Latest finance news – Page 115
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NewsHotel Chocolat’s Japan venture reaches melting point
Hotel Chocolat’s Japanese joint venture has entered into “civil rehabilitation”.
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NewsFrasers adds I Saw It First to fast fashion roster
Frasers Group has acquired fast fashion brand I Saw It First.
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NewsMusic Magpie is ‘recession-resistant’, says boss Steve Oliver
Music Magpie founder and chief executive Steve Oliver believes the business is well suited to weather the current economic storm.
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NewsTHG and Softbank scrap $1.6bn investment deal
A call option agreement for a division of Japanese investment titan Softbank to acquire a $1.6bn (£1.3bn) stake in THG’s Ingenuity division has been terminated.
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NewsWickes downgrades profit expectations as cost-of-living crisis bites
Wickes has blamed a softer outlook in some of its key markets and the uncertain macroeconomic outlook after it downgraded its profit expectations for the year
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NewsJD Sports confident of delivering record profit and sales
JD Sports has said it expects to deliver a second straight year of record profits and revenues despite the ongoing cost-of-living crisis ahead of its AGM later today
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NewsTransitional relief will cost retailers £1bn as Frasers boss calls for ‘hard and deep’ cuts
The British Retail Consortium has warned transitional relief could cost retail £1bn over the next three years, as Frasers boss Michael Murray called for drastic government action.
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NewsM&S buys logistics provider Gist for £145m to accelerate transformation
Marks & Spencer has purchased logistics provider Gist as it bids to take control of its end-to-end food supply chain
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NewsDunelm names Whitbread boss Brittain new chair as sales rise
Dunelm has named Whitbread boss Alison Brittain as its new chair as it posted an increase in full-year sales.
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NewsOcado losses widen as retail sales slide in ‘challenging’ market
Ocado has suffered widening half-year losses as sales made through its retail business slipped in what it called a “challenging” UK market.
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NewsFrasers posts surge in profits and increases earnings guidance
Frasers Group has recorded a spike in full-year profits and upped its earnings guidance for its current financial year.
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NewsAO pulls plug on Tesco shop-in-shop partnership
AO has ended its in-store tie-up with Tesco, closing its shop-in-shops after almost two years.
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NewsJoules upgrades profit forecast and extends borrowing facility
Joules has said its profits will be slightly ahead of expectations for the year and has secured an extension of its credit facility.
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NewsIn The Style edges to a loss despite strong sales growth
In The Style fell into the red with its first full-year results as a listed company, as boss Sam Perkins warned that the year ahead would be “a challenging one for consumers and retailers” and lead to widening losses.
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NewsMade.com and Hotel Chocolat issue profit warnings
Made.com and Hotel Chocolat have both issued warnings over their profits, with the furniture retailer citing supply chain costs and low consumer confidence while the confectionary business plans a transitional year to focus on its most profitable markets.
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NewsNext underpaid staff for months after IT problems
Next has apologised to staff after the botched integration of new IT systems caused swathes of its workforce to be underpaid for months.
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NewsDeliveroo slashes sales forecasts as ‘consumer headwinds’ hinder growth
Deliveroo has slashed its full-year sales forecast as “increased consumer headwinds” slam the brakes on growth.
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NewsBurberry sales rise as domestic spend surpasses pre-pandemic levels
Burberry has posted a modest uplift in first-quarter sales as a decline in revenues in mainland China was offset by demand from shoppers across Europe, the Middle East, India and Africa.
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NewsPoundland owner Pepco’s sales soar as it increases store expansion plans
Pepco has upped its store expansion goals for the year to drive further growth.
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NewsDr Martens sales rise driven by wholesale and retail recovery
Dr Martens has recorded strong sales in the first quarter as its business continued to recover in all areas post-pandemic.