Latest finance news – Page 85
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NewsWilko collapses into administration
Wilko has fallen into administration after failing to secure a rescue deal, but stores will remain open while a buyer is urgently pursued.
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NewsMarks Electrical hails strong sales ahead of AGM
Marks Electrical hailed strong sales growth in the first four months of the year “driven by excellent customer service” ahead of its AGM today.
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NewsWatches of Switzerland sales dip
Watches of Switzerland has reported a fall in total sales but said performance remains “in line with our guidance and expectations” in the first quarter ending July 2023.
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NewsWilko stops home deliveries for online orders
Wilko has pressed pause on home deliveries for orders on its website as it is in the midst of talks for a potential rescue deal.
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NewsUnder Armour sales slip against ‘challenging consumer environment’
In a trading update for the first quarter ending in June, Under Armour reported total sales of $1.3bn (£1.02bn), down 2% from the same period last year, and 1% in currency-neutral terms. Operating income was $21m (£16.5m) and net income was $9m (£7m).
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NewsJD Sports takes full ownership of Poland’s MIG
JD Sports has entered “a conditional agreement to acquire the outstanding 40% minority stake” of Marketing Investment Group (MIG) making it the 100% sole owner of the Poland-based footwear and clothing company.
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NewsFormer PrettyLittleThing boss acquires stake in Boohoo
PrettyLittleThing co-founder and former chief executive Umar Kamani has made a “significant investment” in online fashion giant Boohoo, which was originally established by his father Mahmud Kamani and Carol Kane.
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NewsFood prices may never fall following Ukraine invasion
The price of food may not fall back down, according to the chief economist at the Bank of England.
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NewsSuperdry secures fresh funding of up to £25m
Fashion retailer Superdry has secured funding of up to £25m in its latest bid to “help accelerate” its turnaround plan and cost-reduction programme.
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NewsCard Factory upgrades profit expectations
Card Factory has raised earnings expectations after a strong first half.
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NewsWilko would need £70m investment from a new owner
Wilko, which is teetering on the edge of administration, would need investment of £70m from any new owner.
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NewsAllSaints posts record results as product focus pays off
Fashion retailer AllSaints has reported its best-ever annual sales and profits.
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NewsClintons mulls closing 38 stores
Clintons is considering closing 38 stores – approximately one-fifth of its store estate – to avoid insolvency, The Times has reported.
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NewsApple profits rise driven by ‘all-time revenue record in services’
Apple has reported increased profits with an “all-time revenue record in services” as the tech giant reaches more than 1 billion paid subscriptions.
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NewsAmazon profits climb as cost cutting pays off
Amazon has reported an increase in profits for the second quarter of the year and increased its guidance for the next quarter as cost-cutting measures paid off.
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NewsAdidas reports flat sales as market remains ‘volatile’
Adidas posted flat sales in the second quarter of the year “impacted by the company’s conservative sell-in approach in order to reduce high inventory levels”.
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NewsWilko on brink of administration
Embattled retailer Wilko has filed a notice of intention to appoint administrators after failing to find investment.
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NewsScS confident in full-year profit guidance despite cost-of-living crisis
Furniture specialist ScS expects to report full-year profit guidance in line with expectations, despite the ongoing effects of the cost-of-living crisis.
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NewsPets at Home customer numbers grow as revenues spike
Pets at Home has reported an increase in “active VIP” customers and a jump in both total and group like-for-like sales.
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NewsNext increases full-year profit guidance as sales jump
Next has increased its full-year guidance for group profit before tax by £10m, following a “much better than expected” period of full-price sales.