Latest finance news – Page 49
-
NewsThe Body Shop has been rescued
More than 100 Body Shop stores have been rescued from shuttering after a rescue deal was struck for the struggling chain.
-
NewsAsos rejected a higher bid for Topshop from Shein and ABG
Asos sold its 75% stake in the Topshop and Topman brands to Heartland for £135m despite receiving a higher offer from fast-fashion juggernaut Shein and Authentic Brands Group (ABG).
-
NewsThe Body Shop buyer has lined up working capital deal
The expected purchaser of The Body Shop is in advanced discussions to secure new financing as a deal nears.
-
NewsConvenience store giant rejects $38bn takeover bid
The owner of c-store powerhouse 7-Eleven has spurned a $38bn takeover bid, but said it is open to further discussions.
-
NewsAsos has sold a majority stake in Topshop and Topman brands
Online fashion giant Asos has today announced a new joint venture with Heartland, the holding company of Danish fashion retailer Bestseller, to sell a majority stake in the Topshop and Topman brands.
-
NewsCurrys has hailed a ‘positive start to the year’ as sales rise
Electricals giant Currys has hailed a “positive start to the year” and said it is “well set” for the pending peak trading period as sales at the electricals giant increased.
-
NewsPrimark has maintained its guidance despite unseasonable summer weather taking toll
Fashion giant Primark has maintained its full-year guidance despite the unseasonable British summer taking its toll during the second half.
-
NewsWatches of Switzerland is on track for the full year thanks to UK market ‘stabilisation’
Watches of Switzerland has reported trading in line with expectations for the start of the financial year as the demand for luxury watches and jewellery in both the UK and US steadied.
-
NewsHarrods has seen its highest ever turnover as sales surge
Luxury department store Harrods has recorded its highest-ever turnover, driven by tourists coming back to London post-pandemic.
-
NewsMountain Warehouse snaps up US sports brand in $10m rescue deal
Outdoor specialist retailer Mountain Warehouse has bought US-based Eastern Mountain Sports (EMS) in a $10m (£7.6m) rescue deal.
-
NewsBirkenstock has reported a record quarter thanks to demand for ‘ugly’ clogs
German footwear retailer Birkenstock has reported a record third quarter thanks to increased demand across all regions.
-
NewsLululemon revenue and profits increase driven by boost in international sales
Lululemon has reported an increase in revenue and profit as international sales sprint ahead compared with sales in North America.
-
NewsDobbies likely to seek rent cuts as restructuring advisers drafted in
Garden centre group Dobbies is working on restructuring proposals that may lead to store closures and rent reductions.
-
NewsHomebase is poised to kick off talks with potential investors
DIY specialist Homebase is preparing to start discussions with potential new investors, Retail Week can reveal.
-
NewsSainsbury’s snaps up a raft of Homebase stores in a deal valued at £130m
Grocer Sainsbury’s is buying a raft of stores from DIY specialist Homebase as it seeks to extend its presence and “offer more food choice to more customers”.
-
NewsQuiz has posted losses and a decline in revenue
Fashion retailer Quiz has posted “disappointing” results, which it said reflect the impact of inflationary pressures on consumer spending.
-
NewsKurt Geiger has posted ‘record’ sales and a rise in profit
Kurt Geiger has posted “record” profits and handbag sales despite weaker demand in the wider luxury market.
-
NewsHobbycraft has been acquired by Modella Capital
Modella Capital, which has backed chains including Paperchase, Tie Rack and Ted Baker’s UK licensing partner No Ordinary Designer Label (NODL), has acquired arts and crafts retailer Hobbycraft.
-
NewsTemu group warns on ‘inevitable’ profit decline as results miss analyst expectations
Temu’s owner, PDD Holdings, has warned of an “inevitable” reduction in profitability as the group reports slow growth and rising competition.
-
NewsNaked Wines losses are deepening amid sales slump
Naked Wines has reported deepening statutory losses and a fall in sales as it confirmed the appointment of its new chief financial officer.