Latest finance news – Page 94
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NewsOcado shareholders revolt over chief executive pay
Almost a third of Ocado shareholders voted against the £2m pay packet of chief executive Tim Steiner at its AGM on Tuesday.
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NewsWickes’ sales knocked by poor weather
Wickes has reported a slip in lIke-for-like sales as bad weather affected demand for seasonal lines.
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NewsCard Factory profits leap as shoppers return to stores
Card Factory has reported a surge in full-year profits as customers returned to stores and it had a strong Christmas.
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NewsSuperdry launches £12m fundraising to strengthen balance sheet
Fashion retailer Superdry has formally unveiled an equity raise to bolster its balance sheet as it pursues a turnaround programme.
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NewsApollo enlists former Coty and Holland & Barrett bosses to advice on THG buyout
Private equity firm Apollo Global Management has recruited former Coty boss Camillo Pane and former Holland & Barrett chief executive Tony Buffin to advise on a THG buyout.
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NewsAdidas in legal dispute with investors over Yeezy partnership
Investors have filed a class action lawsuit against sportswear giant Adidas, claiming the company was aware of Kanye West’s problematic behaviour years before their falling out.
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NewsShop price inflation ‘likely to have peaked’ in April
Inflation is “likely to have peaked” during the first week of April, despite continuing to reach record highs in some categories, according to the latest figures from the BRC-Nielsen Shop Price Index.
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NewsCrocs raises outlook as revenues soar
Footwear retailer Crocs has raised its full-year outlook and credited a hike in revenues to the “strength” of its brands including Hey Dude, which it acquired last year.
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NewsAmazon beats expectations with latest results
Amazon did better than expected in its first quarter when sales and income climbed despite flat ecommerce sales.
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NewsHotel Chocolat cools expectations as Easter sales ‘lower than expected’
Hotel Chocolat expects sales to be slightly lower than market expectations and underlying profit before tax to break even in the 2023 financial year.
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NewsSainsbury’s profits decline as it fights to keep prices down
Sainsbury’s has reported a decline in profit as it “battles inflation” for customers, although its sales have edged up.
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NewsCard Factory acquires SA Greetings as it plans expansion into South Africa
Card Factory has acquired the South African greetings cards and gift packaging wholesaler SA Greetings as it looks to expand into overseas markets.
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NewsJohn Lewis chair White: ‘External investment would not be about end of partnership – far from it’
John Lewis chair Dame Sharon White has maintained that any external investment that may be brought in will not signal the end of the partnership, but will be a testament to the appeal of its co-owned model.
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NewsPret expands subscription service to cover all food and iced drinks
Pret a Manger has unveiled changes to its successful coffee subscription service, expanding the scheme to cover freshly made food, snacks and other drinks.
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NewsUK beauty sales driven by bricks and mortar as ecommerce falters
All beauty market gains came from in-store retail in 2022 as ecommerce sales across the whole economy in the UK fall to pre-pandemic levels, new research by the British Beauty Council has found.
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NewsPrimark sales surge as footfall climbs and margin is ‘better than expected’
Value fashion giant Primark has reported a surge in sales that it credits to “very good footfall and margin better than expected”, parent company ABF has reported.
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NewsGymshark profits decline for first time as operational costs rise
Gymshark posted a fall in profits for the first time despite an increase in revenue for the year ending in July 2022, as the group struggled with increasing operational costs.
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NewsCBI faces calls to disband as retailers exit en masse
The crisis at the Confederation of British Industry (CBI) deepened over the weekend as retailers joined other businesses in cutting ties amid calls the lobbying group should be disbanded.
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NewsAsos targeted by ‘dark destroyer’ short-seller ShadowFall
Embattled pureplay fashion brand Asos has been targeted by a renowned short-seller, which believes the retailer will be forced to raise more cash from shareholders.
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NewsExclusive: Ex-Asda boss Clarke stages Farmison rescue deal
A consortium led by former Asda chief executive Andy Clarke has bought online grocer Farmison out of administration and is aiming to rebuild the business.