Latest finance news – Page 170
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NewsRetail hits out at lack of help in Sunak’s Covid-19 recovery plan
The retail industry has hit out at the lack of help afforded to the sector in Rishi Sunak’s coronavirus recovery plan.
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NewsSosandar cuts losses as quarterly sales rise
Fashion etailer Sosandar has reported a resilient performance in its first quarter, when sales rose and losses fell.
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NewsAll Saints wins creditor backing for CVA
Fashion retailer All Saints’ CVA proposals have won the support of creditors.
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NewsHalfords profits beat forecast despite Covid impact
Bikes and motor accessories specialist Halfords generated full-year profits ahead of guidance but remained cautious about trading conditions.
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NewsJD Sports posts profits rise and calls for ‘rental realism’
JD sports has posted a rise in sales and profits and said it expects to continue to prosper despite the impact of coronavirus and a changing landscape.
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NewsTop investors pledge to engage with Boohoo on modern slavery claims
Two of Boohoo’s biggest investors have promised to engage with the online fashion giant over allegations of modern slavery at Leicester clothing factories.
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NewsPret A Manger to shutter 30 stores putting 1,000 jobs at risk
Pret A Manger is permanently closing 30 of its stores and putting around 1,000 jobs into consultation following the “significant impact” of coronavirus on profits and cash flow.
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NewsTesco seeks supplier discounts as it ratchets up pressure on Aldi
Tesco is demanding deep discounts from suppliers as it seeks to ramp up the pressure on its discount rivals on price.
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NewsTreasury considers £500 vouchers for all adults to help Covid-hit high streets
All adults across the UK could be given £500 to spend under radical government plans being considered to kick-start the economy amid the coronavirus crisis.
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NewsBoohoo faces modern slavery allegations at Leicester warehouse
Boohoo has become embroiled in a modern slavery row amid claims that workers at factories in Leicester are being paid as little as £3.50 per hour.
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NewsMarket Halls blames social distancing for closure and job losses
Market Halls, the company which operates three of the biggest food halls in the UK, has blamed social distancing for its current closure and a wave of redundancies.
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NewsLandsec hails ‘encouraging’ footfall and reinstates dividend despite rents dip
Landsec has hailed “encouraging” levels of footfall in its centres and will reinstate its shareholder dividend from November, despite retail occupants dragging their feet with rents.
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NewsConsumer confidence inches up despite economic uncertainty
Consumer confidence has risen in the two weeks since non-essential shops reopened despite ongoing disruption due to the pandemic.
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NewsPrimark boss on reopening success: ‘Online can’t compete with our low prices’
Primark’s performance since reopening shows the continued relevance of its low-price, bricks-and-mortar business model that trumps online rivals, bosses believe.
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NewsPrimark ‘encouraged’ by trade since reopening but profits to plunge
Value fashion giant Primark’s profits will be down by about two thirds this year, but trading in reopened stores has been encouraging.
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NewsTopps Tiles sales slide but hails ‘resilience’ as stores reopen
Topps Tiles sales slid during its third quarter as the pandemic hammered its top line.
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NewsLandlords bank on retail recovery despite falling rent collections
In separate updates today, institutional landlords Hammerson and British Land have outlined hopes for a retail recovery despite struggling to recoup rents for the most recent quarter.
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NewsSainsbury’s first-quarter sales climb as digital revenue more than doubles
Sainsbury’s has posted a rise in its first-quarter sales spurred by strong online growth as new boss Simon Roberts says the grocery business has “changed fundamentally”.
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NewsTM Lewin shutters stores after tumbling into administration
Shirtmaker TM Lewin is set to close all of its UK stores, putting over 600 jobs at risk, after it fell into administration due to the impact of the Covid-19 pandemic.
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NewsDelivery tax on the cards for online shoppers
Online shopping faces the prospect of a delivery levy to address the environmental impact of fulfilment.