Latest finance news – Page 51
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NewsSainsbury’s boss urges government to slash business rates to save stores and jobs
Sainsbury’s boss Simon Roberts has urged the government to slash business rates, warning that a failure to act could lead to over 17,000 shop closures over the next decade.
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NewsFormer Wilko owner does not expect to help fix pension hole
The former owner of Wilko has said it does not expect to help fix the estimated £70.2m pension hole following the retailer’s collapse last year.
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NewsCarpetright sister business The Floor Room has collapsed into administration
Carpetright’s sister brand, which trades out of John Lewis stores, has collapsed into administration with the loss of 200 jobs.
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NewsAsda chair says he is ‘embarrassed’ by performance as he urges co-owner to step back
Asda chair Lord Stuart Rose has said he is “embarrassed” by the supermarket giant’s market share retreat and called on co-owner Mohsin Issa to take a step back from the day-to-day running of the retailer.
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NewsUnder Armour sales have fallen as it undergoes restructuring
Under Armour has reported a fall in sales in the first quarter of 2024 alongside a restructuring plan for the business.
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NewsMountain Warehouse has returned to profit as it eyes Carpetright stores for expansion
Outdoor specialist Mountain Warehouse is looking to potentially take over former Carpetright stores after it reported a return to profit in the full year ending February 29, 2024. tores as it reported a return to profit in the full year ending February 2024.
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NewsAsda owner has blamed the ‘challenging retail environment’ as revenues and like-for-likes slump
Asda owner Mohsin Issa has blamed what he called a “challenging retail environment” for falling revenues and a slump in like-for-like sales at the grocer.
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NewsDeliveroo has praised ‘strong growth’ in grocery after striking new retail partnerships
Deliveroo has enjoyed “strong growth” in grocery sales and expanded non-food retail partnerships with major brands in the UK and United Arab Emirates (UAE).
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NewsMarks Electrical profits have plummeted in ‘challenging but rewarding year’
Marks Electrical profits have slumped even while sales increased in what its CEO described as a “challenging but rewarding year” for the retailer.
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NewsZalando’s sales and profits have soared thanks to the summer of sport
Online fashion giant Zalando has reported a surge in profits and sales during the second quarter and maintained its full-year guidance as the summer of sport paid off.
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NewsSeasalt has reported an ‘excellent’ year helped by its thriving store estate
Cornish fashion retailer Seasalt has reported a record year of profits and sales as its store estate continues to thrive despite “external challenges” within the fashion sphere.
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NewsAmazon sales have surged but customers remain cautious and are seeking bargains
Sales at ecommerce giant Amazon have surged during its second quarter despite customers remaining cautious and trading down amid the cost-of-living crisis.
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NewsApple’s revenue has risen despite declining demand for iPhones
Technology giant Apple has reported an increase in revenue during the third quarter despite a continued decline in the demand for iPhones.
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NewsAsda owners to invest £30m into supermarket chain to arrest sales slump
Asda co-owner Mohsin Issa is set to inject £30m into the supermarket chain in a bid to reverse its sales slump trend.
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NewsPets at Home has maintained profit guidance as sales remain resilient
Pets at Home has reported a growth in total sales in line with expectations as it maintains its profit guidance for the full year.
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NewsNext has increased profit guidance as sales exceed expectations despite bad weather
Next has increased its full-year profit guidance as sales grew in the second quarter despite bad weather dominating most of the summer.
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NewsAdidas has posted an increase in sales following major football tournaments
Adidas posted an increase in revenue in the first half of the year driven by strong brand momentum and sporting events such as Euro 2024 and the Copa América.
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NewsWhite Stuff has reported a surge in profits after shift to ‘customer favourites’
White Stuff has hailed the success of its brand transformation strategy after posting a surge in profits and sales for the full year.
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NewsWickes retail sales grow against a ‘challenging background’ even as the group struggles
Wickes has reported continued sales and volume growth across its core retail business, even as group sales and like-for-likes slipped against a ‘challenging background’.
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NewsAsda staff survey leaves the grocer facing a new confidence crisis
The results of an Asda staff survey have left the supermarket giant facing a fresh crisis with less than half of its employees having confidence in the retailer’s long-term strategy.