Latest finance news – Page 77
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NewsClintons mulls closing 38 stores
Clintons is considering closing 38 stores – approximately one-fifth of its store estate – to avoid insolvency, The Times has reported.
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NewsApple profits rise driven by ‘all-time revenue record in services’
Apple has reported increased profits with an “all-time revenue record in services” as the tech giant reaches more than 1 billion paid subscriptions.
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NewsAmazon profits climb as cost cutting pays off
Amazon has reported an increase in profits for the second quarter of the year and increased its guidance for the next quarter as cost-cutting measures paid off.
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NewsAdidas reports flat sales as market remains ‘volatile’
Adidas posted flat sales in the second quarter of the year “impacted by the company’s conservative sell-in approach in order to reduce high inventory levels”.
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NewsWilko on brink of administration
Embattled retailer Wilko has filed a notice of intention to appoint administrators after failing to find investment.
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NewsScS confident in full-year profit guidance despite cost-of-living crisis
Furniture specialist ScS expects to report full-year profit guidance in line with expectations, despite the ongoing effects of the cost-of-living crisis.
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NewsPets at Home customer numbers grow as revenues spike
Pets at Home has reported an increase in “active VIP” customers and a jump in both total and group like-for-like sales.
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NewsNext increases full-year profit guidance as sales jump
Next has increased its full-year guidance for group profit before tax by £10m, following a “much better than expected” period of full-price sales.
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NewsCo-op invests £70m in member prices
The Co-op has made its biggest ever single investment as it extends its member-only prices across everyday essentials.
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NewsGreggs boss warns higher prices are baked in
Greggs chief executive Roisin Currie has said that while the retailer is seeing inflation coming down, she expects higher prices will remain indefinitely.
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NewsBirkenstock owner eyes potential IPO as valuation expected to soar
Birkenstock’s private equity owner L Catterton has started talks in advance of a potential IPO of the company, which could take place as early as September this year.
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NewsGreggs maintains profit guidance as sales rise
Greggs has reported an increase in sales and profits following “strong trading momentum” in its first half of the financial year and has maintained its full-year guidance.
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NewsShop price inflation falls to lowest levels in a year during July
Shop price inflation hit its lowest levels seen all year in July, despite food prices remaining stubbornly high.
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NewsEtsy sellers accuse marketplace of withholding money
Online marketplace Etsy has been accused of withholding money from sellers through its “reserve system”.
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NewsLush paid managers £5m in bonuses after claiming £5m government support
Lush reportedly paid managers almost as much as it claimed in business rates relief in bonuses, despite recording a drop in profits.
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NewsExclusive: UK consumers to cut back-to-school spend
UK consumers are forecast to cut back on back-to-school spending as the cost-of-living crisis continues to take its toll, according to Deloitte.
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NewsB&M to keep group trading director in multimillion-pound deal
B&M has received a long-term commitment from its group trading director Bobby Arora, which will see the value retailer hand out millions to him in bonuses.
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NewsExclusive: Frasers boss says Amazon can’t do what Frasers can
As Frasers reported strong growth in profits and revenue driven by a “particularly strong year for sports retail”, chief executive Michael Murray said even Amazon cannot do what Frasers can.
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NewsMoncler hails business ‘milestone’ as sales boom
Luxury fashion retailer Moncler Group has called its first-half performance a “significant milestone” as revenues across the business boomed and exceeded €1bn (£857.7m) for the first time.
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NewsFrasers profits soar as elevation strategy pays off
Frasers has reported strong revenue and profit growth across its portfolio in a “particularly significant year for sports retail” driven by the group’s elevation strategy.