Latest finance news – Page 246
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NewsIkea pulls out of Preston store as profits nosedive
Ikea has parked plans for a superstore in Preston and reported plunging full-year profits.
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NewsMarks & Spencer prepares for more store closures
Marks & Spencer is to accelerate its store closure programme, it is understood.
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NewsNext demands ‘CVA clauses’ from landlords
Next is asking landlords for lower rent on stores when neighbouring shops get a better deal through a CVA.
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NewsPoundland owner holds 'urgent' restructuring talks
Poundland’s owner Steinhoff has kicked off restructuring talks with its lenders to address the group’s “critical” debt position.
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NewsAgenda: M&S, Kingfisher and Halfords update the market
Retail Week looks ahead to the next seven days, with updates from M&S, Kingfisher, Halfords and Pets at Home on the agenda
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NewsCarpetright launches share issue to fund CVA
Carpetright has issued shares in a bid to raise £60m to support its company voluntary arrangement (CVA) and restructure.
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NewsCMA opens investigation into Sainsbury’s-Asda merger
The Competition and Markets Authority has launched the first phase of its investigation into the mega-merger between the two members of the big four.
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NewsMothercare swings to massive loss in full-year
Mothercare swung to a loss last year as sales shrank during a catastrophic period for the retailer.
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NewsMonsoon losses shrink but sales remain flat
Monsoon managed to significantly shrink its losses in its last full year but sales remained stubbornly flat.
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NewsAsda sales rise for fourth consecutive quarter
Asda has registered its fourth consecutive quarter of sales growth as the earlier fall of Easter boosted its performance.
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NewsShop Direct leaves City £55m out of pocket
Investors in Shop Direct have taken a hit after fears of a consumer credit crackdown triggered a sell-off in the company’s debt.
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NewsMoss Bros hails 'improvement' despite sales decline
Moss Bros has suffered a further sales decline, but pointed to an “improvement” in performance as it grapples to turn around its fortunes.
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NewsBurberry profits rise in 'year of transition'
Burberry has posted an increase in full-year profitability as boss Marco Gobbetti hailed “promising early signs” in its transformation plan.
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NewsPoundworld founder Chris Edwards eyes rescue bid
Poundworld’s founder and former boss Chris Edwards is mulling a move to rescue the embattled business.
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NewsMothercare to seek fresh investment for rescue plan
Mothercare is set to tap up investors to bolster its restructuring plan with the launch of equity share placing alongside its full-year results this week.
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NewsPoundworld parent TPG parks CVA plan in favour of sale
Poundworld’s owner has halted plans for a possible Company Voluntary Arrangement (CVA) after receiving expression of interest from prospective buyers.
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NewsAgenda: Asda, Mothercare and Burberry update the market
Retail Week looks ahead to the next seven days, with updates from Mothercare, Gear4Music and Asda on the agenda.
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NewsThe Hut Group obtains £600m loan to drive acquisitions
The Hut Group has secured a £600m revolving credit facility to supercharge its acquisition warpath and bolster its tech capabilities.
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NewsHouse of Fraser Group racks up £44m loss
House of Fraser Group swung to a £43.9m pre-tax loss last year as the Brexit vote, terrorist attacks and online competition weighed on the embattled department store business.
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NewsSuperdry full-year profits up but store sales stutter
Superdry’s shares took a tumble after store sales struggled in its most recent quarter.