All City & finance articles – Page 60
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NewsNike plans $2bn cost savings as it posts soft sales outlook
Nike has outlined plans to make $2bn (£1.6bn) in cost savings over the next three years as demand slows and it looks ahead to a “softer” second-half sales outlook.
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NewsAsda faces £30m rise in debt costs as bosses grilled by MPs
Asda could have to pay increased interest payments of £30m from February as owners Mohsin and Zuber Issa’s loans become due.
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NewsSuperdry warns on profits as tough trading conditions and weather take toll
Fashion retailer Superdry was warned that profits will be lower than expected after trading ”significantly below management expectations”.
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NewsH&M sales flat again after 'unusually hot weather'
H&M has posted “flat” sales in its fourth quarter as the previous warning of “unusually hot weather” took its toll on autumn ranges.
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NewsNaked Wines losses widen and sales fall
Naked Wines has reported a loss and a drop in sales as it starts moving towards “sustainable cash generation”.
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Opinion‘“No change” may be as good as it gets for retail this Christmas’
Shoppers are spending – but selectively. As retail’s golden quarter nears its crescendo, that was one of the messages from Currys chief executive Alex Baldock as the electricals giant revealed first-half results.
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NewsCurrys boss Baldock optimistic about Christmas as customers ‘treat themselves’
Currys chief executive Alex Baldock said customers have been “treating themselves” this year and he was positive about the festive season.
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NewsMusic Magpie credits record Black Friday for boosting performance
Music Magpie said a record Black Friday period has helped “offset a softer H1” as it posted its pre-close trading update to November 30, 2023.
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NewsCurrys sales decline but profit guidance holds
Currys reported a decline in group revenue for the six months ending October 31, but made no change to profit guidance as trading remained in line with expectations.
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NewsLondon Designer Outlet reports record Black Friday
London Designer Outlet (LDO) at Wembley Park has recorded a record Black Friday, exceeding last year’s record sales performance by 8.6%.
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NewsProCook boss expects profit to break even as it plans return to growth
ProCook chief executive Lee Tappenden has said he is “cautiously optimistic” about Christmas trading following a strengthened Black Friday performance.
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NewsProCook shows strong golden quarter trading
ProCook losses have improved, but the retailer is still in the red despite outperforming the market over Black Friday and the early part of Christmas trading.
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NewsRevolution Beauty reaches legal settlement with co-founder
Revolution Beauty has announced it has reached a £490,000 settlement agreement with co-founder Tom Allsworth.
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NewsPepco posts ‘disappointing profit outturn’ despite record sales
Discount retailer and Poundland parent company Pepco Group has posted a “disappointing profit outturn” after record European store openings and despite a record 17.7% growth in full-year revenue.
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NewsSosandar swings to loss despite growth in revenue
Sosandar reported a loss in the first half of the year despite a growth in revenue as it continues to move towards a multichannel model.
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NewsShein considers potential for UK IPO
Fast-fashion giant Shein is reportedly in talks with the London Stock Exchange about the possibility of a public listing in the UK.
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NewsLululemon hails strong ‘early performance’ ahead of Christmas
Sportswear retailer Lululemon has posted a “strong” third quarter and hailed its “early performance” ahead of the peak Christmas trading period as the brand continues to resonate with shoppers globally.
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InterviewQ&A: Frasers CFO Chris Wootton on luxury demand and future acquisitions
As Frasers reports an increase in sales and profit across its portfolio, driven by the group’s elevation strategy, Retail Week speaks to chief financial officer Chris Wootton about what’s next for the retail powerhouse
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NewsActivist investor Kelso urges THG to demerge business
Activist investor group Kelso Group Holdings has urged ecommerce giant THG to consider a demerger of its three business divisions “to maximise shareholder value”.
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NewsWatches of Switzerland flat sales offset by ‘strong momentum in US’
Watches of Switzerland has posted flat group sales that were strengthened by its trading performance in the US.