Latest finance news – Page 112
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NewsRetail welcomes return of tax-free shopping despite bitter rates disappointment
Representatives of the sector have welcomed the reinstatement of tax-free shopping for tourists as a boost for UK retail’s competitiveness in a bleak economic climate.
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NewsMade.com and Revolution Beauty sound alarm over trading and financing
Embattled retailers Made.com and Revolution Beauty have raised further alarm bells over their financing and current trading as both businesses battle to secure their futures.
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NewsJD Sports rides out turmoil to post profits at top end of expectations
JD Sports has reported a fall in first-half profits, which nevertheless came in at the top end of management expectations after a period of upheaval.
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NewsMoonpig goes back to basics to navigate cost of living crisis
Moonpig has said it will focus on greeting cards and has left its full year guidance unchanged as it seeks to navigate the current cost of living crisis.
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NewsMike Ashley to step away from Frasers at next AGM
Frasers Group has said founder Mike Ashley will not seek re-election as a director at its next annual general meeting and will be stepping away from the business.
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NewsKingfisher guidance unchanged despite profits and sales slump
Home and DIY giant Kingfisher has insisted that its full year guidance remains unchaged despite profits and sales falling in the first half.
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NewsTroubled Naked Wines parachutes founder Gormley in as adviser
Naked Wines has appointed founder Rowan Gormley, former chief executive and still a “material” shareholder, as a board adviser as it reviews its business.
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NewsJohn Lewis unveils one-off cost-of-living payment as losses widen
The John Lewis Partnership has authorised a one-off cost-of-living payment bonus and free food over the winter for staff as its losses deepen.
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NewsDFS profits plummet as supply chain issues and inflation take toll
DFS profits have plummeted as the retailer blamed supply chain issues, double-digit inflation and staff shortages for the slump.
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NewsWickes profits slip but full-year guidance remains unchanged
Wickes adjusted profits have slipped despite a marginal increase in sales, although the retailer’s full-year guidance remains unchanged.
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NewsTHG appoints new non-executive directors as losses deepen
THG has drafted in new non-executive directors (NEDs) to improve its ongoing corporate governance issues as its operating losses widened and its profits more than halved.
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NewsInditex sales reach ‘historic high’ as it expands store estate worldwide
Inditex, the owner of brands including Zara, has registered record sales with positive numbers across all countries in which it operates.
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NewsDunelm pledges to ‘make every pound count’ as profits and sales climb
Dunelm has recorded an uplift in both profits and sales, gaining market share from homewares competitors.
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NewsNext pulls out of Joules takeover talks as founder Tom Joule returns
Joules has confirmed that discussions with Next to take an equity stake in its business have come to an end.
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NewsSainsbury’s ploughs £20m into ‘unprecedented’ autumn pay rise as cost of living mounts
Sainsbury’s is putting £20m into a fresh pay rise for staff “to support them with rising household costs”.
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NewsHotel Chocolat closes US website as it pulls out of country to focus on UK
Hotel Chocolat has closed its US website months after closing stores in the region to focus instead on its home market
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NewsReiss swings into the black with record profits and sales
Reiss has reported record sales and profits for the year to January 2022, despite its stores being closed for the first 10 weeks of the year
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NewsWilko moves to monthly rent payments to manage cash flow
Wilko has shifted to monthly rental payments in a bid to conserve cash heading into the crucial golden quarter.
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NewsMorrisons eyes ‘swift conclusion’ to McColl’s acquisition following CMA investigation
Morrisons has welcomed the Competition and Markets Authority (CMA) finding that only a small number of local areas could face competition concerns from its acquisition of former convenience store chain McColl’s.
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NewsPrimark sales spike as it readies click-and-collect Christmas launch
Primark parent Associated British Foods (ABF) said the fashion operator’s full-year UK sales would approach pre-Covid levels in a pre-close update