Latest finance news – Page 116
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NewsMorrisons faces CMA probe into McColl’s rescue bid
The UK’s competition watchdog has launched an investigation into the takeover bid for convenience specialist McColl’s by supermarket giant Morrisons.
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NewsNine in 10 UK retail chairs expect consumer spending to fall over next year
Ninety-five per cent of UK retail chairs forecast a drop in shopper spending over the next year, as Boots’ parent company chair Stefano Pessina said the UK would likely have a “bigger” recession than other EU countries.
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NewsSosandar narrows losses as ‘normal trading conditions’ return
Sosandar has narrowed its full-year losses and hailed the return of “normal trading conditions” following the impact of the coronavirus pandemic.
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NewsUK on verge of dairy shortages warns Lurpak owner
The UK is facing the prospect of a shortage of dairy products as a lack of workers has forced farmers to slash production, the country’s biggest milk and butter producer has warned.
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NewsJoules drafts in KPMG for help as cost-of-living crisis bites
Joules has drafted in advisors from KPMG to help improve profitability, cash flow and liquidity as the cost of living crisis has leached away consumer demand.
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NewsApple’s UK stores paid only £800,000 in tax despite surging sales
Apple’s retail division paid just under £800,000 to HMRC, after utilising a stock option scheme loophole to minimise its tax burden.
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NewsJD Sports appoints Andrew Higginson as new chair
Fashion giant JD Sports has announced the appointment of former Morrisons non-executive Andrew Higginson as the new chair of the group.
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NewsWatches of Switzerland hails ‘strong momentum’ as profits surge
Watches of Switzerland has clocked up a surge in profits and insisted it has built “strong momentum” as it bounces back from the coronavirus crisis.
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NewsCurrys posts rise in profit but warns of ‘uncertain’ outlook
Currys has posted an increase in full-year earnings but cautioned that “the outlook for consumer spending is uncertain” as the cost-of-living crisis mounts.
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NewsAO launches £40m share placing after insurer cuts cover
Pureplay electricals giant AO is aiming to raise £40m through a share placing weeks after its credit insurance for suppliers was cut.
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NewsM&S defends Rowe bonus in face of significant investor revolt
Marks & Spencer has defended its stance on director remuneration – including that of departing chief executive Steve Rowe – after a substantial proportion of investors opposed the package.
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NewsSainsbury’s reports sales drop as finance chief steps down
Sainsbury’s has posted a fall in first-quarter sales and named a new chief financial officer to replace Kevin O’Byrne.
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NewsAO shares plummet as insurer cuts cover
Questions have been raised over AO’s finances after its credit insurer reduced its cover.
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NewsPret a Manger sales soar boosted by regional store growth
Pret a Manger has recorded soaring sales, beating its ambitions to double the business over the next five years.
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NewsPret a Manger strikes deal with Reliance to expand into India
Pret a Manger has joined forces with Reliance Industries to expand into India.
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NewsBoots revenues rise across the board as Walgreens axes sale plans
Boots has posted a rise in sales across all categories, driven by market share gains in beauty.
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NewsHilco acquires fashion retailer Cath Kidston
Investor Hilco is understood to have acquired fashion retailer Cath Kidston, famous for its distinctive design.
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NewsFrasers snaps up stake in fashion marketplace MySale
Frasers has bought a 28.7% stake in Australia-based fashion marketplace MySale, which it said would help it clear end-of-line stock.
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NewsH&M boss Helmersson names three key investment areas
H&M profits and sales beat expectations as the retailer achieved more full-price sales.
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NewsMorrisons blames ‘very challenging’ trading environment for sales drop
Supermarket giant Morrisons has blamed surging inflation and subdued customer sentiment for a drop in second-quarter sales.