Latest finance news – Page 53
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NewsAsda sales and profits increase as it continues focus on growth
Asda has reported increased sales and underlying profits as the supermarket continues its strategy to focus on growth.
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NewsOcado shareholders push for switch to New York stock market
Ocado is under pressure from its shareholders to consider leaving the London stock market for New York, according to The Sunday Telegraph.
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NewsAsda co-owner Zuber Issa close to selling £500m stake
Asda co-owner and billionaire Zuber Issa is reportedly edging closer to securing a deal to sell his £500m stake in the grocer to private equity firm TDR Capital.
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NewsL’Oréal sales surge as mass-market beauty outgrows luxury
Global cosmetics giant L’Oréal has kicked off the first quarter with high-single-digit growth in sales as it “continued outperformance in a global beauty market that remained dynamic”.
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NewsShein revives interest in Topshop
Shein is understood to have rekindled its interest in Asos-owned Topshop alongside ABG, The Times reports.
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NewsDunelm guidance unchanged despite sales growth
Dunelm has posted a surge in sales driven by volume and growth across both in-store and digital channels in the third quarter, ending March this year.
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NewsTrouva acquired for third time in two years
Trouva has been bought by Fy!, the third time the brand has changed hands in two years.
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NewsLVMH revenue slips in ‘uncertain’ global market
Luxury retail group LVMH has posted a slight decline in overall reported revenue growth as it continues to trade in an “uncertain” geopolitical and economic environment.
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NewsAdidas increases profit guidance as sales exceed expectations
Global sportswear giant Adidas has increased its full-year profit guidance after its performance exceeded expectations in the first quarter of 2024.
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NewsShein executive distances retailer from ‘labour practices’ concerns
A senior Shein director has maintained that technological prowess rather than supply chain working conditions have driven the pureplay fashion giant’s success.
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NewsInflation rate reaches lowest level in over two years
The rate of inflation has fallen to its lowest level in two-and-a-half years, according to the latest figures by the Office for National Statistics.
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NewsAsos sales continue to fall as it appoints new CFO
Asos has reported another slump in sales but says it will meet profit guidance for this year as it introduces a new chief financial officer.
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NewsGetir weighing asset sales as part of restructuring talks
Getir, one of the world’s largest rapid-delivery grocery platforms, is weighing a string of asset sales as part of a restructuring of the business after its valuation plummeted.
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NewsSuperdry to quit stock market as part of survival plan
Superdry is poised to de-list from the London Stock Exchange as part of a restructuring plans that it says are critical to its long-term survival as a brand.
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NewsCharles Tyrwhitt sales jump as brand pivots to casual work attire
Suits and shirts specialist Charles Tyrwhitt expects its business to grow by 20% over the next year as customer demands for casual work attire booms.
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NewsGetir eyes restructuring as market value plummets
Getir, one of the world’s largest rapid-delivery grocery platforms, is in talks over a restructuring of the business after its valuation plummeted.
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NewsUniqlo owner posts ‘strong’ profits and sales increase
Uniqlo parent company Fast Retailing has posted a rise in both profits and sales during its first half as all geographies posted a “strong” performance.
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NewsTHG Beauty boss expects return to growth in ‘extremely buoyant’ market
THG Beauty, which owns pureplay retailers including Lookfantastic and Cult Beauty, expects to return to growth in the next financial year as sales grew at a double-digit rate in the last quarter and the premium beauty market in the UK remains “extremely buoyant”, according to chief executive Lucy Gorman.
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NewsPoundstretcher snapped up by Majestic Wine owner Fortress
Value chain Poundstretcher has been bought by Majestic Wine owner Fortress for an undisclosed fee.
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NewsPepco group sales rise but like-for-likes stutter as it unveils new CEO
Pepco has delivered something of a mixed bag as group sales jumped but like-for-like sales lapped tough comparatives as it unveiled a new group chief executive.