Latest finance news – Page 136
-
NewsMarks & Spencer profits to beat expectations following strong trading
Marks & Spencer expects full-year earnings to be better than anticipated after strong trading as its transformation plan bore fruit.
-
NewsMorrisons backs £7bn takeover offer from ex-Tesco boss Leahy and CD&R
Morrisons has recommended a £7bn offer from private equity giant Clayton, Dubilier & Rice (CD&R), which has trumped a rival bid from Fortress.
-
NewsJohn Lewis builds offer beyond retail with ethical financial products
John Lewis Partnership has entered the retail investment market for the first time as it seeks to generate more profits from outside traditional retail.
-
NewsWalmart raises outlook as second-quarter sales surge
American giant Walmart has increased its full-year outlook for the second time this year as sales surged in the second quarter despite the effects of the Delta strain on consumer confidence.
-
NewsMcColl’s warns of profit headwinds as its seeks to raise capital
McColl’s has said it may struggle to meet management expectations for the full year if availability issues continue into the second half.
-
NewsAdidas sells Reebok to Authentic Brands Group for $2.5bn
Adidas will sell the Reebok brand to American brand development, marketing and entertainment company Authentic Brands Group (ABG) following a decision earlier this year to focus on its core brand.
-
NewsDeliveroo growth beats expectations as it raids Amazon for senior hire
Food delivery specialist Deliveroo has reported growth “materially ahead of expectations” in its first half, when performance proved resilient as Covid restrictions eased.
-
NewsWatches of Switzerland revenues double as demand outpaces supply
Watches of Switzerland has hailed “strong” growth across its UK and US markets during the first quarter of its financial year.
-
NewsDeliveroo shares soar as German rival Delivery Hero gobbles up stake
German online food delivery giant Delivery Hero has snapped up a stake in Deliveroo, sending the share price of its UK rival soaring.
-
NewsMcColl’s considers fresh equity raise to drive Morrisons c-store expansion
Convenience chain and Morrisons wholesale partner McColl’s is exploring an equity raise to drive the expansion of its Morrisons Daily store format.
-
NewsMorrisons suitor CD&R mulls counteroffer as bid deadline extended
Morrisons bidder CD&R is considering an increased offer for the supermarket chain after rival suitor Fortress raised its bid last week.
-
NewsFortress increases bid for Morrisons to £6.7bn
The consortium led by US private equity firm Fortress has increased its offer for Morrisons in a bid to fend off rival suitors.
-
NewsAsda boss Roger Burnley steps down with immediate effect
Asda boss Roger Burnley has left the grocer with immediate effect, months before he had initially been due to step down – and with no successor in place.
-
NewsAdidas increases full-year outlook as pandemic recovery kicks off
Adidas has raised its full-year outlook as revenues in the EMEA and North American markets almost doubled in the brand’s second quarter following a challenging pandemic period.
-
NewsMike Ashley to step down as Frasers boss as profits tumble
Retail tycoon Mike Ashley has confirmed his intention to pass the mantle of chief executive to Michael Murray in the next financial year.
-
NewsExclusive: ISawItFirst makes top hire ahead of potential IPO
Fast-growing etailer ISawItFirst has hired former Matalan deputy chief executive Greg Pateras, who is understood to be gearing the business up for a stock market flotation.
-
NewsThe Hut Group snaps up Cult Beauty in £275m deal
The Hut Group has acquired online beauty marketplace Cult Beauty for £275m and raised its full-year sales outlook as a result.
-
NewsNew Look back in the black following CVA
New Look has returned to profit despite the impacts of the pandemic on physical stores.
-
NewsSweaty Betty acquired by US firm Wolverine in $410m deal
Sweaty Betty has been purchased by US footwear manufacturer Wolverine Worldwide and will join the company’s portfolio of footwear and lifestyle brands, including Hush Puppies and Keds.
-
NewsJoules posts profit rise as ecommerce growth offsets store closures
Fashion retailer Joules has reported an increase in full-year profits, despite the closure of its store estate during Covid lockdowns.