Latest finance news – Page 124
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NewsMorrisons finance boss Gleeson departs following takeover
Morrisons chief financial officer Michael Gleeson is stepping down from the business following its takeover by US private equity firm Clayton, Dubilier & Rice (CD&R).
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NewsLush stores remain open in Russia as Uniqlo U-turns and suspends operations
Lush stores will continue to operate under a longstanding franchise partner with a Russian licensee, despite the ethical retailer halting supplies and online sales in the country.
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NewsM&S boss Rowe steps down as Machin and Bickerstaffe take reins
Marks & Spencer chief executive Steve Rowe is stepping down from the business after six years and will be replaced in the top job by food boss Stuart Machin.
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NewsBoohoo sales rise as international business returns to growth
Boohoo has reported an uptick in sales, just days after Sir Brian Leveson made his final report to the board concerning the retailer’s supply chain overhaul.
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NewsJohn Lewis restores staff bonus and ups pay as turnaround strategy gathers pace
John Lewis has reinstated its staff bonus package after the business delivered rising sales and profits this year.
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NewsGreggs boss Whiteside refuses to rule out price rises as inflation deepens
Greggs boss Roger Whiteside has said it would be “irresponsible” to rule out further price rises on products and warned inflation could hit 6% or 7% this year as ingredients and energy prices skyrocket.
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NewsD2C butcher Farmison eyes growth as investor snaps up stake
Online butcher Farmison & Co intends to accelerate growth after investor Inverleith acquired a majority stake in the business.
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NewsExclusive: M&S makes strategic investment in activewear platform The Sports Edit
Marks & Spencer has bought into activewear platform The Sports Edit as it builds its digital operations and strengthens its presence in the fast-growing category.
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NewsMade.com losses widen amid ongoing supply chain challenges
Made.com’s losses widened as the furniture retailer reported in its full-year results that it was “adversely affected by industry-wide global freight inflation and supply chain disruption”.
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NewsHotel Chocolat on a high as profits outstrip sales growth
Hotel Chocolat has hailed another strong trading period for the business despite wider inflationary pressures as profit grew faster than sales growth.
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NewsWaterstones acquires independent bookseller Blackwell’s
Waterstones has snapped up Blackwell’s, the UK’s largest independent bookseller, for an undisclosed sum.
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NewsZalando delivers ‘faster than expected’ sales growth
Zalando has posted strong full-year sales and profit growth, fuelled by a rapidly expanding customer base and membership scheme.
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NewsPrimark places bet on bumper summer and sets date for revamped website
Primark has recorded an uptick in sales of summer holiday gear as consumers gear up for a restriction-free season.
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NewsMcColl’s hopes for cash or buyer as profits come under pressure
Convenience store group McColl’s maintained it is optimistic about finding a “financing solution” to its problems following speculation that it was battling to stave off administration.
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NewsPrimark sales rocket as lockdown fades into past
Sales at value fashion giant Primark surged 60% year on year in its first half – when stores remained open, in contrast to Covid closures the previous year.
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NewsAshley slams ‘unfit for purpose’ UK corporate governance after Studio acquisition
Frasers Group boss Mike Ashley has lashed out at both the previous management of Studio and the UK’s corporate governance regime after saving the floundering fashion retailer.
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NewsFarfetch records full-year sales surge and profit growth
Farfetch chief executive José Neves hailed the luxury fashion etailer’s “strong momentum” as the business delivered strong fourth-quarter and full-year sales growth.
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NewsLondon businesses unveil multibillion West End regeneration plan
The Heart of London Business Alliance (HOLBA) has unveiled its West End 2027 plan to rejuvenate the capital’s premier shopping district.
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NewsUpdated: Frasers buys Studio Retail out of administration
Mike Ashley’s Frasers Group has bought Studio Retail out of administration for £26.8m, saving 1,500 jobs.
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NewsStudio formally calls in administrators following cash call crisis
Online retailer Studio has formally drafted in administrators after signalling the likelihood of collapse earlier this month.