All City & finance articles – Page 85
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NewsNext downgrades profit guidance as Wolfson prepares for long-term instability
Next has revised down its full-year profit and sales guidance despite a better-than-expected first half as Lord Wolfson prepares the business for an extended period of financial uncertainty.
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NewsMorrisons profits plummet as ‘unprecedented’ inflation hits food manufacturing
Morrisons profits more than halved as the grocer bemoaned “unprecedented inflationary pressures” on its vertically-integrated food manufacturing.
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NewsBoohoo warns of further sales declines as profits crash
Boohoo has warned it is likely to suffer further revenue erosion during the crucial golden quarter after its first-half profits tumbled.
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AnalysisAnalysis: Setting a new direction – How Gymshark, Lick and Farmison are evolving DTC
Online-only DTC brands were expected to transform retail a few short years ago, but recent struggles have raised questions about their long-term viability. Does the model have a future?
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AnalysisAnalysis: What are the implications for retail as sterling takes a pounding?
The new government’s mini-budget last week proved to be anything but. Indeed, it was so dramatic that it has spooked financial markets and sent the pound to record lows against the dollar.
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NewsJD Sports fined £1.4m over Rangers FC price-fixing controversy
The Competition and Markets Authority (CMA) has fined JD Sports after it admitted to fixing the prices of Rangers FC merchandise.
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NewsCard Factory swings back to black as consumers return to high street
Card Factory has noted a “shift of customer spend back towards the high street and reversal of lockdown effects”.
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NewsRiver Island invests in stores as it returns to profit
River Island swung back into the black in 2021, beating pre-pandemic figures.
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NewsFrasers makes mandatory offer for online player MySale
Frasers Group has made a mandatory offer for online fashion specialist MySale after the rebuffal of earlier interest.
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NewsAldi pledges to 'double down' on low prices as profits fall
Value grocer Aldi has vowed to deliver the lowest prices to shoppers after posting a slide in annual profits.
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InterviewInterview: Poundland’s Barry Williams on Christmas, cost of living and gunning for the grocers
Retail Week sits down with Poundland boss Barry Williams to discuss the challenges and opportunities presented by the cost-of-living crisis, the retailer’s growing focus on new categories and building a profitable online business from a standing start
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NewsMade.com and Revolution Beauty sound alarm over trading and financing
Embattled retailers Made.com and Revolution Beauty have raised further alarm bells over their financing and current trading as both businesses battle to secure their futures.
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Opinion‘Hyperinflation demands aggressive response on customer proposition and costs’
While hyperinflation might be a new challenge for many UK retailers, there are strategies to navigate it, say Anita Balchandani and Richard Mayfield at McKinsey & Company
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NewsJD Sports rides out turmoil to post profits at top end of expectations
JD Sports has reported a fall in first-half profits, which nevertheless came in at the top end of management expectations after a period of upheaval.
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Opinion‘As retailers call founders to the rescue, long-term success can’t depend on them’
Several retailers in recent weeks have hoped their founders and former leaders can turn their fortunes around – but strong businesses are not one-man shows, writes George MacDonald
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NewsMoonpig goes back to basics to navigate cost of living crisis
Moonpig has said it will focus on greeting cards and has left its full year guidance unchanged as it seeks to navigate the current cost of living crisis.
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NewsMike Ashley to step away from Frasers at next AGM
Frasers Group has said founder Mike Ashley will not seek re-election as a director at its next annual general meeting and will be stepping away from the business.
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NewsKingfisher guidance unchanged despite profits and sales slump
Home and DIY giant Kingfisher has insisted that its full year guidance remains unchaged despite profits and sales falling in the first half.
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NewsTroubled Naked Wines parachutes founder Gormley in as adviser
Naked Wines has appointed founder Rowan Gormley, former chief executive and still a “material” shareholder, as a board adviser as it reviews its business.
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NewsJohn Lewis unveils one-off cost-of-living payment as losses widen
The John Lewis Partnership has authorised a one-off cost-of-living payment bonus and free food over the winter for staff as its losses deepen.