Latest finance news – Page 62
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NewsN Brown ‘confident’ in strategy despite dip in sales
Fashion group N Brown, which owns Simply Be, Jacamo and JD Williams, has said it is “confident” in its strategic direction for the year ahead, despite posting a dip in sales in its third quarter.
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NewsWatches of Switzerland issues profit warning
Watches of Switzerland has issued a profit warning as shares plummeted by more than 25% this morning. In the run-up to Christmas, consumers opted to spend on fashion, beauty, travel and hospitality rather than luxury.
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NewsJD Sports completes Polish acquisition
JD Sports has completed the acquisition of Poland-based footwear and clothing company Marketing Investment Group (MIG) as it strengthens its foothold in Central and Eastern Europe.
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NewsNaked Wines sales slip as repeat customer base shrinks
Naked Wines said that constant currency sales were down over peak trading but are steadily improving, despite its average repeat customer base shrinking by 12%.
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NewsCurrys upgrades profit guidance despite sales slip
Currys expects full-year profits to exceed consensus expectations following a “successful peak trading period”.
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NewsDunelm holds firm on outlook despite surging sales
Dunelm has refused to nudge up full-year profit expectations despite hailing “strong sales growth” in the first half of the year.
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NewsPepco delivers record revenues as it warns on Red Sea disruption
Pepco Group, which owns Poundland in the UK and the Pepco and Dealz brands in Europe, has posted record first-quarter group revenues.
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NewsLosses deepen at The Works as Christmas fails to deliver
The Works has reported deepening losses as cash-strapped customers prioritised food and essentials over gifts at Christmas.
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NewsUK inflation rate increases to 4%
The annual rate of inflation has increased to 4% in a surprise rise, according to the Office for National Statistics (ONS).
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NewsMulberry sales decline as UK VAT hits luxury sector
Luxury fashion retailer Mulberry has posted a fall in sales which the group said was impacted by a “challenging macroeconomic backdrop” and a decline in luxury consumer spending.
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NewsSuperdry appoints PwC to review finances after profit warning
Fashion retailer Superdry has appointed PwC as advisers to examine debt-raising options as pre-Christmas trading suffered.
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NewsBooths hails record Christmas week sales
Independent supermarket Booths has hailed record sales over the seven days leading up to Christmas.
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NewsTHG returns to revenue growth after ‘best performance of 2023’
THG, which owns health and beauty brands like Lookfantastic and MyProtein has posted a return to revenue growth in the “best quarterly performance of 2023.”
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NewsCard Factory delivers strong sales in festive season
Specialist retailer Card Factory has reported a strong performance in the run-up to Christmas as it expects to deliver adjusted profit before tax at the top of the range of market expectations.
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NewsOcado Christmas sales hit ‘highest ever level’
Ocado has posted growth in sales as it delivered “another record Christmas and hit its highest-ever level of sales” over the peak trading period.
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NewsBrandAlley acquires footwear resale platform The Edit LDN
Online retailer BrandAlley has acquired a majority stake in footwear resale platform The Edit LDN.
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NewsSuperdrug sales surge as market share grows
Superdrug has reported a surge in sales driven by affordable pricing and uptake in members-only deals as customers continue to battle the cost-of-living crisis and inflation in the run-up to Christmas.
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NewsBattersea Power Station sales soar as Christmas boosts footfall
Battersea Power Station has reported a strong second Christmas as sales at the destination soared year on year and December proved to be its busiest of 2023.
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NewsSeasalt Christmas sales surge as shoppers return to stores
Seasalt has reported “record” Christmas trading performance across all channels, crediting store performance in particular as the brand continues to resonate with shoppers.
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NewsBurberry drops profit expectations as demand for luxury slows
Burberry has dropped its full-year profit guidance after it reported that sales in the run-up to Christmas were hit by waning demand for luxury.