Latest finance news – Page 109
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NewsAsda chair Rose urges VAT cut to combat cost of living crunch
Asda chair Lord Stuart Rose believes the government should consider reducing VAT or further cutting fuel tax to help ’kill’ inflation, which is prompting shoppers to limit their spending.
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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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NewsWest End retail property giants press button on merger
Property companies Shaftesbury and Capco are to merge, bringing the control of some of central London’s best-known shopping districts under single ownership.
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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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NewsH&M sales jump as post-pandemic recovery marches on
H&M has continued its post-pandemic recovery with sales across all markets jumping 12% in its second quarter.
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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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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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NewsProCook warns on profits as shoppers ‘tighten their belts’ amid cost-of-living crunch
ProCook has said sales and profits for its current financial year will be behind previous forecasts as shoppers face “exceptional pressures on discretionary spend”.
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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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NewsPoundland parent’s sales and profits rise as UK shoppers rein in ‘essential’ spending
Poundland owner Pepco Group has said UK shoppers are “scaling back even on essential purchases” amid the cost-of-living crunch.
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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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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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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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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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NewsDr Martens profits surge as it upgrades sales guidance
Dr Martens has posted a surge in profitability and upgraded sales guidance for its new financial year as its direct-to-consumer strategy drives performance.
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NewsShop prices soar in May but inflation to ‘get worse before it gets better’
Shop prices rose further in May as inflationary pressures took their toll on retailers’ margins.
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NewsB&M names new chief executive as profits come in flat
Value giant B&M has promoted chief financial officer Alex Russo to become chief executive and reported flat full-year profits.