Latest finance news – Page 163
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NewsH&M posts ‘better than expected’ recovery
H&M has announced it expects a return to profit this year, as its finances begin to recover post-Covid.
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NewsNext seals deal for Victoria’s Secret UK business
Next has reportedly sealed a deal to snap up a majority stake in Victoria’s Secret’s struggling UK business.
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NewsNew Look future hangs in balance as property giants reject CVA
Two of New Look’s biggest landlords are poised to vote against its crunch CVA today in a move that will throw the fashion retailer’s survival into doubt.
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NewsBoohoo eyes New Look as crunch CVA vote looms
Boohoo is understood to be planning a swoop on New Look if its CVA is not voted through by landlords this week, with the fashion retailer warning it could collapse without rent cuts.
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NewsThe Hut Group aims to raise £1.9bn as it confirms IPO
The Hut Group has confirmed its intention to launch a £4.5bn stock market listing that would give the etail group a £5.4bn market capitalisation.
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NewsMorrisons boss Potts pledges further price cuts in run-up to Christmas
Morrisons chief executive David Potts has pledged that the grocer will make further price cuts in the run-up to Christmas as the effects of the recession continue to bite.
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NewsDixons Carphone revenues rise as online sales soar
Dixons Carphone has reported an uptick in sales amid the coronavirus pandemic, buoyed by a surge in its online business.
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NewsDunelm profits and sales slide despite homewares boom
Dunelm has posted a fall in full-year profits as store closures during the coronavirus crisis dented its sales.
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NewsMorrisons profits fall as Covid costs bite
Morrisons has suffered a drop in profits during its first half as it absorbed costs associated with weathering the coronavirus pandemic.
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NewsPhilip Day considers sale of Jaeger and Austin Reed
Edinburgh Woolen Mill boss and retail mogul Philip Day has brought in advisers to assess the sale of a number of his brands, after receiving unsolicited offers.
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NewsTiffany sues LVMH after it pulls out of $16bn takeover
The world’s largest luxury group LVMH is being sued by Tiffany after it said it was pulling out of its agreed $16.6bn takeover of the jeweller.
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NewsAmazon pays £293m in direct UK tax despite £13.7bn revenue
Amazon paid out £293m in “direct taxes” on its UK operations in 2019, despite the group’s UK revenue surging to £13.7bn that year.
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NewsBoden profits fall amid major investments in online and fulfillment
Boden reported a drop in profits for 2019, as it invested more in its online offerings and fulfilment capabilities, with a particular focus on the US.
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NewsNew Look: Fate lies with landlords as sale option shut off
The future of fashion retailer New Look now relies upon landlords after a sale process conducted in tandem with a CVA proposal failed to produce a deal.
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NewsQuiz wins better rental terms following stores administration
Fashion retailer Quiz has won more flexible leases after putting its stores business into administration to conduct a restructuring.
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NewsTravis Perkins profits fall following store closures
Travis Perkins has announced a decline in both profits and revenues after closing 165 stores in June, but the retailer remains adamant it is now on the path to recovery.
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NewsJD Sports half-year profits slide as online sales costs mount
JD Sports has delivered a fall in pre-tax profit at the half-year mark despite a minimal sales decline due to steep costs associated with fulfilling its online orders.
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NewsHalfords records sales acceleration but warns of ‘significant uncertainty’
Halfords has posted a surge in sales during the pandemic period driven by a spike in demand which has seen both its cycling and motoring divisions deliver growth.
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NewsNew Look requires backing of half of large landlords to pass CVA
Embattled fashion retailer New Look will need to convince at least 10 of its 20 largest landlord creditors to support its CVA or risk “Armageddon”.
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NewsPrimark boss: Practical approach to Covid constraints has spurred stores’ success
Primark’s strong shopkeeping skills helped draw customers to its stores despite the tough conditions afflicting many retail locations following the coronavirus outbreak.