All City & finance articles – Page 117
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NewsShoe Zone swings to full-year loss as Covid store closures bite
The UK’s largest value shoe retailer Shoe Zone has reported a loss for the year as the effects of the ongoing coronavirus pandemic begin to bite.
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NewsDeliveroo announces intention to float
Food delivery app Deliveroo has confirmed its intention to float on the London Stock Exchange after weeks of speculation.
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NewsMPs demand Boohoo bonuses linked with ethical and environmental pledges
The Environmental Audit Committee has written to Boohoo asking for its senior executives’ bonuses be linked to the progress made on its commitment to clean up its supply chain.
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NewsBudget: Business rates holiday extended and new recovery grants revealed
Chancellor Rishi Sunak has extended the business rates holiday for a further three months and will offer non-essential retailers new recovery grants of up to £6,000 per store.
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NewsChancellor to extend furlough scheme until September
The chancellor is expected to use today’s Budget to extend the furlough scheme through to the end of September.
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NewsVirgin Wines makes stock market debut after successful float
Virgin Wines will begin trading on the London Stock Exchange’s junior AIM market at 8am today following a £110m valuation.
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NewsHalfords to repay furlough cash as cycling sales soar
Halfords is set to pay back its furlough payments in full as trading so far this year has been “stronger than initially anticipated across the business”.
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NewsIn The Style announces intention to float on AIM
Fashion etailer In The Style is set to float on the AIM market of the London Stock Exchange.
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NewsPrimark loses £1.1bn in sales due to lockdowns
Primark estimates that non-essential retail closures across its global store estate cost the business £1.1bn in lost sales in the first half of its financial year, but expects the period after lockdown ends to be “highly cash generative”.
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NewsIkea full-year sales fall cushioned by strong online growth
Ikea has reported a decline in full-year sales across its UK business, but boss Peter Jelkeby praised the retailer’s accelerated transformation.
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NewsM&S boss Rowe hits out at ‘unbearable’ business rates burden
Marks & Spencer boss Steve Rowe has warned that the “unbearable yoke” of business rates will spark thousands more job losses unless the tax is overhauled by the government.
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NewsPoundland parent Pepco’s profits drop as it ramps up European expansion
Poundland’s owner Pepco Group has reported an uplift in full-year sales as it plans to open 400 new stores per year.
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NewsNext boss calls for business rates reform as Sunak delays government review
Next boss Lord Wolfson has called for business rates on high street stores to be slashed by a third to stem the tide of store closures.
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NewsConsumer confidence boosted in February as vaccine rollout continues
Consumer confidence jumped in February as the UK looks forward to a post-pandemic future.
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NewsMoonpig set to double full-year sales after ‘strongest ever’ Valentine’s Day
Moonpig reported the strongest week of trading in its history in the run up to Valentine’s Day.
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NewsAdidas set to sell off Reebok to bolster growth ambitions
Adidas has confirmed plans to offload Reebok as part of its five-year strategy to focus on strengthening its core brand.
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NewsRetailer anger follows call with ‘rude’ business secretary Kwarteng
Retailers’ relations with new business secretary Kwasi Kwarteng have got off to a rocky start after a bad-tempered call this week.
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NewsIssa brothers complete £6.8bn acquisition of majority Asda stake
The Issa brothers and investment vehicle TDR Capital have confirmed the brothers’ acquisition of Asda for £6.8bn.
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NewsRussia’s pound shop to launch London IPO
Fix Price, Russia’s version of Poundland, has set a course for a London stock market listing.
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NewsDunelm’s Will Adderley to sell shares as homewares boom continues
Dunelm’s deputy chair and biggest shareholder Will Adderley is set to reduce his stake in the company.