Latest finance news – Page 73
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NewsQuiz warns on profits as cost of living hits consumers
Fashion retailer Quiz has cautioned that a full-year loss is likely after sales in the year to date fell below the previous year’s levels.
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NewsKingfisher cuts profit forecast as tough trading conditions bite
DIY giant Kingfisher has slashed full-year profit expectations after facing harsh trading conditions, particularly in overseas markets.
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NewsExclusive: Natura values Body Shop at £500m as it approaches new potential bidders
The owner of health and beauty specialist The Body Shop is holding out for between £400m and £500m for the retailer, despite the first deadline for bids passing without any concrete interest from prospective buyers.
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NewsFrasers Group to sell Missguided to Shein
Mike Ashley’s Frasers Group is in talks to sell Missguided to Chinese online giant Shein, Sky News reported.
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NewsH&M sales edge up in third quarter
Sales at fashion giant H&M edged up in the third quarter but were “flattish” in most local currencies as the cost-of-living crisis and stiff competition made for a tough backdrop.
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NewsGousto on track for record profits despite cost-of-living crisis
Gousto is on track to post record profits this year despite record food inflation and the cost-of-living crisis, the meal kit box subscription business said.
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NewsThe Range makes £5m deal to acquire Wilko brand and website
Value retailer The Range has made a deal to buy the Wilko brand from administrators PwC for around £5m, saving 36 jobs in the process.
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NewsJohn Lewis upgrades profit outlook but delays end of transformation plan
John Lewis has upgraded its full-year financial guidance after narrowing losses and increased sales in the first half, but has delayed implementation of its transformation plan by two years.
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NewsTHG losses deepened by one-off disposal costs
THG operating losses deepened due to a one-off, non-cash charge related to the sale of its loss-making business, but the retailer says the disposal has improved its overall financial guidance.
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NewsBirkenstock to launch IPO in the US
German footwear retailer Birkenstock has reportedly filed for an initial public offering (IPO) on the New York Stock Exchange following months of speculation.
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NewsInditex sales and profits continue to climb
Inditex has reported an increase in profit and sales that the group said is a result of a “very robust operating performance”.
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NewsPepco Group to snap up 71 former Wilko stores
Pepco Group has reached an agreement with administrator PwC to acquire up to 71 former Wilko sites.
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NewsWickes sales increase as growth strategy pays off
Wickes reported an increase in sales driven by the “strength of our balanced business model and outstanding customer service delivered by our colleagues”.
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NewsPrimark expects growth in sales despite unseasonable weather
Value fashion giant Primark said it expects growth in sales and profit despite the “unusually variable and unseasonable weather” in the fourth quarter ahead of its full-year results.
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NewsAll Wilko branches to close by next month with the likely loss of 12,500 jobs
All 400 branches of Wilko will close by early October with the anticipated loss of all 12,500 jobs across the business, according to the GMB union.
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NewsWilko rescue deal collapses, putting thousands of jobs at risk
A rescue deal for Wilko being worked on by HMV owner Doug Putman has collapsed, leaving the future of thousands of jobs in limbo.
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NewsRetailers call on Jeremy Hunt to freeze business rates
A group of 44 retail leaders across the industry have written to the chancellor of the exchequer, Jeremy Hunt, to call for a freeze in business rates as part of his autumn statement.
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NewsMotatos exits the UK after one year
Online discount grocer Motatos has closed its UK store with immediate effect after launching in the country just over a year ago.
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NewsAnn Summers posts rise in sales in ‘year of two halves’
Ann Summers has posted a rise in sales during a financial year “of two halves” and confirmed plans to add new stores to its UK portfolio by the end of next year.
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NewsCurrys posts dip in revenue as profit guidance remains ‘unchanged’
Currys has posted a decline in group revenue for the 17 weeks ending August 26, 2023, but has made no changes to its profit guidance for the year.