Latest finance news – Page 253
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NewsChancellor unveils business rates changes
Chancellor Philip Hammond has confirmed in his Spring Statement that business rates will now be reviewed every three years.
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NewsMaplin sale hopes fade as retail rivals circle stores
A clutch of retailers are circling Maplin’s store estate as its hopes of securing a rescue deal rapidly evaporate.
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NewsFrench Connection trims losses amid store closure plan
French Connection has narrowed its full-year losses and pledged to close more outlets this year.
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NewsMaplin head office staff axed by administrators
The administrators of electricals retailer Maplin have made redundancies at its headquarters.
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NewsAgenda: Morrisons, French Connection and Eve Sleep
Retail Week looks ahead to the next seven days, with updates from Morrisons, French Connection and Eve Sleep on the agenda.
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NewsConviviality warns on profits after forecasting error
Conviviality has issued a profit warning after uncovering “a material error” in its financial forecasts.
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NewsJohn Lewis profits tank as bonus lowest since 1954
John Lewis Partnership’s full-year profits plummeted as its department store was hit by restructuring costs due to redundancies.
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NewsYoox Net-a-Porter full-year profits and sales rise
Yoox Net-a-Porter has posted a boost in its full-year profits and sales bolstered by increased customer numbers and strong demand across all product lines.
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NewsNew Look primed for CVA after crunch bondholder talks
New Look is poised to launch a company voluntary arrangement (CVA) within days following the result of a crunch bondholder consultation, Retail Week has learned.
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NewsTesco and Morrisons top buoyant grocery market
Tesco and Morrisons outpaced the other big four rivals in February, when overall grocery sales grew by more than 3% for the 12th consecutive month.
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NewsHouse of Fraser’s owner to sell off stake
House of Fraser’s owner is planning to dispose of its majority stake in the troubled chain, selling it to a Chinese tourism development company.
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NewsSales inch up in February amid retail's ‘perfect storm’
Retail sales edged up in February despite the ‘perfect storm’ of softening consumer demand, rising costs and structural changes within the industry.
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NewsTesco officially completes £3.7bn capture of Booker
Tesco has sealed its £3.7bn takeover of retailer and wholesaler Booker this morning, just over a year after it was first revealed.
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NewsEx-Tesco execs face retrial over accounting scandal
Three former Tesco executives are facing a retrial in relation to the grocer’s £250m accounting scandal.
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NewsMothercare seeks covenant waivers and finance
Mothercare is seeking waivers of some of its financial covenants and looking at ways of raising further cash as it attempts a turnaround.
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NewsSports Direct increases stake in Debenhams
Sports Direct has increased its stake in Debenhams to just below the threshold that would trigger a formal takeover bid.
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NewsToys R Us launches closing down Sale following collapse
Toys R Us has launched a nationwide closing down Sale following its collapse into administration on Wednesday.
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NewsMaplin administrators draft in GCW to aid sale efforts
Maplin’s administrators have drafted in commercial property experts GCW to advise on the collapsed retailer’s portfolio as they ramp up efforts to secure a sale.
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NewsAgenda: John Lewis, Kantar, BRC KPMG, Retail Week Live
Retail Week looks ahead to the next seven days, with an update from John Lewis and Retail Week Live on the agenda.
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NewsNew Look plans 60% rent reductions under potential CVA
New Look is planning to slash rents by up to 60% under the terms of a potential company voluntary arrangement (CVA) being discussed with landlords.