All City & finance articles – Page 91
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NewsReliance and Apollo team up to lodge £5bn binding bid for Boots
Reliance Retail and Apollo are understood to have made a formal offer for Boots, which would allow current owner Walgreens to retain a significant minority stake.
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NewsCD&R clears final hurdle for £7bn Morrisons acquisition
Clayton, Dubilier & Rice (CD&R) has been given the all-clear to complete its £7bn acquisition of Morrisons after the competition watchdog agreed to its offer to sell some petrol forecourts.
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InterviewThe Amazon of washing machines: How Marks Electrical is taking on the titans
In a volatile and inflationary electricals market, Marks Electrical has bucked sector trends by growing both sales and market share. Retail Week speaks to chief executive Mark Smithson about how his business is outcompeting its more established rivals
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NewsAO scraps German business following strategic review
Electrical goods etailer AO.com has taken the decision to close its German business after eight years of trading, following a strategic review into its performance.
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Opinion‘CMA will act to protect shoppers from price fixing’
The Competition and Markets Authority receives more complaints about price fixing than any other infringement of competition law, says its senior director of antitrust Ann Pope – and it will not hesitate to clamp down on offenders
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NewsZara owner Inditex posts sales and profit rise despite Ukraine war impact
Fashion giant Inditex, owner of Zara, has reported a suresulrge in sales and profits but booked a substantial provision for the costs of Russia’s invasion of Ukraine.
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Opinion‘JD Sports must call on bench strength to stay top of the league’
For about as long as anyone can remember, JD Sports has stood proudly on the top of the podium in its field, but it is looks as if the retailer has lost its form, writes George MacDonald
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NewsTed Baker sale in doubt as preferred bidder pulls plug on deal
The proposed sale of Ted Baker has been thrown into doubt after the board’s preferred bidder dramatically backed away from a deal.
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AnalysisAlex Russo: The man stepping into some of retail’s biggest shoes as B&M boss
Taking the helm of a business from an entrepreneurial founder is often a challenge. On top of that, new B&M chief executive Alex Russo is facing volatile market conditions that already mean profits this year are likely to be below last.
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NewsDr Martens profits surge as it upgrades sales guidance
Dr Martens has posted a surge in profitability and upgraded sales guidance for its new financial year as its direct-to-consumer strategy drives performance.
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NewsB&M names new chief executive as profits come in flat
Value giant B&M has promoted chief financial officer Alex Russo to become chief executive and reported flat full-year profits.
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NewsMissguided tumbles into administration as rising costs bite
Missguided has called in administrators after failing to secure a buyer.
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NewsSainsbury’s commits to £500m price investment as customer concerns grow
Sainsbury’s chief executive has committed the grocery giant to invest a further £500m in lowering prices as customer concern over the cost-of-living crisis increases.
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NewsMissguided close to collapse after winding-up petition issued
Fashion etailer Missguided is on the edge of collapse after creditors filed a winding-up petition.
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NewsAsda sales slump against strong comparables as cost-of-living crunch bites
Asda has reported a slump in first-quarter sales against strong like-for-like comparables as the cost-of-living crunch begins to hit consumers.
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NewsMike Ashley’s Frasers Group takes $30m hit on sale of US businesses
Frasers Group has sold its two businesses in the US in a $70m (£55.7m) deal.
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NewsWickes hails ‘continued momentum’ despite dip in sales
Wickes has hailed a “promising start” to its financial year despite reporting a dip in sales.
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NewsJD Sports boss Cowgill steps down with immediate effect following governance review
JD Sports executive chair Peter Cowgill is to leave his post with immediate effect.
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NewsEG Group profits and sales jump on the strength of foodservice offering
Petrol forecourt giant EG Group has reported a leap in profits and sales in the first quarter off the back of strong performance from its growing food business.
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Opinion‘Walmart woes spook investors, but now’s not the time to run a business for the share price’
The challenges flagged by Walmart, and its responses to them, likely give a taste of things to come for the US giant’s counterparts on this side of the pond.