Latest finance news – Page 164
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NewsTesco continues international retreat with sale of Polish business
Supermarket giant Tesco has agreed in principle the sale of its 300-plus strong Polish business and associated distribution centres and head office.
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NewsKingfisher unveils new strategy as full-year profits fall
B&Q’s parent company Kingfisher reported a dip in full-year sales and profits as new chief executive Thierry Garnier unveiled new ‘Powered by Kinfisher’ group strategy.
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NewsBoohoo snaps up Oasis and Warehouse as first quarter sales surge
Boohoo has acquired the intellectual property of Oasis and Warehouse in a £5.2m deal alongside posting a jump in first-quarter revenue.
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NewsStruggling Poundstretcher launches CVA
Variety discount retailer Poundstretcher has launched a company voluntary arrangement to help restructure its struggling business and appointed KPMG to help drive the turnaround.
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NewsJoules to finish year in the red as store closures slash sales
Fashion brand Joules has predicted it will finish its 2020 financial year in the red after the lockdown of its store estate saw group revenues plummet.
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NewsH&M sales halved during lockdown as retailer eyes reopening recovery
H&M’s sales collapsed by more than a half in the three months to May 31, but they have started to improve during the first two weeks of June as more of its international store estate reopens.
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NewsMike Ashley’s Frasers Group takes £100m stake in Hugo Boss
Mike Ashley’s Frasers Group has taken a near 5% stake in Hugo Boss, worth almost £100m.
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NewsBoohoo braces for shareholder revolt over executive pay
Boohoo is facing a potential shareholder revolt this week over a payout to boss John Lyttle and salary increases for some of its top executives.
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NewsMorrisons hit by investor revolt over exec pension payments
Morrisons has been rocked by a shareholder revolt over the pay packages of its executive team.
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NewsUK economy suffers worst-ever slump during coronavirus lockdown
The UK economy suffered its worst-ever collapse during April as the coronavirus lockdown wiped out a fifth of GDP.
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NewsB&M full-year profits and sales rise despite coronavirus disruption
B&M has posted an uplift in full-year profits bolstered by strong sales growth, and reports that revenues throughout the coronavirus pandemic have been “strong”.
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NewsUpdated: Ocado launches £1bn fund raise to capitalise on online shift
Ocado has launched an ambitious bid to raise £1bn in fresh funding to help it capitalise on the “significant acceleration” in online shopping during the coronavirus pandemic.
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NewsCMA delays final Amazon-Deliveroo decision until August
The Competition and Markets Authority (CMA) has delayed publishing its final decision on the proposed tie-up between Amazon and Deliveroo until the first week of August.
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NewsZara owner Inditex posts first-ever quarterly loss
Zara owner Inditex has reported its first-ever quarterly loss as the coronavirus crisis took its toll on the group’s bottom line.
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NewsMonsoon and Accessorize bought out of administration by founder
Peter Simon has bought Monsoon and Accessorize out of administration with cash from a new holding company in a bid to “rescue a significant number of stores”.
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NewsQuiz property arm slips into administration as it eyes store portfolio restructure
Struggling fashion brand Quiz has said it will seek to appoint administrators to its wholly owned subsidiary in a bid to restructure its failing retail store portfolio.
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NewsThe Hut Group profits soar as total sales exceed £1bn
The Hut Group profits have rocketed while total sales have surpassed £1bn driven by new brand acquisitions and investment in technology.
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NewsSegro completes fundraising as it eyes bigger piece of online shopping boom
UK warehousing group Segro has raised £680m from a new share placing to fund the acquisition of new online distribution facilities.
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NewsMulberry to axe quarter of workforce amid coronavirus crisis
Mulberry plans to axe a quarter of its workforce across the globe as the coronavirus pandemic takes its toll on the business.
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NewsSosandar pens deals with Next and John Lewis as sales surge during lockdown
Sosandar will start selling its clothing through the John Lewis and Next websites as it seeks to build on surging sales during the first two months of its financial year.