Latest finance news – Page 8
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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NewsAmazon profits surge after strong Christmas and growth in AWS
Amazon posted surging profits and sales that exceeded expectations on Wall Street off the back of strong festive trading and growth in its cloud computing arm.
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NewsAdidas to sell remaining Yeezy stock
Adidas plans to sell its remaining Yeezy stock at cost price as full-year results benefited from a “better-than-expected” performance in the last quarter and the sale of Yeezy products.
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NewsLloydspharmacy goes into liquidation
Lloydspharmacy has gone into liquidation with a debt of £293m still owed to creditors, according to documents filed by its liquidators on Companies House last week.
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NewsIkea sales boosted by soaring click-and-collect orders
Ikea has posted a full-year sales uplift as online sales and click-and-collect orders soar.
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NewsJollyes lands record-breaking Christmas as sales 'continue to fly'
Jollyes saw like-for-like sales spike in the crucial Christmas trading period, as shoppers chose to treat their pets despite financial pressures.
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NewsMorrisons profits jump as it delivers sixth consecutive quarter of growth
Supermarket giant Morrisons has reported a jump in profits as it delivered its sixth consecutive quarter of like-for-like improvement.
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NewsH&M names new chief executive and updates on performance
Fashion giant H&M has appointed a new chief executive and reported on its most recent full-year performance.
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NewsJohn Lewis to return to profit this year, chair Sharon White reveals
John Lewis Partnership chair Dame Sharon White has said that the retailer will return to profit this year.