All City & finance articles – Page 144
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NewsAO expects profits in line with predictions as coronavirus boosts online growth
AO said it expects sales and profits for the financial year to be in line with analyst expectations and said the coronavirus has created a ‘new normal’ in terms of online electricals’ share of the market.
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NewsKingfisher sales hammered by coronavirus store closures
Kingfisher has seen sales during the first quarter of the year take a hammering from the coronavirus forced closure of its store estate.
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NewsMorrisons first quarter sales up despite ‘highly volatile’ trading
Morrisons has reported sales growth in the first quarter despite “highly volatile” trading patterns and a worse-than-expected Easter due to the ongoing coronavirus lockdown.
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OpinionRichard Lim: How to tackle the deepest recession in 300 years
The UK economy is clearly facing an extraordinary crisis. The coronavirus pandemic has sent shockwaves across communities, financial markets and has caused paralysis within many businesses.
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NewsMatalan founder Hargreaves asks lenders for £50m cash injection
Matalan founder and owner John Hargreaves has reportedly tapped existing lenders for a £50m loan.
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NewsJD Sports and Sports Direct square up for Office takeover
Retail rivals JD Sports’ Peter Cowgill and Sports Direct’s Mike Ashley are among the prospective bidders for footwear chain Office.
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NewsSuperdry full-year sales slide as it explores financing options
Superdry has reported a slump in full-year sales exacerbated by the outbreak of coronavirus.
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NewsOcado shareholders revolt over £88m bonus scheme for bosses
Nearly a third of Ocado investors voted against the business’ plans for a pay rise and £88m bonus payout for its top brass.
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VideoFace time: JD Sports boss Cowgill slams CMA’s ‘reckless’ Footasylum ruling
JD Sports’ executive chair Peter Cowgill speaks to Retail Week about the CMA’s ‘pre-judged’ decision to block its acquisition of Footasylum, despite the operational challenges faced by all retailers as a result of the coronavirus pandemic.
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OpinionOpinion: Retailers must take back control of their digital marketing destiny
The Javits Center in New York City is currently being used as a 2,500-bed field hospital run by the National Guard.
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NewsHolland & Barrett poaches McColl’s finance boss
Holland & Barrett has snapped up McColl’s chief financial offer Robbie Bell for the same role.
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NewsHalfords expects full-year profits at top end of range
Halfords has said it expects full-year profits for this financial year to come in at the top end of the expected range, while noting a downturn in overall group sales for the current trading period.
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NewsCMA blocks JD Sports-Footasylum merger despite coronavirus uncertainty
Following a phase two investigation, the CMA found the merger would “lead to a substantial lessening of competition nationally” in the footwear sector and would leave customers with “fewer discounts or receiving lower quality customer service”.
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NewsJ Crew becomes first major coronavirus casualty in the US
J Crew has become the first major US retailer to file for bankruptcy protection since the coronavirus lockdown was enforced.
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NewsHotel Chocolat opens new credit line as Easter sales hit by lockdown
Hotel Chocolat has opened a new line of credit with its bankers following a subdued Easter sales period due to the coronavirus lockdown measures.
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AnalysisAnalysis: Amazon sales rocket during coronavirus crisis, but at what cost?
Online titan Amazon posted quarterly figures that showed both the agility of its response to demand during the coronavirus pandemic and the massive cost – in dollars and perhaps reputation – that accompanied that.
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NewsIceland boss Walker slams ‘ludicrous’ HMRC probe into Christmas Club scheme
Iceland boss Sir Malcolm Walker has slammed HM Revenue & Customs for pursuing a “ludicrous” investigation into its Christmas Club employee savings scheme during the coronavirus crisis.
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NewsAmazon first-quarter profits dip as it warns of $4bn coronavirus costs
Amazon has reported in a decline in first-quarter profits and warned that earnings in its second quarter will be completely wiped out by costs related to coronavirus.
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OpinionMove of the Week: Waitrose's Bailey is the kind of leader you want in a crisis
When James Bailey left Sainsbury’s in October it’s unlikely he would have imagined his next role to be leading a rival grocer’s response to the biggest public health crisis in a century.
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NewsCoronavirus to wipe £1.7trn off global retail sales
The coronavirus crisis will wipe $2.1trn (£1.7trn) off of global retail sales in 2020, new data has predicted.