All City & finance articles – Page 15
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Matches aims to rekindle ‘customer love’ after full-year loss
Matches has said it will focus on getting the brand back to profitability and growing “customer love” amid its turnaround strategy after a full-year loss and decline in revenue.
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Asda acquires EG and pledges price cuts
Asda has completed its purchase of forecourt retail giant EG Group at an enterprise value of £2.07bn. It vowed the deal will mean lower fuel and grocery prices “for millions”.
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Body Shop enters exclusive sale talks with Aurelius
Private equity house Aurelius is in exclusive talks to acquire health and beauty retailer The Body Shop, which is being sold by owner Natura &Co.
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Embattled Asos considers sale of Topshop
Online fashion specialist Asos is examining the possible sale of the Topshop brand, which it bought three years ago, as boss José Antonio Ramos Calamonte seeks to turn around the core business.
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Frasers offloads Missguided to Shein and eyes Wiggle deal
Frasers Group has sold Missguided’s intellectual property to online fast fashion giant Shein and flagged the potential for future collaboration between the pair.
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‘Challenging’ market conditions hit Very Group results
The Very Group has posted its full-year results, showing relatively flat revenue and a mixed sales performance.
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Boohoo threatened with £100m lawsuit
Fast-fashion retailer Boohoo is facing a potential £100m lawsuit from investors after modern slavery allegations slashed more than £1bn from its value.
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ScS posts ‘resilient’ results as current trading ‘toughens’
Profits at sofas retailer ScS edged down last year and the retailer reported that the trading environment has been harder in the first quarter of the new financial year.
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Asos delays results and confirms full-year loss
Online fashion specialist Asos has delayed its full-year results for a week.
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WiggleCRC faces uncertain future as financial lifeline lost
WiggleCRC’s future is on the line after parent company Signa Holding, the co-owner of Selfridges, withdrew a financial lifeline.
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Unseasonably warm weather hurts September fashion sales
Unseasonably warm weather undermined clothing retailers’ sales in September, official data has shown.
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Matalan hails ‘strong’ quarter as revenue and profits rise
Matalan has reported an increase in revenue and profits during a “strong” second quarter for the retailer as it works to build a “stronger, more modern” business.
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Business rates to increase £1.7bn in 2024
Retail businesses will have to find an extra £1.7bn next year to pay for business rates, in line with September’s 6.7% rate of inflation.
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Exclusive: New Look completes £100m refinancing
Fashion retailer New Look has successfully completed a £100m debt refinancing deal as it recorded a full-year loss before tax despite an increase in EBITDA and revenue.
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THG recovery builds after a ‘best ever’ performance by MyProtein
THG, which owns brands including Lookfantastic, Cult Beauty and MyProtein, has posted a steady rise in revenue as it maintained its profit guidance for the year ahead.
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THG explores taking MyProtein public in the US
THG, which owns Lookfantastic and Cult Beauty, is exploring plans to list MyProtein, its nutritional arm, in the US.
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Exclusive: Orlando Capital joins race to buy Body Shop
German private equity firm Orlando Capital has emerged as the latest player in the running to buy The Body Shop, Retail Week can reveal.
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Ted Baker owner steps in to prop up struggling retailer
Authentic Brands Group, the US-based owner of Ted Baker, has moved to head off a cash crunch at the fashion retailer as the company appointed to run operations struggles to raise financing.
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Next acquires Fat Face for £115m
Next has struck a deal to acquire fashion retailer Fat Face for the value of £115.2m.
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Boots delivers growth in market share driven by beauty and skincare
Boots delivered 11.7% year-on-year growth in retail sales in the three months to August 31, 2023, as its market share grew for the 10th consecutive quarter.