Latest finance news – Page 20
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NewsTopps Tiles sales improve despite challenging external cost environment
Topp Tiles have reported improving sales in the first half of the year but warned that the external cost environment remains challenging for the business.
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NewsTheo Paphitis’ Boux Avenue marks ‘breakthrough year’ for profits
Entrepreneur Theo Paphitis’ lingerie and clothing business Boux Avenue will clock up its first-ever profit in the financial year just ending, Retail Week can reveal.
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NewsDecathlon sales rise in ‘transformative’ year
French sports giant Decathlon has reported an increase in sales during 2024 in a “transformative” year for the business.
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NewsAlibaba.com sees double-digit growth in orders from UK buyers
Business-to-business platform Alibaba.com has recorded a leap in year-on-year orders placed by UK small and medium enterprises (SMEs) during its annual expo.
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NewsShop prices stay deflated for most non-food categories
Shop prices remained deflated in March, with most non-food categories driving this fall despite retailers facing increased costs from the budget.
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NewsMajestic buys wine supplier to ‘turbocharge’ business
Specialist retailer Majestic Wine is to acquire a leading wine and spirits supplier as it prepares for a new business phase.
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NewsPets at Home cuts next year’s profit guidance due to costs from Budget
Pets at Home has reduced its profit guidance for the next financial year as it battles cost increases stemming from the Budget.
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NewsBoohoo vows to push forward with Debenhams rebrand despite Frasers Group intervention
Boohoo has vowed to push forward with its plans to rebrand the group to Debenhams, despite Frasers Group thwarting its efforts to pass a resolution on the subject at today’s general meeting.
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NewsModella Capital lays out plans for WHSmith after acquiring its high street arm
Private equity firm Modella Capital has laid out its plans for the WHSmith high street business, which was acquired in a £76m deal.
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NewsWHSmith sells UK high street business to private equity firm and rebrands to TGJones
WHSmith has made the decision to sell its UK high street business to a private equity firm in a £76m deal as it focuses on becoming a pureplay global travel retailer.
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NewsAsda invests £80m in raising frontline staff pay
The supermarket said this brings its total investment in staff pay to half a billion pounds since 2021.
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NewsH&M profits hit by ‘negative external factors’ and increased markdowns
Swedish fashion giants H&M have reported a dip in profits in the first quarter, driven by “negative external factors”, increased markdowns of products and investment.
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NewsNext upgrades profits and sales guidance after strong start to the year
Next has upgraded its full price sales and pre-tax profit guidance for the current financial year after trading in the first eight weeks of the period were ahead of expectations.
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NewsSpring statement brings no new pain for retail – but no relief either
While today’s spring statement did not have any more unexpected tax rises in-store for retail, it also did not deliver any relief for a sector still coming to terms with the October Budget.
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NewsMorrisons sales jump as grocer ramps up cost-cutting targets
Morrisons’ sales for the first quarter jumped, as the retailer increased its cost savings target by £300m to £1bn in the “medium term”.
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NewsLakeland becomes latest acquisition target for Modella Capital
Lakeland has emerged as a takeover target for several investment groups, including Modella Capital, which owns Hobbycraft and The Original Factory Shop.
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NewsUK inflation falls ahead of chancellor’s spring statement
Inflation across the UK has fallen further than expected ahead of chancellor Rachel Reeves’ spring statement later today.
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NewsVirgin Wines reports ‘resilient’ sales and profits as it targets £100m in revenue
Virgin Wines hailed “strong profitability” during the first half.
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NewsTHG completes £90m fundraise to support ‘strategic growth targets’
THG has completed a £90m fundraiser as it requested a debt refinancing and equity raise to support “strategic growth targets.”
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NewsAO profit expected to come in at top end of guidance
Electricals retailer AO expects its profit to come in at the top end of its guidance range as its adjusted profit before tax grows faster than sales.