All City & finance articles – Page 35
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NewsFormer Wilko owner does not expect to help fix pension hole
The former owner of Wilko has said it does not expect to help fix the estimated £70.2m pension hole following the retailer’s collapse last year.
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NewsCarpetright sister business The Floor Room has collapsed into administration
Carpetright’s sister brand, which trades out of John Lewis stores, has collapsed into administration with the loss of 200 jobs.
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NewsAsda chair says he is ‘embarrassed’ by performance as he urges co-owner to step back
Asda chair Lord Stuart Rose has said he is “embarrassed” by the supermarket giant’s market share retreat and called on co-owner Mohsin Issa to take a step back from the day-to-day running of the retailer.
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NewsUnder Armour sales have fallen as it undergoes restructuring
Under Armour has reported a fall in sales in the first quarter of 2024 alongside a restructuring plan for the business.
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NewsMountain Warehouse has returned to profit as it eyes Carpetright stores for expansion
Outdoor specialist Mountain Warehouse is looking to potentially take over former Carpetright stores after it reported a return to profit in the full year ending February 29, 2024. tores as it reported a return to profit in the full year ending February 2024.
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AnalysisAsda’s three new priorities to turnaround tumbling sales and evaporating market share
After a dismal set of financial results for the first half of the year, Asda has three new key priorities for the remainder of the year that it hopes will right the ship
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NewsAsda owner has blamed the ‘challenging retail environment’ as revenues and like-for-likes slump
Asda owner Mohsin Issa has blamed what he called a “challenging retail environment” for falling revenues and a slump in like-for-like sales at the grocer.
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NewsDeliveroo has praised ‘strong growth’ in grocery after striking new retail partnerships
Deliveroo has enjoyed “strong growth” in grocery sales and expanded non-food retail partnerships with major brands in the UK and United Arab Emirates (UAE).
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NewsMarks Electrical profits have plummeted in ‘challenging but rewarding year’
Marks Electrical profits have slumped even while sales increased in what its CEO described as a “challenging but rewarding year” for the retailer.
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Opinion‘Amazon is feeling the heat from Temu – the question is what to do about it’
Amazon’s latest update shows it is at a tipping point, believes Lisa Byfield-Green
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AnalysisNext has posted weather-busting, expectation-beating results – what do the analysts say?
Fashion powerhouse Next knocked the numbers out of the park in its second quarter when full-price sales climbed 3.2% year on year.
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NewsPets at Home has maintained profit guidance as sales remain resilient
Pets at Home has reported a growth in total sales in line with expectations as it maintains its profit guidance for the full year.
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NewsNext has increased profit guidance as sales exceed expectations despite bad weather
Next has increased its full-year profit guidance as sales grew in the second quarter despite bad weather dominating most of the summer.
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NewsAdidas has posted an increase in sales following major football tournaments
Adidas posted an increase in revenue in the first half of the year driven by strong brand momentum and sporting events such as Euro 2024 and the Copa América.
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NewsWickes retail sales grow against a ‘challenging background’ even as the group struggles
Wickes has reported continued sales and volume growth across its core retail business, even as group sales and like-for-likes slipped against a ‘challenging background’.
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Opinion‘People are starting to feel richer and that should translate into higher retail spending’
The first half of the year may have been challenging but the months to come – including the golden quarter – hold more promise, believes Lisa Hooker
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InterviewQ&A: Greggs boss Roisin Currie on price rises, new stores and taking on McDonald’s
Greggs chief executive Roisin Currie talks inflation and prices rises, looking at former Carpetright and Ted Baker stores, winning share from the fast-food giants and whether the Euros and Olympics have prompted an uptick in spend
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NewsOcado is extending its debt maturities by raising millions of pounds in bonds
Online supermarket and tech giant Ocado is extending the maturity of its debt by raising bonds worth millions of pounds.
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AnalysisWhat to look out for in Next’s results after the washout weather for fashion retailers
Next will be hoping to wow shareholders with yet another stellar performance when it publishes its second-quarter update for the 26 weeks to July 27, 2024 on Thursday. But with washout weather dominating the months of April to July, has Next managed to weather the storm? Retail Week explores what might be coming next.
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NewsBoohoo lenders have tapped advisers to talk refinancing as debt deadline looms
Lenders to the Boohoo Group have reportedly drafted in advisers to discuss refinancing options for the business amid ongoing losses.