Latest finance news – Page 160
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NewsSosandar interim sales jump despite ‘challenging’ environment
Sosandar has recorded a surge in sales at the half-year mark as the brand snaps up “significant market share” from its fashion rivals.
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NewsTesco poaches Tate & Lyle CFO as half-year profits and sales climb
Tesco has snapped up Tate & Lyle finance chief Imran Nawaz and reported a strong uplift in interim profits driven by shoppers flocking online during the pandemic and choosing to stock up with bigger shops less often.
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NewsIkea boss bets on store resurgence despite full-year sales dip
Ikea has reported a decline in full-year sales but group boss Jesper Brodin hailed the home and DIY retailer’s resilience and adaptability during the pandemic.
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NewsHolland & Barrett boss Tony Buffin to depart in reward dispute
Holland & Barrett chief executive Tony Buffin is to quit the retailer little more than a year after being appointed, Retail Week understands.
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NewsClarks launches CVA in bid to close stores as part of rescue deal
Footwear specialist Clarks has launched a CVA in a bid to shutter stores and secure a much needed cash injection from outside investors.
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NewsDecathlon plans more UK stores as sales climb
Sporting goods giant Decathlon has reported a rise in annual sales in the UK and plans to open more stores here this year and next.
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NewsWagamama owner The Restaurant Group swings to loss
The owner of high street restaurant chains Wagamama and Frankie & Benny’s has swung to a half-year loss after being “severely impacted” by the coronavirus crisis.
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NewsWatches of Switzerland increases profit guidance as sales surge
Watches of Switzerland has increased its full-year profit guidance following “stronger than expected” sales performance during its second quarter.
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NewsAnn Summers CVA ‘likely’ as landlord talks stall
Ann Summers has kicked off talks with the British Property Federation (BPF) that will likely lead to the launch of a CVA after failing to negotiate better rental terms with some landlords.
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NewsMulberry losses deepen due to Covid-19
Struggling global handbag and accessories retailer Mulberry has seen its losses deepen due to the ongoing effects of the coronavirus on sales.
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NewsDeliveroo drafts in Goldman Sachs as it eyes London float
Delivery app Deliveroo has drafted in investment bank Goldman Sachs to help guide it to a float on the London Stock Exchange.
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NewsIssa brothers’ Asda swoop ‘not a traditional private equity deal’
Asda’s chief financial officer has said the £6.8bn sale of the retailer is “not a traditional private equity deal” as the billionaire Issa brothers reflect the grocer’s values and long-term strategic aims.
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NewsWalmart completes sale of Asda to Issa brothers for £6.8bn
Walmart has completed the sale of UK grocery chain Asda to global convenience and forecourts retail business co-founders the Issa brothers for £6.8bn.
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NewsClarks pension trustees draft in advisors to secure fresh investment
The pension trustees of shoe specialist Clarks have drafted in advisers in a bid to bring fresh investment into the struggling retailer which has been battered by the effects of the coronavirus.
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NewsH&M returns to profit as it looks to emerge ‘stronger’ post-Covid
H&M has reported a profit in its third quarter, as chief executive Helena Helmersson believes “the worst is behind us”.
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NewsKingfisher offloads Russian Castorama chain for £73m
Kingfisher has sold its Castorama division in Russia to domestic chain Maxidom in a £73m deal.
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NewsGoogle and Pinterest up the ante to drive festive sales online
Google and Pinterest have launched respective innovations on their platforms in a bid to drive retail sales online during the Golden Quarter.
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NewsHalfords raises profit expectations as sales surge
Halfords has upped its profit expectations for the half-year mark but stresses that economic uncertainty may hamper its second-half performance.
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NewsLandlords mull legal action against retailers as rent slumps to new lows
Landlords are considering taking action against “well capitalised” retail businesses refusing to pay rents under the cover of the government’s moratorium, as takings for yesterday’s September quarterly rent day slid to just 12.7%.
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NewsThe Hut Group snaps up Perricone MD in $60m deal
The Hut Group has bolstered its beauty portfolio with the acquisition of luxury skincare brand Perricone MD.