Latest finance news – Page 61
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NewsVinted posts first profit after ‘strong’ year of growth
Online marketplace Vinted has posted a “strong” year of growth after it reached profitability for the first time and reported a surge in revenue.
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NewsShein’s London IPO to boost FTSE 100
Singapore-headquartered fashion giant Shein is set to boost the FTSE 100 as early as next month with a much-anticipated London IPO, This Is Money has reported.
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NewsSuperdry landlord M&G drafts in lawyers to review survival plan
The owner of Superdry’s Oxford Street flagship is reportedly mulling a challenge to the fashion retailer’s survival plan, which is set to involve steep rent cuts across some of its stores.
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NewsTed Baker’s European business in limbo with 149 jobs at risk
Ted Baker’s European arm is at risk of collapsing into administration, putting 149 roles at risk of redundancy at the fashion retailer.
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NewsLondon Designer Outlet posts record-breaking sales
London Designer Outlet (LDO), located at Wembley Park, has recorded its strongest first quarter ever as sales surpassed £20m for the first time.
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NewsSainsbury’s sales soar as food first strategy pays off
Sainsbury’s has reported growth in sales with record market share gains and volumes driven by a strong performance by the supermarket’s food division.
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NewsWHSmith sales rise driven by growth in travel division
WHSmith has reported a growth in sales driven by strong performance by its travel division in the half-year ending February 29, 2024.
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NewsLuxury retail group Kering warns on profits as sales slide
Gucci owner Kering has warned on profits during the first half of the year as sales slipped at the luxury fashion house during its first quarter.
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NewsTHG sales dip as devalued yen hits nutrition business
THG has reported a dip in sales for the first quarter as its nutrition business proved to be a drag on surging beauty sales.
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NewsJD Sports strikes £899m deal for US sportswear brand Hibbett
JD Sports has entered into a binding agreement to acquire US sportswear brand Hibbett for £899m.
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NewsPrimark profits soar as retailer targets further UK click-and-collect rollout
Primark profits have leaped and sales increased as the fashion brand targets rolling out click and collect across more stores across the UK.
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NewsThe Body Shop’s downfall triggered by owner’s failure to refinance loan
The Body Shop’s collapse was triggered by owner Aurelius failing to refinance loan, which resulted in an unplanned funding gap upwards of £100m.
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NewsAsda sales and profits increase as it continues focus on growth
Asda has reported increased sales and underlying profits as the supermarket continues its strategy to focus on growth.
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NewsOcado shareholders push for switch to New York stock market
Ocado is under pressure from its shareholders to consider leaving the London stock market for New York, according to The Sunday Telegraph.
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NewsAsda co-owner Zuber Issa close to selling £500m stake
Asda co-owner and billionaire Zuber Issa is reportedly edging closer to securing a deal to sell his £500m stake in the grocer to private equity firm TDR Capital.
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NewsL’Oréal sales surge as mass-market beauty outgrows luxury
Global cosmetics giant L’Oréal has kicked off the first quarter with high-single-digit growth in sales as it “continued outperformance in a global beauty market that remained dynamic”.
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NewsShein revives interest in Topshop
Shein is understood to have rekindled its interest in Asos-owned Topshop alongside ABG, The Times reports.
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NewsDunelm guidance unchanged despite sales growth
Dunelm has posted a surge in sales driven by volume and growth across both in-store and digital channels in the third quarter, ending March this year.
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NewsTrouva acquired for third time in two years
Trouva has been bought by Fy!, the third time the brand has changed hands in two years.
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NewsLVMH revenue slips in ‘uncertain’ global market
Luxury retail group LVMH has posted a slight decline in overall reported revenue growth as it continues to trade in an “uncertain” geopolitical and economic environment.