Latest finance news – Page 141
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NewsAsda profits tumble as Covid costs bite
Asda has suffered a drop in full-year profits as costs incurred during the coronavirus crisis weighed on its bottom line.
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NewsMorrisons shareholders dismiss Covid efforts in massive pay rebellion at AGM
Morrisons investors have opposed the grocer’s pay report in large numbers at today’s AGM, prompting dismay at the grocer.
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NewsCard Factory slumps to loss as coronavirus batters sales
Card Factory has swung into the red after store closures during national lockdowns decimated its full-year sales.
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NewsZara owner Inditex reports sales above pre-pandemic levels
Fashion giant Inditex, owner of retailers including Zara, has reported strong quarterly sales growth and revenues have subsequently been ahead of pre-pandemic levels.
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NewsGetir triples valuation after latest $550m fundraising round
Turkish on demand delivery startup Getir has raised $550m in its latest fundraising round and tripled its valuation to $7.5bn as it reportedly eyes a stock market listing.
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NewsTesco faces £2.5bn bill after staff win equal pay dispute
Grocery giant Tesco is facing the prospect of a £2.5bn bill after the European Court of Justice backed thousands of current and former shopfloor workers in a mammoth equal pay lawsuit.
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NewsB&M profits more than double as sales climb in ‘exceptional’ year
B&M has delivered rocketing full-year profits and a surge in sales as boss Simon Arora says the retailer’s store network and value offer will hold it in good stead for strong trading post-lockdown.
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NewsEtsy buys Depop for $1.6bn in bid to attract Gen Z shoppers
Online marketplace Etsy has acquired resale platform Depop for £1.13bn.
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NewsWickes hails strength of showrooms as sales exceed expectations
Wickes has reported that it expects full-year profits to be at the top end of expectations as kitchen and bathroom orders boom.
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NewsKingfisher signs credit deal linked to sustainability targets
Kingfisher has announced a new revolving credit facility conditioned to its ambitious sustainable and community-based targets.
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NewsDebenhams’ Magasin du Nord sold to European fashion group
Magasin du Nord, the Danish department store business formerly owned by Debenhams, has been sold for an undisclosed sum.
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NewsDreams boss Mike Logue: ‘Tempur deal will take industry to next level’
Dreams chief executive Mike Logue said he’s looking forward to what the sale of the business to mattress specialist Tempur Sealy can bring to the table.
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NewsEG Group hails strength of foodservice business as first-quarter profits rise
EG Group has hailed the growth of its foodservice business after delivering increased profits in the first quarter.
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NewsPets at Home to invest £70m as it targets pet ‘baby boomers’
Pets at Home is targeting three key areas for investment as it seeks to take advantage of the new wave of pet owners.
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NewsDreams sold to Tempur Sealy in £340m deal
Bed specialists Dreams is set to be acquired by mattress and bedding manufacturer Tempur Sealy for £340m.
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NewsPets at Home profits rise as it eyes ‘strong momentum’ post-pandemic
Pets at Home has racked up an increase in sales and profits in what it dubbed “an extraordinary year” for the business.
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NewsAmazon acquires iconic Hollywood studio MGM for $8.45bn
Amazon has struck a deal to buy Hollywood institution MGM Studios as the tech titan expands its entertainment streaming business.
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NewsMarks & Spencer tumbles to full-year loss as it seeks to reshape business
Marks & Spencer has swung to a loss for the year, as it works to make good on the “Never the Same Again” promise.
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NewsWilko profits tumble as sales fall in year of ‘difficult trading’
Wilko has reported a sharp fall in full year pre-tax profits and a decline in sales, citing the challenging retail landscape as the reason for “a year of modest results”, Retail Week can reveal.
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NewsTed Baker refinances as bankers show ‘ongoing support’
Fashion retailer Ted Baker has successfully completed a refinancing with its lenders.