All City & finance articles – Page 121
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NewsFrasers Group interim profits rise spurred by rates relief and online sales
Frasers Group reported a strong uplift in profits at the interim mark despite what chair David Daly describes as a “lack of clarity of guidance” from the government during the pandemic so far.
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NewsGovernment extends commercial evictions ban until April
The government is extending the moratorium on commercial tenant evictions until March 31, 2021.
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NewsTesco gets green light to complete sale of Asia business
Tesco is poised to complete the £8bn sale of its Thai and Malaysian business after buyer CP Retail Development Company rubber-stamped the deal.
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NewsCompetition watchdog to investigate Issa brothers’ Asda acquisition
The competition watchdog has launched a probe into the Issa brothers’ £6.8bn takeover of Asda.
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AnalysisAnalysis: Who will be retail’s winners and losers this Christmas?
It’s been a highly unusual year for retail, which has not been without its casualties. As ‘non-essential’ stores emerge from the second lockdown and shoppers swap Christmas parties for working from home and smaller gatherings, which retailers are set to reap the benefits of an unorthodox festive season?
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NewsStudio Retail prepares for sale as profits boom
Online value retailer Studio has announced plans to explore its sale options as profits and sales soared during the coronavirus pandemic.
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NewsJoules trading ‘ahead of expectations’ despite overall sales decline
Joules has recorded a strong uplift in ecommerce sales in its first half despite lost in-store sales throughout the lockdown periods.
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AnalysisHow retail changed my life: Tesco’s Rimal Patel – no longer a fish out of water
The life of Tesco’s online director Rimal Patel and his extended family has been shaped beyond recognition by the retail industry over the past five decades.
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NewsThe Hut Group raises sales forecast for second time since float
The Hut Group has bumped up its sales forecast for the second time since it floated in September, citing strong Black Friday and Cyber Monday sales.
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NewsTed Baker slips deeper into the red as revenues fall
Ted Baker has reported deepening losses before tax as its revenues fell and costs associated with the ongoing coronavirus pandemic rose.
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NewsPrimark posts ‘very strong’ sales after reopening post-lockdown
Sales at fashion powerhouse Primark have been “very strong” after stores reopened following national lockdowns, parent ABF reported.
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Opinion‘Arcadia tycoon Green – from retail’s King Midas to King Canute’
Topshop tycoon Sir Philip Green’s fall from grace has been so spectacular and so total that it’s hard to remember what a force he once was.
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NewsGreen family set to pay £50m into Arcadia pension pot within next 10 days
Sir Philip Green’s family is set to pay £50m into his crumbling fashion group’s pension pot in the next 10 days, as the business secretary called on the watchdog to investigate.
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NewsSainsbury’s and Morrisons to repay £714m business rates relief
Grocery chains Sainsbury’s and Morrisons have both followed Tesco’s lead by committing to repay a combined £714m of business rates relief.
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AnalysisAnalysis: Tesco’s rate repayment likely to trigger domino effect
Tesco’s decision to repay its business rates relief in full will almost certainly lead to a chain reaction of others following suit. But while other dominoes look set to fall, many in the industry are questioning Tesco’s true motives.
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NewsCosmetics etailer Beauty Bay mulls stock market listing
Manchester-based online retailer Beauty Bay is considering following in the footsteps of The Hut Group with a stock market float.
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NewsTesco to repay £585m business rates relief in full
Tesco will repay the business rates relief it received at the beginning of the coronavirus pandemic, which boss Ken Murphy has said is “absolutely the right thing to do”.
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AnalysisAs Arcadia and Debenhams collapse, what will the aftershock mean for retail?
As December, traditionally the height of retail’s peak trading period begins, two of the industry’s most venerable names have been brought low by the Covid earthquake that has shaken the industry.
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NewsDebenhams to go into liquidation with 12,000 jobs at risk
Debenhams is set to go into liquidation putting 12,000 roles at risk after JD Sports confirmed it had withdrawn interest in buying the ailing department store chain.
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NewsIssa brothers’ EG Group fails in Caffè Nero bid
EG Group, the petrol forecourts empire of Asda’s new owners the Issa brothers, has failed in a bid to buy Caffè Nero.