Latest finance news – Page 154
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NewsCzech billionaire ups stake in Sainsbury’s
Czech billionaire Daniel Kretinsky has taken a major stake in Sainsbury’s, making him the fouth largest shareholder.
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NewsJohn Lewis boss Wicks: Christmas trading to be ‘as good or better’ than last year
John Lewis’ new boss Pippa Wicks believes the department store will be able to match or surpass last year’s festive sales performance despite ongoing disruption sparked by the coronavirus.
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NewsJohn Lewis axes staff bonus after racking up first-half loss
Department stores and grocery business John Lewis Partnership has posted a first-half loss and told staff they will not receive a bonus this year.
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NewsCo-op profits climb following ‘exceptional’ food performance
Convenience retail and funerals group the Co-operative has posted a surge in profits after the coronavirus outbreak prompted shoppers to flock to its stores.
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NewsNext resilience through pandemic prompts profits optimism
Fashion giant Next has increased its full-year profit guidance as it navigates the disruption caused by the Covid pandemic.
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NewsGovernment extends commercial evictions ban until the end of 2020
The government has extended its moratorium on commercial tenant evictions until the end of 2020 in a move that will likely further deepen divisions between retailers and landlords.
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NewsWaitrose to close three stores and sell one to Tesco
Waitrose is set to close three stores and sell another to Tesco after struggling to make the sites profitable in the long term.
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NewsInditex returns to profitability as online sales soar
Inditex has posted a profit in its second quarter, as it begins to recover from the impacts of the coronavirus pandemic.
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NewsThe Hut Group begins trading on London Stock Exchange after successful float
The Hut Group has begun trading on the London Stock Exchange this morning after its successful float raised £1.88bn, in turn pushing its market capitalisation to £5.4bn.
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NewsNew Look CVA gets green light from landlords saving over 11,000 jobs
New Look has had its company voluntary arrangement (CVA) seeking to move over 400 of its stores on to turnover-based rents approved by creditors, saving over 11,000 jobs.
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NewsH&M posts ‘better than expected’ recovery
H&M has announced it expects a return to profit this year, as its finances begin to recover post-Covid.
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NewsNext seals deal for Victoria’s Secret UK business
Next has reportedly sealed a deal to snap up a majority stake in Victoria’s Secret’s struggling UK business.
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NewsNew Look future hangs in balance as property giants reject CVA
Two of New Look’s biggest landlords are poised to vote against its crunch CVA today in a move that will throw the fashion retailer’s survival into doubt.
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NewsBoohoo eyes New Look as crunch CVA vote looms
Boohoo is understood to be planning a swoop on New Look if its CVA is not voted through by landlords this week, with the fashion retailer warning it could collapse without rent cuts.
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NewsThe Hut Group aims to raise £1.9bn as it confirms IPO
The Hut Group has confirmed its intention to launch a £4.5bn stock market listing that would give the etail group a £5.4bn market capitalisation.
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NewsMorrisons boss Potts pledges further price cuts in run-up to Christmas
Morrisons chief executive David Potts has pledged that the grocer will make further price cuts in the run-up to Christmas as the effects of the recession continue to bite.
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NewsDixons Carphone revenues rise as online sales soar
Dixons Carphone has reported an uptick in sales amid the coronavirus pandemic, buoyed by a surge in its online business.
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NewsDunelm profits and sales slide despite homewares boom
Dunelm has posted a fall in full-year profits as store closures during the coronavirus crisis dented its sales.
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NewsMorrisons profits fall as Covid costs bite
Morrisons has suffered a drop in profits during its first half as it absorbed costs associated with weathering the coronavirus pandemic.
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NewsPhilip Day considers sale of Jaeger and Austin Reed
Edinburgh Woolen Mill boss and retail mogul Philip Day has brought in advisers to assess the sale of a number of his brands, after receiving unsolicited offers.