Latest finance news
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Superdry landlord M&G drafts in lawyers to review survival plan
The owner of Superdry’s Oxford Street flagship is reportedly mulling a challenge to the fashion retailer’s survival plan, which is set to involve steep rent cuts across some of its stores.
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Ted Baker’s European business in limbo with 149 jobs at risk
Ted Baker’s European arm is at risk of collapsing into administration, putting 149 roles at risk of redundancy at the fashion retailer.
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London Designer Outlet posts record-breaking sales
London Designer Outlet (LDO), located at Wembley Park, has recorded its strongest first quarter ever as sales surpassed £20m for the first time.
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Sainsbury’s sales soar as food first strategy pays off
Sainsbury’s has reported growth in sales with record market share gains and volumes driven by a strong performance by the supermarket’s food division.
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WHSmith sales rise driven by growth in travel division
WHSmith has reported a growth in sales driven by strong performance by its travel division in the half-year ending February 29, 2024.
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Luxury retail group Kering warns on profits as sales slide
Gucci owner Kering has warned on profits during the first half of the year as sales slipped at the luxury fashion house during its first quarter.
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THG sales dip as devalued yen hits nutrition business
THG has reported a dip in sales for the first quarter as its nutrition business proved to be a drag on surging beauty sales.
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JD Sports strikes £899m deal for US sportswear brand Hibbett
JD Sports has entered into a binding agreement to acquire US sportswear brand Hibbett for £899m.
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Primark profits soar as retailer targets further UK click-and-collect rollout
Primark profits have leaped and sales increased as the fashion brand targets rolling out click and collect across more stores across the UK.
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The Body Shop’s downfall triggered by owner’s failure to refinance loan
The Body Shop’s collapse was triggered by owner Aurelius failing to refinance loan, which resulted in an unplanned funding gap upwards of £100m.
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Asda sales and profits increase as it continues focus on growth
Asda has reported increased sales and underlying profits as the supermarket continues its strategy to focus on growth.
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Ocado shareholders push for switch to New York stock market
Ocado is under pressure from its shareholders to consider leaving the London stock market for New York, according to The Sunday Telegraph.
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Asda co-owner Zuber Issa close to selling £500m stake
Asda co-owner and billionaire Zuber Issa is reportedly edging closer to securing a deal to sell his £500m stake in the grocer to private equity firm TDR Capital.
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L’Oréal sales surge as mass-market beauty outgrows luxury
Global cosmetics giant L’Oréal has kicked off the first quarter with high-single-digit growth in sales as it “continued outperformance in a global beauty market that remained dynamic”.
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Shein revives interest in Topshop
Shein is understood to have rekindled its interest in Asos-owned Topshop alongside ABG, The Times reports.
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Dunelm guidance unchanged despite sales growth
Dunelm has posted a surge in sales driven by volume and growth across both in-store and digital channels in the third quarter, ending March this year.
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Trouva acquired for third time in two years
Trouva has been bought by Fy!, the third time the brand has changed hands in two years.
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LVMH revenue slips in ‘uncertain’ global market
Luxury retail group LVMH has posted a slight decline in overall reported revenue growth as it continues to trade in an “uncertain” geopolitical and economic environment.
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Adidas increases profit guidance as sales exceed expectations
Global sportswear giant Adidas has increased its full-year profit guidance after its performance exceeded expectations in the first quarter of 2024.
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Shein executive distances retailer from ‘labour practices’ concerns
A senior Shein director has maintained that technological prowess rather than supply chain working conditions have driven the pureplay fashion giant’s success.