Latest finance news – Page 62
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NewsAdidas increases profit guidance as sales exceed expectations
Global sportswear giant Adidas has increased its full-year profit guidance after its performance exceeded expectations in the first quarter of 2024.
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NewsShein executive distances retailer from ‘labour practices’ concerns
A senior Shein director has maintained that technological prowess rather than supply chain working conditions have driven the pureplay fashion giant’s success.
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NewsInflation rate reaches lowest level in over two years
The rate of inflation has fallen to its lowest level in two-and-a-half years, according to the latest figures by the Office for National Statistics.
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NewsAsos sales continue to fall as it appoints new CFO
Asos has reported another slump in sales but says it will meet profit guidance for this year as it introduces a new chief financial officer.
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NewsGetir weighing asset sales as part of restructuring talks
Getir, one of the world’s largest rapid-delivery grocery platforms, is weighing a string of asset sales as part of a restructuring of the business after its valuation plummeted.
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NewsSuperdry to quit stock market as part of survival plan
Superdry is poised to de-list from the London Stock Exchange as part of a restructuring plans that it says are critical to its long-term survival as a brand.
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NewsCharles Tyrwhitt sales jump as brand pivots to casual work attire
Suits and shirts specialist Charles Tyrwhitt expects its business to grow by 20% over the next year as customer demands for casual work attire booms.
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NewsGetir eyes restructuring as market value plummets
Getir, one of the world’s largest rapid-delivery grocery platforms, is in talks over a restructuring of the business after its valuation plummeted.
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NewsUniqlo owner posts ‘strong’ profits and sales increase
Uniqlo parent company Fast Retailing has posted a rise in both profits and sales during its first half as all geographies posted a “strong” performance.
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NewsTHG Beauty boss expects return to growth in ‘extremely buoyant’ market
THG Beauty, which owns pureplay retailers including Lookfantastic and Cult Beauty, expects to return to growth in the next financial year as sales grew at a double-digit rate in the last quarter and the premium beauty market in the UK remains “extremely buoyant”, according to chief executive Lucy Gorman.
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NewsPoundstretcher snapped up by Majestic Wine owner Fortress
Value chain Poundstretcher has been bought by Majestic Wine owner Fortress for an undisclosed fee.
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NewsPepco group sales rise but like-for-likes stutter as it unveils new CEO
Pepco has delivered something of a mixed bag as group sales jumped but like-for-like sales lapped tough comparatives as it unveiled a new group chief executive.
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NewsTed Baker US licence partner OSL eyes takeover bid
Ted Baker’s North American licensing partner, OSL, is reportedly eyeing a potential takeover bid of the fashion retailer after it collapsed into administration.
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NewsFrasers to acquire Dutch sports retailer Twin Sport
Frasers Group has entered a binding agreement to acquire Dutch omnichannel sports retailer Twin Sport as it looks to “become the number one sporting goods retailer in Europe, the Middle East and Asia” region.
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NewsTHG profits surge despite sales slip
THG has posted an increase in profits for the full year and maintained its profit guidance despite a slip in sales driven by “action to discontinue loss making categories”.
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NewsTesco profits and sales soar amid growing market share
Tesco has reported a surge in both profits and sales for the full year and hailed a surge in market share gains as inflationary pressures “lessened substantially”.
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NewsExclusive: Retail spend to take £2.4bn hit in 2024
Retail spending is expected to take a £2.4bn hit this year as consumers are impacted by “lower levels of affluence” amid the cost-of-living crisis, according to the latest research by Retail Economics and beBettor.
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NewsNext and Frasers Group circle Ted Baker for potential rescue deal
Retail giants Next and Frasers Group have reportedly expressed an interest in purchasing collapsed fashion retailer Ted Baker.
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NewsHome Bargains owner targets 1,000 stores after profit boost
TJ Morris, owner of discount retailer Home Bargains, has posted a rise in sales and profit as it looks to open more stores.
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NewsPhase Eight owner TFG completes £90m refinancing
TFG London, the owner of fashion brands Phase Eight, Whistles and Hobbs, has secured £90m in funding to support its growth strategy.