Latest finance news – Page 163
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NewsM&S and Next eye Victoria’s Secret UK arm
High street stalwarts Marks & Spencer and Next are understood to be mulling bids for beleaguered lingerie brand Victoria’s Secret’s UK division.
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NewsIntu slumps into administration but confirms centres will stay open
After long-running talks with creditors failed last night, Intu has finally slipped into administration but confirmed its shopping centres would continue to trade for the time being.
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NewsNike sales plunge amid pandemic store closures
Nike has posted a drop in its quarterly sales with rising online revenue failing to offset declines.
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NewsBoohoo bosses in line for £150m bonus in new incentive plan
The bosses of pureplay fashion powerhouse Boohoo are in line for a £150m bonus if shares rise by two thirds over the next three years as part of a new incentive scheme.
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NewsSosandar appoints new finance director
Sosandar has appointed Stephen Dilks as its new finance director, to replace head of finance James Bowling.
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NewsIntu administration looms as financing talks fail
Embattled retail landlord Intu has said it is ‘likely’ to appoint administrators as negotiations with its lenders stall.
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NewsMatalan bolsters board as full-year profits fall
Matalan’s full-year profits dropped despite a slight uptick in revenues, amid a challenging backdrop of political uncertainty and decreased spending.
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NewsN Brown profits and sales slump in ‘year of restructuring’
N Brown has reported falling profits and sales across its brands in what it called a “year of restructuring”.
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NewsCMA clears Amazon-Deliveroo tie-up despite financial turnaround
The competitions watchdog has once again provisionally cleared ecommerce giant Amazon’s investment in food delivery app Deliveroo, despite the latter’s financial turnaround.
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NewsJD Sports buys Go Outdoors back out of administration
JD Sports has bought its subsidiary Go Outdoors back for £56.5m in a bid to renegotiate better rents with landlords after putting the business into administration earlier this week.
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NewsNaked Wines narrows losses as lockdown accelerates sales growth
Naked Wines has reported narrowing losses in its full-year results spurred by a “sharp acceleration” in sales since the outbreak of the coronavirus pandemic in the West.
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NewsShoe Zone swings to half-year loss as it closes 20 stores
Shoe Zone has reported a half-year loss and a fall in sales as it unveils plans to reduce the size of its store estate to cut costs.
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NewsPoundland owner’s first-half performance hit by pandemic
Value group Pepco, owner of the Poundland and Dealz chains, has posted a fall in first-half profits but said that sales are returning to pre-pandemic levels.
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NewsThe Hut Group signs £100m worth of new beauty partnerships
The Hut Group’s technology arm has confirmed the signing of new partnerships with a number of beauty brands worth more than £100m.
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NewsMothercare eyes new funding as interim boss stands down
Mothercare is in discussion with a number of prospective lenders over new funding as its interim chief executive steps down.
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NewsJD Sports’ Go Outdoors brand tumbles into administration
JD Sports has confirmed the appointment of administrators for its struggling Go Outdoors brand, following days of speculation about the fascia’s future.
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NewsStudio Retail Group sales soar in lockdown
Value group Studio Retail has recorded a 55% sales increase year on year in the 11 weeks since April 23.
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NewsConsumer confidence rises in June as non-essential stores reopen
Consumer confidence rose month on month in June as shoppers felt more optimistic about the economy and their personal finances looking ahead.
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NewsAll Saints launches CVA in bid to secure turnover-based rents
Embattled fashion brand All Saints has become the latest retailer to launch a CVA with the hopes of shifting most of its stores over to turnover-based rents.
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NewsSuperdry ends Chinese joint venture following strategic review
Fashion brand Superdry has confirmed it has ended its Chinese joint venture with Trendy, following a review of its long-term business strategy in the region.