Latest finance news – Page 146
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NewsStudio Retail prepares for sale as profits boom
Online value retailer Studio has announced plans to explore its sale options as profits and sales soared during the coronavirus pandemic.
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NewsJoules trading ‘ahead of expectations’ despite overall sales decline
Joules has recorded a strong uplift in ecommerce sales in its first half despite lost in-store sales throughout the lockdown periods.
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NewsThe Hut Group raises sales forecast for second time since float
The Hut Group has bumped up its sales forecast for the second time since it floated in September, citing strong Black Friday and Cyber Monday sales.
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NewsKingfisher agrees to return business rates relief in full
The board of home and DIY giant Kingfisher has agreed to return more than £130m in business rates relief in full, becoming the latest retailer to do so.
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NewsTed Baker slips deeper into the red as revenues fall
Ted Baker has reported deepening losses before tax as its revenues fell and costs associated with the ongoing coronavirus pandemic rose.
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NewsMike Ashley’s Frasers swoops in with late rescue bid for Debenhams
Frasers Group has made a last-minute rescue bid for ailing department store chain Debenhams, with owner Mike Ashley vowing to save as many jobs as possible.
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NewsLidl joins retailers returning business rates relief with £100m payback
Discounter Lidl has become the latest retailer to agree to waive the business rates relief it received at the start of the pandemic by repaying £100m to the government.
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NewsPrimark posts ‘very strong’ sales after reopening post-lockdown
Sales at fashion powerhouse Primark have been “very strong” after stores reopened following national lockdowns, parent ABF reported.
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NewsB&M and Pets at Home follow grocers and forego rates relief
Value giant B&M and specialist retailer Pets at Home have become the latest retailers to waive business rates relief after Tesco sparked a spate of such initiatives earlier this week.
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NewsAsda to repay £340m in business rates relief
Asda has become the latest in a growing list of grocers to voluntarily waive business rates relief and repay the government in full.
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NewsAldi becomes latest grocer to commit to repaying business rates relief
Discount grocery chain Aldi has said this morning it will pay back over £100m in business rates relief, becoming the fourth grocer to do so in 24 hours.
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NewsGreen family set to pay £50m into Arcadia pension pot within next 10 days
Sir Philip Green’s family is set to pay £50m into his crumbling fashion group’s pension pot in the next 10 days, as the business secretary called on the watchdog to investigate.
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NewsSainsbury’s and Morrisons to repay £714m business rates relief
Grocery chains Sainsbury’s and Morrisons have both followed Tesco’s lead by committing to repay a combined £714m of business rates relief.
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NewsBonmarché collapses into administration in grim week for retail
Fashion retailer Bonmarché has plunged into administration, adding to a grim toll of retail collapses this week.
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NewsCosmetics etailer Beauty Bay mulls stock market listing
Manchester-based online retailer Beauty Bay is considering following in the footsteps of The Hut Group with a stock market float.
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NewsTesco to repay £585m business rates relief in full
Tesco will repay the business rates relief it received at the beginning of the coronavirus pandemic, which boss Ken Murphy has said is “absolutely the right thing to do”.
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NewsDebenhams to go into liquidation with 12,000 jobs at risk
Debenhams is set to go into liquidation putting 12,000 roles at risk after JD Sports confirmed it had withdrawn interest in buying the ailing department store chain.
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NewsIssa brothers’ EG Group fails in Caffè Nero bid
EG Group, the petrol forecourts empire of Asda’s new owners the Issa brothers, has failed in a bid to buy Caffè Nero.
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NewsSosandar narrows losses as sales rise during pandemic
Sosandar has narrowed its half-year losses as it benefited from a spike in online sales during the coronavirus pandemic.
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NewsArcadia collapses into administration putting 13,000 jobs at risk
Sir Philip Green’s Arcadia group has tumbled into administration leaving the future of its 13,000 employees hanging in the balance.