Latest finance news – Page 147
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NewsBudget: Business rates holiday extended and new recovery grants revealed
Chancellor Rishi Sunak has extended the business rates holiday for a further three months and will offer non-essential retailers new recovery grants of up to £6,000 per store.
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NewsChancellor to extend furlough scheme until September
The chancellor is expected to use today’s Budget to extend the furlough scheme through to the end of September.
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NewsMorrisons snaps up Cornish seafood supplier for undisclosed sum
Morrisons has become the first UK grocer to own a fishing boat after acquiring its longstanding seafood supplier Falfish.
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NewsVirgin Wines makes stock market debut after successful float
Virgin Wines will begin trading on the London Stock Exchange’s junior AIM market at 8am today following a £110m valuation.
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NewsHalfords to repay furlough cash as cycling sales soar
Halfords is set to pay back its furlough payments in full as trading so far this year has been “stronger than initially anticipated across the business”.
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NewsIn The Style announces intention to float on AIM
Fashion etailer In The Style is set to float on the AIM market of the London Stock Exchange.
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NewsFarfetch records first profit after 12 years
Farfetch has achieved its first-ever positive EBITDA despite a tough year for fashion retailers.
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NewsPets at Home ups profit guidance again after strong fourth quarter
Pets at Home has upped its profit guidance for the second time in under two months, hailing continued strong trading in the fourth quarter of its current financial year.
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NewsPrimark loses £1.1bn in sales due to lockdowns
Primark estimates that non-essential retail closures across its global store estate cost the business £1.1bn in lost sales in the first half of its financial year, but expects the period after lockdown ends to be “highly cash generative”.
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NewsIkea full-year sales fall cushioned by strong online growth
Ikea has reported a decline in full-year sales across its UK business, but boss Peter Jelkeby praised the retailer’s accelerated transformation.
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NewsOnline retailers launch new trade body to champion ecomm cause
Big-name pureplay retailers have formed an industry association to highlight their contribution to UK success and fight their corner – including on tax.
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NewsWatch: Asos relaunches Topshop and Topman with denim push
Asos has relaunched its newly purchased Topshop and Topman brands with a two-week social media campaign.
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NewsM&S boss Rowe hits out at ‘unbearable’ business rates burden
Marks & Spencer boss Steve Rowe has warned that the “unbearable yoke” of business rates will spark thousands more job losses unless the tax is overhauled by the government.
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NewsPoundland parent Pepco’s profits drop as it ramps up European expansion
Poundland’s owner Pepco Group has reported an uplift in full-year sales as it plans to open 400 new stores per year.
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NewsNext boss calls for business rates reform as Sunak delays government review
Next boss Lord Wolfson has called for business rates on high street stores to be slashed by a third to stem the tide of store closures.
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NewsConsumer confidence boosted in February as vaccine rollout continues
Consumer confidence jumped in February as the UK looks forward to a post-pandemic future.
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NewsAsda sales rise as customers trade up over Christmas
Asda has reported that customers trading up and treating themselves over Christmas led to strong sales upticks in its fourth quarter.
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NewsMoonpig set to double full-year sales after ‘strongest ever’ Valentine’s Day
Moonpig reported the strongest week of trading in its history in the run up to Valentine’s Day.
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NewsAdidas set to sell off Reebok to bolster growth ambitions
Adidas has confirmed plans to offload Reebok as part of its five-year strategy to focus on strengthening its core brand.
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NewsRetailer anger follows call with ‘rude’ business secretary Kwarteng
Retailers’ relations with new business secretary Kwasi Kwarteng have got off to a rocky start after a bad-tempered call this week.