Latest finance news – Page 369
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NewsThorntons chief exec Jonathan Hart steps down after four years at the helm
Thorntons chief executive Jonathan Hart is stepping down from the embattled chocolatier after four years heading up the business.
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NewsBritain expects first deflation in more than 50 years
Britain is expected to fall into deflation for the first time in more than 50 years because of falling food and fuel prices.
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NewsNew Look boss: New owner Brait is in it for the long term
New Look’s boss has welcomed Brait and its long-term investment plan for the retailer, suggesting it is not a typical private equity firm.
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NewsNew Look sold to South African investment group Brait in £1.9bn deal
Fashion retailer New Look has been sold to South African investment group Brait in a deal valuing the retailer at £1.9bn.
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NewsBreakfast Briefing: Retail News on New Look, Co-op and Unite
Retail news round-up on May 15, 2015: New Look acquired by Brait, Co-op offers board overhaul compromise, and Uniteseeks discussions with supermarkets over job cuts
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NewsUS private equity firm TPG buys majority stake in Poundworld in £150m deal
US private equity firm TPG has bought a controlling stake in Poundworld in a deal understood to be worth as much as £150m.
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NewsBHS bolsters pre-teen offering with Claire’s Accessories partnership
BHS has signed a deal with Claire’s Accessories to trial six concessions in stores to complement its pre-teen clothing range.
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NewsHarveys owner profits up 42% after focus on costs and promotions
Harveys and Bensons for Beds owner Steinhoff has recorded a profits surge after managing costs and taking a new approach to promotions.
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NewsBreakfast briefing: Retail news on Tesco, Co-op and Farfetch
Retail news round-up on May 13, 2015: Tesco to close remaining Homeplus stores, Farfetch acquires Browns and Co-op promises to amend its board election process.
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NewsThe Works majority shareholder Anthony Solomon bought out by Endless
The Works executive chairman and majority shareholder Anthony Solomon has sold his stake in the business to private equity firm Endless.
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NewsEtailer Zalando 'optimistic' for year after first quarter sales surge
German fashion etailer Zalando said it is “optimistic” for the rest of the year after sales surged 28.5% during its first quarter.
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NewsRetail sales slip in April due to Easter timing but underlying trade positive
Retail sales fell in April, distorted by the timing of Easter, but the underlying trend looks positive, according to the BRC-KPMG’s Retail Sales Monitor.
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NewsSajid Javid unveiled as business secretary in Cabinet reshuffle
Sajid Javid has been confirmed as the Conservative government’s new Secretary of State for Business, replacing Vince Cable.
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NewsBRC calls for Government to maintain business rates review momentum
The British Retail Consortium (BRC) has called on the new Government to maintain momentum with a review of the controversial business rates system.
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NewsConviviality Retail sales to rise despite delayed store openings and discounting
Conviviality Retail expects revenues to increase despite new stores opening later than expected and heavy discounting in the market.
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NewsTesco gears up for sale of mobile business as review of non-core assets continues
Tesco is preparing for a sale of its mobile business as chief executive Dave Lewis continues his strategy of disposing of non-core assets.
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NewsHarrods launches scent-emitting bus stop as part of floral store takeover
Harrods has launched a scent-emitting bus stop to draw customers’ attention to a floral takeover of its store that celebrates summer.
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NewsMonsoon outlines improvement plan after annual profits slide
Fashion retailer Monsoon Accessorize has launched a wide-ranging business improvement programme after profits nosedived last year.
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NewsMorrisons sales fall in first quarter under Potts: What the analysts say
Morrisons’ like-for-likes fell 2.9% in its first quarter, its first trading update since David Potts took the reins at the grocer.
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NewsScS blames 15.9% sales drop in April on general election uncertainty
ScS has blamed plunging like-for-likes and a drop in footfall in April on general election uncertainty and warmer weather as it issues a profit warning.