All City & finance articles – Page 134
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NewsNew Look launches CVA following new financing
Under-pressure fashion retailer New Look has unveiled CVA proposals after conducting a £440m debt-for-equity swap and with lender backing.
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NewsFrasers Group considers mothballing Bob’s Stores chain after Nike severs ties
Frasers Group has launched a strategic review of its Bob’s Stores chain in the US after Nike revealed it will stop supplying product to the business.
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NewsDFS reports trading ‘significantly ahead of expectations’
DFS, the specialist sofa retailer, has reported strong trading in recent weeks as consumers splashed out on their homes.
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NewsRetailers and landlords clash over rent holiday
The biggest lobby groups representing retailers and landlords have become embroiled in a row over rent holidays amid the coronavirus crisis.
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NewsFrasers Group rescues DW Sports from administration in £37m deal
Frasers Group has rescued Dave Whelan’s DW Sports from administration in a £37m deal.
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NewsDebenhams parent company Celine teeters on brink
Debenhams’ parent company has drafted in advisers as it prepares to enter administration, just months after the department store chain collapsed for the second time in a year.
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NewsEstée Lauder to axe 2,000 jobs as coronavirus hammers profits
Cosmetics giant Estée Lauder is cutting 2,000 jobs across the globe amid plans to close stores and department store beauty counters in the wake of the coronavirus crisis.
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NewsAlibaba profits surge as customer numbers jump during lockdown
Alibaba has smashed quarterly profit predictions as online sales surged during lockdown and demand for its cloud computing services soared.
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NewsAO boss Roberts urges more retailers to launch company-wide bonus plans
AO.com boss John Roberts has urged more listed retailers to launch company-wide incentive plans for staff after its new scheme was unanimously approved by shareholders.
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NewsAsda bids lined up by former CEO and ex-Debenhams boss
Former chief executives of Debenhams and Asda are understood to be working with private equity groups on a bid for the supermarket chain.
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NewsGlobal Fashion Group breaks even as online shift boosts sales
Global Fashion Group recorded its second quarter of growth this year, as the ecommerce shift in fashion and lifestyle shopping “continues to accelerate”.
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NewsAO.com reports ‘strong’ sales growth ahead of AGM
Pureplay electronics retailers AO.com has reported “strong year-on-year revenue growth” in the UK and Germany ahead of its annual general meeting today.
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NewsFrasers Group blames profit slump on Brexit and coronavirus
Mike Ashley’s Frasers Group reported a slump in profits that it blamed on a prolonged period of Brexit uncertainty followed immediately by the coronavirus crisis.
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AnalysisThe economics of ecommerce: Counting the costs of trading online
As countries went into lockdown when the Covid-19 pandemic hit, ecommerce was the sole channel still open to retailers of products deemed non-essential.
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AnalysisThe Big Question: Should there be a cap on CVAs for retailers?
As the coronavirus continues to hammer sales and customer footfall levels show no signs of returning to pre-Covid levels any time soon, more struggling retailers are turning to insolvency procedures such as CVAs to survive. However, with many brands having a second or third bite of the cherry, industry experts debate whether a cap should be put in place
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NewsFenwick full-year losses widen as pre-pandemic sales slide
Fenwick has suffered widening losses and falling sales in a what is described as an “extremely challenging” year, Retail Week can reveal.
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NewsFrasers Group chair in closed-period share-buying blunder
The non-executive chair of Mike Ashley’s Frasers Group accidentally bought shares in the retailer ahead of this week’s results.
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AnalysisMarks & Spencer job cuts – harsh medicine, but necessary
Marks & Spencer’s biggest round of job cuts ever has sent shockwaves through retail. Around 7,000 roles will be axed – and that is on top of 950 redundancies revealed just a month ago.
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NewsAsda eyes ecommerce expansion as online sales double
Asda has said it plans to expand its online delivery capacity to 1 million slots a week by next year after seeing online sales double in its second quarter.
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NewsGrocery sales lowest since pre-lockdown as market begins to return to normality
Sales of take-home groceries have fallen to their lowest levels since before the coronavirus plunged the UK into lockdown, according to the latest market share data.