Latest finance news – Page 126
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NewsVirgin Wines blames rising cost pressures as it issues profit warning
Virgin Wines has blamed a host of macroeconomic factors, including spiralling inflationary and other cost pressures, after issuing a profit warning.
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NewsWestminster Council to inject millions into reviving West End
Westminster Council has set aside funds to revitalise the West End area of London.
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NewsAnn Summers exits CVA as it swings back into black
Ann Summers has returned to profit as a result of its turnaround strategy, driven by strong online performance during the pandemic.
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NewsBoots owner Walgreens kicks off sale amid fresh approaches
Walgreens Boots Alliance is understood to have launched the sales process for Boots, which could be valued as highly as £7bn.
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NewsAsda pauses search for chief executive successor
Asda has temporarily halted its search for a new boss to succeed Roger Burnley, with co-owner Mohsin Issa understood to be overseeing day-to-day operations in the interim.
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NewsH&M profits rebound as it hails ‘strong’ pandemic recovery
H&M has posted a surge in full-year profits as it hailed a “strong recovery” from the peak of the coronavirus pandemic.
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NewsMorrisons takeover faces deeper CMA probe over petrol competition concerns
Morrisons’ takeover by US private equity giant Clayton, Dubilier & Rice (CD&R) will face further scrutiny by the competition watchdog amid fears over petrol prices.
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NewsAO to review German business as supply issues and marketing costs bite
AO has said it will explore options for its German arm as a number of issues impacted its revenues over the past nine months.
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NewsDr Martens hails ‘very strong’ golden quarter as DTC sales rise
Dr Martens has recorded an uplift in sales in the lead up to Christmas driven by its direct-to-consumer (DTC) business.
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NewsPets at Home Christmas sales climb as it heads for ‘record year’
Pets at Home sales increased across all its divisions across the golden quarter, as CEO Peter Pritchard says the retailer is “firmly on track” for a year of record sales and profit growth.
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NewsUS giant Walmart takes stake in vertical farming start-up Plenty
US retail giant Walmart has invested in vertical farming firm Plenty with plans to stock the start-up’s leafy green vegetables in all of its Californian stores.
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NewsFMCG giant Unilever set to slash thousands of jobs worldwide
Maker of Marmite and Dove soap Unilever is set to slash thousands of jobs around the world a week after its failed $50bn (£37bn) bid for the health division of a rival.
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NewsMorrisons kicks off search for new boss following CD&R takeover
Morrisons’ owners, private equity firm Clayton, Dubilier & Rice (CD&R) have launched a search for a new boss as current chief executive David Potts stated he would step down in about two years.
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NewsThe Works upgrades outlook as first half losses narrow
The Works has upgraded its EBITDA outlook for the 2022 financial year, after reporting narrowing losses in the first half of the year.
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NewsWHSmith shareholders revolt over executive bonuses
WHSmith has been hit by a shareholder revolt over plans to pay a £550,000 bonus to its chief executive Carl Cowling.
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NewsSuperdry swings to profit as it hails ‘signs of recovery’
Superdry has swung to a half-year profit and hailed “clear signs of brand and financial recovery” despite suffering a fall in sales.
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NewsPrimark posts festive sales gains but lags pre-pandemic levels
Primark has registered a spike in sales during the crucial Christmas trading period but lagged behind pre-pandemic levels.
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NewsIceland freezes prices on £1 value range to ease cost-of-living crunch
Iceland has vowed to freeze the price of more than 60 of its £1 value lines to ease the cost-of-living crunch piling pressure on its customers.
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NewsIn The Style and Burberry deliver festive sale upticks
Luxury fashion operator Burberry has delivered a rise in festive sales driven by full-price demand, while value etail operator In The Style has relied on discounting to bolster sales of delayed ranges over the Christmas period.
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NewsWHSmith Christmas sales slide as retailer eyes travel sales resurgence
WHSmith has recorded a fall in sales over the Christmas trading period but has stressed it does not expect the Omnicron variant to derail its travel sales recovery.