Latest finance news – Page 75
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NewsWilko redundancies on hold while rescue bids considered
Redundancies at Wilko have been put on hold while last-minute rescue bids for the troubled retail chain are considered.
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NewsNatura eyes sale of The Body Shop
The Body Shop’s parent company Natura & Co is reportedly eyeing a sale of the business after difficulties making the retailer more profitable.
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NewsGMB seeks ‘urgent meeting’ with business secretary regarding Wilko administrators
The GMB union is reportedly seeking an “urgent meeting” with business secretary Kemi Badenoch to confirm that Wilko administrator PwC is considering all bids for the collapsed value retailer.
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NewsClintons to close 38 stores as restructuring plan approved
Clintons will close 38 stores after an insolvency court approved a restructuring plan to avoid a complete collapse of the business, the Evening Standard has reported.
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NewsUK consumer confidence regains momentum in August
UK consumer confidence regained momentum in August showing signs of “renewed optimism” after it had a dramatic six-point fall in July.
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NewsHMV owner Putman makes last-minute offer for Wilko
HMV owner Doug Putman has made a last-ditch offer to save troubled retailer Wilko after the company fell into administration.
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NewsAbercrombie & Fitch raises outlook as brand positioning pays off
Abercrombie & Fitch has raised its outlook for the full financial year as it recorded a surge in sales during the second quarter, which it credits to the success of the “positioning and assortment” of its brand portfolio.
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NewsPoundland and B&M circle 150 collapsed Wilko stores
Poundland owner Pepco Group and B&M European Value Retail, which trades as B&M, are reportedly in talks to acquire around 150 of Wilko’s stores, following failed attempts to find a buyer for the whole group.
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NewsWilko: jobs to be lost and stores closed as attempts to find buyer fail
Wilko’s administrator has concluded that jobs will be lost and stores will close after it failed to find a buyer for the whole business.
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NewsFoot Locker swings to loss driven by ‘ongoing consumer softness’
New York-based sports retailer Foot Locker reported a 10% fall in sales in the second quarter of the year impacted by “ongoing consumer softness, changing vendor mix and the repositioning of Champs Sports”.
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NewsTrue partners with Apparel Brands Limited for global growth
Investment and innovation company True has confirmed its “strategic investment” in British clothing wholesale business Apparel Brands Limited (ABL) in a bid to “accelerate growth” within the wider branded apparel market.
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NewsUrban Outfitters owner posts surge in sales
Fashion and lifestyle retailer URBN, which owns brands including Urban Outfitters, Anthropologie and Free People, has posted a surge in sales during its second quarter as well as the first half of the financial year.
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NewsLondon Designer Outlet posts record sales
London Designer Outlet at Wembley Park achieved a “record” month of trading in July, putting the month’s figures “on par” with the Christmas period at the destination.
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NewsWilko £48m warehouse sale raises speculation
Wilko sold its flagship depot in a “controversial sale and leaseback deal”, which reportedly indicates the embattled retailer passed up on as much as £40m in a bid to stay afloat.
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News‘Genuine grounds for hope’ on Wilko, GMB union believes
There are “genuine grounds for hope” that a buyer will take over all or part of bust retailer Wilko, according to the GMB trade union.
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NewsFarfetch sales dip as brand platform faces challenges
Farfetch has reported declining sales and profit, “primarily driven by a 42.2% decrease in brand platform revenue”.
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NewsBRC warns failure to act on business rates will add £400m ‘additional pressure’
The British Retail Consortium has welcomed falling inflation but warned the government risks adding £400m additional pressures on prices without business rates freeze.
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NewsModerating food price rises contribute to lower inflation rate
The rate of inflation fell in July, helped by lower food price growth.
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NewsEG Group offloads bundle of US convenience stores
Forecourt retail specialist EG Group is to sell a bundle of convenience stores in the US.
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NewsAsda credits focus on value for sales jump
Supermarket chain Asda has reported a 9.6% increase in like-for-like sales, which it credited to its “continued focus on value”.