Latest finance news – Page 9
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Lloydspharmacy goes into liquidation
Lloydspharmacy has gone into liquidation with a debt of £293m still owed to creditors, according to documents filed by its liquidators on Companies House last week.
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Ikea sales boosted by soaring click-and-collect orders
Ikea has posted a full-year sales uplift as online sales and click-and-collect orders soar.
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Jollyes lands record-breaking Christmas as sales 'continue to fly'
Jollyes saw like-for-like sales spike in the crucial Christmas trading period, as shoppers chose to treat their pets despite financial pressures.
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Morrisons profits jump as it delivers sixth consecutive quarter of growth
Supermarket giant Morrisons has reported a jump in profits as it delivered its sixth consecutive quarter of like-for-like improvement.
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H&M names new chief executive and updates on performance
Fashion giant H&M has appointed a new chief executive and reported on its most recent full-year performance.
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John Lewis to return to profit this year, chair Sharon White reveals
John Lewis Partnership chair Dame Sharon White has said that the retailer will return to profit this year.
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Exclusive: The Body Shop sells parts of Europe and Asia business
The Body Shop will be selling “most of its business in mainland Europe and in parts of Asia” as it transforms under the new ownership of private equity firm Aurelius, Retail Week can reveal.
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Morrisons takes stake in MFG as it offloads petrol stations
Morrisons and Motor Fuel Group (MFG) have entered an agreement whereby the former will take a £2.5bn minor stake and the latter will acquire 337 of the grocer’s petrol stations.
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Pets at Home drops profit guidance as accessories sales slow
Pets at Home has reduced its full-year profit guidance, reporting sales “not at the level it had expected” as shoppers pulled back on discretionary accessories like beds, collars and leads for their pets.
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Asda auditor EY quits in latest blow to Issa brothers
Grocery giant Asda’s auditor EY reportedly resigned last year, despite the exit not being disclosed, in the latest blow to co-owners Mohsin and Zuber Issa.
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John Lewis plans 11,000 job cuts as it slashes redundancy pay
John Lewis Partnership is reportedly considering cutting up to 11,000 jobs over the next five years in its latest bid to return to profitability.
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LVMH profits and sales grow in ‘another historic year’ for Sephora
Luxury goods conglomerate LVMH reported a surge in sales and profits as beauty giant Sephora delivered an “exceptional performance” for the full year 2023.
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Farfetch investors worried over ‘value destruction’ from Coupang takeover
A group of investors behind Farfetch are concerned over the “value destruction” as a result of Coupang’s acquisition of the global ecommerce giant and have appointed advisers to evaluate their options.
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Superdry CFO steps down as it issues profit warning
Superdry reported a fall in sales and said it expects full-year profitability to be impacted as it blamed “a challenging consumer retail market” set against ”macroeconomic uncertainty and some remarkably unseasonal weather conditions” for its weakened financial performance.
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WHSmith sales soar driven by ‘strongest ever’ travel division
WHSmith posted growth in sales in the 20 weeks to January 26, 2024, as it achieved its “strongest ever position as a global travel retailer”.
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UK consumer confidence rises to best score in two years
UK consumer confidence rises to “best headline score in two years” as optimism strengthens with inflation predicted to fall in the next 12 months.
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The Fragrance Shop sales surge in 'exceptional' Christmas
The Fragrance Shop has posted a record-breaking Christmas as sales surged in the 13 weeks to December 31, 2023.
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Ikea slashes global carbon footprint as revenues surge
Ingka Group, the largest of Ikea’s retail brands, has slashed its carbon emissions by 12.7% year on year while delivering a 30.9% increase in revenue for the same period.
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Puma posts sales increase but warns of challenges ahead
Puma has reported a sales increase during the 2023 full year despite warning of the ongoing “geopolitical and macroeconomic challenges” likely to persist in 2024.
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Dr Martens sales dip in ‘volatile’ quarter
Dr Martens has reported a decline in sales due to “volatile” trading during the third quarter but has held firm on profit guidance for the year ahead.