Latest finance news – Page 76
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NewsThe Body Shop reviewing ‘every aspect’ of its business as profits hit
Cosmetics giant Natura & Co posted strong profitability driven by gross margins but said The Body Shop is ”fundamentally reassessing every aspect of its business” as profits fell.
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NewsHarrods sales and profits climb in post-pandemic bounceback
Luxury department store Harrods has reported strong sales and profit growth after its landmark Knightsbridge store returned to normal trading after the pandemic lockdowns.
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NewsB&M and Poundland in running to save Wilko
Value retailers including B&M and Poundland are eyeing possible bids for struggling retailer Wilko after it fell into administration.
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NewsMarks & Spencer upgrades profits as sales grow
M&S has upgraded its profit outlook after growing market share in its clothing and home and food businesses.
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NewsL’Occitane shares jump as owner mulls deal to take group private
Beauty and skincare brand L’Occitane saw a jump in share price on the Hong Kong Stock Exchange as the controlling shareholder is in advanced talks on a potential deal to take the company private.
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NewsWilko administrator sets deadline for offers
Wilko administrator PwC has set a deadline for interested parties to submit their first offers to buy the variety value retailer following its announcement of administration last week.
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NewsTesco Express to swap 50 key products with alternatives
Tesco has announced it will overhaul its Express stores by swapping more than 50 key everyday products with lower-priced alternatives.
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NewsJohn Lewis boss plans buy now, pay later service
John Lewis Partnership’s chief executive is planning to roll out a buy now, pay later service for its customers as they become increasingly affected by the cost-of-living crisis.
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NewsWilko collapses into administration
Wilko has fallen into administration after failing to secure a rescue deal, but stores will remain open while a buyer is urgently pursued.
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NewsMarks Electrical hails strong sales ahead of AGM
Marks Electrical hailed strong sales growth in the first four months of the year “driven by excellent customer service” ahead of its AGM today.
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NewsWatches of Switzerland sales dip
Watches of Switzerland has reported a fall in total sales but said performance remains “in line with our guidance and expectations” in the first quarter ending July 2023.
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NewsWilko stops home deliveries for online orders
Wilko has pressed pause on home deliveries for orders on its website as it is in the midst of talks for a potential rescue deal.
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NewsUnder Armour sales slip against ‘challenging consumer environment’
In a trading update for the first quarter ending in June, Under Armour reported total sales of $1.3bn (£1.02bn), down 2% from the same period last year, and 1% in currency-neutral terms. Operating income was $21m (£16.5m) and net income was $9m (£7m).
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NewsJD Sports takes full ownership of Poland’s MIG
JD Sports has entered “a conditional agreement to acquire the outstanding 40% minority stake” of Marketing Investment Group (MIG) making it the 100% sole owner of the Poland-based footwear and clothing company.
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NewsFormer PrettyLittleThing boss acquires stake in Boohoo
PrettyLittleThing co-founder and former chief executive Umar Kamani has made a “significant investment” in online fashion giant Boohoo, which was originally established by his father Mahmud Kamani and Carol Kane.
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NewsFood prices may never fall following Ukraine invasion
The price of food may not fall back down, according to the chief economist at the Bank of England.
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NewsSuperdry secures fresh funding of up to £25m
Fashion retailer Superdry has secured funding of up to £25m in its latest bid to “help accelerate” its turnaround plan and cost-reduction programme.
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NewsCard Factory upgrades profit expectations
Card Factory has raised earnings expectations after a strong first half.
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NewsWilko would need £70m investment from a new owner
Wilko, which is teetering on the edge of administration, would need investment of £70m from any new owner.
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NewsAllSaints posts record results as product focus pays off
Fashion retailer AllSaints has reported its best-ever annual sales and profits.