Latest finance news – Page 7
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Chancellor met Shein boss over potential London IPO
Chancellor Jeremy Hunt held talks with Shein boss Donald Tang to try to persuade the Chinese fast-fashion giant to float on the London Stock Exchange.
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Currys rejects second takeover proposal from Elliott Advisors
Currys has rejected a second takeover proposal from US investment firm Elliott Advisors because its increased offer still undervalues the company.
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Grocery inflation falls to lowest levels in nearly two years
Grocery price inflation fell to 5.3% in February, the lowest rate seen since March 2022, although value remains a priority for shoppers.
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Homebase owner sounds out The Range and B&M over potential sale
Homebase could soon be sold since its owner has held talks with a number of potential buyers.
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Next approaches administrator in potential deal for Body Shop assets
Next has contacted the administrator in charge of The Body Shop, FRP Advisory, about a potential deal to acquire certain assets of the embattled retailer.
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Gymshark announces new premium athleisurewear range
Gymshark posted a rise in sales for the full year ending July 2023, which the retailer said was “underpinned by the relevance and quality of our product” and “the resonance of our brand”.
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Secret Sales hails ‘exceptional’ year
Premium non-full-price marketplace Secret Sales has posted an “exceptional” year of growth and confirmed plans to ramp up its expansion strategy in 2024.
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Walmart posts ‘strong’ sales growth driven by omnichannel model
US retail giant Walmart has reported “strong” revenue growth in its fourth quarter as consumers shopped both in-store and online and ecommerce sales surpassed $1bn (£790m).
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Largest Currys shareholder warns of ‘problem’ in UK equity market
Currys’ largest shareholder Redwheel has supported the board’s decision to reject an initial offer from Elliott Advisors and said the offer “highlighted a wider problem with the UK equity market”.
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The Body Shop UK store closures begin as administrators take charge
The Body Shop is set to close approximately half of its UK stores and cut 40% of head office jobs as administrators announced a plan to restructure the business in the country.
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Superdry founder Dunkerton courts US investor to take brand private
Superdry founder Julian Dunkerton is understood to be assembling an offer for a US private investor to take the struggling brand private.
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Exclusive: Over 2,000 jobs at risk as The Body Shop’s European businesses left in limbo
The Body Shop’s businesses across continental Europe are in danger of collapsing, leaving the fate of thousands of jobs and hundreds of stores in multiple countries in the balance.
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Farfetch to cut up to 30% of workforce as Coupang takes over
Farfetch is set to cut up to 30% of its total workforce as global ecommerce retailer Coupang takes ownership, Drapers has reported.
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Currys rejects ‘significantly undervalued’ takeover proposal
Currys has rejected a takeover proposal by US investment firm and owner of Waterstones Elliott Advisors as it “significantly undervalued” the company.
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Mytheresa ‘outperforms’ as luxury fashion sales grow
Luxury fashion retailer Mytheresa has hailed its sales growth during the second quarter, despite falling profits, as it “outperformed almost all competitors” and the demand for luxury fashion goods edged up.
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Farfetch boss steps down amid Coupang takeover
Farfetch boss José Neves is set to step down from his role as chief executive at the luxury fashion retailer, according to reports.
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White Stuff owners consider sale following takeover approach
The owners of fashion retailer White Stuff are reportedly exploring a sale of the business after receiving surprise interest from a prospective buyer.
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AO saves 70 jobs through buying mobile phone retailer
Online electricals retailer AO has acquired some assets of the mobile phone retailer A1 Comms, saving 73 jobs in the process.
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Asda owners borrowed millions from EG Group to pay private jet loans
Asda owners Mohsin and Zuber Issa have borrowed millions of pounds from their EG Group petrol forecourt empire to pay down debts taken on buying two private jets.
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Food prices fall for first time in two years as inflation stalls
The annual rate of inflation was unchanged in January, despite the first monthly fall in food prices, according to the Office for National Statistics.