Latest finance news – Page 61
-
NewsJohn Lewis plans 11,000 job cuts as it slashes redundancy pay
John Lewis Partnership is reportedly considering cutting up to 11,000 jobs over the next five years in its latest bid to return to profitability.
-
NewsLVMH profits and sales grow in ‘another historic year’ for Sephora
Luxury goods conglomerate LVMH reported a surge in sales and profits as beauty giant Sephora delivered an “exceptional performance” for the full year 2023.
-
NewsFarfetch investors worried over ‘value destruction’ from Coupang takeover
A group of investors behind Farfetch are concerned over the “value destruction” as a result of Coupang’s acquisition of the global ecommerce giant and have appointed advisers to evaluate their options.
-
NewsSuperdry CFO steps down as it issues profit warning
Superdry reported a fall in sales and said it expects full-year profitability to be impacted as it blamed “a challenging consumer retail market” set against ”macroeconomic uncertainty and some remarkably unseasonal weather conditions” for its weakened financial performance.
-
NewsWHSmith sales soar driven by ‘strongest ever’ travel division
WHSmith posted growth in sales in the 20 weeks to January 26, 2024, as it achieved its “strongest ever position as a global travel retailer”.
-
NewsUK consumer confidence rises to best score in two years
UK consumer confidence rises to “best headline score in two years” as optimism strengthens with inflation predicted to fall in the next 12 months.
-
NewsThe Fragrance Shop sales surge in 'exceptional' Christmas
The Fragrance Shop has posted a record-breaking Christmas as sales surged in the 13 weeks to December 31, 2023.
-
NewsIkea slashes global carbon footprint as revenues surge
Ingka Group, the largest of Ikea’s retail brands, has slashed its carbon emissions by 12.7% year on year while delivering a 30.9% increase in revenue for the same period.
-
NewsPuma posts sales increase but warns of challenges ahead
Puma has reported a sales increase during the 2023 full year despite warning of the ongoing “geopolitical and macroeconomic challenges” likely to persist in 2024.
-
NewsDr Martens sales dip in ‘volatile’ quarter
Dr Martens has reported a decline in sales due to “volatile” trading during the third quarter but has held firm on profit guidance for the year ahead.
-
NewsHalfords maintains profit guidance after ‘resilient’ performance
Halfords has maintained its full-year profit guidance after a “resilient” third quarter in what the retailer said remains a “very challenging consumer environment”.
-
NewsMorrisons to sell petrol forecourts in £2.5bn deal
Grocery giant Morrisons is on the brink of sealing a £2.5bn deal with CD&R-owned Motor Fuel Group to sell its petrol forecourts.
-
NewsBoohoo shuffles top team as CFO Shaun McCabe steps down
Boohoo chief financial officer Shaun McCabe has stepped down from his role at the online fashion giant to be succeeded by Stephen Morana next month.
-
NewsQuiz posts dip in sales due to inflation
Quiz has posted a drop in sales over Christmas as the “negative impact” of inflationary pressures on consumers took its toll on the fashion retailer.
-
NewsPrimark posts rise in sales over Christmas
Primark has posted a rise in sales across its UK, European and US markets despite a “slow start” to Christmas trading due to unseasonally warm weather.
-
NewsExclusive: Business rates and tackling crime top BRC election wish list
The British Retail Consortium is calling on the UK’s political parties to ensure that business rates are made more sustainable and that retail crime becomes a standalone offence, as it gears up for the general election this year.
-
NewsVirgin Wines hails ‘good Christmas’ as sales and profitability jump
Virgin Wines has hailed a strong Christmas trading period, reporting increases in both total revenues and profitability and maintaining its full-year profit guidance.
-
NewsBirkenstock warns on profits despite ‘most successful’ year to date
German footwear retailer Birkenstock has warned that 2024 EBITDA margins are expected to see a “modest headwind” due to increased costs, despite posting booming sales and profits in its “most successful” year to date.
-
NewsLogistics giant Wincanton to go private in £560m mega deal
Wincanton is set to be snapped up by French shipping giant CMA CGM and delisted from the London Stock Exchange in a deal worth over £560m.
-
NewsDFS suffers weather hit to sales but confident in full-year guidance
Sofa giant DFS has reported a fall in demand but still expects to meet full-year earnings expectations.