Latest finance news – Page 195
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NewsClarks blames deepening losses on ‘climate of uncertainty’
Clarks’ losses after tax increased in its last financial year, with sales falling and “onerous” leases across its store estate taking their toll.
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NewsIntu’s outlook ‘remains confident’ despite market conditions
Shopping centre owner Intu has made progress with the strategy set out in its interim results despite “challenging market conditions”.
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NewsM&S sales and profits fall due to weak clothing sales
Marks & Spencer’s sales and profits fell during its half-year following poor performance in its clothing and home ranges.
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NewsBoots owner considers taking the pharmacy chain private
Boots owner Walgreens Boots Alliance is considering taking the US pharmacy chain private following interest from investors.
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NewsMothercare UK tumbles into administration with the loss of 2,800 jobs
Mothercare’s UK arm has officially appointed administrators and will close all of its stores and offices with the loss of 2,800 jobs.
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NewsFormer BHS owner banned from directorships for 10 years
Dominic Chappell, the former BHS owner, has been banned from holding any company directorships for the next 10 years by the Insolvency Service.
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NewsKurt Geiger profits up despite House of Fraser debt
Kurt Geiger has reported an increase in its operating profit for the financial year, despite the bad debts it accrued as part of the House of Fraser administration.
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NewsPrimark profits rise as it eyes international expansion
Primark has posted an increase in full-year profits and set its sights on further international expansion, despite declining like-for-like sales.
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NewsShop Direct closes in on £150m financing deal
Shop Direct owners the Barclay family are on the cusp of agreeing a £150m refinancing deal to shore up the online retailer’s balance sheet.
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NewsRicher Sounds steals market share as profits rise
Richer Sounds registered increases in sales and profits during its full-year results.
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NewsPhilip Green races to repay £300m loan before Christmas
Sir Philip Green is in a race to raise some £300m before Christmas to repay a loan secured against Topshop’s London flagship.
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NewsMothercare notifies intent to appoint administrators
Mothercare has announced that it has notified an intention to appoint administrators and claimed its store estate was not “attractive enough” for third-party franchise operators.
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NewsEx-Sainsbury’s boss urges VAT increase to save high street
Former Sainsbury’s chief executive Justin King has said business rates for retailers should be halved and VAT increased to 22% in a bid to save the flagging high street.
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NewsAgenda: Primark, Sainsbury’s and M&S update the market
Retail Week looks ahead to the next seven days with updates from Primark, Sainsbury’s and M&S on the agenda.
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NewsAll Saints returns to profit as international sales climb
All Saints recorded a return to profitability in its full-year results spurred by sales growth across its non-retail channels.
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NewsTesco and Co-op bosses set out plans to save the high street
Dave Lewis and Steve Murrells have co-written an article setting out a “two-part shake-up” to business rates that they say will “save the high street”.
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NewsCarpetright investor considers takeover offer
Carpetright is in talks about a potential takeover offer from its financier Meditor as the retailer seeks cash to repay debt and provide working capital.
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NewsConsumer confidence falls as Brexit uncertainty takes toll
Consumer confidence declined in October as political and Brexit uncertainty bit.
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NewsZalando sales surge as shopper visits climb
Online fashion giant Zalando has posted a rise in quarterly sales as its customer base grew.
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NewsGovernment must fix ‘broken’ business rates system, say MPs
A Treasury committee report has called on the government to fix the “broken” business rates system as it is outpacing inflation and places a greater cost on high street shops than online businesses.