Latest finance news – Page 107
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NewsJoules upgrades profit forecast and extends borrowing facility
Joules has said its profits will be slightly ahead of expectations for the year and has secured an extension of its credit facility.
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NewsIn The Style edges to a loss despite strong sales growth
In The Style fell into the red with its first full-year results as a listed company, as boss Sam Perkins warned that the year ahead would be “a challenging one for consumers and retailers” and lead to widening losses.
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NewsMade.com and Hotel Chocolat issue profit warnings
Made.com and Hotel Chocolat have both issued warnings over their profits, with the furniture retailer citing supply chain costs and low consumer confidence while the confectionary business plans a transitional year to focus on its most profitable markets.
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NewsNext underpaid staff for months after IT problems
Next has apologised to staff after the botched integration of new IT systems caused swathes of its workforce to be underpaid for months.
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NewsDeliveroo slashes sales forecasts as ‘consumer headwinds’ hinder growth
Deliveroo has slashed its full-year sales forecast as “increased consumer headwinds” slam the brakes on growth.
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NewsBurberry sales rise as domestic spend surpasses pre-pandemic levels
Burberry has posted a modest uplift in first-quarter sales as a decline in revenues in mainland China was offset by demand from shoppers across Europe, the Middle East, India and Africa.
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NewsPoundland owner Pepco’s sales soar as it increases store expansion plans
Pepco has upped its store expansion goals for the year to drive further growth.
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NewsDr Martens sales rise driven by wholesale and retail recovery
Dr Martens has recorded strong sales in the first quarter as its business continued to recover in all areas post-pandemic.
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NewsMorrisons faces CMA probe into McColl’s rescue bid
The UK’s competition watchdog has launched an investigation into the takeover bid for convenience specialist McColl’s by supermarket giant Morrisons.
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NewsNine in 10 UK retail chairs expect consumer spending to fall over next year
Ninety-five per cent of UK retail chairs forecast a drop in shopper spending over the next year, as Boots’ parent company chair Stefano Pessina said the UK would likely have a “bigger” recession than other EU countries.
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NewsSosandar narrows losses as ‘normal trading conditions’ return
Sosandar has narrowed its full-year losses and hailed the return of “normal trading conditions” following the impact of the coronavirus pandemic.
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NewsUK on verge of dairy shortages warns Lurpak owner
The UK is facing the prospect of a shortage of dairy products as a lack of workers has forced farmers to slash production, the country’s biggest milk and butter producer has warned.
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NewsJoules drafts in KPMG for help as cost-of-living crisis bites
Joules has drafted in advisors from KPMG to help improve profitability, cash flow and liquidity as the cost of living crisis has leached away consumer demand.
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NewsApple’s UK stores paid only £800,000 in tax despite surging sales
Apple’s retail division paid just under £800,000 to HMRC, after utilising a stock option scheme loophole to minimise its tax burden.
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NewsJD Sports appoints Andrew Higginson as new chair
Fashion giant JD Sports has announced the appointment of former Morrisons non-executive Andrew Higginson as the new chair of the group.
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NewsWatches of Switzerland hails ‘strong momentum’ as profits surge
Watches of Switzerland has clocked up a surge in profits and insisted it has built “strong momentum” as it bounces back from the coronavirus crisis.
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NewsCurrys posts rise in profit but warns of ‘uncertain’ outlook
Currys has posted an increase in full-year earnings but cautioned that “the outlook for consumer spending is uncertain” as the cost-of-living crisis mounts.
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NewsAO launches £40m share placing after insurer cuts cover
Pureplay electricals giant AO is aiming to raise £40m through a share placing weeks after its credit insurance for suppliers was cut.
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NewsM&S defends Rowe bonus in face of significant investor revolt
Marks & Spencer has defended its stance on director remuneration – including that of departing chief executive Steve Rowe – after a substantial proportion of investors opposed the package.
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NewsSainsbury’s reports sales drop as finance chief steps down
Sainsbury’s has posted a fall in first-quarter sales and named a new chief financial officer to replace Kevin O’Byrne.