Latest finance news – Page 57
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NewsMorrisons racks up annual loss of £1bn
Morrisons has suffered an annual loss of £1bn as it battled intense competition and laboured under the weight of debt.
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NewsMango profits double as sales surpass €3bn for the first time
Mango has announced soaring profits and sales for the 2023 financial year, with sales surpassing €3bn (£2.64bn) for the first time.
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NewsAnn Summers sales and profits heat up as shoppers return to stores
Ann Summers has posted an increase in full-year sales and profits as Halloween proved a hit and customers returned to in-store shopping.
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NewsSuperdry lines up Hilco to secure £20m loan
Embattled fashion retailer Superdry is reportedly having discussions with one of its existing lenders, Hilco, to negotiate a new multimillion-pound funding facility.
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NewsThe Body Shop files for bankruptcy in US and Canada
The Body Shop’s US and Canadian arms have filed for bankruptcy despite being profitable after the beauty retailer’s UK business went into administration last month.
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NewsElliott Advisors abandons Currys takeover plans
US investment firm Elliott Advisors has confirmed it is abandoning takeover plans for electricals retailer Currys.
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NewsHMV boss Doug Putman considers rescue bid for The Body Shop
HMV owner Doug Putman is reportedly mulling a bid to buy The Body Shop out of administration after its collapse in February just weeks after being taken over by Aurelius.
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NewsCurrys completes sale of its Greek business Kotsovolos
Currys has completed the sale of its Greek business Kotsovolos after first entering a deal with Greek electricity supplier Public Power Corporation (PPC) in November last year.
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NewsFrasers Group puts Matches into administration
Frasers Group is putting online luxury fashion retailer Matchesfashion into administration after buying it less than three months ago.
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NewsHugo Boss sales hit €4bn for first time in record year
Fashion retailer Hugo Boss has posted sales of more than €4bn (£3.4bn) for the first time in its history in a “record” year for the business.
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NewsAbercrombie & Fitch sales surge across all regions and brands
Abercrombie & Fitch Co has posted a surge in sales in its fourth quarter and the full financial year, with sales up in all regions and across all brands.
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NewsFoot Locker records losses despite sales rise
New York-based sports retailer Foot Locker has reported a net loss, despite sales being ahead of expectation in the fourth quarter of 2023.
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NewsIssa brothers in talks to disentangle assets
Zuber Issa wants to buy out his older brother, Mohsin, from parts of their petrol station empire.
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NewsSector left ‘bitterly disappointed’ as calls for reform once again fall on deaf ears
Currys boss Alex Baldock has slammed today’s Budget as “bitterly disappointing”, as the retail sector’s ongoing calls for reform on issues like business rates fell on deaf ears.
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NewsM&S boss criticises ‘economically illiterate’ business rates revaluation
Marks & Spencer boss Stuart Machin has criticised plans to raise business rates from the end of next month and lashed out at the government’s handling of the economy ahead of today’s Budget.
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NewsGreggs profits and sales on a roll in ‘record’ year
Greggs has posted booming profits and sales as market share reached an “all-time high” and the food-to-go retailer maintained its guidance for the 2024 financial year.
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NewsBRC urges chancellor to set new business rates at lower inflation levels
BRC and four other trading bodies have written to the Chancellor ahead of the spring budget urging him to align business rates rise with April inflation rates – currently at 2%.
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NewsFrasers buys Wiggle out of administration
Frasers Group has snapped up cycling retailer Wiggle, acquiring the brand and intellectual property after the business fell into administration in October last year.
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NewsThe Body Shop administrators investigate missing millions
The Body Shop’s administrators are investigating claims of millions of unaccounted funds that were taken out of the business before its collapse.
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NewsOxford Street revamp set to deliver £2.8bn in additional sales by 2033
The new £90m Oxford Street programme is expected to drive 5% to 10% in sales growth per year to potentially reach £2.8bn in additional sales between 2027 and 2033, according to the New West End Company.