Latest finance news – Page 73
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NewsScS shareholders vote through £99m sale to Poltronesofà
The £99m takeover of ScS by Italian sofa retailer Poltronesofà has been given the go-ahead after shareholders voted in favour of the deal yesterday.
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NewsNike plans $2bn cost savings as it posts soft sales outlook
Nike has outlined plans to make $2bn (£1.6bn) in cost savings over the next three years as demand slows and it looks ahead to a “softer” second-half sales outlook.
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NewsRetail hopes rest on big Christmas weekend ahead of ‘new year’s chill’
Retailers are holding out hope for a last big weekend of trading ahead of Christmas Day, despite the economic outlook being decidedly gloomy.
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NewsFrasers Group snaps up Matches in £52m deal
Frasers Group has snapped up luxury fashion retailer Matches in a £52m deal as it looks to strengthen its luxury offering and elevate its portfolio.
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NewsAsda faces £30m rise in debt costs as bosses grilled by MPs
Asda could have to pay increased interest payments of £30m from February as owners Mohsin and Zuber Issa’s loans become due.
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NewsSuperdry warns on profits as tough trading conditions and weather take toll
Fashion retailer Superdry was warned that profits will be lower than expected after trading ”significantly below management expectations”.
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NewsCoupang completes $500m rescue deal for Farfetch
Global ecommerce retailer Coupang has acquired Farfetch, injecting $500m (£394.8m) in emergency funding into the embattled luxury fashion retailer.
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NewsFarfetch in talks with white knight investor to go private
Farfetch is attempting to finalise a rescue deal with a private equity-backed buyer that would see its shareholders get wiped out.
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NewsMike Ashley eyes deal to bring Matches into Frasers Group
Retail tycoon Mike Ashley is in negotiations about a deal that would see Frasers Group take control of Matches.
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NewsH&M sales flat again after 'unusually hot weather'
H&M has posted “flat” sales in its fourth quarter as the previous warning of “unusually hot weather” took its toll on autumn ranges.
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NewsNaked Wines losses widen and sales fall
Naked Wines has reported a loss and a drop in sales as it starts moving towards “sustainable cash generation”.
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NewsCurrys boss Baldock optimistic about Christmas as customers ‘treat themselves’
Currys chief executive Alex Baldock said customers have been “treating themselves” this year and he was positive about the festive season.
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NewsMusic Magpie credits record Black Friday for boosting performance
Music Magpie said a record Black Friday period has helped “offset a softer H1” as it posted its pre-close trading update to November 30, 2023.
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NewsCurrys sales decline but profit guidance holds
Currys reported a decline in group revenue for the six months ending October 31, but made no change to profit guidance as trading remained in line with expectations.
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NewsPotential Boots and Shein IPOs show ‘there is life’ in the City
As the week saw news of both Boots and Shein exploring a public listing in London, analysts told Retail Week that there may still be “life in the old dog yet”.
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NewsLondon Designer Outlet reports record Black Friday
London Designer Outlet (LDO) at Wembley Park has recorded a record Black Friday, exceeding last year’s record sales performance by 8.6%.
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NewsProCook boss expects profit to break even as it plans return to growth
ProCook chief executive Lee Tappenden has said he is “cautiously optimistic” about Christmas trading following a strengthened Black Friday performance.
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NewsProCook shows strong golden quarter trading
ProCook losses have improved, but the retailer is still in the red despite outperforming the market over Black Friday and the early part of Christmas trading.
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NewsInditex profits and sales rocket
Spanish fashion giant Inditex has reported soaring profits and sales and hailed the response of customers to its autumn and winter collections.
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NewsRevolution Beauty reaches legal settlement with co-founder
Revolution Beauty has announced it has reached a £490,000 settlement agreement with co-founder Tom Allsworth.