Latest finance news – Page 141
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NewsLidl store investment leads to £13.6m loss
Lidl reported sales of more than £6.9bn in the UK last year, but pre-Covid investment in new stores, logistics and supply chain drove it into the red.
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NewsJoules interim sales and profits slip as chief financial officer departs
Fashion retailer Joules has blamed store closures due to coronavirus for falling sales and profits on the day it announced its chief financial officer would be stepping down.
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NewsLuxury conglomerate LVMH records year of two halves
LVMH reported an overall decline in revenues for 2020 but the final quarter showed signs of promise for the coming year.
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NewsScS sales rise as post-lockdown orders soar
ScS has recorded an uptick in sales after orders following the first lockdown in 2020 significantly increased.
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NewsPaperchase rescued in pre-pack administration deal
Paperchase is set to be rescued in a pre-pack deal led by a lender connected to private equity firm Permira.
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NewsJD Sports considers fundraising for acquisition warchest
JD Sports is pondering raising new equity to fund deals as the retail landscape is transformed by the Covid pandemic.
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NewsAsos could retain Topshop flagship if Arcadia deal goes ahead
Online retailer Asos, which is in exclusive talks to buy Arcadia brands, is interested in retaining the flagship Topshop store on Oxford Street.
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NewsBoohoo acquires Debenhams brand and website
Boohoo has acquired Debenhams’ brand and website for £55m in what executive chair and co-founder Mahmud Kamani describes as “a transformational deal”.
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NewsAsos emerges as frontrunner to acquire Topshop
Asos is closing in on a deal to acquire Topshop, Topman and Miss Selfridge out of administration.
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NewsWaterstones boss warns store closures loom without further rates relief
Waterstones boss James Daunt has warned that without either an extension to the business rates holiday or other reforms before April, he could be forced to close stores.
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NewsThe Works narrows interim losses as online sales double
The Works boss Gavin Peck has hailed the retailer’s “robust” performance at the half-year mark as online sales surged and stores experienced strong demand when allowed to open under government guidelines.
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NewsJohn Lewis raises profit forecast after resilient Christmas performance
John Lewis has said its sales across Black Friday and Christmas “held up better than anticipated” and its profits will be ahead of previous guidance as a result.
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NewsNext pulls out of race to acquire Topshop
Next has withdrawn from the bidding process to acquire Arcadia’s Topshop brand, despite previously being pinned as the frontrunner to snap up the fashion retailer.
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NewsVaccine promises do little to boost consumer confidence
Consumer confidence dropped at the beginning of the year, despite promises that the vaccine would bring life back to normal.
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NewsEG Group appoints Lord Rose as new chair
EG Group, whose owners are buying grocery giant Asda, has appointed retail veteran Stuart Rose as its new chair to address issues with its corporate governance.
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NewsEve Sleep losses narrow after record festive sales
Eve Sleep has reported strong sales for 2020 including record Black Friday and Boxing Day events.
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NewsPets at Home sales climb as customer numbers soar
Pets at Home has recorded an uptick in sales over the golden quarter, as the retailer “adapted to the changing environment” amid the pandemic.
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NewsBurberry hails ‘good progress’ as online sales surge over Christmas
Burberry has posted a spike in online sales during the golden quarter as it hailed “good progress” on its transformation strategy.
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NewsWHSmith delivers ‘better than anticipated’ Christmas as sales recover
WHSmith has hailed a “better than anticipated” performance during the Christmas period as it continued to rebuild its top line.
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NewsDixons Carphone raids Tesco for new finance boss as festive sales rise
Dixons Carphone has posted an increase in sales during the crucial Christmas trading period and unveiled the appointment of its new finance boss.