All City & finance articles – Page 88
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News‘The worst is yet to come’ on food prices warns ex-Sainsbury’s boss
Former Sainsbury’s chief executive Justin King has warned consumers “the worst is yet to come” on food prices amidst warnings that doubledigit inflation could last for more than a year.
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NewsBoots deal in the balance as banks stop lending
The long running auction for Boots is in danger of imploding as the ongoing cost-of-living crisis spooks prospective buyers and debt markets freeze up.
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AnalysisAnalysis: Basket sizes shrink and customers trade down at Tesco as cost-of-living crisis worsens
While Tesco delivered a steady set of first-quarter results, boss Ken Murphy is braced for worse to come this year as he outlined changing customer behaviour in response to soaring costs.
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NewsTesco sees signs of changing shopper behaviour as inflation bites
Tesco has reported “early signs” that shopper behaviour is shifting as the soaring cost of living bites.
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NewsHalfords warns on profits in face of cost-of-living crisis
Halfords has downgraded its profit expectations for the full year despite a rise in sales and profits.
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NewsBoohoo sales decline as elevated returns plague fast fashion
Boohoo has recorded a decline in sales against strong comparables year on year.
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Opinion‘Only with economically unsustainable competition removed can the economy reset’
The fiscal stimulus in response to Covid lowered the cost of capital, flooding business models that didn’t deserve funding with valuations that were, at times, eye-watering. The upshot of excess stimulus is the inflation every business is now faced with, says True co-founder Matt Truman.
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NewsZalando amps up content creation with Highsnobiety acquisition
Fashion platform Zalando is aiming to boost its content skills with the acquisition of media group Highsnobiety.
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Retail VoiceCost of living: The top three questions for retail leaders as the crisis deepens
With the cost of living spiralling and consumers facing increasingly challenging times, Fourth’s Sebastien Sepierre examines how retailers can further support their own workforce.
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NewsMorrisons owners mulls £600m warehouse sale
The private equity owners of Morrisons are considering a sale of its food production arm as costs across the grocer bite.
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AnalysisAnalysis: As DFS and ProCook warn on profits, has the homewares sector lost its spring?
The homewares sector has enjoyed a boom over the past two years but, with DFS and ProCook issuing the latest in a string of profit warnings, has the pandemic bubble burst?
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NewsReliance and Apollo team up to lodge £5bn binding bid for Boots
Reliance Retail and Apollo are understood to have made a formal offer for Boots, which would allow current owner Walgreens to retain a significant minority stake.
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NewsCD&R clears final hurdle for £7bn Morrisons acquisition
Clayton, Dubilier & Rice (CD&R) has been given the all-clear to complete its £7bn acquisition of Morrisons after the competition watchdog agreed to its offer to sell some petrol forecourts.
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InterviewThe Amazon of washing machines: How Marks Electrical is taking on the titans
In a volatile and inflationary electricals market, Marks Electrical has bucked sector trends by growing both sales and market share. Retail Week speaks to chief executive Mark Smithson about how his business is outcompeting its more established rivals
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NewsAO scraps German business following strategic review
Electrical goods etailer AO.com has taken the decision to close its German business after eight years of trading, following a strategic review into its performance.
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Opinion‘CMA will act to protect shoppers from price fixing’
The Competition and Markets Authority receives more complaints about price fixing than any other infringement of competition law, says its senior director of antitrust Ann Pope – and it will not hesitate to clamp down on offenders
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NewsZara owner Inditex posts sales and profit rise despite Ukraine war impact
Fashion giant Inditex, owner of Zara, has reported a suresulrge in sales and profits but booked a substantial provision for the costs of Russia’s invasion of Ukraine.
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Opinion‘JD Sports must call on bench strength to stay top of the league’
For about as long as anyone can remember, JD Sports has stood proudly on the top of the podium in its field, but it is looks as if the retailer has lost its form, writes George MacDonald
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NewsTed Baker sale in doubt as preferred bidder pulls plug on deal
The proposed sale of Ted Baker has been thrown into doubt after the board’s preferred bidder dramatically backed away from a deal.
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AnalysisAlex Russo: The man stepping into some of retail’s biggest shoes as B&M boss
Taking the helm of a business from an entrepreneurial founder is often a challenge. On top of that, new B&M chief executive Alex Russo is facing volatile market conditions that already mean profits this year are likely to be below last.