Latest finance news – Page 68
-
NewsAsda owners borrowed millions from EG Group to pay private jet loans
Asda owners Mohsin and Zuber Issa have borrowed millions of pounds from their EG Group petrol forecourt empire to pay down debts taken on buying two private jets.
-
NewsFood prices fall for first time in two years as inflation stalls
The annual rate of inflation was unchanged in January, despite the first monthly fall in food prices, according to the Office for National Statistics.
-
NewsDunelm posts rise in sales and increased market share gains across homewares and furniture
Dunelm has recorded strong sales growth and market share gains in both homewares and furniture markets.
-
NewsThe Body Shop appoints administrators
The Body Shop has confirmed FRP Advisory as administrators of the business as it looks to “accelerate restructuring of the UK business”.
-
NewsYodel secures rescue deal led by rival Shift
Parcel delivery group Yodel has been acquired by a privately funded consortium led by executives of rival company Shift for an undisclosed sum.
-
NewsMatalan poaches new CFO from Poundland
Matalan chief financial officer Stephen Hill has stepped down from his role and will be succeeded by former Poundland finance director Dave Williams.
-
NewsEvri parcelled up for £2bn sale
Evri is being prepared for a multibillion-pound sale by its private equity owner, according to reports.
-
NewsNew Body Shop owner prepares to appoint administrators in UK
The Body Shop’s new owner is preparing to call in administrators just weeks after taking over the retailer.
-
NewsWaterstones profits fall as IT issues cause order backlog
Waterstones’ full-year profits declined despite a boost in sales as issues with stock distribution technology caused a backlog of orders.
-
NewsUnder Armour ‘on track’ for full year despite sales dip
Sportswear retailer Under Armour has said it delivered better than expected profitability and remains “on track” for the full year, despite a decline in sales in its third quarter.
-
NewsBarclays acquires Tesco Bank in £600m deal
Barclays has today confirmed it will acquire Tesco Bank in a £600m deal, which will see the bank take on the grocery giant’s 2,800 employees working across banking products.
-
NewsExclusive: Lawyers write to new Body Shop owners over unpaid bonuses
Brazilian beauty giant and previous owner of The Body Shop Natura &Co’s legal counsel has reached out to new owner Aurelius over unpaid bonuses of former employees, Retail Week can reveal.
-
NewsRevolution Beauty sets out revival strategy to the City
Cosmetics retailer Revolution Beauty reported “margin improvement” as it prepared to outline revival plans to the City.
-
NewsWatches of Switzerland welcomes VAT-free shopping review as sales slip
Upscale retailer Watches of Switzerland said it is “encouraged” by a review of VAT-free shopping as sales remain under pressure in tough trading conditions.
-
NewsSainsbury’s unveils ‘Next Level’ strategy
Sainsbury’s has said it expects to deliver growth in profit as it puts food and Nectar card at the heart of its ”Next Level Sainsbury’s” strategy for the next three years.
-
NewsRituals sales soar driven by strong European home performance
Wellness and beauty retailer Rituals has posted record full-year sales as it grew “across all countries and across all channels” in 2023.
-
NewsEstée Lauder to cut roles as global sales decline
Global cosmetics giant, Estée Lauder Companies has confirmed restructuring plans as global sales declined in the three months to December 2023.
-
NewsTed Baker owner Authentic mulls CVA as it cuts ties with UK retail partner
Ted Baker owner Authentic is reportedly mulling a CVA of the fashion retailer following the announcement it has cut ties with AARC, the Dutch retail group running its stores and ecommerce business across the UK and Europe.
-
NewsIssa brother mulls sale of Asda stake to focus on petrol forecourt empire
The ownership team behind supermarket chain Asda could be set to shuffle again after reports emerged that one of the Issa brothers is exploring a sale in his stake of the business.
-
NewsSuperdry boss Julian Dunkerton in talks for possible takeover bid
Superdry boss Julian Dunkerton is eyeing a takeover bid for the struggling fashion retailer and is in talks with “potential sources of finance” to help fund a cash offer.