All City & finance articles – Page 88
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NewsNext ups profit guidance as Christmas sales beat expectations
Fashion powerhouse Next has increased its earnings guidance after a strong Christmas performance.
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NewsWilko secures £40m lifeline as it reshuffles non-executive board
General merchandise retailer Wilko has secured a £40m funding lifeline from noted high street lender Hilco and has announced a change at the head of its board.
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NewsJoules owed more than £100m when it hit the wall
Fashion retailer Joules was nearly £114m in the red when it collapsed last month.
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NewsAsos shareholders urged to rebel at AGM next month
Troubled online fashion giant Asos faces the prospect of a shareholder rebellion at next month’s AGM.
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NewsMade.com customers to be left £12m out of pocket, warn administrators
Tens of thousands of Made.com customers will collectively lose out on £12m worth of deposits made around the time the retailer collapsed into administration.
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NewsMatalan outlines timeframe for completion of sale
Embattled fashion retailer Matalan says it has received bids from a “number of interested parties” and expects to complete the sale process by the end of January.
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NewsOak Furnitureland defies sector gloom as it returns to profitability
Oak Furnitureland has defied ongoing pandemic-induced disruption and soaring inflation in freight and raw materials to post a 10% year-on-year uplift in group revenue and a return to profit.
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AnalysisWho will be retail’s winners and losers in 2023?
Who will thrive and who will flounder in 2023? Retail experts share their tips for the year ahead
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NewsOne third of UK consumers to cancel holidays next year as they brace for recession
A third of UK consumers are set to cancel holidays and home improvement projects in 2023, as discretionary income continues to erode and the country faces the prospect of a long recession.
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NewsMatalan founder Hargreaves tables last-ditch bid to retain control
Matalan founder John Hargreaves has lodged a final offer for the clothing chain in a last-ditch bid to retain control of the business.
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NewsIkea UK sales jump as post-pandemic customers invest more in their homes
Ikea’s UK sales jumped 13% as customers looked to invest more in their homes, both in store and online, post-pandemic.
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NewsFrasers Group snaps up 15 fashion brands from rival JD Sports
Frasers Group has struck a £47.5m deal to acquire a string of fashion brands from its sportswear rival JD Sports.
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AnalysisCurrys boss Baldock on a tale of two markets – a Nordic slump vs UK resilience
Currys chief executive Alex Baldock painted a picture of starkly different markets as he unveiled the retailer’s interim results
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NewsAsos appoints new non-executive director in board reshuffle
Embattled pureplay fashion retailer Asos has appointed a former Amazon executive to its board as it looks to push ahead with its recently unveiled 12-month turnaround plan.
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NewsMountain Warehouse targets openings for new store format
Outdoor clothing specialist Mountain Warehouse plans to open more big stores and expects to be back in the black this financial year.
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NewsWatches of Switzerland clocks up rise in profits as store expansion drives sales
Watches of Switzerland has registered a spike in profits as its investments in new showrooms and store refurbishments bore fruit.
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NewsProCook swings to loss despite ‘good strategic progress’
ProCook has swung to a half-year loss after suffering a slide in sales against tough comparatives.
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AnalysisAnalysis: How are retailers mitigating the downfall of the pound?
What does a weakened pound mean for UK retailers? Who is feeling the pinch most? And what can they do to mitigate the problem?
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NewsSupermarket shoplifiting soars amid cost-of-living crisis
Shoplifting from supermarkets has surged 16% in the run-up to Christmas as the ongoing cost-of-living crisis piles pressure on consumers.
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NewsSosandar swings to profit and hails ‘record’ Black Friday sales
Sosandar has swung to a half-year profit and delivered a bullish update on current trading as it targets sales momentum.