Latest finance news – Page 59
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NewsWalmart ups guidance as sales rise in first quarter
US retail giant Walmart has posted a sales increase for the first quarter and upped its guidance as it continues to win over upper-income consumers.
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NewsWatches of Switzerland sales hit by ‘minimal return’ of tourist shopping
Watches of Switzerland has reported flat sales for the full year of 2024 driven by a challenging trading environment and the “minimal return of tourist spending” in the UK.
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NewsAlibaba revenue growth despite decline in profits
Alibaba has posted growth in revenue in its full-year and quarterly results, despite profits plunging.
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NewsMiniso posts growth driven by global store expansion
Chinese general merchandise retailer Miniso has posted growth in revenue and profit as it continues to roll out stores at home and abroad.
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NewsGreetings card retailers respond to Royal Mail takeover bid
The Greetings Card Association, which represents more than 500 card businesses, has called for the interest of its members to be safeguarded as Royal Mail considers an offer for a takeover from EP Group
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NewsNatura &Co losses widen as it explores ‘potential separation’ of Avon
Brazilian cosmetics giant and former owner of The Body Shop Natura &Co has posted widening losses as Avon International sales continued to fall in the first quarter of the year.
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NewsBurberry underperforms and warns of headwinds in luxury slowdown
Burberry has underperformed financially as it struggled with tepid demand for luxury clothing and accessories, and warns of more pressure to come.
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NewsSofa-in-a-box brand gets £10m boost to go global
Swyft has received a £10m investment from UK-based Sleep Brands Limited to take the sofa company into new markets.
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NewsAngling Direct posts ‘record’ UK performance
Specialist retailer Angling Direct has reported a rise in sales and market share as it achieved “record UK revenues” in the full year ending January 31, 2024.
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NewsWalgreens gauges interest in Boots among potential buyers
The American owner of Boots, Walgreens Boots Alliance, is understood to be reaching out to potential buyers of the UK health and beauty giant.
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NewsGreggs posts like-for-like sales rise as it ‘builds capacity for further growth’
Greggs has made a strong start to the new financial year and is investing to power future growth.
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NewsCurrys to beat profit guidance after ‘strong finish to year’
Electricals specialist Currys expects annual profits to come in ahead of expectations after returning to like-for-like growth at group level.
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NewsShein ramps up plans for London IPO following US pushback
Shein is reported to be accelerating its plans for a London Stock Exchange listing after its efforts to float in New York met pushback and regulatory obstacles from US lawmakers.
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NewsMothercare commences refinancing talks as global sales drop
Mothercare has reported a drop in revenue and international sales as it commenced refinancing discussions with lenders to renegotiate or refinance debt facilities.
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NewsWatches of Switzerland builds US business with $130m jewellery deal
Watches of Switzerland has bought US jeweller Roberto Coin for $130m (£104m) as it targets growth in the luxury branded jewellery category.
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NewsFrasers Group emerges as frontrunner for Ted Baker takeover
Frasers Group has emerged as the frontrunner to take over Ted Baker’s British operations after it collapsed into administration, according to reports.
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NewsHurr unveils new credit scheme as rental fashion trend soars
Fashion rental platform Hurr has launched a new credit system, offering renters the chance to purchase rental pass bundles monthly, as the demand for long-term and “more flexible” rental takes off.
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NewsBoohoo ‘well positioned’ for growth despite deepening losses
Fashion retailer Boohoo has said it is “well positioned to return to growth” despite widening losses and a drop in revenue and profit.
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NewsMorrisons snaps up stores to grow convenience business
Morrisons has bought 38 c-stores on the Channel Islands from local partner SandpiperCI as it builds its convenience business.
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NewsCarpetright to slash 70 jobs at Essex HQ
Flooring retailer Carpetright is axing around 70 jobs at its headquarters, equating to more than 25% of head office staff.