Latest finance news – Page 10
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Halfords maintains profit guidance after ‘resilient’ performance
Halfords has maintained its full-year profit guidance after a “resilient” third quarter in what the retailer said remains a “very challenging consumer environment”.
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Morrisons to sell petrol forecourts in £2.5bn deal
Grocery giant Morrisons is on the brink of sealing a £2.5bn deal with CD&R-owned Motor Fuel Group to sell its petrol forecourts.
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Boohoo shuffles top team as CFO Shaun McCabe steps down
Boohoo chief financial officer Shaun McCabe has stepped down from his role at the online fashion giant to be succeeded by Stephen Morana next month.
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Quiz posts dip in sales due to inflation
Quiz has posted a drop in sales over Christmas as the “negative impact” of inflationary pressures on consumers took its toll on the fashion retailer.
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Primark posts rise in sales over Christmas
Primark has posted a rise in sales across its UK, European and US markets despite a “slow start” to Christmas trading due to unseasonally warm weather.
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Exclusive: Business rates and tackling crime top BRC election wish list
The British Retail Consortium is calling on the UK’s political parties to ensure that business rates are made more sustainable and that retail crime becomes a standalone offence, as it gears up for the general election this year.
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Virgin Wines hails ‘good Christmas’ as sales and profitability jump
Virgin Wines has hailed a strong Christmas trading period, reporting increases in both total revenues and profitability and maintaining its full-year profit guidance.
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Birkenstock warns on profits despite ‘most successful’ year to date
German footwear retailer Birkenstock has warned that 2024 EBITDA margins are expected to see a “modest headwind” due to increased costs, despite posting booming sales and profits in its “most successful” year to date.
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Logistics giant Wincanton to go private in £560m mega deal
Wincanton is set to be snapped up by French shipping giant CMA CGM and delisted from the London Stock Exchange in a deal worth over £560m.
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DFS suffers weather hit to sales but confident in full-year guidance
Sofa giant DFS has reported a fall in demand but still expects to meet full-year earnings expectations.
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N Brown ‘confident’ in strategy despite dip in sales
Fashion group N Brown, which owns Simply Be, Jacamo and JD Williams, has said it is “confident” in its strategic direction for the year ahead, despite posting a dip in sales in its third quarter.
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Watches of Switzerland issues profit warning
Watches of Switzerland has issued a profit warning as shares plummeted by more than 25% this morning. In the run-up to Christmas, consumers opted to spend on fashion, beauty, travel and hospitality rather than luxury.
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JD Sports completes Polish acquisition
JD Sports has completed the acquisition of Poland-based footwear and clothing company Marketing Investment Group (MIG) as it strengthens its foothold in Central and Eastern Europe.
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Naked Wines sales slip as repeat customer base shrinks
Naked Wines said that constant currency sales were down over peak trading but are steadily improving, despite its average repeat customer base shrinking by 12%.
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Currys upgrades profit guidance despite sales slip
Currys expects full-year profits to exceed consensus expectations following a “successful peak trading period”.
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Dunelm holds firm on outlook despite surging sales
Dunelm has refused to nudge up full-year profit expectations despite hailing “strong sales growth” in the first half of the year.
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Pepco delivers record revenues as it warns on Red Sea disruption
Pepco Group, which owns Poundland in the UK and the Pepco and Dealz brands in Europe, has posted record first-quarter group revenues.
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Losses deepen at The Works as Christmas fails to deliver
The Works has reported deepening losses as cash-strapped customers prioritised food and essentials over gifts at Christmas.
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UK inflation rate increases to 4%
The annual rate of inflation has increased to 4% in a surprise rise, according to the Office for National Statistics (ONS).
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Mulberry sales decline as UK VAT hits luxury sector
Luxury fashion retailer Mulberry has posted a fall in sales which the group said was impacted by a “challenging macroeconomic backdrop” and a decline in luxury consumer spending.