Latest finance news – Page 199
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NewsNew Look celebrates return to ‘underlying profitability’
New Look is back in the black on an underlying basis after its turnaround programme bore fruit.
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NewsCarpetright reports ‘year of two halves’ as turnaround continues
Carpetright has posted reduced annual losses and said there has been strong like-for-like growth in the new financial year.
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NewsEdinburgh Woollen Mill suffers profit fall
Edinburgh Woollen Mill Group has posted a decline in full-year profits as it confronted challenging trading conditions.
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NewsCarrefour sells China business to Suning.com
Carrefour has become the latest big Western retailer to beat the retreat in China after agreeing to sell its business there.
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NewsUK consumer spending growth slowest for six years
The UK consumer spending growth rate will be at its slowest in six years during 2019, ratcheting up pressure on retailers.
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NewsGame advises investors to accept Sports Direct offer
Directors of computer entertainment retailer Game have advised shareholders to accept a takeover offer from Mike Ashley’s Sports Direct that values the business at £51.9m.
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NewsAgenda: Carpetright and Gear4Music update the market
Retail Week looks ahead to the next seven days with updates from Carpetright and Gear4Music on the agenda.
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NewsAshley calls for Goals Soccer Centres boardroom cull
Sports Direct boss Mike Ashley has called for a Goals Soccer Centres boardroom cull due to “the perceived lack of transparency” in its ongoing accounting crisis.
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NewsMonsoon Accessorize CVA proposal calls for rent cuts
Monsoon Accessorize has published its CVA proposal calling for rent reductions at 135 stores in exchange for £30m in funding and a £10m annual profit-sharing scheme.
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NewsDixons Carphone profits plummet as it warns of ‘more pain’
Dixons Carphone’s profits shrank by nearly a quarter last year and the retailer has warned of “more pain in the coming year”.
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NewsBathstore on the brink of administration
Bathstore is near to insolvency and has lined up accountants BDO to handle its administration.
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NewsN Brown sales fall despite digital growth
N Brown sales fell in its first quarter despite a healthy performance across its digital channels.
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NewsJD.com hits record $29.2bn sales in 6.18 shopping festival
Chinese ecommerce titan JD.com made a record-breaking $29.2bn (£23.2bn) in sales during its annual 6.18 shopping festival, bolstered by orders from smaller cities.
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NewsNext acquires Fabled beauty brand from Ocado
Next has bought Marie Claire Beauty Limited from Ocado in a deal that is guaranteed to net a minimum of £3m for the online grocer and technology company.
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NewsMulberry in the red as tough UK trading and investments take toll
Mulberry’s total revenues and pre-tax profits both fell last year, despite healthy growth in its international sales.
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NewsMonsoon offers landlords share of profits ahead of CVA
Monsoon Accessorize has rejected landlords’ demands for an equity stake in favour of a share of future profits, ahead of its mooted CVA proposal.
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NewsFormer BHS owner Chappell in court over tax fraud charges
Former BHS owner Dominic Chappell has appeared in court facing charges of tax fraud and money laundering.
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NewsMonsoon CVA under pressure as landlords cast doubts
Monsoon’s proposed company voluntary arrangement is already facing opposition from large landlords ahead of its reported launch tomorrow, Retail Week understands.
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NewsSainsbury’s cuts prices on more than 1,000 own-brand products
Sainsbury’s has said that since February it has reduced prices on more than 1,000 of its own-brand products as it continues to invest “to offer the customers the best choice”.
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NewsGlobal Fashion Group sets IPO price range
Online fashion retailer Global Fashion Group, which operates in 17 countries, has set an IPO price range of between €6 and €8 per share.