Latest finance news – Page 15
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Watches of Switzerland flat sales offset by ‘strong momentum in US’
Watches of Switzerland has posted flat group sales that were strengthened by its trading performance in the US.
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Frasers sales and profit rise as elevation strategy pays off
Frasers has reported an increase in sales and profit across its portfolio as the group’s elevation strategy continues to “drive strong trading performance”.
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Matches fires up equity raise to support turnaround
Luxury fashion retailer Matches is reportedly considering an equity raise in a bid to support its business turnaround strategy.
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Moonpig profits and sales grow
Online greeting cards specialist and technology platform Moonpig reported a growth in profits and sales, despite the challenging macroeconomic environment.
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THG acquires US skincare brand for $20m
THG, which owns Lookfantastic and Cult Beauty, has acquired skincare brand Biossance from US biotechnology group Amyris Inc for $20m (£15.8m).
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Quiz lowers guidance as sales dip
Quiz has announced that it expects revenue to be 6% to 8% lower than the £86.4m predicted in the year ending March 31, 2024.
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Farfetch scrabbles for fresh investment as it teeters on brink of insolvency
Luxury ecommerce platform Farfetch is desperately seeking a fresh cash injection as it strives to avert a collapse into insolvency.
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Ted Baker owner secures new funding for struggling brand
Ted Baker owner Authentic Brands Group has secured new funding for the retailer, which it said will help grow its UK and European operations.
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Private equity eye potential £100m Jollyes sale
Jollyes, one of the UK’s largest privately owned pet retailers, is being eyed up by private equity firms in a deal that could be worth more than £100m.
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Regulators urged to claw back millions in Wilko dividends
The chair of the Commons business and trade committee has urged UK regulators “explore every option” to claw back millions in dividends paid to Wilko’s founding family.
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Mulberry losses deepen despite booming international sales
Luxury fashion and accessories retailer Mulberry has reported deepening losses despite booming revenue internationally as it continues to invest in its “long-term future”.
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Dr Martens warns on profits as ‘increasingly difficult’ US market takes toll
Dr Martens has issued a profit warning as it said ongoing problems with its US business “will take longer” to fix than first thought.
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Mytheresa profits slip as luxe fashion demand slows
Luxury fashion retailer Mytheresa posted an increase in sales despite a slip in profits during the quarter as demand by its “aspirational customers across all geographies” slowed.
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Halfords delivers sales and profit growth despite ‘volatile trading environment’
Halfords has posted an increase in sales across its retail and autocentres categories as well as a rise in profit.
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Shein aims for New York Stock Exchange listing
Fast-fashion giant Shein is understood to be gearing up for a stock market float in the US as it reportedly filed “confidential paperwork” for an initial public offering.
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Wilko chair blames retailer’s collapse on Truss mini-budget
Former Wilko chair Lisa Wilkinson has laid out the issues that led to the collapse of the retailer, including pointing to former prime minister Liz Truss’ mini-budget for driving up interest rates.
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Pets at Home hails ‘resilient’ trading as it maintains full-year guidance
Pets at Home has hailed its “resilient performance” and noted “encouraging signs” in the lead-up to Christmas.
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Topps Tiles escalates market share while profits dip
Topps Tiles has posted a boom in sales for the full year and confirmed it has achieved its market share goal “two years ahead of schedule,” with cost inflation taking its toll.
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Business rates and wage hike could send inflation soaring, warns BRC
The British Retail Consortium has warned that inflation could rocket again next year, as retailers face soaring business rates bills and the rising national living wage.
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Decathlon buys German pureplay sportswear brand Bergfreunde
Sportswear giant Decathlon has announced the acquisition of German pureplay mountain sports, climbing gear and outdoor equipment specialist Bergfreunde.