All City & finance articles – Page 144
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AnalysisThe Big Question: Should there be a cap on CVAs for retailers?
As the coronavirus continues to hammer sales and customer footfall levels show no signs of returning to pre-Covid levels any time soon, more struggling retailers are turning to insolvency procedures such as CVAs to survive. However, with many brands having a second or third bite of the cherry, industry experts debate whether a cap should be put in place
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NewsFenwick full-year losses widen as pre-pandemic sales slide
Fenwick has suffered widening losses and falling sales in a what is described as an “extremely challenging” year, Retail Week can reveal.
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NewsFrasers Group chair in closed-period share-buying blunder
The non-executive chair of Mike Ashley’s Frasers Group accidentally bought shares in the retailer ahead of this week’s results.
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AnalysisMarks & Spencer job cuts – harsh medicine, but necessary
Marks & Spencer’s biggest round of job cuts ever has sent shockwaves through retail. Around 7,000 roles will be axed – and that is on top of 950 redundancies revealed just a month ago.
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NewsAsda eyes ecommerce expansion as online sales double
Asda has said it plans to expand its online delivery capacity to 1 million slots a week by next year after seeing online sales double in its second quarter.
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NewsGrocery sales lowest since pre-lockdown as market begins to return to normality
Sales of take-home groceries have fallen to their lowest levels since before the coronavirus plunged the UK into lockdown, according to the latest market share data.
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NewsSosandar remains in the red despite soaring sales
Sosandar reported another loss last year despite a jump in sales, with co-chief executives Ali Hall and Julie Lavington “cautiously optimistic” about the brand’s future.
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NewsGymshark surpasses £1bn valuation with fresh investment
UK sportswear brand Gymshark has secured unicorn status after a fresh fundraising round saw the company’s valuation pass £1bn.
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NewsMike Ashley’s Frasers Group bids for DW Sports
Mike Ashley has reportedly launched a bid for former rival Dave Whelan’s collapsed sports chain DW Sports.
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NewsDebenhams lines up Hilco amid liquidation contingency planning
Debenhams has appointed Hilco in the event that it does need to liquidate stock, but has stressed that this move is not imminent and would be a last resort.
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NewsPrimark, Tesco and other retailers partner with government on new supply chain fund
Some of the UK’s largest retailers have partnered with the government to help launch a fund designed to protect supply chains and support international workers.
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NewsNew Look launches CVA and recapitalisation
Embattled fashion retailer New Look has launched a company voluntary arrangement (CVA) in a bid to “rebase” its existing leasing portfolio.
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NewsTopps Tiles expects ‘modest’ profit as sales recover
Topps Tiles has said it now expects to turn a “modest” profit this year following a bounce back in retail sales.
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NewsWatches of Switzerland profits rise despite Covid-19 impact
Watches of Switzerland has posted an increase in full-year profits despite the impact of the coronavirus crisis.
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NewsTrain companies seek government aid for station retail tenants
Britain’s train companies are lobbying the government to introduce rent cuts and payment holidays for retail tenants at their stations to help them through the coronavirus pandemic.
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Opinion‘Mike Ashley’s Frasers Group is not just unconventional – it’s unprofessional’
When a stock market announcement comes through from Frasers Group, formerly known as Sports Direct, you never know what to expect. A rant from founder Mike Ashley at landlords, the government or his rivals? A shiny new acquisition? The resignation of its auditor?
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Opinion‘Retailers must recession-proof ahead of crunch Christmas’
Data released over the past few days has laid bare the extent of the challenge the UK economy faces over the coming months and years.
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NewsDr Martens’ profits climb as online sales soar
Footwear brand and retailer Dr Martens has posted a rise in annual sales and profits, helped by strong online growth.
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NewsJust Eat sales and earnings leap during lockdown
Food delivery service Just Eat as reported a surge in sales and earnings after the coronavirus outbreak spurred demand.
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NewsAsos profits to beat expectations as returns rate falls
Online fashion giant Asos expects sales and profits this year to come in “significantly ahead of market expectations”.