Latest finance news – Page 43
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NewsChancellor unveils plans to ‘overhaul’ business rates in Labour conference speech
Chancellor of the exchequer Rachel Reeves has described the current business rates system as “outdated” and pledged to overhaul it in her speech at the Labour Party conference.
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NewsLondon Designer Outlet had its ‘best summer on record’ as sales surpassed £10m
London Designer Outlet has reported its “best summer performance on record” with its strongest-ever sales outside of December occurring in August.
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NewsOliver Bonas profits have dipped as shoppers tighten belts
Fashion, jewellery and homewares retailer Oliver Bonas has reported rising sales but declining profits for the 2023 financial year as it battles soaring inflation and “subdued discretionary consumer spending”.
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NewsSeasalt has named a new chief financial officer
Cornish fashion retailer Seasalt has drafted in a new chief financial officer in a ”significant strengthening” of its top team.
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NewsNike’s chief executive is to step down following tough period
The chief executive of sportswear giant and retailer Nike is to stand down next month and be replaced by a veteran of the business.
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NewsRetail volumes rose in August helped by weather and Sales
Retail sales volumes advanced last month and over 12 months, reached the highest level in more than two years.
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NewsUK consumer confidence has taken a drastic fall in September
UK consumer confidence took a drastic fall in September, reflecting consumer nervousness about the withdrawal of winter fuel payments and clear warnings about further difficult decisions to come.
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NewsOcado Retail lifts its sales guidance after a ‘strong’ quarter
Online grocery giant Ocado has increased its full-year revenue guidance as a result of “strong performance” as it continues making moves as “the UK’s fastest growing grocer”.
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NewsNext ups its full-year guidance again due to surging sales and new ‘avenues of growth’
Next has upped its guidance for the full year to January 2025, with profits now anticipated to reach almost £1bn, as sales and profits at the fashion giant have surged once again.
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NewsFootasylum profits and sales have soared after a ‘record’ year
Sportswear retailer Footasylum has reported another “record” year of profits and sales helped by its ongoing store expansion strategy and enhanced omnichannel retail technology.
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NewsLandlord Hammerson has sold its Bicester Village stake for £1.5bn
Hammerson has completed the £1.5bn sale of its joint venture in Bicester Village to a newly created private equity firm.
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NewsFrasers to open 12 new stores in Europe as part of latest acquisition
Frasers is set to open 12 new stores in Belgium, the Netherlands and Luxembourg (Benelux) as it announced a series of strategic acquisitions and partnerships to boost international expansion.
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NewsRose steps up at Asda as co-owner Mohsin steps down
The supermarket today announced that co-owner Mohsin Issa would be relinquishing his executive role to focus on EG Group.
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NewsAllSaints profits have surged in another ‘record’ year
Fashion retailer AllSaints has reported yet another “record” year as profits and sales are up and it remains “confident as ever” in future growth.
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NewsPret sales have hit £1bn for first time as international business thrives
Pret a Manger has reported sales of more than £1bn for the first time as appetite for the coffee chain outside of the UK ramps up.
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NewsTHG is set to spin off its Ingenuity arm as it records a dip in profit and revenue
THG has reported a dip in revenue and profit as it also looks to demerge its technology platform Ingenuity.
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NewsKingfisher sales have slipped across several markets
Kingfisher has recorded a sales decline across several of its markets but said there were “resilient volume trends” in core product categories.
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NewsHotel Chocolat has named a new chief executive after being acquired by Mars
Hotel Chocolat has promoted its UK managing director and group marketing officer Lysa Hardy to the role of chief executive officer after the retailer was bought out by confectionery giant, Mars in a £534m deal at the end of last year.
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NewsOver 17,000 high street shops could shut over the next decade due to business rates, BRC warns
The retail sector is overtaxed compared to other sectors of the economy in the UK putting over 17,000 high street shops under threat over the next decade, new research by the British Retail Consortium (BRC) has revealed.
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NewsJohn Lewis losses have narrowed as it remains on track to deliver higher full-year profits
John Lewis Partnership has reported growth in sales and reduced losses in the first half of the year as it remains on track to deliver “significantly higher profits” in 2024.