Latest finance news – Page 32
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NewsJD Sports says profit will be at lower end of guidance after ‘volatile’ sales
JD Sports said it now expects full-year profits to be at the lower end of its guidance range after “volatile” trading in October.
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NewsFrasers demands that Boohoo chair Kamani is replaced by Mike Ashley
In the latest escalation of the public war of words between the two retailers, Frasers has this morning publicly called for Boohoo founder and chair Mahmud Kamani to step down.
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NewsOnline sales in November off to ‘poor start’ ahead of Black Friday weekend
November ecommerce sales have gotten off to a “poor start” as sales dipped in the first two weeks of the month, according to IMRG’s online retail index.
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NewsSpace NK sales and profits rise driven by growth in active customer base
Space NK posted a growth in sales and profits in the year ending March 2024 driven by customer growth across generations.
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NewsLidl records highest growth in customer visits of any supermarket as profits increase
Lidl has revealed it experienced the highest growth in customer visits of any supermarket last year, as revenues and profits increase.
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NewsDunelm has acquired an Irish soft furnishings retailer to enter new market
Homewares retailer Dunelm has entered the Irish market by acquiring a soft furnishings retailer trading in the Republic of Ireland.
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NewsBank of England governor has warned of rising unemployment ‘risk’ following Budget
The Bank of England governor Andrew Bailey has warned there is a “risk” of unemployment increasing due to the effects of the recent Budget.
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NewsAnn Summers axes jobs in bid to cut mounting costs
Exclusive: Lingerie and sex toy retailer Ann Summers is laying off tens of employees across the business in a bid to cut mounting costs.
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NewsThe Body Shop is rebuilding its top team with new finance and marketing chiefs
The Body Shop has appointed a new chief marketing officer and chief financial and operations officer as it rebuilds its executive leadership team after being rescued from administration.
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NewsRevolution Beauty hails ongoing ‘transformation’ as profits rise but sales dip
Cosmetics retailer Revolution Beauty has reported an increase in profits for the first half of the financial year despite declining sales amid “year of transformation”
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NewsMulberry losses widen and sales slide as it looks to ‘rebuild’ and ‘reprioritise’ brand
Luxury fashion and accessories retailer Mulberry has reported deepening losses and falling sales as focus shifts on need to “reprioritise” and “rebuild” business.
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NewsRetail leaders call on government to ‘mitigate harmful effects’ of Budget
Leaders from across the sector have signed a letter calling on the government to phase in changes to national insurance contributions to ease the burden on the retail from the Budget.
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NewsAsos boss Ramos Calamonte receives bumper pay rise despite deepening losses
The boss of fashion giant Asos has received an almost 44% pay rise amid a turnaround at the retailer following mounting full year losses.
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NewsHuel posts record sales and triples profits in year of ‘strengthening our foundations’
Huel’s sales for the 2024 financial year surged past £200m for the first time, as its profits more than tripled to £13.8m in the year. It also completed construction of its in-house manufacturing facility in Milton Keynes.
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NewsAllSaints shows commitment to bricks-and-mortar with raft of international store openings
Fashion retailer AllSaints is ramping up its international expansion strategy with a raft of new store openings worldwide.
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NewsMorrisons pays down debt and extends revolving credit facility
Supermarket giant Morrisons has announced it has paid down a further £200m of debt and extended the maturity of its revolving credit facility to 2030, reducing its overall levels of debt.
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NewsBoohoo has raised £40m to fuel its turnaround
Boohoo has completed a fundraising round to fuel its turnaround amid a boardroom bust-up with its biggest shareholder.
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NewsShein is targeting early 2025 for blockbuster London float
Shein, the fast-fashion ecommerce giant, is reportedly preparing to launch its massive £50bn IPO on the London Stock Exchange in early 2025.
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NewsLidl increases investment in British made food to £21bn
Discounter Lidl says it is “on track” to increase its investment in British food to £21bn by the end of the year, exceeding its original five-year target by 40%.
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NewsBoohoo chief executive says all options are on the table as he commences business review
Boohoo’s new chief executive Dan Finley said he is considering all options as the retailer commenced a review of the business after losses deepened.