All City & finance articles – Page 40
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NewsBoohoo calls on shareholders to reject Frasers’ proposals as losses deepen
Boohoo has this evening called on its shareholders to vote against all the proposals set out by Frasers, insisting its existing board can turn the ship around even as its losses deepened in the first half.
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NewsPeel Hunt downgrades profit forecasts for six retailers due to Budget impact
Investment bank Peel Hunt has downgraded its profit forecasts for six retailers, including struggling fast fashion player Boohoo and cycling and motoring specialist Halfords, due to the effects of changes to national insurance made in the recent Budget.
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NewsMarks Electrical profits dip despite growth in sales
Marks Electrical has posted a dip in half-yearly profits despite a growth in sales as consumers traded down to non-premium products, reducing profit margins.
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NewsTesco set for £1bn national insurance bill over four years
Supermarket chain Tesco is set to face a £1bn national insurance tax bill over the next four years following the recent Budget.
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NewsLord Rose: ‘Business has been clobbered’ by the Budget and Trump election will stimulate growth
The defacto interim chief executive of supermarket giant Asda Lord Stuart Rose has joined the chorus of senior retailers slamming the recent Budget as “unhelpful” while being cautiously optimistic about Trump’s election win stimulating economic growth.
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NewsBoohoo outlines ‘concerns in relation to Frasers’ behaviour’ as battle continues
Boohoo has written a new letter highlighting “concerns in relation to Frasers’ behaviour” as the two retailers continue their public battle over the company.
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NewsBurberry has named a former exec as its new product boss
Luxury fashion retailer Burberry has announced the appointment of a former executive as its new chief product merchandising and planning officer.
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NewsSainsbury’s sales and profit rise driven by grocery market share gains
Sainsbury’s has posted growth in half-year sales and profit as the food business goes from “strength to strength”
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AnalysisWhy Marks & Spencer is confident on growth despite £60m Budget ‘double whammy’
After smashing interim results expectations, Marks & Spencer chief executive Stuart Machin sees plenty of opportunity to keep up momentum across the board – despite unwelcome extra costs following the recent Budget.
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NewsPandora hails growth after scaling up investments in personalisation and brand perception
The jewellery specialist Pandora hailed 11% organic growth in its third quarter after focusing on investing in customer experience and brand perception.
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NewsM&S profits and sales soar as strong food and clothing sales drive growth
Marks & Spencer’s profits and sales have soared, driven by strong sales performances from its food and clothing businesses.
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NewsZalando’s sales and profits are up after ‘strong start’ to new season
Online fashion giant Zalando has reported a “strong” third quarter as sales and profits surged amid “increasing consumer demand”.
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NewsBoots expects this Black Friday to be its ‘biggest-ever’
Exclusive: The UK’s largest health and beauty retailer expects this Black Friday to be its biggest ever for deals - and, it hopes, for sales - as it gears up for a month of promotions and offers, Retail Week can reveal.
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NewsPrimark profits rocket as sales climb
Value clothing powerhouse Primark has posted a big rise in full-year profits, helped by factors such as lower costs.
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DataRanking: The top 25 fastest-growing retailers show how we shop the ‘new normal’
Thanks to the Interpath Retail Index 2024, Retail Week can reveal the top 25 fastest-growing retailers and what they tell us about how shoppers behave in the ‘new normal’. To read the full report and see the full list of fastest-growing retailers which goes up to 100, click here.
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NewsUK retail sales show marginal increase as economic uncertainty spooks consumers
Retail sales in the UK improved marginally in October as “uncertainty during the run-up to the budget” and “rising energy bills” spooked consumers.
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NewsMike Ashley lashes out at ‘desperate’ Boohoo over CEO snub
Frasers owner Mike Ashley has hit out at fashion retailer Boohoo, calling its decision to snub his demand to be made CEO in favour of promoting from within “desperate”.
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NewsCurrys has promised that none of its Black Friday deals have been cheaper in the last six months
Electricals giant Currys has made a commitment to ensure that none of its 3,000-plus Black Friday deals have been cheaper in the last six months.
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NewsAmazon profits and revenues exceed expectations off the back of strong retail performance
Amazon posted profits and sales ahead of market expectations overnight, driven by a strong retail performance in its third quarter.
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NewsBoohoo snubs Ashley demand as it names Debenhams boss as new chief executive
Boohoo has snubbed the demands of its largest shareholder by appointing former JD Sports and current Debenhams boss Dan Finley as its new group chief executive.