Latest finance news – Page 97
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NewsNike on the front foot with strong sales across international markets
Nike recorded a rise in sales during its third-quarter trading period across the US and international markets supported by its “brand distinction and strong execution”.
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NewsJust Eat to axe nearly 1,900 jobs after post-lockdown sales slump
Takeaway platform Just Eat is set to slash 1,870 jobs in the UK following a slump in sales post-lockdown.
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NewsScrewfix buys spare parts retailer out of administration
Screwfix has bought online spare parts and repair service Connect Distribution Services out of administration.
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NewsSweaty Betty bosses Julia Straus and Mark Smith to step down
Sweaty Betty chief executive Julia Straus and chief operating officer Mark Smith are set to step down this summer following the brand’s takeover, Drapers has reported.
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NewsDeliveroo on ‘path to profitability’ as losses narrow
Deliveroo made a nearly £300m loss last year but remains adamant that it is making “excellent progress on the path to profitability”.
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NewsMango leans into circular fashion with La Más Mona investment and rental trial
Fashion retailer Mango has invested in Spanish clothing and accessories rental platform La Más Mona, through its Mango StartUp Studio business accelerator, as well as launching its own rental platform trial.
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NewsLush complains to FCA about ex-boss over shares transfer
Lush has complained to the Financial Conduct Authority (FCA) about former chief executive Andrew Gerri and his investment firm Silverwood Brands over a transfer of shares.
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NewsJohn Lewis Partnership axes bonus and warns of job cuts as it swings to loss
John Lewis Partnership will not pay a bonus this year and has warned of job cuts within the group.
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NewsDFS warns on profits despite reaching ‘record market share’
Furniture specialist DFS has warned that its full-year profits will be at the lower end of its previous guidance, despite achieving “record market share” and higher average order values.
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News‘No comfort’ for retailers in ‘missed opportunity’ Budget
The Budget has been met with a largely tepid reaction from retailers and industry bodies, after the chancellor failed to address several important issues.
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NewsZara owner Inditex profits soar as ‘strong business model’ delivers
Inditex has posted strong annual profit growth, which it attributed to the strength and execution of its business model.
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NewsVirgin Wines profits wiped as Christmas trading impacted by operational issues
Virgin Wines profits and sales dropped in the first half, as the cost-of-living crisis exacerbated what the chief executive called “certain internal and operational challenges” over Christmas.
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NewsSainsbury’s splashes out more than £400m on supermarket freeholds
Grocery giant Sainsbury’s has bought the freeholds of 21 supermarkets for £431.5m from Supermarket Income REIT (SIR).
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NewsDune hires KPMG to find new investors for ‘exciting growth opportunities’
Dune founder and chair Daniel Rubin is on the hunt for new investors for the footwear retailer and has appointed KPMG to run the process.
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NewsM&S boss calls on government to slash red tape in Budget
Marks & Spencer chief executive Stuart Machin has called on the government to conduct a strategic review of legislation and its implementation to alleviate the burden on retailers.
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NewsAsda’s Issa brothers launch £8.6bn property review as it seeks to cut debt
Asda owners the Issa brothers have launched a review of its £8.6bn property estate as they seek to bring down debt levels.
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NewsRetailers reassure on financing following Silicon Valley Bank collapse
Retailers have reassured investors that operations and trading will be unaffected by the crisis at Silicon Valley Bank’s UK arm.
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NewsSuperdry hires advisers to cut costs after tough trading periods
Superdry’s founder and chief executive Julian Dunkerton has hired Interpath Advisory to help aid cost-cutting plans following a prolonged period of tough trading and profit warnings.
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NewsEG Group hails ‘resilient performance’ in tough economic environment
Petrol forecourt company EG Group has reported a “resilient performance” through its foodservice, grocery and merchandise, and fuel services despite a tough year that saw elevated operating costs.
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NewsMango profits surge and turnover reaches record high
Mango has posted a strong full-year performance for 2022, as profits surged and turnover reached a record high for the fashion retailer.