All City & finance articles – Page 159
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NewsCoronavirus: Kingfisher cautions on sales uncertainty as France locks down
DIY giant Kingfisher has warned of ”significant uncertainty on sales and demand” after closing its 221 stores in France.
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NewsCoronavirus: Primark warns of sales hit as overseas stores shut
Value fashion giant Primark expects to take a hit on earnings after having to close overseas stores amid the coronavirus crisis and seeing a fall in like-for-likes in the UK.
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NewsCoronavirus: Grocers issue stockpiling plea and stores close worldwide
The UK’s big grocers appealed for calm over the weekend as shoppers continued to empty shelves in coronavirus stockpiling, while around the world-leading retailers closed stores en masse as the crisis bit.
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NewsPoundland parent delays flotation amid coronavirus volatility
Stock market volatility triggered by coronavirus fears and the unrelated illness of boss Andy Bond has prompted Poundland owner Steinhoff to hold off on floating the value retailer.
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NewsIntu on the brink after reporting £2bn valuation loss
Shopping centre giant Intu has reported a £2bn loss for its last financial year and warned it is at risk of going under if it cannot raise more funds.
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NewsMoss Bros to be bought by Crew Clothing owner Michael Shina
Moss Bros is set for a return to private ownership after agreeing terms on a cash bid from the owners of Crew Clothing.
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NewsAdidas and Puma profits battered by coronavirus
Sportswear giants Adidas and Puma have suffered a drop in sales in China as a result of coronavirus and warned the disruption would impact other markets.
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NewsWHSmith warns on profit as coronavirus hits travel business
WHSmith has slashed its full-year profit forecast as the coronavirus pandemic takes it toll on its travel division.
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NewsInterest rates slashed in emergency move ahead of budget
The Bank of England has this morning announced an emergency cut in interest rates in a bid to shore up the faltering economy hit by the gathering coronavirus outbreak.
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NewsB&M completes sale of German business
Value retailer B&M has completed the sale of its German business Jawoll, five months after opening a strategic review into its performance.
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OpinionBryan Roberts: Tesco’s Asian windfall would be better spent on stores
The ongoing unravelling of the great retail globalisation myth has taken its latest step with the news that Tesco has completed its withdrawal from Asia, through the proposed sale of its operations in Thailand and Malaysia.
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NewsFrench Connection swings to loss as UK woes continue
French Connection has swung to a loss after a worse-than-expected year and says the chances of trading improving in the UK in the foreseeable future are unlikely.
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NewsDFS profits fall as coronavirus plays havoc with full-year guidance
DFS has reported a decline in both profits and sales and warned that the developing coronavirus outbreak has made it impossible to give accurate guidance on its full-year results.
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NewsUsdaw calls on chancellor to ‘save our shops’ ahead of budget
Usdaw has added its voice to retailers in calling on the chancellor to deliver urgently needed business rates reforms to “tackle the retail sector crisis”.
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NewsReiss profits and sales soar after ‘strongest’ results in its history
Reiss has reported soaring profits and sales for the last financial year, in what the brand described as its “strongest” set of results in its history.
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NewsJohn Lewis pays lowest bonus since 1953 as profits slump
John Lewis Partnership will pay staff its lowest bonus for more than 60 years after suffering a drop in full-year profits and a write-down in the value of its property.
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NewsB&Q and Screwfix owner Kingfisher relegated from FTSE 100
DIY giant Kingfisher has been booted out of the FTSE 100 following its quarterly review.
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OpinionOpinion: The CMA is on a power trip – and retail should be worried
Lord Andrew Tyrie hasn’t written his memoirs yet. If and when he does, he might want to consider borrowing the title: How to Lose Friends and Alienate People.
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NewsIntu to explore options after £1.5bn equity raise fails
Intu has failed to raise the £1.5bn needed to refresh its credit ahead of publishing its full-year financial results next week, but said it remained hopeful of fixing its balance sheet.
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NewsGreggs profits and sales climb in ‘exceptional’ year
Greggs has reported a strong rise in full-year profits and sales but warned that its current year’s financial performance could be hit due to “the potential impact of coronavirus”.