All City & finance articles – Page 115
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NewsIn The Style announces intention to float on AIM
Fashion etailer In The Style is set to float on the AIM market of the London Stock Exchange.
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NewsPrimark loses £1.1bn in sales due to lockdowns
Primark estimates that non-essential retail closures across its global store estate cost the business £1.1bn in lost sales in the first half of its financial year, but expects the period after lockdown ends to be “highly cash generative”.
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NewsIkea full-year sales fall cushioned by strong online growth
Ikea has reported a decline in full-year sales across its UK business, but boss Peter Jelkeby praised the retailer’s accelerated transformation.
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NewsM&S boss Rowe hits out at ‘unbearable’ business rates burden
Marks & Spencer boss Steve Rowe has warned that the “unbearable yoke” of business rates will spark thousands more job losses unless the tax is overhauled by the government.
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NewsPoundland parent Pepco’s profits drop as it ramps up European expansion
Poundland’s owner Pepco Group has reported an uplift in full-year sales as it plans to open 400 new stores per year.
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NewsNext boss calls for business rates reform as Sunak delays government review
Next boss Lord Wolfson has called for business rates on high street stores to be slashed by a third to stem the tide of store closures.
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NewsConsumer confidence boosted in February as vaccine rollout continues
Consumer confidence jumped in February as the UK looks forward to a post-pandemic future.
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NewsMoonpig set to double full-year sales after ‘strongest ever’ Valentine’s Day
Moonpig reported the strongest week of trading in its history in the run up to Valentine’s Day.
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NewsAdidas set to sell off Reebok to bolster growth ambitions
Adidas has confirmed plans to offload Reebok as part of its five-year strategy to focus on strengthening its core brand.
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NewsRetailer anger follows call with ‘rude’ business secretary Kwarteng
Retailers’ relations with new business secretary Kwasi Kwarteng have got off to a rocky start after a bad-tempered call this week.
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NewsIssa brothers complete £6.8bn acquisition of majority Asda stake
The Issa brothers and investment vehicle TDR Capital have confirmed the brothers’ acquisition of Asda for £6.8bn.
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NewsRussia’s pound shop to launch London IPO
Fix Price, Russia’s version of Poundland, has set a course for a London stock market listing.
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NewsDunelm’s Will Adderley to sell shares as homewares boom continues
Dunelm’s deputy chair and biggest shareholder Will Adderley is set to reduce his stake in the company.
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NewsDeliveroo targets March 8 for stock market debut
Deliveroo could launch its blockbuster stock market float in as little as three weeks.
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NewsMade.com considers potential for IPO
Online furniture specialist Made.com is considering options including a flotation that could value it at more than £500m.
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NewsArcadia property sales raise hopes for retailer’s pensioners
Pensioners at Sir Philip Green’s collapsed Arcadia fashion empire may receive more from their savings than originally feared, following property disposals.
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NewsBurberry becomes first non-essential retailer to return business rates relief
Luxury fashion giant Burberry is to voluntarily hand back savings made through business rates relief during the Covid-19 pandemic.
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NewsAsda buyers’ junk bond sale raises £2.75bn for deal
Asda buyers the Issa brothers and their private equity partners have raised a record sterling junk bond to fund the acquisition.
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NewsTed Baker warns of £5m Brexit bill as festive sales slide
Ted Baker has warned it faces £5m of additional costs associated with Britain’s exit from the EU as it grapples to revive its fortunes.
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NewsRetailers lose £22bn in sales during coronavirus lockdowns
Retailers lost £22bn in sales last year after nationwide lockdowns decimated the performance of physical stores.