All City & finance articles – Page 7
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NewsWickes staff celebrate £14m return on share scheme
Employees of DIY retailer Wickes have more than doubled the value of their investment in a company sharesave scheme that has just matured.
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NewsQatar sovereign wealth fund dumps stake in Sainsbury’s
Qatar’s sovereign wealth fund is set to dump a significant chunk of its stake in grocery giant Sainsbury’s, ending its nearly two decades-long run as the businesses’ largest shareholder.
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NewsTopps Tiles incoming CEO hails ‘encouraging results’ as it swings back into the black
The incoming new chief executive of Topps Tiles has hailed the retailer’s “encouraging results” as it swung back to profitability for the full financial year.
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NewsTopps Tiles hires new chief financial officer
Topps Tiles has announced Caroline Browne will join the business as its new CFO.
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NewsModella eyes up Wynsors footwear chain for growing stable of retailers
Modella Capital is in discussions to buy up privately-owned retail chain Wynsors World of Shoes.
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AnalysisDefiant Leighton sticks to his guns as he vows to rebuild Asda ‘to its former glories’
Even as sales continue to slip, Asda’s credit rating is downturned and its private equity owners turn to sale and leasebacks of stores, executive chair Allan Leighton insists his turnaround strategy is working
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NewsAsda vows to ‘double down’ on strategy as like-for-likes slide
Asda has vowed to double down on its ‘Formula for Growth’ strategy, even as its total revenues and like-for-like sales dropped in the third quarter.
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InterviewQ&A: Halfords CEO Henry Birch on the Budget, AI and Black Friday
Halfords has posted growth in both profits and sales, driven by a strong performance from its cycling business. Chief executive Henry Birch spoke to Retail Week about his reaction to yesterday’s Budget, how the retailer is implementing AI and what the consumer sentiment is like ahead of Black Friday
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NewsRevolution Beauty blames profit warning on previous management
Revolution Beauty has blamed its latest profit warning on previous management and said it has been “encouraged” by the progress made since its founders returned to the business.
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NewsHalfords delivers profits and sales growth as cycling business leads the way
Halfords has announced growth in both profits and sales, driven in particular by a strong performance from its cycling business.
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NewsDebenhams proposes new executive pay policy as balance sheet strengthens
Debenhams Group has proposed a new ‘Group Turnaround Scheme’ remuneration policy for senior executives, as losses at the fashion retailer improved.
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AnalysisWhat’s in the Budget for retail and how has the sector reacted?
Everything unveiled by chancellor Rachel Reeves in today’s [November 26] Budget, and how the retail sector has reacted to it
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NewsGovernment confirms business rates surtax on larger commercial properties
The chancellor has confirmed the government will push ahead with introducing a surcharge on retail property rates above £500,000.
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NewsPets at Home unveils turnaround plan as retail sales continue to fall
Pets at Home boss Ian Burke has unveiled a turnaround plan for its flagging retail business that aims to cut prices and improve its product offering.
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NewsNext offloads land for £54m
Next has offloaded land that it acquired in 2021 to consolidate part of its distribution network for £54.1m.
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GalleryFirst look: Clarks unveils new look fascia on Tottenham Court Road
Footwear specialist Clarks has opened its new look fascia on Tottenham Court Road, calling the store “its most modern retail experience yet”.
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NewsMonsoon Accessorize returns to profit despite ‘tough consumer climate’
Adena Brands, parent company of Monsoon Accessorize, reported a “significant improvement” in trading and a return to profit.
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NewsChancellor delays axing of de minimis rule
Chancellor Rachel Reeves is reportedly not scrapping the de minimis rule in this week’s Budget, but plans to in 2029.
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NewsWatchdog considering investigation into WHSmith profit overstatement
The UK accounting regulator is considering whether to launch a formal investigation into PwC’s auditing of WHSmith following a £30m profit overstatement in its North American division.
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NewsAsos posts full-year earnings rise despite sales fall
Online fashion retailer Asos is “ready to reclaim our place as the most exciting destination for fashion-loving customers” after reporting an improved financial performance.