Latest finance news – Page 98
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NewsMusic Magpie CEO focused on ‘buying, selling and renting more’ to improve profits
Music Magpie founder and chief executive Steve Oliver has said the company is focusing on “buying more, selling more and renting more” after reporting expected, albeit lacklustre, full-year results.
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NewsMusic Magpie profits fall despite record Black Friday sales
Music Magpie has reported falling profits despite a record Black Friday trading week and more than doubling its rental subscribers year on year.
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NewsHotel Chocolat profits and revenue fall as international sales suffer
Hotel Chocolat has posted a fall in profits and revenue in its first half as strong UK sales were offset by plummeting international sales.
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NewsZalando sales and profits slow against ‘challenging economic backdrop’
Online fashion giant Zalando has said it will focus on growing its profitability this year after sales slowed against a “challenging economic backdrop” in 2022.
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NewsIn The Style sold following strategic review
Online fashion retailer In The Style is to be sold for £1.2m after a strategic review.
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NewsGreggs sales and profits rise on back of ‘good strategic progress’
Greggs has reported a strong full-year performance after making “good strategic progress” and record store openings.
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NewsTed Baker owner ABG joins race to buy boots brand Hunter
The owner of Reebok and Ted Baker has joined the race to buy Royal Warrant-holding Wellington boot brand Hunter, according to Sky News.
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NewsJohn Lewis puts golf course on market to cut costs
The John Lewis Partnership has put a 200-acre golf course up for sale as part of a drive to cut costs.
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NewsAO rebound due to ‘emphasis on profitability and generating cash’
AO.com has credited its recent successes to changing its strategy to focus on profitability as well as maintaining a quality service that meets customers’ needs.
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NewsPrimark trades ‘well ahead of expectations’ as footfall climbs
Value fashion giant Primark “traded very well” in the first half, parent company ABF has reported.
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NewsSupermarket value items rising at higher rate than inflation
The prices of supermarket value items are increasing at a level that is exceeding grocery inflation, meaning shoppers relying on the cheapest product ranges are feeling the pinch the most.
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NewsLush in legal dispute with former CEO over shares transfer
Investment firm Silverwood Brands, headed by former Lush chief executive Andrew Gerrie, has accused the cosmetics retailer of failing to acknowledge a 19.8% transfer of shares.
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NewsShein projects doubling of revenues by 2025
Fast fashion retailer Shein has predicted its revenue will more than double to reach almost $60bn (£49.8bn) by 2025.
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NewsCath Kidston owner considering sale
Cath Kidston may be up for sale for the second time in less than a year.
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NewsBoohoo unveils new growth plan as it chases £5bn market cap
Pureplay fashion giant Boohoo has unveiled a new growth share plan in the wake of a “significantly decreased market capitalisation”.
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NewsMorrisons’ credit rating downgraded by Moody’s
Morrisons’ credit rating has been downgraded by Moody’s following poor sales and profits.
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NewsWaitrose invests £100m into slashing own-brand prices
Waitrose & Partners is to invest £100m in cutting the prices of hundreds of its own-brand products in a bid to compete with rival supermarkets as the grocery sector deals with record-high inflation.
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NewsDunelm delivers mixed results as profits plummet
Dunelm has reported falling profits despite a jump in total sales, as the homeware specialist battled strong comparatives and inflationary pressures.
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NewsTile Giant sold in pre-pack deal with former Topps boss
Specialist retailer Tile Giant has been sold in a pre-pack administration deal.
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NewsAndy Murray-backed sports brand Castore in talks for $200m fundraising
Manchester-based sportswear brand Castore is in talks to raise $200m (£166m) to fund its expansion.