Latest finance news – Page 89
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NewsOcado slashes prices on more than 100 grocery products
Pureplay grocer Ocado has cut the prices on over 100 everyday essential items by up to 25% across a range of own-brand and Marks & Spencer items.
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NewsMulberry sales and revenue rise as it ‘delivers strategic objectives’
Mulberry has recorded a rise in international sales and revenue as it builds on delivering “strategic objectives” despite “macroeconomic uncertainty”.
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NewsProCook revenue slips due to ‘toughest economic backdrop’
ProCook has reported a decline in revenue, in a year the chief executive described the economic backdrop as being “one of the toughest I have experienced in my career”.
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NewsRevolution Beauty reappoints board despite AGM vote
Revolution Beauty saw the reappointment of three board members at its annual general meeting on Tuesday, despite a majority vote to remove them.
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NewsBoots delivers strong sales driven by success of own brands
Boots reported 13.4% year-on-year growth in retail sales in the three months to May 31, as market share grew for the ninth consecutive quarter.
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NewsExclusive: Customers believe supermarkets are more guilty of profiteering than banks
Shoppers believe supermarkets are more guilty of “profiteering” during the cost-of-living crisis than banks, according to new research.
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NewsHotter owner hails ‘encouraging’ trading as it ends sale process and mulls equity raise
Hotter parent company Unbound Group announced the end of its formal sale process today with ”no potential offers” and confirmed it is exploring an equity raise.
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NewsJD Sports on track to hit £1bn profit mark
Ahead of its AGM today, JD Sports reported positive trading in the first half of the financial year and said it was set to deliver profits “in line with the current average consensus expectations of £1.04 bn”.
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NewsGrocery bosses to point to dwindling profits ahead of grilling by MPs
The traditional big four grocers are preparing to point to dwindling profits as a result of increased costs to head off accusations of profiteering at tomorrow’s crunch price summit.
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NewsAmazon to invest $26bn in India by 2030
Amazon is set to invest $26bn (£20.4bn) in India by the end of the decade as it competes with Walmart.
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NewsPrimark owner ABF upgrades profit outlook as sales rise
Value fashion giant Primark has reported an increase in sales in its third quarter and parent company ABF upgraded its profit forecast for the full year.
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NewsHotel Chocolat warns on profits as inflationary pressures bite
Specialist retailer Hotel Chocolat has issued its second profit warning of the year, blaming ongoing inflationary pressures and softening consumer sentiment.
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NewsHotter Shoes owner considers emergency restructuring
Hotter Shoes’ parent company Unbound Group is reportedly in talks to launch emergency restructuring plans to “shed some of its liabilites”.
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NewsRevolution Beauty sales leap amid Boohoo requisition
Revolution Beauty has reported a jump in sales and believes it is “appropriate to update all shareholders on the group’s most recent trading performance” in light of the requisition notice by Boohoo.
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NewsShock interest rate rise means ‘struggle’ for shoppers and retailers, warns credit insurer
The bigger-than-expected increase in interest rates to the highest level since the 2008 financial crisis will pile more pressure on consumers and retailers, a leading credit insurer has warned.
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NewsMorrisons sales increase as it continues to cut costs
Morrisons has reported a continued increase in sales as it makes progress with its “plans to develop a broader, stronger Morrisons”.
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NewsJoules still owes creditors over £100m following collapse
Fashion retailer Joules reportedly still owes more than £100m to its suppliers, landlords and customers holding gift cards, according to new documents.
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NewsNext in talks with Elliott Advisors over Reiss sale
Fashion giant Next is in talks with private equity house Elliott Advisors regarding the sale of its 51% stake in Reiss, according to Sky News.
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NewsBoohoo drafts in beauty retail specialist to join Revolution Beauty coup
Boohoo has this morning proposed a third new member for Revolution’s board, despite the beauty retailer slamming its attempted boardroom coup yesterday and labelling the fashion pureplay’s approach as “value-destructive, opportunistic and self-serving”.
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NewsTHG predicts increase in profitability ahead of AGM
THG says it expects an increase in profitability in the first half of 2023 as it continues its “successful focus on profitability and cash generation”.