Latest finance news – Page 11
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Losses deepen at The Works as Christmas fails to deliver
The Works has reported deepening losses as cash-strapped customers prioritised food and essentials over gifts at Christmas.
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UK inflation rate increases to 4%
The annual rate of inflation has increased to 4% in a surprise rise, according to the Office for National Statistics (ONS).
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Mulberry sales decline as UK VAT hits luxury sector
Luxury fashion retailer Mulberry has posted a fall in sales which the group said was impacted by a “challenging macroeconomic backdrop” and a decline in luxury consumer spending.
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Superdry appoints PwC to review finances after profit warning
Fashion retailer Superdry has appointed PwC as advisers to examine debt-raising options as pre-Christmas trading suffered.
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Booths hails record Christmas week sales
Independent supermarket Booths has hailed record sales over the seven days leading up to Christmas.
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THG returns to revenue growth after ‘best performance of 2023’
THG, which owns health and beauty brands like Lookfantastic and MyProtein has posted a return to revenue growth in the “best quarterly performance of 2023.”
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Card Factory delivers strong sales in festive season
Specialist retailer Card Factory has reported a strong performance in the run-up to Christmas as it expects to deliver adjusted profit before tax at the top of the range of market expectations.
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Ocado Christmas sales hit ‘highest ever level’
Ocado has posted growth in sales as it delivered “another record Christmas and hit its highest-ever level of sales” over the peak trading period.
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BrandAlley acquires footwear resale platform The Edit LDN
Online retailer BrandAlley has acquired a majority stake in footwear resale platform The Edit LDN.
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Superdrug sales surge as market share grows
Superdrug has reported a surge in sales driven by affordable pricing and uptake in members-only deals as customers continue to battle the cost-of-living crisis and inflation in the run-up to Christmas.
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Battersea Power Station sales soar as Christmas boosts footfall
Battersea Power Station has reported a strong second Christmas as sales at the destination soared year on year and December proved to be its busiest of 2023.
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Seasalt Christmas sales surge as shoppers return to stores
Seasalt has reported “record” Christmas trading performance across all channels, crediting store performance in particular as the brand continues to resonate with shoppers.
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Burberry drops profit expectations as demand for luxury slows
Burberry has dropped its full-year profit guidance after it reported that sales in the run-up to Christmas were hit by waning demand for luxury.
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Fortnum & Mason posts soaring Christmas sales as customer numbers grow
Fortnum & Mason posted a strong sales performance over Christmas as customer numbers soared. Its success is credited to investment in its Piccadilly flagship as well as its return to ecommerce trading in Europe last year.
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Very Group credits toys, gifts and beauty for ‘strong’ Christmas trading
The Very Group has credited the success of its toys, gifting and beauty categories for driving “strong” Christmas results as sales rise in a “challenging market”.
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Exclusive: Homebase CFO Andy Coleman steps down
Homebase chief financial officer Andy Coleman has stepped down, Retail Week can reveal.
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Marks & Spencer sales rise across food and clothing
Marks & Spencer has posted a sales rise across its food, clothing and home categories over the Christmas period.
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Tesco upgrades profit guidance after ‘stronger performance than expected’
Tesco has upgraded its full-year profit guidance and said continued investments in its customer offer have resulted in a “stronger trading performance than anticipated”.
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Sosandar posts record quarter driven by ‘strong performance across all channels’
Fashion retailer Sosandar has posted a record golden quarter 23% increase in revenue year on year to £14.3m, up from £11.6m in the previous year.
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Marks Electrical reduces profit guidance despite sales rise
Marks Electrical has reduced its profit guidance despite growth in revenue and market share as “consumers remain highly price-conscious” in a challenging trading environment.