Latest finance news – Page 140
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NewsDunelm hails strong interim results as profits and sales jump
Home and DIY giant Dunelm has said it has “never been more confident about the future” after interim profits and sales both soared.
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NewsNotonthehighstreet snapped up by US firm Great Hill Partners
Online gifting retailer Notonthehighstreet has been taken over by US investment firm Great Hill Partners for an undisclosed sum.
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NewsOcado narrows full-year losses as sales surge
Ocado has reported a spike in full-year sales as demand for online grocery during the pandemic jumped in what boss Tim Steiner says is a permanent shift in consumer shopping habits.
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NewsBoohoo snaps up Arcadia’s remaining brands
Boohoo has finalised the purchase of Arcadia’s Wallis, Burton and Dorothy Perkins brands out of administration.
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NewsRetail bosses demand business rates reform and online sales tax
Bosses from 18 retailers have called on chancellor Rishi Sunak to permanently cut business rates in a bid to save the high street.
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NewsRecord spending spree to reignite economy post-pandemic, says BoE
The economy could hit pre-pandemic levels in early 2022 if households start spending the £125bn in pent-up savings once the vaccine is rolled out, according to the Bank of England.
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NewsFrench Connection board mulls sale after approaches
The board of struggling fashion brand French Connection are considering the sale of the retailer after receiving approaches from two companies.
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NewsEuropean DIY etailer ManoMano doubles business as UK demand grows
European home and DIY platform ManoMano has reported soaring sales in 2020 driven by an uptick in UK demand.
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NewsWatches of Switzerland festive sales rise despite ‘significant headwinds’
Watches of Switzerland has reported a boost in sales across the UK and the US over the Christmas period in what boss Brian Duffy says was “another strong performance”.
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NewsJD Sports raises £464m to bolster acquisition drive
JD Sports has completed a fundraise for £464m, which it will use to drive its expansion and capitalise on acquisition opportunities in new and existing markets.
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NewsSainsbury’s short-selling rises despite GameStop phenomenon
There has been an uptick in shorting of grocer Sainsbury’s and shopping centre operator Hammerson’s shares in the past week, despite the targeting of hedge funds in the US by private investors organising on Reddit.
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NewsEG Group to buy Asda’s petrol forecourt business in £750m deal
EG Group will buy Asda’s petrol forecourt business in a £750m deal following the completion of the supermarket giant’s sale to the Issa brothers.
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NewsAlibaba sales surge amid China’s ‘rapid’ Covid-19 recovery
Alibaba has posted a spike in sales during the final quarter of 2020 following the “rapid recovery” of the Chinese economy in the wake of Covid-19.
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NewsAmazon boss Jeff Bezos steps down as quarterly sales pass $125bn
Amazon founder Jeff Bezos will resign as chief executive later this year and step into the role of executive chair.
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NewsMoonpig valued at £1.2bn as float begins
Moonpig has begun trading on the London Stock Exchange with a market capitalisation of £1.2bn.
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NewsJD Sports bolsters US business with $495m acquisition
JD Sports is to buy US athletic footwear and apparel retailer DTLR for $495m as it extends its US operations.
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NewsH&M profits tumble as Covid-19 batters sales
H&M has suffered a slump in full-year profits and sales as the coronavirus crisis battered its top line.
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NewsBoohoo closes in on £25m deal for trio of Arcadia brands
Boohoo is closing in on a deal for three of Arcadia’s high street brands as the fashion etailer presses ahead with its ambitious acquisition spree.
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NewsBRC urges government action as store vacancies soar
The British Retail Consortium (BRC) has urged the government to extend the business rates holiday beyond April to avoid more high street damage after vacancy rates soared at the end of 2020.
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NewsScrewfix sales hit £2bn as store estate grows
Screwfix has doubled its sales to £2bn over the last five years, while continuing to open new stores despite the pandemic.