Latest finance news – Page 168
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NewsHotel Chocolat opens new credit line as Easter sales hit by lockdown
Hotel Chocolat has opened a new line of credit with its bankers following a subdued Easter sales period due to the coronavirus lockdown measures.
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NewsIceland boss Walker slams ‘ludicrous’ HMRC probe into Christmas Club scheme
Iceland boss Sir Malcolm Walker has slammed HM Revenue & Customs for pursuing a “ludicrous” investigation into its Christmas Club employee savings scheme during the coronavirus crisis.
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NewsAmazon first-quarter profits dip as it warns of $4bn coronavirus costs
Amazon has reported in a decline in first-quarter profits and warned that earnings in its second quarter will be completely wiped out by costs related to coronavirus.
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NewsCoronavirus to wipe £1.7trn off global retail sales
The coronavirus crisis will wipe $2.1trn (£1.7trn) off of global retail sales in 2020, new data has predicted.
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NewsSainsbury’s boss Coupe takes parting shot at Amazon on business rates
Sainsbury’s boss Mike Coupe has defended the grocer’s decision to accept business rates relief from the government – and said it will still face a higher bill than Amazon this year.
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NewsWilko profits and sales fall in ‘incredibly difficult’ year
Wilko has reported a slide in full-year pre-tax profits and a fall in sales, which it attributed to the “challenging” UK retail environment, Retail Week can reveal.
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NewsJohn Lewis considers permanently closing some stores after lockdown
The chair of John Lewis has admitted the retailer may permanently close some of its department stores, even after the coronavirus lockdown ends.
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NewsIntu could lose control of key shopping centres
Bondholders of debt secured against retail property giant Intu are preparing plans that could see them seize the retailer’s key assets as early as June.
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NewsSainsbury’s full-year profits dip, coronavirus prompts grocery sales surge
Sainsbury’s has reported a decline in underlying full-year profits as it plans to incur £500m in additional costs due to coronavirus in the coming financial year.
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NewsDixons Carphone hails strength of online channel as it cancels dividend
Dixons Carphone has said its ecommerce channels in the UK and Ireland have recovered around two-thirds of sales lost to store closures as it cancelled its full-year dividend for shareholders.
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NewsNext warns sales fall during coronavirus ‘faster and steeper’ than anticipated
Next has issued a lengthy trading update warning that the fall in sales as a result of the coronavirus has been “faster and steeper” than it anticipated in March.
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NewsOasis and Warehouse boss Hash Ladha exits
Oasis and Warehouse’s group chief executive Hash Ladha has stepped down from his role as the company continues its administration process.
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NewsMarks & Spencer secures fresh funding and warns of ‘subdued’ trading
Marks & Spencer has secured fresh funding as it moves to shore up its balance sheet during the coronavirus crisis.
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NewsRetailers cancel £2.5bn of orders from Bangladesh amid coronavirus crisis
British retailers have cancelled an estimated £2.5bn in clothing orders from Bangladeshi suppliers, pushing the country’s garment industry towards a “major crisis”.
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NewsDebenhams warns business rates change could spark Welsh shop closures
Debenhams may have to shut branches in Wales unless the government changes its stance on business rates.
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NewsCoronavirus: JD Sports boss Cowgill takes 75% pay cut
JD Sports has launched a range of cost-cutting measures and delayed the publication of its preliminary results amid the coronavirus pandemic.
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NewsCoronavirus: Consumer confidence stabilises after early-April crash
Consumer confidence has stabilised after crashing at the start of the coronavirus crisis, although experts have refused to rule out a further slump to record lows.
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NewsCo-op warns of £200m coronavirus costs as profits rise
The Co-op has warned that it faces additional costs of more than £200m associated with the coronavirus crisis as it ramps up efforts to “feed the nation”.
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NewsMike Ashley’s Frasers Group settles €674m Belgian tax dispute
Mike Ashley’s Frasers Group has settled its long-running €674m (£588m) tax dispute with Belgian authorities.
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NewsAmazon donates £250,000 to help bookstores through coronavirus
Amazon has donated £250,000 to a fund set up to help its physical bookshop rivals that have been hammered by coronavirus.