Latest finance news – Page 7
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NewsSweaty Betty axes jobs as it makes return to profit
Fashion and athleisure brand Sweaty Betty has cut its workforce as it makes its first return to profit since 2021.
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NewsWhittard celebrates fourth consecutive year of financial growth
Whittard of Chelsea, the renowned British tea, coffee and hot chocolate company, released their 2024 financial results, showing robust growth both domestically and internationally.
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NewsRecord-breaking UK summer heat drives garden sales
It may now be the rain getting your garden wet, but the hot summer in the UK helped drive bumper sales in the garden category. That includes a 140% year-over-year spike in sprinkler sales
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NewsFrasers Group names former audit watchdog head as new chair
The former head of the Financial Reporting Council has been appointed by Frasers Group as its new chair.
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NewsBoots ‘well positioned for future’ following Sycamore deal
Health and beauty giant Boots is “well positioned for the future”, its bosses maintained as a new ownership structure takes effect.
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NewsAsda enjoys best like-for-like quarter in over a year
Asda has reported a drop in total and like-for-like sales, but enjoyed its best like-for-like quarter in over a year. While now over, its IT upgrade also continues to affect product availability and will impact sales in the current quarter.
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NewsCastore agrees deal for luxury menswear retailer Belstaff
Sportswear giant Castore has acquired premium British menswear brand Belstaff from Jim Ratcliffe-owned parent company Ineos in a cash-free, debt-free deal, Retail Week can reveal.
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NewsLego posts record top line and double digit bottom line growth
Lego has posted record sales growth and double digit bottom line growth, according to its latest half-year results.
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NewsJD Sports underlying sales slip as it maintains cautious outlook due to tariffs
JD Sports has said it “remains cautious” on its outlook as indirect impacts of tariffs, tough trading conditions and strains on consumer finances persist.
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NewsFrasers Group takes stake in UK leisure firm
Frasers Group, which owns Sports Direct, House of Fraser and Flannels, has taken a minority stake in a UK leisure firm.
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NewsDebenhams Group eyes PrettyLittleThing sale to balance its books
Debenhams, formerly the Boohoo Group, has announced that it is exploring the possibility of offloading struggling brand PrettyLittleThing to balance its books.
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NewsPoundland wins go-ahead for restructuring plan from High Court
Value retailer Poundland has been given a green light to restructure, providing a lifeline as it launches a revival strategy.
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NewsNew Look owner taps up Rothschild as it mulls potential sale
The owners of fashion chain New Look have appointed Rothschild to conduct a review of the business, as it mulls a potential sale.
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NewsRevolution Beauty co-founders return after struggle to find new buyer
Revolution Beauty will see the return of its co-founders to “reset” the business after it couldn’t find a buyer during a formal sales process.
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NewsRetailers warn chancellor that prices will rise if more tax is imposed in autumn Budget
Over 60 of the UK’s largest retailers have written a letter to chancellor Rachel Reeves warning her that prices will rise if additional tax hikes are introduced in the upcoming autumn Budget.
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NewsConsumer confidence increases but rising inflation looms
Consumer confidence has risen slightly in August, but this may not last long as there are “clouds on the horizon in the form of inflation”.
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NewsDebenhams completes £175m refinancing deal
The company announced that a new three-year credit facility would be led by investment firm TPG Angelo Gordon, a subsidiary of TPG which had helped take the Debenhams department store chain private in 2003.
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NewsWHSmith issues shock profit warning
WHSmith, which sold off its UK high street arm earlier this year to focus on its travel operations, has revealed a financial review found an overstatement of £30m in headline profit in its North American division.
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NewsFrasers Group mulls bid for Manchester Arndale centre
Frasers Group is weighing up a bid to take a 50% stake in Manchester’s iconic Arndale centre shopping centre, Retail Week understands.
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NewsConsumer confidence ‘in the doldrums’
Consumer expectations are showing signs of stagnation, according to the British Retail Consortium.