Latest finance news – Page 87
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NewsRevolution Beauty faces FCA market abuse probe
Cosmetics specialist Revolution Beauty is being investigated by the Financial Conduct Authority (FCA) for potential market abuse.
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NewsTHG offloads OnDemand division to management to focus on core operations
Online group THG has sold its OnDemand business – which includes entertainment specialist Zavvi – to the division’s management.
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NewsKim Kardashian’s Skims brand valued at $4bn
Kim Kardashian’s shapewear brand Skims has been valued at $4bn (£3.09bn) following its latest round of fundraising.
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NewsDunelm ups profit guidance as shoppers seek affordable home improvements
Dunelm has upped its profit guidance as sales climb and shoppers search out affordable treats and improvements for their homes.
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NewsUK inflation drops as prices rise at a slower pace
UK inflation fell across all areas in June to a lower level than predicted as prices rose at a slower pace.
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NewsPret returns to profit driven by subscription service
Pret a Manger has reported its first profit increase since 2018 as strong demand for its subscription service helped the group bounce back.
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NewsHotter Shoes bought by Woolovers in pre-pack deal
Knitwear retailer Woolovers Group has acquired Hotter Shoes in a deal that will see all 421 employees and 27 stores and concessions “transferred across to the purchaser”.
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NewsIceland invests £26m in slashing prices on 500 items
Frozen food specialist Iceland has invested £26m in slashing prices on 500 “weekly shop items” and in putting a third of its entire range into its “mix and match” multibuy offering.
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NewsCredit insurer slashes cover for Boohoo suppliers
Boohoo’s credit insurer Allianz Trade has slashed cover for its suppliers, which threatens to enhance financial pressures on the fashion retailer, according to reports.
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NewsHotter owner Unbound Group confirms intent to appoint administrators
Hotter parent company Unbound Group intends to appoint Interpath Advisory as administrators to the group’s main operating subsidiary, Beaconsfield Footwear, which includes Hotter Shoes.
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NewsVirgin Wines profits slow ‘in line with expectations’
Virgin Wines reported a full-year trading performance “in line with expectations” driven by a disciplined approach to customer acquisition, positive trends on conversion and cancellation rates, and a resilient WineBank loyalty scheme.
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NewsDFS reaches ‘strongest ever’ market share despite challenging market
Furniture specialist DFS reported a record market share of 38% driven by “the group’s leading brands, scale and well-invested integrated retail proposition”.
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NewsBurberry sales jump as core categories perform strongly
Luxury brand Burberry has reported a jump in sales, as core categories for the brand such as outerwear and leather goods performed well.
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NewsUniqlo owner Fast Retailing ups profit guidance
The owner of fashion giant Uniqlo, Fast Retailing, has upped its full-year profit guidance following a “strong” international performance in its third quarter.
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NewsPepco revenue rises despite ‘challenging trading environment’
Pepco has reported a growth in revenue despite facing a “challenging trading environment” in April and May across central Europe.
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NewsFrasers Group ups stakes in N Brown and Currys
Frasers Group has increased its stakes in fashion retailer N Brown and electricals retailer Currys in a continued shopping spree for Mike Ashley’s retail empire.
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NewsMusic Magpie credits ‘strong momentum’ for first-half trading
Music Magpie has credited “strong momentum” for its first-half performance as it traded in line with expectations and looks forward to the “seasonally important” second half of the year.
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NewsWatches of Switzerland sales and profits soar in record year
Watches of Switzerland has posted a “record” year of revenue and profitability, entering 2024 “significantly ahead” of what it previously forecast as strong momentum across the US, UK and Europe continues.
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NewsMango sales grow as it announces ‘ambitious expansion plans’
Fashion retailer Mango posted a boost in sales in the first half of the year, crediting “good performance” in its key markets as well as a “strengthened ecosystem of channels and partners”.
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NewsSuperdrug profits surge off the back of strong own-brand product performance
Superdrug has reported surging profits and sales off the back of improved footfall, successful own-brand product launches and a strong Christmas performance.