Latest finance news – Page 7
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Mytheresa ‘outperforms’ as luxury fashion sales grow
Luxury fashion retailer Mytheresa has hailed its sales growth during the second quarter, despite falling profits, as it “outperformed almost all competitors” and the demand for luxury fashion goods edged up.
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Farfetch boss steps down amid Coupang takeover
Farfetch boss José Neves is set to step down from his role as chief executive at the luxury fashion retailer, according to reports.
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White Stuff owners consider sale following takeover approach
The owners of fashion retailer White Stuff are reportedly exploring a sale of the business after receiving surprise interest from a prospective buyer.
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AO saves 70 jobs through buying mobile phone retailer
Online electricals retailer AO has acquired some assets of the mobile phone retailer A1 Comms, saving 73 jobs in the process.
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Asda 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.
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Food 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.
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Dunelm 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.
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The 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”.
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Yodel 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.
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Matalan 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.
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Evri parcelled up for £2bn sale
Evri is being prepared for a multibillion-pound sale by its private equity owner, according to reports.
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New 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.
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Waterstones 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.
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Under 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.
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Barclays 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.
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Exclusive: 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.
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Revolution 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.
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Watches 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.
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Sainsbury’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.
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Rituals 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.