Latest finance news – Page 118
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NewsZalando amps up content creation with Highsnobiety acquisition
Fashion platform Zalando is aiming to boost its content skills with the acquisition of media group Highsnobiety.
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NewsMorrisons owners mulls £600m warehouse sale
The private equity owners of Morrisons are considering a sale of its food production arm as costs across the grocer bite.
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NewsProCook warns on profits as shoppers ‘tighten their belts’ amid cost-of-living crunch
ProCook has said sales and profits for its current financial year will be behind previous forecasts as shoppers face “exceptional pressures on discretionary spend”.
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NewsReliance and Apollo team up to lodge £5bn binding bid for Boots
Reliance Retail and Apollo are understood to have made a formal offer for Boots, which would allow current owner Walgreens to retain a significant minority stake.
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NewsPoundland parent’s sales and profits rise as UK shoppers rein in ‘essential’ spending
Poundland owner Pepco Group has said UK shoppers are “scaling back even on essential purchases” amid the cost-of-living crunch.
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NewsCD&R clears final hurdle for £7bn Morrisons acquisition
Clayton, Dubilier & Rice (CD&R) has been given the all-clear to complete its £7bn acquisition of Morrisons after the competition watchdog agreed to its offer to sell some petrol forecourts.
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NewsAO scraps German business following strategic review
Electrical goods etailer AO.com has taken the decision to close its German business after eight years of trading, following a strategic review into its performance.
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NewsZara owner Inditex posts sales and profit rise despite Ukraine war impact
Fashion giant Inditex, owner of Zara, has reported a suresulrge in sales and profits but booked a substantial provision for the costs of Russia’s invasion of Ukraine.
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NewsTed Baker sale in doubt as preferred bidder pulls plug on deal
The proposed sale of Ted Baker has been thrown into doubt after the board’s preferred bidder dramatically backed away from a deal.
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NewsDr Martens profits surge as it upgrades sales guidance
Dr Martens has posted a surge in profitability and upgraded sales guidance for its new financial year as its direct-to-consumer strategy drives performance.
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NewsShop prices soar in May but inflation to ‘get worse before it gets better’
Shop prices rose further in May as inflationary pressures took their toll on retailers’ margins.
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NewsB&M names new chief executive as profits come in flat
Value giant B&M has promoted chief financial officer Alex Russo to become chief executive and reported flat full-year profits.
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NewsMissguided tumbles into administration as rising costs bite
Missguided has called in administrators after failing to secure a buyer.
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NewsAuthentic Brands Group moves into pole position to buy Ted Baker
The US-based Authentic Brands Group has emerged as the frontrunner to win the battle for Ted Baker and is being advised by Bank of America on a £300m deal.
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NewsSainsbury’s commits to £500m price investment as customer concerns grow
Sainsbury’s chief executive has committed the grocery giant to invest a further £500m in lowering prices as customer concern over the cost-of-living crisis increases.
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NewsMissguided close to collapse after winding-up petition issued
Fashion etailer Missguided is on the edge of collapse after creditors filed a winding-up petition.
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NewsAsda sales slump against strong comparables as cost-of-living crunch bites
Asda has reported a slump in first-quarter sales against strong like-for-like comparables as the cost-of-living crunch begins to hit consumers.
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NewsMike Ashley’s Frasers Group takes $30m hit on sale of US businesses
Frasers Group has sold its two businesses in the US in a $70m (£55.7m) deal.
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NewsWickes hails ‘continued momentum’ despite dip in sales
Wickes has hailed a “promising start” to its financial year despite reporting a dip in sales.
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NewsJD Sports boss Cowgill steps down with immediate effect following governance review
JD Sports executive chair Peter Cowgill is to leave his post with immediate effect.