Latest finance news – Page 174
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NewsAsda circled by raft of potential buyers
Petrol station tycoons and private equity houses are understood to be among those interested in taking a majority stake in Walmart-owned Asda.
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NewsCoronavirus could spark UK economic growth downgrade
The coronavirus crisis could spark a downgrade of economic growth in the UK, the governor of the Bank of England has warned.
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NewsConsumer confidence inches up for third month in a row
Consumer confidence rallied for a third straight month in February as wages and house prices rose, unemployment remained low and inflation stayed stable.
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NewsTK Maxx parent company full-year sales ‘exceed expectations’
TK Maxx owner TJX has hailed a strong fourth-quarter and full-year results exceeding expectations.
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NewsHomebase returns to profit and launches new store format
Homebase has hailed a return to profit ahead of plan in its full-year results and plans to open new smaller-format stores.
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NewsTopps Tiles warns on profits as sales slide
Topps Tiles has warned that profits will fall below expectations after continued tough trading.
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NewsZalando profits rise as its prepares for launch into second-hand fashion
Online fashion specialist Zalando has unveiled a rise in full-year sales and profits and is preparing to launch a variety of initiatives including a pre-owned range.
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NewsWalmart ‘in discussions’ to sell Asda stake
Asda’s parent company Walmart has said it may sell a stake in the business and has opened discussions with a “small number of interested parties”.
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NewsIntu credit extension dependent on raising £1.3bn equity
Embattled landlord Intu has agreed on an extension to its credit facilities with its lenders as long as it can raise at least £1.3bn of equity.
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NewsMcColl’s to close more than 300 stores over next four years
The chief executive of McColl’s has said the convenience store group will look to shut as many as 330 stores over the next three or four years as it seeks to rationalise its store estate as part of its strategic shift.
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NewsMcColl’s profits slump as it seeks new debt arrangement
Struggling convenience store group McColl’s has posted declining profits and sales figures and confirmed it is in discussion with lending banks about a new debt facility.
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NewsForever 21 names former H&M US boss as new chief executive
The new owners of fast-fashion retailer Forever 21 have named former H&M US president Daniel Kulle as chief executive to steer the business out of bankruptcy.
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NewsHammerson eyes further disposals this year with ‘nothing off the table’
Hammerson is considering further disposals this year and selling stakes in assets across its flagship centre and premium outlet portfolios, according to a senior executive.
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NewsBoux Avenue calls in advisers as it mulls store closures
Boux Avenue has reportedly appointed advisers from Deloitte to discuss a potential insolvency process resulting in store closures.
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NewsTesco exits China with £275m deal
Tesco has sold its 20% holding in Chinese business Gain Land as it increases focus on its core operations.
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NewsHotel Chocolat’s ‘strong’ sales boosted by new store openings
Hotel Chocolat has posted “another strong” set of results, which chief executive Angus Thirwell attributed to offering its customers a “wider variety of sales channels”.
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NewsHammerson profits fall against challenging retail backdrop
Shopping centre owner Hammerson has posted falling profits and rental income during its full-year results.
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NewsPrimark finance boss bullish on coronavirus supply chain issues
Primark finance director John Bason said the value fashion retailer is “under less pressure than other retailers will be feeling” following the outbreak of coronavirus.
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NewsPrimark reports sales rise, but warns coronavirus may hit supply
Primark has reported an uplift in interim sales driven by its new space, but flagged that if coronavirus persists it may result in some product shortages later in the year.
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NewsHammerson sells remaining retail parks at a discount
Institutional landlord Hammerson has confirmed the sale of its remaining portfolio of retail parks at a “wider than expected” discount, as it looks to shore up its balance sheet.