All City & finance articles – Page 76
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NewsAdidas sales flatline as Yeezy fallout deepens
Adidas posted flat sales in the first quarter of 2023, as the global sportswear giant admitted the loss of the Yeezy brand is “of course hurting us”.
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NewsBoohoo ‘demanding’ 10% discount from suppliers
Online fashion giant Boohoo has asked suppliers for a 10% discount on both its delivered and undelivered orders in a bid to control costs, according to a report in The Times.
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NewsApple’s dip in sales offset by demand for iPhone
Apple has posted a decline in sales in the second quarter, but demand for iPhones has held up overseas.
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NewsJoe Browns posts ‘strongest year to date’ as sales and profits boom
Fashion retailer Joe Browns has reported its “strongest year to date” as sales and profits rise despite facing “well documented” economic challenges.
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NewsZalando credits boost in revenue and ‘improved profitability’ to online shopping club
Zalando has credited a rise in revenue and “improved profitability” in its first quarter to increased demand for its online shopping club Lounge by Zalando.
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NewsSuperdry completes £12m equity raise
Superdry has successfully completed an equity raise of £12m as the retailer pursues a turnaround programme.
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NewsNext sales dip but remain in sync with guidance
Next has performed better than its sales guidance for the first quarter but said it was “too early in the year” to alter profit guidance.
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NewsOcado shareholders revolt over chief executive pay
Almost a third of Ocado shareholders voted against the £2m pay packet of chief executive Tim Steiner at its AGM on Tuesday.
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NewsWickes’ sales knocked by poor weather
Wickes has reported a slip in lIke-for-like sales as bad weather affected demand for seasonal lines.
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NewsCard Factory profits leap as shoppers return to stores
Card Factory has reported a surge in full-year profits as customers returned to stores and it had a strong Christmas.
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NewsSuperdry launches £12m fundraising to strengthen balance sheet
Fashion retailer Superdry has formally unveiled an equity raise to bolster its balance sheet as it pursues a turnaround programme.
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NewsCrocs raises outlook as revenues soar
Footwear retailer Crocs has raised its full-year outlook and credited a hike in revenues to the “strength” of its brands including Hey Dude, which it acquired last year.
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NewsAmazon beats expectations with latest results
Amazon did better than expected in its first quarter when sales and income climbed despite flat ecommerce sales.
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NewsHotel Chocolat cools expectations as Easter sales ‘lower than expected’
Hotel Chocolat expects sales to be slightly lower than market expectations and underlying profit before tax to break even in the 2023 financial year.
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NewsSainsbury’s profits decline as it fights to keep prices down
Sainsbury’s has reported a decline in profit as it “battles inflation” for customers, although its sales have edged up.
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NewsJohn Lewis chair White: ‘External investment would not be about end of partnership – far from it’
John Lewis chair Dame Sharon White has maintained that any external investment that may be brought in will not signal the end of the partnership, but will be a testament to the appeal of its co-owned model.
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NewsPret expands subscription service to cover all food and iced drinks
Pret a Manger has unveiled changes to its successful coffee subscription service, expanding the scheme to cover freshly made food, snacks and other drinks.
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NewsUK beauty sales driven by bricks and mortar as ecommerce falters
All beauty market gains came from in-store retail in 2022 as ecommerce sales across the whole economy in the UK fall to pre-pandemic levels, new research by the British Beauty Council has found.
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NewsPrimark sales surge as footfall climbs and margin is ‘better than expected’
Value fashion giant Primark has reported a surge in sales that it credits to “very good footfall and margin better than expected”, parent company ABF has reported.
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NewsGymshark profits decline for first time as operational costs rise
Gymshark posted a fall in profits for the first time despite an increase in revenue for the year ending in July 2022, as the group struggled with increasing operational costs.