Latest finance news – Page 194
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NewsAsda sales drop as Walmart blames Brexit effect
Asda has posted a slight drop in like-for-like sales, which it has blamed on the ongoing political concerns over Brexit and consumer confidence.
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NewsBurberry beats Hong Kong disruption as new strategy progresses
Burberry has said its new strategy is “on track” despite being affected by the civil unrest in Hong Kong.
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NewsCard Factory posts sales rise helped by store openings
Card Factory has recorded a 5% rise in group sales in the year to date and expects profits to meet expectations.
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NewsShop Direct secures funding from Barclay brothers
Shop Direct has secured £150m of additional funding from its parent company to plug a gap in equity triggered by an unexpected surge in PPI claims earlier this year.
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NewsGlobal Fashion Group losses continue to narrow as sales rise
Global Fashion Group (GFG) posted an increase in sales during a “strong” third quarter.
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NewsBritish Land retail property portfolio haemorrhages tenth of value
British Land is the latest institutional landlord to suffer as the high street malaise reduced its retail property portfolio values by a tenth.
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NewsKKR makes formal approach for Walgreens Boots Alliance buyout
Private equity firm KKR has reportedly made a formal approach to buy Boots’ parent company and take the business private in what could be the largest leveraged buyout on record.
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NewsMulberry losses widen as ‘challenging’ UK market hits sales
Mulberry has posted widening losses at the interim mark as it seeks to increase focus on its international portfolio to offset sluggish UK sales.
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NewsLandsec trumpets new developments despite retail woes
Landsec is pushing ahead with 1 million sq ft of new London property developments as it seeks to offset falling portfolio values bought on by the troubles in the retail sector.
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NewsB&M reviews German business as profits tumble
B&M’s profits spiralled as the German arm of the business was “impacted by trading and operational issues”.
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NewsNew Look losses narrow despite falling sales
New Look posted narrowed losses during its half-year results following an “incredibly busy” year.
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NewsBRC calls for next government to ‘empower retail’ in election manifesto
The BRC has unveiled its election manifesto, setting out how the next government can “support the industry as it navigates a transformation driven by new technology and changing consumer behaviour”.
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NewsGreggs profit expectations heat up as sales soar
Greggs’ profit expectations have been upgraded as total group and managed shops like-for-like sales soared.
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NewsClintons to close stores and slash rents in survival bid
Clintons has been forced to reach out to landlords to seek concessions on store closures and rent cuts, as the greetings card chain becomes the latest high street retailer to suffer.
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NewsMamas & Papas to close six stores after pre-pack administration
Mamas & Papas has closed six stores and will be reviewing operations at its head office which could lead to as many as 127 redundancies across shopfloor and back office.
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NewsSuperdry blames sales fall on ‘legacy issues’
Superdry has reported slumps in group sales and across all its channels, which it says “reflects an expected year of reset” and legacy issues across the business.
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NewsThe Works warns on profits as like-for-like sales suffer
The Works has issued a profit warning in its half-year trading update, as it says a “challenging consumer backdrop” and strong comparables hit its like-for-like sales.
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NewsHalfords profits and revenue fall as big-ticket sales stall
Halfords has recorded a decline in interim sales and profits as the business snapped up independent garage chain McConechy’s Tyre Service in a bid to bolster its autocentres division.
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NewsSainsbury’s half-year profits slide as sales fall in ‘competitive’ market
Sainsbury’s has recorded a fall in profits at the half-year mark as one-off property costs hit the grocer’s bottom line.
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NewsIkea sales rise as global transformation takes hold
Ikea has reported an increase in total sales as the first year of its global transformation programme has taken hold.