All City & finance articles – Page 69
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NewsShock interest rate rise means ‘struggle’ for shoppers and retailers, warns credit insurer
The bigger-than-expected increase in interest rates to the highest level since the 2008 financial crisis will pile more pressure on consumers and retailers, a leading credit insurer has warned.
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Opinion‘Boohoo and Revolution Beauty’s management pageant has already got ugly’
The gloves are off at Boohoo and Revolution Beauty, where the first punches have been exchanged in a fight for control of the embattled makeup specialist.
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NewsMorrisons sales increase as it continues to cut costs
Morrisons has reported a continued increase in sales as it makes progress with its “plans to develop a broader, stronger Morrisons”.
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NewsJoules still owes creditors over £100m following collapse
Fashion retailer Joules reportedly still owes more than £100m to its suppliers, landlords and customers holding gift cards, according to new documents.
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NewsBoohoo drafts in beauty retail specialist to join Revolution Beauty coup
Boohoo has this morning proposed a third new member for Revolution’s board, despite the beauty retailer slamming its attempted boardroom coup yesterday and labelling the fashion pureplay’s approach as “value-destructive, opportunistic and self-serving”.
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NewsTHG predicts increase in profitability ahead of AGM
THG says it expects an increase in profitability in the first half of 2023 as it continues its “successful focus on profitability and cash generation”.
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NewsHalfords delivers sales growth despite market headwinds
Halfords has reported growth in sales and market share in the 52 weeks ending March 2023 as investments in competitive pricing and a loyalty scheme paid off.
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NewsFrasers continues acquisition streak with stakes in Currys and Boohoo
Frasers Group has acquired an 8.9% stake in electricals retailer Currys and a 5% stake in online fashion retailer Boohoo in a continued string of acquisitions for Mike Ashley’s retail empire.
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NewsKurt Geiger secures new funding to drive global growth
Luxury footwear and accessories retailer Kurt Geiger has secured fresh funding in a bid to “refinance its existing debt” and support its international growth plans.
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NewsBoohoo seeks greater control of Revolution Beauty in boardroom coup
Boohoo, which owns a 26.6% stake in Revolution Beauty, announced its intentions to vote against the reappointment of the beauty brand’s senior executives as it moves to take control of the struggling business.
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NewsNext increases profit guidance as warm weather triumphs
Fashion giant Next has upgraded its full-year profit and sales guidance as the effects of the warm weather and annual salary increases pay off.
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NewsMusic Magpie trading ‘strengthens’ as it focuses on cost control
Music Magpie has delivered a “strengthened” trading performance as it chose to focus on cost control and increasing gross margins instead of “growing revenues on lower-margin products”.
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NewsWilko may pay no rent on some stores for three years in restructuring push
Turnaround plans being drawn up by variety store group Wilko, which may include a CVA, mean it may pay no rent on some stores for three years.
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NewsCurrys launches strategic review of Greek business
Electricals retailer Currys has begun a strategic review of its Greek division, Kotsovolos, which could lead to a sale.
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NewsTesco delivers robust sales as focus on value and quality pays off
In the 13 weeks to May 27, 2023, Tesco delivered strong results across all formats driven by a “relentless focus on value.”
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Opinion‘If a buyer wants to pounce on Asos, they might prefer to move sooner rather than later’
Asos was back in fashion with the City today as its shares climbed on the back of a trading update, providing welcome encouragement that chief executive José Antonio Ramos Calamonte’s turnaround efforts are working.
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NewsHugo Boss ups sales target and confirms global expansion plans
Luxury fashion group Hugo Boss has increased its 2025 sales target to €5bn (£4.2bn) and confirmed plans to “expand its global footprint” in its latest strategy update.
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NewsN Brown sales dampened by poor spring weather
Fashion group N Brown has reported a fall in first-quarter sales following lacklustre early spring weather as consumer confidence remained fragile.
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NewsAsos posts quarterly profit as turnaround strategy pays off
Online fashion giant Asos has hailed a return to profitability in its third quarter as evidence that its recovery plan is delivering.
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NewsMarks Electrical sales soar in record year
Marks Electrical has enjoyed a record year as savvy shoppers researched online for better prices on large appliances.