Latest finance news – Page 162
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NewsMarket Halls blames social distancing for closure and job losses
Market Halls, the company which operates three of the biggest food halls in the UK, has blamed social distancing for its current closure and a wave of redundancies.
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NewsLandsec hails ‘encouraging’ footfall and reinstates dividend despite rents dip
Landsec has hailed “encouraging” levels of footfall in its centres and will reinstate its shareholder dividend from November, despite retail occupants dragging their feet with rents.
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NewsConsumer confidence inches up despite economic uncertainty
Consumer confidence has risen in the two weeks since non-essential shops reopened despite ongoing disruption due to the pandemic.
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NewsPrimark boss on reopening success: ‘Online can’t compete with our low prices’
Primark’s performance since reopening shows the continued relevance of its low-price, bricks-and-mortar business model that trumps online rivals, bosses believe.
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NewsPrimark ‘encouraged’ by trade since reopening but profits to plunge
Value fashion giant Primark’s profits will be down by about two thirds this year, but trading in reopened stores has been encouraging.
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NewsTopps Tiles sales slide but hails ‘resilience’ as stores reopen
Topps Tiles sales slid during its third quarter as the pandemic hammered its top line.
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NewsLandlords bank on retail recovery despite falling rent collections
In separate updates today, institutional landlords Hammerson and British Land have outlined hopes for a retail recovery despite struggling to recoup rents for the most recent quarter.
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NewsSainsbury’s first-quarter sales climb as digital revenue more than doubles
Sainsbury’s has posted a rise in its first-quarter sales spurred by strong online growth as new boss Simon Roberts says the grocery business has “changed fundamentally”.
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NewsTM Lewin shutters stores after tumbling into administration
Shirtmaker TM Lewin is set to close all of its UK stores, putting over 600 jobs at risk, after it fell into administration due to the impact of the Covid-19 pandemic.
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NewsDelivery tax on the cards for online shoppers
Online shopping faces the prospect of a delivery levy to address the environmental impact of fulfilment.
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NewsGraze chief executive Anthony Fletcher to step down
The chief executive of healthy snacking business Graze, Anthony Fletcher, is set to step down after nearly eight years and be replaced by a former Unilever director.
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NewsBensons for Beds bought by Alteri in pre-pack deal
Bensons for Beds and stablemate Harveys have fallen into administration, with the former being bought out by previous owners Alteri in a pre-pack deal.
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NewsBoohoo faces investor scrutiny over £150m bonus scheme
Boohoo has been criticised by a growing number of investors for the implementation and timing of its new bonus scheme, which could see its bosses receive a £150m payout.
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NewsKim Kardashian sells $200m stake in cosmetics brand
French beauty titan Coty has snapped up a 20% stake in Kim Kardashian West’s KKW cosmetics range, less than a year after acquiring a majority stake in her sister Kylie Jenner’s beauty brand.
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NewsNew Look mulls pre-pack administration in bid for turnover-based rents
Struggling fashion retailer New Look is threatening landlords with a potential pre-pack administration in a bid to move its store estate over to turnover-based rents, Retail Week can reveal.
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NewsCMA chair forced out following row with directors
The chair of the UK’s competition watchdog was forced to step down three years before his term after a row with its chief executive.
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NewsThe Hut Group ponders £4bn share sale
Online powerhouse The Hut Group is in talks with potential investors about a sale of shares that could value it at as much as £4bn.
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NewsPensions giant pushes for Intu Trafford Centre sale
A pensions group that took control of the Trafford Centre when owner Intu collapsed on Friday hopes to secure a speedy sale of the trophy mall.
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NewsTesco blindsided by shareholder revolt on executive pay
UK’s biggest grocer Tesco has suffered a major shareholder revolt over executive pay, despite posting impressive first quarter results earlier today.
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NewsH&M sales slip but retailer predicts imminent recovery
H&M reported that its sales slumped during the first half of the year as the effects of the pandemic bit, but predicted that a recovery was on the horizon.