All City & finance articles – Page 4
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NewsFrasers sells Malaysian Sports Direct business for over £100m
Frasers Group has agreed the sale of its interest in Sports Direct Malaysia to MAP Active for c.$150m (£113.2m).
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NewsTopps Tiles issues profit warning as heatwave forces work stoppages
Topps Tiles has issued a profit warning, blaming margin pressures from ongoing macroeconomic uncertainty and “extreme heatwave conditions”.
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NewsFormer Superdry and M&S finance director to join Poundland
The former finance director of Superdry and Marks & Spencer is set to join struggling discounter Poundland as it continues its turnaround under new ownership.
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NewsPrimark like-for-like sales retreat in ‘challenging consumer environment’
Primark’s like-for-like sales have fallen, with the fashion giant blaming a “challenging consumer environment across most of our markets”.
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NewsFormer Tesco Bank boss joins John Lewis Money
The ex-chief executive of grocery giant Tesco’s bank is to join the board of John Lewis Money as it seeks to strengthen its proposition, Retail Week can reveal.
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NewsSainsbury’s ‘outperforms the market’ as quarterly sales rise
Sainsbury’s said it expects “to continue to outperform the grocery market”, despite subdued consumer confidence, as it reported a boost to first-quarter sales.
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NewsAccent Group rejects Frasers’ ‘materially inadequate’ takeover bid
Australian retail group Accent has rejected the takeover bid from Frasers Group, branding the offer as “materially inadequate”.
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NewsLeading Ocado shareholders oppose plan to oust founder Steiner
Several of Ocado’s top 10 investors have written to the board in support of boss Tim Steiner after others aimed to push him out
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NewsCourt decision imminent on TGJones restructuring
Court approval will be sought today and tomorrow for the restructuring of embattled TGJones, which has won backing from some of its main landlords.
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NewsFor sale sign raised at Harvey Nichols
Famous department store group Harvey Nichols has been put up for sale by its billionaire owner, it is understood.
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NewsMatalan extends debt facilities
Matalan has secured extensions to the maturities of its debt facilities from its investors, a vote of confidence in its long-term transformation strategy.
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NewsFrasers says £1.7bn Hugo Boss offer is final
The company issued a statement yesterday saying its £1.7bn offer for the premium German fashion brand will not be increased.
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AnalysisHalfords boss Henry Birch on executional focus, the consumer mood and political change
Car accessories and bikes retailer Halfords hailed strategic progress as it reported a rise in full-year sales and profits.
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NewsMoonpig earnings rise in ‘year of strong progress’
Moonpig has reported higher annual sales and earnings and its new chief executive was confident in prospects.
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NewsH&M sales come in ‘lower than planned’ in latest quarter
Fashion giant H&M has reported poorer sales than hoped for in its second quarter, but profitability was up in the period.
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NewsHalfords posts profit rise as strategy pays off
Motor accessories and bikes specialist Halfords has reported increased earnings as the benefits of its strategy started to be felt.
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Chart of the WeekChart of the Week: How Amazon’s capex compares to all retailers in the FTSE 350
Amazon’s capex totalled $132bn in its last financial year. Put all of the spending of major UK retail businesses together, and you don’t come close to that.
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NewsB&M appoints Asda commercial finance VP as new CFO
B&M has announced it has appointed a new chief financial officer, starting the role from early next year.
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NewsAsda slumps deeper into the red as losses near £1bn
Supermarket chain Asda slumped deeper into the red last year, according to its most recent set of accounts filed with Companies House.
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NewsTGJones squeezes suppliers in last-ditch rescue attempt
The owner of WHSmith’s former high street chain risks a wave of fresh criticism as the retailer seeks to postpone repayments owed to major suppliers.