All City & finance articles – Page 30
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NewsMulberry losses widen and sales slide as it looks to ‘rebuild’ and ‘reprioritise’ brand
Luxury fashion and accessories retailer Mulberry has reported deepening losses and falling sales as focus shifts on need to “reprioritise” and “rebuild” business.
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NewsAsos boss Ramos Calamonte receives bumper pay rise despite deepening losses
The boss of fashion giant Asos has received an almost 44% pay rise amid a turnaround at the retailer following mounting full year losses.
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NewsHuel posts record sales and triples profits in year of ‘strengthening our foundations’
Huel’s sales for the 2024 financial year surged past £200m for the first time, as its profits more than tripled to £13.8m in the year. It also completed construction of its in-house manufacturing facility in Milton Keynes.
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NewsAllSaints shows commitment to bricks-and-mortar with raft of international store openings
Fashion retailer AllSaints is ramping up its international expansion strategy with a raft of new store openings worldwide.
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NewsMorrisons pays down debt and extends revolving credit facility
Supermarket giant Morrisons has announced it has paid down a further £200m of debt and extended the maturity of its revolving credit facility to 2030, reducing its overall levels of debt.
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NewsShein is targeting early 2025 for blockbuster London float
Shein, the fast-fashion ecommerce giant, is reportedly preparing to launch its massive £50bn IPO on the London Stock Exchange in early 2025.
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NewsLidl increases investment in British made food to £21bn
Discounter Lidl says it is “on track” to increase its investment in British food to £21bn by the end of the year, exceeding its original five-year target by 40%.
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AnalysisAre job cuts, store closures and inflation really inevitable after Labour’s Budget retail ram raid?
From “disappointing” to “clobbered”, the retail backlash to last month’s Budget has only grown with every passing day. The next question is what the sector will do in response?
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NewsBoohoo chief executive says all options are on the table as he commences business review
Boohoo’s new chief executive Dan Finley said he is considering all options as the retailer commenced a review of the business after losses deepened.
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NewsBurberry unveils ‘urgent’ turnaround plan as profits and sales plummet
Burberry has said it is “acting with urgency” as it launches turnaround plan to “stabilise” the business following plummeting profits and sales at the luxury brand.
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NewsBritish Retail Consortium warns Reeves of ‘inevitable’ job losses and price rises due to Budget
The British Retail Consortium has written to chancellor Rachel Reeves warning that her national insurance raid in the recent Budget will inevitably lead to job losses in the sector and an increase of prices for consumers.
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NewsWHSmith profits and revenues soar as travel business takes off
WHSmith has reported increases in profits and revenues, driven by strong performances by its travel businesses in the UK and around the globe.
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NewsBoohoo calls on shareholders to reject Frasers’ proposals as losses deepen
Boohoo has this evening called on its shareholders to vote against all the proposals set out by Frasers, insisting its existing board can turn the ship around even as its losses deepened in the first half.
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NewsPeel Hunt downgrades profit forecasts for six retailers due to Budget impact
Investment bank Peel Hunt has downgraded its profit forecasts for six retailers, including struggling fast fashion player Boohoo and cycling and motoring specialist Halfords, due to the effects of changes to national insurance made in the recent Budget.
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NewsMarks Electrical profits dip despite growth in sales
Marks Electrical has posted a dip in half-yearly profits despite a growth in sales as consumers traded down to non-premium products, reducing profit margins.
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NewsTesco set for £1bn national insurance bill over four years
Supermarket chain Tesco is set to face a £1bn national insurance tax bill over the next four years following the recent Budget.
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NewsLord Rose: ‘Business has been clobbered’ by the Budget and Trump election will stimulate growth
The defacto interim chief executive of supermarket giant Asda Lord Stuart Rose has joined the chorus of senior retailers slamming the recent Budget as “unhelpful” while being cautiously optimistic about Trump’s election win stimulating economic growth.
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NewsBoohoo outlines ‘concerns in relation to Frasers’ behaviour’ as battle continues
Boohoo has written a new letter highlighting “concerns in relation to Frasers’ behaviour” as the two retailers continue their public battle over the company.
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NewsBurberry has named a former exec as its new product boss
Luxury fashion retailer Burberry has announced the appointment of a former executive as its new chief product merchandising and planning officer.
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NewsSainsbury’s sales and profit rise driven by grocery market share gains
Sainsbury’s has posted growth in half-year sales and profit as the food business goes from “strength to strength”