at the bottom of the range due to investor concerns over the pay and working conditions of its riders.
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AnalysisRetail with purpose: how to pin down yours
More than ever, consumers are looking to shop with brands with purpose – those that share the same values as themselves. But how do retailers establish what their purpose is and how do they communicate it to staff and shoppers?
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NewsRetailers divided over business rates in submissions to Treasury review
Retail respondents to the Treasury’s call for evidence on business rates reform are split over the benefits and potential risks to the high street of introducing an online sales tax.
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NewsUK plans four regional trade hubs to boost international exports
The UK government has made plans to launch four trade hubs in a bid to boost the economy post-Brexit and post-pandemic.
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NewsMcColl’s profits slide as Morrisons partnership extended
McColl’s has recorded a decline in profits as the pandemic altered its shoppers’ spending habits.
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OpinionMatt Truman: ‘The UK should focus on becoming champions of the internet’
I was humbled recently to be asked by the government to contribute future policy recommendations to supercharge post-Brexit growth.
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NewsKingfisher profits and sales soar off back of strong Covid trading
Home and DIY giant Kingfisher has reported soaring profits and sales in the last year, with chief executive Thierry Garnier confident of its “continued outperformance” of the market.
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NewsChancellor to delay decision on UK online sales tax
Chancellor of the exchequer Rishi Sunak is set to delay any final decision on a UK online sales tax to the autumn and will take his lead from whether the US supports the reform.