Latest finance news – Page 109
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NewsMade.com suspends new orders as it teeters on brink after sale talks collapse
Made.com is teetering on the brink of administration after several potential suitors pulled out of rescue bids for the business.
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NewsVery profits rise as cost reductions offset falling sales
The Very Group has posted a rise in full-year profitability despite falling sales, as the etailer hailed the impact of “diligent cost management” in a “challenging market”.
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NewsTHG sales rise driven by growth in beauty and nutrition
THG revenues have risen year on year driven by strong performances in the beauty and nutrition categories, while its full-year profit guidance remains unchanged.
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NewsMike Ashley's Frasers Group builds 5% stake in Asos
Mike Ashley’s Frasers Group has built up a shareholding of more than 5% in online fashion operator Asos.
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NewsMatalan poised to fall into hands of lenders
Matalan’s lenders are preparing to take control of the business following the deadline for rescue bids last Friday.
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NewsMorrisons kicks off supermarket sale and leaseback plans
Morrisons has kick-started plans to sell off some of its supermarkets in a bid to raise cash during difficult economic conditions.
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NewsAuthentic Brands Group adds Ted Baker to European portfolio
US conglomerate Authentic Brands has completed the acquisition of Ted Baker.
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NewsWickes warns of spiralling energy bill as sales rise
Wickes has warned its energy bill is set to soar by £7.5m next year as it flagged the impact of “uncertainties” surrounding operating cost inflation and consumer confidence.
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NewsDeliveroo reduces sales expectations amid ‘ongoing economic uncertainty’
Deliveroo has cautioned that full-year sales growth will come in at the lower end of expectations as it grapples with “ongoing economic uncertainty”.
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NewsConsumer confidence enjoys meagre boost following mini-budget
Consumer confidence was boosted by former chancellor Kwasi Kwarteng’s mini-budget but remains in the doldrums as shoppers grapple with the “new abnormal”.
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NewsDunelm reports ‘robust’ trading despite sales fall
Homewares specialist Dunelm has posted a fall in quarterly sales but described trading as “robust” and maintained profit forecasts in the face of tough trading conditions.
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NewsExclusive: Wilko drafts in advisers as it eyes further cost-cutting measures
Wilko has drafted in advisory experts Teneo as it seeks to cut costs across the business in the face of the cost-of-living crisis.
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NewsConsumer price inflation peaks as food prices soar
Consumer prices soared in the 12 months to September, driven by rising food and beverage prices.
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NewsNew Asos boss lays out 12-month turnaround plan as it swings to loss
Asos swung into the red as it struggled against an “incredibly challenging economic environment”.
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NewsExclusive: Fenwick sales rise and losses slashed after weaning itself off ‘discounts drug’
Department store business Fenwick increased sales and cut losses last year as it turned pandemic challenges into opportunities by changing its business model.
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NewsFrasers’ MySale offer goes unconditional as share threshold crossed
Frasers Group’s offer for online retailer MySale has gone unconditional after passing the 50% control threshold.
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NewsThe Hut founder Moulding adds to stake as SoftBank bails out
Matt Moulding has increased his shareholding in THG – formerly The Hut – after investor SoftBank unloaded its shares at below the etailer’s IPO valuation.
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NewsBensons for Beds rescues Eve Sleep out of administration
Embattled mattress retailer Eve Sleep has been rescued out of administration by Bensons for Beds.
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NewsGovernment U-turn on VAT-free shopping is ‘hammer blow’ for UK retail
UK retail representative bodies have called the government’s decision to roll back promised VAT-free shopping a “hammer blow” for an industry still struggling to recover fully from the pandemic.
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NewsAsos in 'final stages' of agreeing new financial covenants to avert cash-flow crisis
Pureplay fashion retailer Asos is in the “final stages” of agreeing new financial covenants in its revolving credit facility, following media speculation that one of its major insurers had cut cover.