Latest finance news – Page 204
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NewsRetailers slip down The Sunday Times Rich List
A number of retailers, including Sir Philip Green, have tumbled down this year’s The Sunday Times Rich List as turbulent conditions on the high street take a toll on personal fortunes.
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NewsAshley to invest millions in upgrading House of Fraser stores
Mike Ashley has pledged to invest hundreds of millions of pounds into House of Fraser in exchange for three-year rent holidays on the redeveloped stores.
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NewsAgenda: Asda, Kingfisher and Burberry update the market
Retail Week looks ahead to the next seven days with updates from Asda, Kingfisher and Burberry on the agenda
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NewsWilko swings to full-year profit despite sales dip
Wilko has posted a return to profit in its full-year results, driven by a cost-cutting drive.
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NewsSelect in administration after 'horrendous' Christmas
Select has collapsed into administration, leaving the future of its 169 stores and 1,800 employees hanging in the balance.
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NewsHamleys sold to Indian franchise partner
Hamleys has been snapped up by Indian titan Reliance Industries in a £70m deal.
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NewsDebenhams creditors give CVA green light
Debenhams’ creditors have approved the department store chain’s CVA, paving the way for it to close 22 stores next year.
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NewsDebenhams remains in hands of lenders after failed sale process
Debenhams’ sale process ended yesterday with no acceptable bids received as the department store’s creditors, investor consortium Celine, confirmed its commitment to the business.
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NewsMorrisons wholesale arm drives like-for-like rise in first quarter
Morrisons has unveiled positive like-for-like sales in the first quarter for the fourth consecutive year, driven by the strength of its wholesale business.
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NewsThe Works celebrates ‘successful year’ as revenues soar
The Works has cautioned full-year profits would come in at the lower end of expectations despite hailing a “successful year” of sales growth.
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NewsSuperdry issues profit warning
Superdry has issued a profit warning, after cautioning full-year profits would come in “lower than the current range of market expectations”.
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NewsBonmarché board unanimously rejects Philip Day offer
Bonmarché has unanimously rejected the offer made by prospective buyer Philip Day, and said the cost-reduction plans of its board will succeed “in the medium term”.
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NewsWickes hails 'encouraging' first quarter sales
Wickes has posted an increase in sales during its first quarter, driven by a “strong turnaround” in its kitchen and bathroom categories.
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NewsLeaders call for review of ‘unsustainable’ business rates
The president of the Confederation of British Industry (CBI) is calling for an independent review of the “uneconomical, unsustainable and unintelligible” business rates system.
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NewsCredit insurer Atradius slashes retail sector outlook
Credit insurance firm Atradius has downgraded the retail sector’s performance outlook for the year ahead from ‘fair’ to ‘poor’.
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NewsCo-op appoints former Lloyds of London executive as finance boss
The Co-op has appointed Shirine Khoury-Haq as its new chief financial officer, replacing Ian Ellis who announced his retirement last year.
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NewsWalmart mulls Asda sale after failed Sainsbury’s mega-merger
Walmart is exploring the possibility of exiting from Asda after the CMA blocked its merger with fellow big four grocer Sainsbury’s.
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NewsNew Look completes debt restructure
New Look has completed its restructuring, slashing its debt to enable it to invest in its turnaround strategy.
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NewsAgenda: Morrisons and Superdry update the market
Retail Week looks ahead to the next six days with updates from Morrisons and Superdry on the agenda
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News
Wayfair's losses widen despite soaring sales
Wayfair’s losses widened despite posting a surge in sales and a record-breaking promotional day in its first quarter.