Latest finance news – Page 184
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NewsWestfield owner ramps up disposals programme as UK income falls
Shopping centre landlord Unibail-Rodamco-Westfield has scaled back its development pipeline and ramped up its disposal programme as net rental income fell across its UK centres last year.
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NewsRetailers write to chancellor over £500m transitional relief loss
Chief executives from more than 50 retailers have written to the chancellor calling for action on business rates reform, after it emerged that over £500m has been lost in transitional relief since 2017.
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NewsDunelm posts ‘significant’ interim profit and sales growth
Dunelm has recorded a strong uplift in profits at the half-year mark as the retailer says its preliminary results will be “slightly ahead” of analyst expectations.
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NewsIntu £1bn deal with Hong Kong-based investor falls through
Embattled institutional landlord Intu has confirmed that discussions over an emergency recapitalisation with a Hong Kong-based investment fund have fallen through.
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NewsNew Look cuts quarterly losses with ‘robust’ performance
Fashion retailer New Look reduced losses in its third quarter, helped by cost control and lower markdown activity.
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NewsJD Sports condemns ‘fundamentally flawed’ CMA decision on Footasylum
JD Sports executive chairman Peter Cowgill has lambasted the competition regulator’s provisional findings on the retailer’s acquisition of Footasylum.
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NewsMarks & Spencer turns to Greencore for new finance chief
Marks & Spencer has appointed Eoin Tonge as chief financial officer. Tonge joins from food group Greencore where he held the same role and replaces Humphrey Singer who left at the end of last year.
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NewsOcado posts full-year earnings fall as sales surge
Online retailer and tech platform Ocado has reported a slide in full-year earnings, affected by factors such as the fire last year at its Andover depot.
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NewsInstitute of Directors and CBI call for business rates reform
Two of the UK’s leading business groups have called on Chancellor Sajid Javid to launch a “comprehensive review” of the business rates system as part of next month’s Budget.
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NewsMarks & Spencer poaches former N Brown exec for finance role
Marks & Spencer’s hiring spree continues with the news it has appointed a finance chief for its food arm as it continues its turnaround efforts.
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NewsWaterstones books profits uplift as sales rise
Waterstones has recorded a rise in its full-year profits as sales rose, but the retailer said the lack of a ‘significant’ bestseller hampered potentially higher growth.
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NewsCasper faces nightmare after slashing IPO valuation
Casper Sleep has again slashed the amount it is seeking in its initial public offering to encourage investors to buy a stake in the struggling retailer.
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NewsRaise corporation tax to save struggling high street, bosses urge
The Treasury should increase corporation tax to fund a business rates cut for high street retailers, a new government-commissioned report has said.
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NewsPoundland Christmas sales rise as new ranges boost growth
Poundland has posted an uplift in sales during the crucial Christmas trading period as its Pep&Co clothing concessions helped drive footfall.
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NewsFormer Poundland owner teams up to bid for Pepco
The former owner of Poundland has joined with two private equity firms in a bid to take over the discount retail chain’s parent company.
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NewsRetail chief executive turnover reached seven-year high in 2019
The number of chief executives losing their jobs in the retail sector reached a seven-year high in 2019, according to a new report.
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NewsFrasers Group acquires stake in luxury handbag retailer Mulberry
The Mike Ashley-owned Frasers Group has acquired a stake in global handbag retailer Mulberry as part of what it calls the strategic “elevation of our retail proposition”.
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NewsPop-up retail property specialist Boxpark posts profits rise
Boxpark, the pop-up retail property specialist, has reported a rise in profitability and is eyeing expansion outside London.
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NewsComet liquidator sues French retailer Fnac Darty
Comet’s liquidator, FRP Advisory, is suing French retailer Fnac Darty for £115m over aspects of the electricals retailer’s collapse.
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NewsFrench Connection fails to find buyer as sale taken off the table
French Connection has revealed it is no longer looking for a buyer, following a strategic review.