Latest finance news – Page 25
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NewsSpring statement brings no new pain for retail – but no relief either
While today’s spring statement did not have any more unexpected tax rises in-store for retail, it also did not deliver any relief for a sector still coming to terms with the October Budget.
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NewsMorrisons sales jump as grocer ramps up cost-cutting targets
Morrisons’ sales for the first quarter jumped, as the retailer increased its cost savings target by £300m to £1bn in the “medium term”.
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NewsLakeland becomes latest acquisition target for Modella Capital
Lakeland has emerged as a takeover target for several investment groups, including Modella Capital, which owns Hobbycraft and The Original Factory Shop.
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NewsUK inflation falls ahead of chancellor’s spring statement
Inflation across the UK has fallen further than expected ahead of chancellor Rachel Reeves’ spring statement later today.
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NewsVirgin Wines reports ‘resilient’ sales and profits as it targets £100m in revenue
Virgin Wines hailed “strong profitability” during the first half.
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NewsTHG completes £90m fundraise to support ‘strategic growth targets’
THG has completed a £90m fundraiser as it requested a debt refinancing and equity raise to support “strategic growth targets.”
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NewsAO profit expected to come in at top end of guidance
Electricals retailer AO expects its profit to come in at the top end of its guidance range as its adjusted profit before tax grows faster than sales.
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NewsWHSmith completes refinancing package
The retailer announced the completion of a £200m issue of US Private Placement (USPP) notes and a bank term loan of £120m.
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NewsKingfisher profit drops as ‘big ticket’ demand weakens
The retail group, which owns B&Q and Screwfix, reported a 7% fall in profit in 2024/25 with sales also declining on the year before.
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NewsAsos ups profit outlook as own-brand sales return to growth
Asos told the City that it expects a “significant improvement” in profitability during the first half of the financial year.
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NewsConsumer confidence improves but mood remains ‘fragile’
Consumer confidence increased in March due to the public seeming more positive about the economy – but there are warnings that confidence is still “fragile”.
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NewsFootasylum hails ‘best-ever’ performance amid ongoing store investment
Footasylum has reported its “best-ever” financial performance as it continues to invest in its store estate and omnichannel retail experience.
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NewsWickes profits fall despite ‘strong progress’ and growing market share
Home & DIY specialist Wickes has reported a fall in annual profits and sales despite hailing 2024 a year of “strong progress” for the business as it continued to grow market share.
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NewsConsumer confidence stabilises as Gen Z gears up to spend
Consumer confidence has stabilised in March following a record low in February, with younger shoppers, particularly Gen Z consumers, expected to spend more.
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NewsGovernment plans to raise business rates to cost ‘600 shops and 5,500 jobs’
The government’s plans to raise business rates for the largest retailers puts over 600 stores and over 5,000 jobs at risk.
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NewsFormer Wilko boss takes up senior role at Poundland
The ex-chief executive of embattled variety store group Wilko has joined the leadership team of value specialist Poundland as its owner considers a sale, Retail Week can reveal.
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NewsForever 21 files for bankruptcy for second time in six years
US fashion retailer Forever 21 has filed for bankruptcy for the second time in six years, blaming mounting online competition from fast fashion retailers and weak footfall.
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NewsWaterstones boss teases idea of a London stock exchange float
The boss of Waterstones James Daunt has teased the idea of floating the book retailer on the London stock exchange.
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NewsFenwick drafts in restructuring experts as it aims to cut costs
Department store chain Fenwick has called in restructuring experts as it aims to cut costs following several loss-making years.
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NewsAsda profits improve off the back of strong George performance
Asda has reported an improvement in profits driven by a strong non-food performance headlined by clothing giant George.