Latest finance news – Page 177
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NewsNext warns sales fall during coronavirus ‘faster and steeper’ than anticipated
Next has issued a lengthy trading update warning that the fall in sales as a result of the coronavirus has been “faster and steeper” than it anticipated in March.
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NewsOasis and Warehouse boss Hash Ladha exits
Oasis and Warehouse’s group chief executive Hash Ladha has stepped down from his role as the company continues its administration process.
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NewsMarks & Spencer secures fresh funding and warns of ‘subdued’ trading
Marks & Spencer has secured fresh funding as it moves to shore up its balance sheet during the coronavirus crisis.
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NewsRetailers cancel £2.5bn of orders from Bangladesh amid coronavirus crisis
British retailers have cancelled an estimated £2.5bn in clothing orders from Bangladeshi suppliers, pushing the country’s garment industry towards a “major crisis”.
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NewsDebenhams warns business rates change could spark Welsh shop closures
Debenhams may have to shut branches in Wales unless the government changes its stance on business rates.
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NewsCoronavirus: JD Sports boss Cowgill takes 75% pay cut
JD Sports has launched a range of cost-cutting measures and delayed the publication of its preliminary results amid the coronavirus pandemic.
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NewsCoronavirus: Consumer confidence stabilises after early-April crash
Consumer confidence has stabilised after crashing at the start of the coronavirus crisis, although experts have refused to rule out a further slump to record lows.
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NewsCo-op warns of £200m coronavirus costs as profits rise
The Co-op has warned that it faces additional costs of more than £200m associated with the coronavirus crisis as it ramps up efforts to “feed the nation”.
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NewsMike Ashley’s Frasers Group settles €674m Belgian tax dispute
Mike Ashley’s Frasers Group has settled its long-running €674m (£588m) tax dispute with Belgian authorities.
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NewsAmazon donates £250,000 to help bookstores through coronavirus
Amazon has donated £250,000 to a fund set up to help its physical bookshop rivals that have been hammered by coronavirus.
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NewsHammerson’s £400m retail park deal in doubt as buyer tries to pull out
Institutional landlord Hammerson has said the previously agreed £400m sale of its retail park portfolio is hanging by a thread, as the prospective buyer is looking to pull out of the deal.
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NewsDFS raises £64m in new equity, braces for lockdown to last until December
DFS has raised £64m in its equity fundraising round, which the furniture retailer said will give the business headroom should the lockdown last “to December 2020”.
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NewsCMA holds firm on JD Sports-Footasylum acquisition despite coronavirus crisis
The Competition and Markets Authority (CMA) is set to maintain its stance on JD Sports’ acquisition of Footasylum despite the damaging impact coronavirus has had on the latter’s finances.
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NewsLaura Ashley brand rescued by Gordon Brothers
Restructuring and investment firm Gordon Brothers has bought the Laura Ashley brand and its intellectual property from administrators PwC.
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NewsMoss Bros buyer attempts to retract offer amid coronavirus disruption
Crew Clothing owner Brigadier Acquisition Company is aiming to have its offer the acquire Moss Bros in a £22.6m deal lapse.
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NewsBoohoo full-year sales and profits soar in ‘great’ year
Boohoo has reported a strong rise in its preliminary sales and profits as boss John Lyttle said the coronavirus pandemic had highlighted the “key strengths” of the business.
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NewsIkea acquires AR start-up to supercharge lockdown shopping experience
Ikea has acquired augmented reality (AR) start-up Geomagical Labs in a bid to drive shoppers to purchase more big-ticket items without needing to visit a store.
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NewsCoronavirus: John Lewis Partnership braces for full-year sales slump
The John Lewis Partnership has forecast that its full-year sales decline could double at John Lewis and slide at Waitrose despite the current coronavirus-induced surge in grocery sales.
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NewsJoules accesses extra financing as online sales outperform
Apparel retailer Joules has successfully struck new financing arrangements and reported better than expected online sales.
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NewsPrimark warns of challenging store reopening process post-coronavirus
Value fashion giant Primark has signalled that reopening stores after the coronavirus pandemic is likely to be a “complex” process to ensure the health and safety of staff and shoppers.