Latest finance news – Page 177
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NewsBRC slams latest government proposals on business rates relief
The BRC has criticised the government for not doing enough to support the UK high street, after it proposed increasing retail business rates relief but not the threshold at which it would be available.
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NewsJohn Lewis axes weekly sales figures as revenue slips
The John Lewis Partnership has reported a decline in sales in its final weekly sales figure as the department store retailer axes the weekly updates.
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NewsIntu sells Spanish shopping centre as it battles to balance books
Intu has completed the latest in a string of asset disposals, selling another Spanish shopping centre as it looks to turn around flagging fortunes and fix its balance sheet in the UK.
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NewsSainsbury’s commits £1bn to meet net zero pledge
Sainsbury’s has committed to spending £1bn to meet its pledge to become a net zero business across its own operations by 2040.
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NewsAmazon and Deliveroo lash out at ‘speculative’ CMA investigation
An investigation into the proposed tie-up between Amazon and food delivery app Deliveroo is “speculative and not supported by evidence”, the businesses have warned the CMA.
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NewsAlmost 10,000 retail jobs lost already this year
Nearly 10,000 retail jobs were lost in the first three weeks of 2020, according to industry analysts.
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NewsReiss’ festive sales spike as owner Warburg seeks buyer
Reiss has posted a jump in Christmas sales as its private equity owner Warburg Pincus seeks a buyer for the chain.
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NewsLong-serving McColl’s director set to step down
The chief operating officer of grocer McColl’s is set to retire, having worked for the convenience store group for over two decades.
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NewsHMV owner expands store estate with US acquisition
HMV and Sunrise Records owner Doug Putman has acquired US retailer For Your Entertainment.
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NewsMothercare chief executive steps down in wider board reshuffle
Mothercare’s chief executive has stepped down from his role among a raft of other senior changes as the embattled retailer continues its international franchise push.
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NewsHotel Chocolat blames supply chain for ‘moderate’ Christmas cost increase
While Hotel Chocolat reported increased sales in the second half of last year, it flagged that inefficiencies with its supply chain during the festive period saw its costs increase “moderately”.
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NewsAsos sales jump as Beighton hails ‘encouraging start to the year’
Asos has reported sales increases in all of its markets, which led boss Nick Beighton to hail an “encouraging start to the year” for the pureplay retailer.
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NewsTed Baker £58m stock overstatement more than double previous estimates
Ted Baker has said that its stock overstatement has been valued at £58m, which is “materially higher” than initial estimates.
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NewsPets at Home Christmas sales climb bolstered by pet-grooming services
Pets at Home has reported a strong rise in festive sales, driven by a record day of trading in the run-up to Christmas and a surge in demand for dog-grooming services.
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NewsWHSmith Christmas sales rise despite high street decline
WHSmith has reported a rise in total sales over the festive period, however like for likes slipped as the retailer’s strong travel performance was dampened by a fall in high street revenue.
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NewsDixons Carphone re-issues festive trading update after error
Dixons Carphone has been forced to re-issue its Christmas trading update after a clerical error in its original filing.
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NewsAldi hikes pay rates for shopfloor staff
Aldi has hiked its base rate of pay for all shopfloor staff to what it has dubbed “market-leading” levels.
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NewsEve Sleep breaks even for first time during fourth quarter
Eve Sleep has broken even for the first time during the fourth quarter of its financial year as it remained on track to slash losses.
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NewsJoules profits hit by later fall of Black Friday
Joules has blamed the later fall of Black Friday for a slump in half-year profitability.
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NewsDixons Carphone posts flat Christmas sales as mobile hits top line
Dixons Carphone has hailed “strong” sales during the peak Christmas and Black Friday trading period, despite the turbulent mobile phone market continuing to drag on performance.