Latest finance news – Page 138
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NewsNext to repay business rates relief after sales surge
Fashion giant Next has increased its profit guidance for the financial year, with sales and profits “materially ahead” of expectations following a strong trading performance.
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NewsExclusive: Notonthehighstreet exec leaves to join private equity firm
Ella d’Amato has left her role as the chief commercial and marketing officer at online marketplace Notonthehighstreet to join consumer-focused investment and innovation firm True.
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NewsApollo may team up with Fortress for Morrisons deal
Private equity group Apollo will not make a bid for Morrisons on its own, but may swing behind Fortress’s recommended offer.
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NewsSosandar cuts losses as sales climb
Online womenswear retailer Sosandar has reported a strong start to its new financial year following reduced losses and a rise in sales.
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NewsThe Works emerges stronger after ‘intensely challenging year’
Arts and crafts specialist The Works has reported that it is well positioned for the future after navigating the challenges of the pandemic.
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NewsBurberry posts ‘strong’ first quarter sales uplift against pre-pandemic levels
Burberry has reported an “excellent start” to its new financial year as full-price sales growth accelerated against its pre-pandemic performance.
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NewsHobbycraft sales slump following lockdown store closures
Hobbycraft sales and profits slumped due to coronavirus-related store closures, although trading has improved since April reopening.
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NewsHammerson latest landlord to halt rent concessions
Hammerson has followed the lead of fellow institutional landlord British Land by putting a stop to offering rent concessions to struggling occupants.
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NewsAsos sales rise despite demand ‘volatility’
Asos has posted an increase in third-quarter sales but cautioned that “volatile demand” and supply chain pressures are likely to persist during the coronavirus crisis.
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NewsKingfisher raises profit guidance as sales surge across Europe
Kingfisher has upgraded its profit guidance after sales powered ahead of pre-Covid levels across its international markets.
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NewsDunelm boosts profit forecast in wake of homewares boom
Dunelm has raised its profit guidance after a stellar fourth quarter.
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NewsBoohoo partners with Alshaya to grow Debenhams in the Middle East
Boohoo has made a move into bricks-and-mortar stores after signing an exclusive deal with Middle Eastern operator Alshaya group.
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NewsSuperdrug profits plummet despite essential retailer status
Superdrug reported plunging profits and sales for the year, despite its stores remaining open throughout lockdown.
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NewsWalmart-backed Flipkart raises $3.6bn to power growth
Indian online retail powerhouse Flipkart has completed a $3.6bn (£2.6bn) fundraising to ”accelerate the growth of the consumer internet ecosystem in India”.
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NewsHotel Chocolat profits to beat expectations as sales climb
Specialist retailer Hotel Chocolat’s full-year earnings will exceed expectations after annual sales rose strongly.
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NewsOnline marketplace OnBuy sets sights on growth as it raises £35m in funding
The UK-based online marketplace OnBuy has raised £35m in series A funding through a combination of venture capital and strategic technology investors.
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NewsMorrisons reassures anxious farmers over Fortress takeover
Morrisons has written to farmers to insist that its prospective new owners will protect the grocer’s character and relationship with suppliers.
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NewsMorrisons chief Potts to meet Kwarteng next week over takeover plans
Morrisons chief executive David Potts is expected to meet business secretary Kwasi Kwarteng next week to brief him on the potential takeover of the grocer by private investment group Fortress.
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NewsB&M sales slow as boss indicates ‘uncertainty’ around consumer spending
B&M’s sales have dipped in the first quarter of the value retailer’s current financial year following exceptionally strong trading during the pandemic.
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NewsTina Green receives £50m payout from Topshop administrators
Tina Green has been handed £50m by administrators from the remains of her husband’s Arcadia empire.