Latest finance news – Page 42
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NewsThe Range owner completes acquisition of Homebase
CDS Superstores, the owner of The Range and Wilko, has completed its acquisition of Homebase’s brand name, intellectual property, and up to 70 of its UK stores.
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NewsPeel Hunt downgrades profit forecasts for six retailers due to Budget impact
Investment bank Peel Hunt has downgraded its profit forecasts for six retailers, including struggling fast fashion player Boohoo and cycling and motoring specialist Halfords, due to the effects of changes to national insurance made in the recent Budget.
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NewsThe Range is circling a chunk of Homebase in a pre-pack deal
The Range is circling a deal with Homebase to snap up a chunk of the business that will save almost 1,500 jobs.
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NewsMarks Electrical profits dip despite growth in sales
Marks Electrical has posted a dip in half-yearly profits despite a growth in sales as consumers traded down to non-premium products, reducing profit margins.
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NewsSpace NK to open new stores next year as sales surge
Beauty chain Space NK plans to open 10 shops next year after its sales increased 34% in a year.
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NewsTesco set for £1bn national insurance bill over four years
Supermarket chain Tesco is set to face a £1bn national insurance tax bill over the next four years following the recent Budget.
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NewsLord Rose: ‘Business has been clobbered’ by the Budget and Trump election will stimulate growth
The defacto interim chief executive of supermarket giant Asda Lord Stuart Rose has joined the chorus of senior retailers slamming the recent Budget as “unhelpful” while being cautiously optimistic about Trump’s election win stimulating economic growth.
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NewsBoohoo outlines ‘concerns in relation to Frasers’ behaviour’ as battle continues
Boohoo has written a new letter highlighting “concerns in relation to Frasers’ behaviour” as the two retailers continue their public battle over the company.
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NewsMamas & Papas racks up record sales as demand for British baby products grows
Mamas & Papas has seen record sales and a surge in profits following a programme of expansion in the UK and abroad.
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NewsBurberry has named a former exec as its new product boss
Luxury fashion retailer Burberry has announced the appointment of a former executive as its new chief product merchandising and planning officer.
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NewsSainsbury’s sales and profit rise driven by grocery market share gains
Sainsbury’s has posted growth in half-year sales and profit as the food business goes from “strength to strength”
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NewsFrasers insists on shareholder approval before any Boohoo asset disposals
Frasers has written a new letter to Boohoo demanding the retailer allows shareholders to vote on key decisions including any disposals of Boohoo’s assets.
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NewsPandora hails growth after scaling up investments in personalisation and brand perception
The jewellery specialist Pandora hailed 11% organic growth in its third quarter after focusing on investing in customer experience and brand perception.
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NewsM&S profits and sales soar as strong food and clothing sales drive growth
Marks & Spencer’s profits and sales have soared, driven by strong sales performances from its food and clothing businesses.
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NewsZalando’s sales and profits are up after ‘strong start’ to new season
Online fashion giant Zalando has reported a “strong” third quarter as sales and profits surged amid “increasing consumer demand”.
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NewsBoots expects this Black Friday to be its ‘biggest-ever’
Exclusive: The UK’s largest health and beauty retailer expects this Black Friday to be its biggest ever for deals - and, it hopes, for sales - as it gears up for a month of promotions and offers, Retail Week can reveal.
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NewsPrimark profits rocket as sales climb
Value clothing powerhouse Primark has posted a big rise in full-year profits, helped by factors such as lower costs.
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NewsAsos to shift focus after laying foundations for profitable growth
Online fashion specialist Asos has reported that it has met strategic turnaround targets and can now ‘focus on taking actions to delight customers’.
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NewsUK retail sales show marginal increase as economic uncertainty spooks consumers
Retail sales in the UK improved marginally in October as “uncertainty during the run-up to the budget” and “rising energy bills” spooked consumers.
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NewsBurberry share price rises amid Moncler takeover rumours
Burberry saw an increase in its share price after reports emerged that its Italian rival Moncler may be considering a takeover bid for the British luxury brand.