Latest finance news – Page 183
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NewsTed Baker drafts in Deloitte to investigate £25m stock overstatement
Ted Baker has appointed Deloitte to work alongside law firm Freshfields on the investigation into the overstated the value of stock on its balance sheet.
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NewsSports Direct puts Lillywhites London lease up for sale
Sports Direct’s lease of the six-floor Lillywhites store on London’s Piccadilly has reportedly been put on the market.
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NewsJD Sports’ Footasylum acquisition put on hold by CMA
JD Sports planned £90m takeover of struggling footwear firm Footasylum has been halted by an ongoing investigation by the Competition and Markets Authority (CMA).
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NewsTed Baker calls in advisers as it looks to revive fortunes
Ted Baker has called in consultancy firm AlixPartners to help with a root-and-branch review of operations after a difficult year that has seen it issue three profit warnings.
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NewsM&G suspends property fund as Brexit and retail landscape take toll
Property fund M&G has banned all withdrawals, blaming Brexit and the retail downturn for the decision.
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NewsDunelm profits to beat expectations amid margin gains
Dunelm has said it expects full-year profits to come in “higher than previous expectations” after a period of “strong sales growth”.
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NewsJoules sales climb despite ‘challenging’ September
Joules has posted an increase in sales during the first half of its financial year despite suffering what it called a “challenging” September.
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NewsClintons seals pre-pack admin deal saving 2,500 jobs
Greetings cards specialst Clintons has been bought out of administration by Esquire Retail Limited, safeguarding all 2,500 jobs.
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NewsEdinburgh Woollen Mill’s profits rise in ‘turnaround’ period
The Edinburgh Woollen Mill group has posted an increase in profits as the fashion retailer continued to expand its luxury division.
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NewsMorrisons promotes two in management reshuffle
Morrisons has reshuffled its management team with two senior appointments, leading its boss to praise the supermarket’s “strong management development plans”.
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NewsQuiz swings to loss as brand blames ‘challenging market conditions’
Quiz has swung to a loss before tax and seen its underlying EBITDA more than halve in what the fast-fashion group called a “continued challenging market”.
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NewsJohn Lewis sales spike driven by Black Friday bargains
John Lewis’ weekly sales soared in after a “record” performance for the retailer as price matching and strong demand for fashion and home technology bolstered performance.
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NewsBoohoo hails record-breaking Black Friday weekend
Boohoo has registered a “strong” Black Friday performance across the promotional weekend with key brands bolstering sales.
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NewsDr Martens owner sets sights on £1bn sale
Dr Martens’ owner – private equity firm Permira – is looking to sell the shoe brand for £1bn.
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NewsDobbies mulls float as sales and profits blossom
Dobbies has posted an uplift in profits and sales during its full-year results and is considering a stock market float.
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NewsHolland & Barrett owner urged to provide cash injection
The owner of health food specialist Holland & Barrett has been urged by lenders to provide additional cash as tough high street conditions bite.
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NewsTed Baker discovers £25m stock overstatement
Ted Baker has revealed that the value of stock held on its balance sheet has been overstated by between £20m and £25m.
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NewsOcado launches £500m bond issue to fund tech commitments
Ocado has unveiled a £500m convertible bond issue following a string of deals with international retailers.
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NewsSports Direct boss Ashley settles US legal row
Sports Direct founder Mike Ashley has resolved a legal dispute in the USA a day after a court there demanded he gave evidence.
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NewsConsumer confidence flatlines in November
Consumer confidence flatlined in negative growth in November, marking four years since it had been into positive territory, according to the GfK Consumer Confidence Index.