Latest finance news – Page 129
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NewsMusic Magpie profits and sales soar following float
Music Magpie has reported strong growth in profits and sales following its recent float on London’s junior market, with chief executive Steve Oliver hailing a “landmark period” for the retailer.
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NewsMorrisons’ largest shareholder hits out at Fortress takeover bid
Morrisons’ largest shareholder Silchester International has refused to give its backing to a £6.3bn takeover by US private equity firm Fortress.
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NewsLVMH sales soar as luxury goods come roaring out of pandemic
Luxury goods conglomerate LVMH has steamed ahead in its second quarter, driven by soaring sales of Louis Vuitton handbags and Moët & Chandon champagne.
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NewsTesco Bank to close all customer current accounts later in the year
Tesco Bank is closing all of its customer current accounts from the end of November and will write to those affected in the next two weeks to advise them on what to do.
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NewsMoonpig sales and profits soar in first full-year results since float
Pureplay greeting card specialist Moonpig has reported soaring sales and profits in its first set of full-year results since its IPO.
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NewsSelfridges starts formal auction as suitors circle
Selfridges’ owner the Weston family has begun a formal auction of the famous department store business.
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NewsSephora acquires online beauty retailer Feelunique as ‘first step’ into UK
Sephora has acquired online beauty company Feelunique, which chief executive Martin Brok hailed as the “first step for Sephora’s presence” in the UK.
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NewsMorrisons frontrunner Fortress hints at business review plan
Private equity firm Fortress has hinted that it would launch a wide-ranging review of the Morrisons business if it succeeds in its proposed £6.3bn takeover of the grocer.
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NewsPrivate equity battle for Morrisons set to intensify as CD&R mulls offer
The battle between private equity firms to take over grocery giant Morrisons is set to intensify, with reports that Clayton, Dubilier & Rice is working on another bid.
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NewsWickes sales soar in strong first half
Wickes reported strong sales in the first half of the year, with stores performing particularly well after reopening following the easing of coronavirus restrictions.
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NewsNext to repay business rates relief after sales surge
Fashion giant Next has increased its profit guidance for the financial year, with sales and profits “materially ahead” of expectations following a strong trading performance.
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NewsExclusive: Notonthehighstreet exec leaves to join private equity firm
Ella d’Amato has left her role as the chief commercial and marketing officer at online marketplace Notonthehighstreet to join consumer-focused investment and innovation firm True.
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NewsApollo may team up with Fortress for Morrisons deal
Private equity group Apollo will not make a bid for Morrisons on its own, but may swing behind Fortress’s recommended offer.
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NewsSosandar cuts losses as sales climb
Online womenswear retailer Sosandar has reported a strong start to its new financial year following reduced losses and a rise in sales.
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NewsThe Works emerges stronger after ‘intensely challenging year’
Arts and crafts specialist The Works has reported that it is well positioned for the future after navigating the challenges of the pandemic.
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NewsBurberry posts ‘strong’ first quarter sales uplift against pre-pandemic levels
Burberry has reported an “excellent start” to its new financial year as full-price sales growth accelerated against its pre-pandemic performance.
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NewsHobbycraft sales slump following lockdown store closures
Hobbycraft sales and profits slumped due to coronavirus-related store closures, although trading has improved since April reopening.
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NewsHammerson latest landlord to halt rent concessions
Hammerson has followed the lead of fellow institutional landlord British Land by putting a stop to offering rent concessions to struggling occupants.
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NewsAsos sales rise despite demand ‘volatility’
Asos has posted an increase in third-quarter sales but cautioned that “volatile demand” and supply chain pressures are likely to persist during the coronavirus crisis.
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NewsKingfisher raises profit guidance as sales surge across Europe
Kingfisher has upgraded its profit guidance after sales powered ahead of pre-Covid levels across its international markets.