Latest finance news – Page 167
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NewsWatches of Switzerland sales rise despite ‘significant’ coronavirus impact
Watches of Switzerland has posted an increase in full-year sales despite its top line being “significantly impacted” by the coronavirus crisis.
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NewsWHSmith sales decimated by coronavirus as first-half profits dip
WHSmith’s sales have been obliterated by the coronavirus as lockdown restrictions decimated its travel division.
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NewsFormer Asda boss Leighton in private equity buyout of TM Lewin
Menswear retailer TM Lewin has been acquired by a private equity team including former Asda chief executive Allan Leighton.
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NewsChancellor extends furlough job retention scheme until end of October
Chancellor Rishi Sunak has extended the furlough job retention scheme until the end of October but said the government wants employers to contribute more.
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NewsLandsec reveals hole in portfolio and warns of lengthy recovery
Institutional landlord Landsec has revealed a near £1.2bn hole in its property portfolio and warned that it does not expect the economy to recover to pre-coronavirus levels until 2022 at the earliest.
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NewsMoss Bros U-turns to resume online trading
Moss Bros is reopening its ecommerce arm with a “reduced workforce” from tomorrow, following recent government guidance about returning to work.
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NewsAO expects profits in line with predictions as coronavirus boosts online growth
AO said it expects sales and profits for the financial year to be in line with analyst expectations and said the coronavirus has created a ‘new normal’ in terms of online electricals’ share of the market.
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NewsKingfisher sales hammered by coronavirus store closures
Kingfisher has seen sales during the first quarter of the year take a hammering from the coronavirus forced closure of its store estate.
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NewsMorrisons first quarter sales up despite ‘highly volatile’ trading
Morrisons has reported sales growth in the first quarter despite “highly volatile” trading patterns and a worse-than-expected Easter due to the ongoing coronavirus lockdown.
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NewsMatalan founder Hargreaves asks lenders for £50m cash injection
Matalan founder and owner John Hargreaves has reportedly tapped existing lenders for a £50m loan.
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NewsJD Sports and Sports Direct square up for Office takeover
Retail rivals JD Sports’ Peter Cowgill and Sports Direct’s Mike Ashley are among the prospective bidders for footwear chain Office.
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NewsConsumer confidence ‘severely depressed’ despite improvement
The latest consumer confidence data showed a small improvement in sentiment, but overall it is still low.
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NewsH&M sales plummet between March and May
H&M’s global sales for the second quarter of this year have plummeted amid the ongoing coronavirus pandemic.
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NewsThe Works sales rise as shoppers ‘beat the boredom’ of lockdown
The Works has registered an increase in full-year revenues with a strong online performance during the coronavirus pandemic.
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NewsSuperdry full-year sales slide as it explores financing options
Superdry has reported a slump in full-year sales exacerbated by the outbreak of coronavirus.
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NewsOcado shareholders revolt over £88m bonus scheme for bosses
Nearly a third of Ocado investors voted against the business’ plans for a pay rise and £88m bonus payout for its top brass.
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NewsHolland & Barrett poaches McColl’s finance boss
Holland & Barrett has snapped up McColl’s chief financial offer Robbie Bell for the same role.
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NewsHalfords expects full-year profits at top end of range
Halfords has said it expects full-year profits for this financial year to come in at the top end of the expected range, while noting a downturn in overall group sales for the current trading period.
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NewsCMA blocks JD Sports-Footasylum merger despite coronavirus uncertainty
Following a phase two investigation, the CMA found the merger would “lead to a substantial lessening of competition nationally” in the footwear sector and would leave customers with “fewer discounts or receiving lower quality customer service”.
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NewsJ Crew becomes first major coronavirus casualty in the US
J Crew has become the first major US retailer to file for bankruptcy protection since the coronavirus lockdown was enforced.