Latest finance news – Page 166
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NewsCoronavirus takes toll on retail property giant British Land
Meadowhall owner British Land has reported a fall in valuations and retail rent as the coronavirus pandemic piled pressure on annual performance.
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NewsScS ‘well positioned’ to navigate coronavirus as it reopens stores
ScS has said it is “well positioned” to survive the ongoing coronavirus crisis after it reopened 80 stores and its distribution network for deliveries in England.
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NewsBurberry cautions post-pandemic recovery will take ‘some time’
Luxury goods retailer Burberry anticipates a potentially lengthy period before business returns to normal.
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NewsMoss Bros and Crew Clothing owner wrangle over deal
Men’s fashion specialist Moss Bros and former suitor Brigadier Acquisition Company are both seeking to defend their positions over their deal-gone-sour.
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NewsVictoria’s Secret takes axe to store estate
US lingerie giant Victoria’s Secret is to shut a quarter of its stores in its home market of North America following the collapse of sales hopes.
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NewsUsing furlough scheme is ‘moral judgement’ for retail, says Pets at Home boss
Pets at Home chief executive Peter Pritchard has said retailers with strong liquidity should think carefully before using the government furlough scheme.
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NewsPets at Home full-year profits rise as sales surpass £1bn
Pets at Home has reported a surge in its full-year profits and sales but warns that coronavirus costs will impact its bottom line in the year ahead.
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NewsTesco, Sainsbury's and Co-op win ATM business rates legal dispute
A number of supermarkets including Tesco, Sainsbury’s and the Co-op have won a legal ruling on whether they should be liable for business rates on cash machines located on their premises.
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NewsMajestic Wine expands tie-up with Deliveroo
Majestic Wine has announced an expansion of its partnership with Deliveroo, both in terms of delivery locations as well as range.
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NewsMarks & Spencer profits tumble as coronavirus hits bottom line
Marks & Spencer has reported falls in group sales and profit before tax, largely blaming the ongoing coronavirus pandemic for burying green shoots of promise.
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NewsAsda sales jump during lockdown but profits dip
Asda has posted an increase in revenues during the first quarter of parent company Walmart’s financial year, driven by increased grocery sales during the coronavirus crisis.
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NewsJust Eat slams CMA U-turn on Amazon-Deliveroo deal
Just Eat has hit out at the competition watchdog’s U-turn over etail titan Amazon’s investment in Deliveroo.
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NewsTopps Tiles swings to loss in ‘challenging’ market
Topps Tiles has swung to a loss in the first half of its financial year amid what it called a “challenging trading environment”.
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NewsCoronavirus: French Connection seeks urgent funding in battle for survival
French Connection is in urgent talks with potential funding partners as it battles to stay afloat amid the coronavirus crisis.
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NewsIntu seeks debt standstill as it braces to breach covenants
Retail property titan Intu has warned that it is “likely” to breach its covenants next month and is negotiating with lenders to freeze its debts during the coronavirus pandemic.
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NewsRetailers’ fortunes flag on Sunday Times Rich List
A number of retailers have fallen in the rankings in The Sunday Times Rich List 2020 as tough market conditions impact their personal fortunes.
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NewsJC Penney declares bankruptcy amid coronavirus pandemic
The US department store chain JC Penney, which filed for bankruptcy on Friday, is reportedly the largest retail casualty of the pandemic-induced economic downturn so far.
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NewsBoohoo eyes further acquisitions as it completes £200m fundraise
Pureplay fashion retailer Boohoo has successfully raised close to £200m in less than 24 hours as it eyes already struggling high street brands stricken further by the coronavirus.
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NewsCoronavirus: Global Fashion Group sales grow during lockdown as it eyes profitability
Pureplay retailer Global Fashion Group (GFG) has reported an increase in sales in the first quarter and improving margins as it eyes profitability.
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NewsTesco, Sainsbury’s and Morrisons execs scoop hefty bonuses
Executives at three of Britain’s biggest grocers have been awarded hefty bonus packages.