Latest finance news – Page 186
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NewsB&M reviews German business as profits tumble
B&M’s profits spiralled as the German arm of the business was “impacted by trading and operational issues”.
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NewsNew Look losses narrow despite falling sales
New Look posted narrowed losses during its half-year results following an “incredibly busy” year.
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NewsBRC calls for next government to ‘empower retail’ in election manifesto
The BRC has unveiled its election manifesto, setting out how the next government can “support the industry as it navigates a transformation driven by new technology and changing consumer behaviour”.
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NewsGreggs profit expectations heat up as sales soar
Greggs’ profit expectations have been upgraded as total group and managed shops like-for-like sales soared.
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NewsClintons to close stores and slash rents in survival bid
Clintons has been forced to reach out to landlords to seek concessions on store closures and rent cuts, as the greetings card chain becomes the latest high street retailer to suffer.
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NewsMamas & Papas to close six stores after pre-pack administration
Mamas & Papas has closed six stores and will be reviewing operations at its head office which could lead to as many as 127 redundancies across shopfloor and back office.
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NewsSuperdry blames sales fall on ‘legacy issues’
Superdry has reported slumps in group sales and across all its channels, which it says “reflects an expected year of reset” and legacy issues across the business.
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NewsThe Works warns on profits as like-for-like sales suffer
The Works has issued a profit warning in its half-year trading update, as it says a “challenging consumer backdrop” and strong comparables hit its like-for-like sales.
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NewsHalfords profits and revenue fall as big-ticket sales stall
Halfords has recorded a decline in interim sales and profits as the business snapped up independent garage chain McConechy’s Tyre Service in a bid to bolster its autocentres division.
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NewsSainsbury’s half-year profits slide as sales fall in ‘competitive’ market
Sainsbury’s has recorded a fall in profits at the half-year mark as one-off property costs hit the grocer’s bottom line.
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NewsIkea sales rise as global transformation takes hold
Ikea has reported an increase in total sales as the first year of its global transformation programme has taken hold.
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NewsClarks blames deepening losses on ‘climate of uncertainty’
Clarks’ losses after tax increased in its last financial year, with sales falling and “onerous” leases across its store estate taking their toll.
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NewsIntu’s outlook ‘remains confident’ despite market conditions
Shopping centre owner Intu has made progress with the strategy set out in its interim results despite “challenging market conditions”.
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NewsM&S sales and profits fall due to weak clothing sales
Marks & Spencer’s sales and profits fell during its half-year following poor performance in its clothing and home ranges.
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NewsBoots owner considers taking the pharmacy chain private
Boots owner Walgreens Boots Alliance is considering taking the US pharmacy chain private following interest from investors.
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NewsMothercare UK tumbles into administration with the loss of 2,800 jobs
Mothercare’s UK arm has officially appointed administrators and will close all of its stores and offices with the loss of 2,800 jobs.
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NewsFormer BHS owner banned from directorships for 10 years
Dominic Chappell, the former BHS owner, has been banned from holding any company directorships for the next 10 years by the Insolvency Service.
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NewsKurt Geiger profits up despite House of Fraser debt
Kurt Geiger has reported an increase in its operating profit for the financial year, despite the bad debts it accrued as part of the House of Fraser administration.
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NewsPrimark profits rise as it eyes international expansion
Primark has posted an increase in full-year profits and set its sights on further international expansion, despite declining like-for-like sales.
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NewsShop Direct closes in on £150m financing deal
Shop Direct owners the Barclay family are on the cusp of agreeing a £150m refinancing deal to shore up the online retailer’s balance sheet.