Latest finance news – Page 123
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NewsHarrods swings to a loss as pandemic and Brexit take heavy sales toll
Harrods has swung to a loss after store closures during the pandemic and the impact of Brexit slashed sales in half.
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NewsZalando upgrades outlook as sales climb and brand collaborations boom
Zalando has recorded rising sales in the first quarter in which all markets in which it operates were fully reopened.
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NewsNext braces for supply chain woes to dampen Christmas trading
Next has reported a stronger than expected uplift in sales in its third quarter, but expects falling demand and availability issues to impact sales for the remainder of its financial year.
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NewsPets at Home boss Peter Pritchard to step down next year
Pets at Home chief executive Peter Pritchard will stand down from his role next May, with a search for his successor underway.
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NewsBezos pledges $2bn to fight climate change in COP26 speech
Amazon founder Jeff Bezos has pledged to donate $2bn for land restoration in Africa as part of his Bezos Earth Fund.
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NewsTHG shares plummet to record low as BlackRock sells half its stake
THG’s largest institutional investor BlackRock has sold almost half of its shares as the online retailer faces ongoing concerns around its corporate governance and business model.
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NewsFrench Connection takeover approved by shareholders
French Connection shareholders have backed a £29m takeover deal to save the struggling fashion brand.
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NewsJohn Lewis Partnership inks £420m financing deal tied to sustainability targets
John Lewis Partnership has agreed to a new, five-year revolving credit facility in which the interest rate is linked to environmental ambitions.
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NewsAmazon warns of soaring supply chain costs as profits halve
Amazon has posted a plunge in quarterly earnings and expects to bear vast costs as it confronts supply chain and labour shortage challenges.
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NewsVirgin Wines posts first profit as public company as customer numbers soar
Following its IPO, Virgin Wines has recorded sales and profits growth, as more customers turned to shopping online.
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NewsSunak unveils £7bn reduction in business rates but refuses to scrap system
Chancellor Rishi Sunak has unveiled a raft of measures to reduce business rates but stopped short of fundamentally overhauling the system.
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NewsWickes hails ‘resilient’ performance as it swerves supply chain slowdown
Wickes has reported a slip in third-quarter sales against strong comparatives, but sales rose strongly on a two-year basis.
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NewsTHG sales leap as boss Moulding looks to rebuild investor confidence
The Hut Group (THG) has reported increasing revenues across its different categories and Ingenuity platform as boss Matt Moulding looks to win back fleeing investors.
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NewsMissguided seeks emergency funding as supply chain crisis hits finances
Missguided has drafted in restructuring experts to secure emergency funds as the supply chain crisis batters the fast fashion firm.
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NewsClarks slumps to record losses due to Covid-19 restrictions
Footwear specialist Clarks has slumped to record losses in its more recent full-year results due to coronavirus restrictions and store closures.
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NewsUnilever hikes prices as inflationary pressures bite
Unilever has hiked prices and warned of further inflationary pressure next year amid rising costs for energy and raw materials.
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NewsJD Sports snaps up Greek retailer Cosmos
JD Sports has acquired a controlling stake in Greek retailer Cosmos as it presses ahead with its international expansion drive.
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NewsPayPal bid for Pinterest could create new ecommerce powerhouse
PayPal has made a bid for social media giant Pinterest, sparking rumours of a new force in ecommerce.
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NewsHammerson to end rent support for retailers as footfall returns
Shopping centre operator Hammerson has said it will focus on collecting rent arrears from tenants now that footfall has picked up.
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NewsDeliveroo sales soar despite hospitality reopening
Deliveroo reported a surge in orders across the UK and Ireland, and a doubling of Plus members through its Amazon Prime tie-up, despite the reopening of hospitality.