Latest finance news – Page 244
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NewsSmiggle readies Oxford Street flagship as sales surge
Smiggle is preparing to open an Oxford Street flagship and has reported a surge in first-half sales outside of its homeland.
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NewsL'Oréal snaps up AR-tech beauty firm ModiFace
L’Oréal has acquired Canadian augmented reality and artificial intelligence focused beauty company ModiFace to bolster its digital capabilities.
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NewsConviviality considers equity fundraising in cash crisis
Conviviality, the embattled drinks retailer and wholesaler, has had “constructive discussions” with lenders and support from stakeholders as it addresses a funding crisis and may launch equity fundraising as it seeks to stabilise.
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NewsTesco shares climb as JP Morgan turns buyer
Tesco’s tie-up with wholesaler Booker has won over big broker JP Morgan, which has become a buyer of the grocer’s stock for the first time in five years.
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NewsClaire’s UK business safe despite US bankruptcy fears
Claire’s Accessories’ UK business does not face looming closure, despite reports that the retailer’s core US business may file for bankruptcy.
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NewsAgenda: Ocado, Kingfisher, ScS, Ted Baker and Next
Retail Week looks ahead to the next seven days, with updates from Ocado, Kingfisher, ScS, Ted Baker and Next on the agenda.
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NewsCarpetright mulls CVA as part of turnaround mission
Struggling flooring specialist Carpetright is being advised by Deloitte about possible restructuring options including a company voluntary arrangement (CVA), Retail Week understands.
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NewsH&M sales slow in first quarter despite store openings
H&M has suffered a slowdown in sales during its crucial Christmas quarter despite pressing ahead with a rapid store expansion programme.
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NewsInditex global profits up as online sales jump
Inditex’s full-year profits and sales have risen during a year in which the retail giant ploughed ahead with global expansion.
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NewsBest bet for Bunnings is to exit UK, said JP Morgan
Analysts at JP Morgan calculated that the “least bad outcome” for Bunnings-owner Wesfarmers would be to pull out of its fledgling UK operations.
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NewsToys R Us to close all stores as search for buyer fails
Administrators have failed to secure a buyer for Toys R Us and have informed staff that all of its 100 UK stores will close over the next six weeks.
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NewsBargain Booze owner Conviviality hit by cash crisis
Bargain Booze owner Conviviality is facing a cash squeeze after discovering it must pay HMRC £30m by the end of this month.
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NewsMorrisons like-for-likes up as profit climbs
Morrisons like-for-likes and profits rose over its last year, making the period its third consecutive year of growth.
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NewsChancellor unveils business rates changes
Chancellor Philip Hammond has confirmed in his Spring Statement that business rates will now be reviewed every three years.
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NewsMaplin sale hopes fade as retail rivals circle stores
A clutch of retailers are circling Maplin’s store estate as its hopes of securing a rescue deal rapidly evaporate.
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NewsFrench Connection trims losses amid store closure plan
French Connection has narrowed its full-year losses and pledged to close more outlets this year.
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NewsMaplin head office staff axed by administrators
The administrators of electricals retailer Maplin have made redundancies at its headquarters.
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NewsAgenda: Morrisons, French Connection and Eve Sleep
Retail Week looks ahead to the next seven days, with updates from Morrisons, French Connection and Eve Sleep on the agenda.
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NewsConviviality warns on profits after forecasting error
Conviviality has issued a profit warning after uncovering “a material error” in its financial forecasts.
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NewsJohn Lewis profits tank as bonus lowest since 1954
John Lewis Partnership’s full-year profits plummeted as its department store was hit by restructuring costs due to redundancies.