Latest finance news – Page 78
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NewsTHG snaps up business newspaper City AM
THG, which owns brands such as Lookfantastic and MyProtein, has snapped up London-based business newspaper City AM in an 11th-hour deal to save the newspaper from the brink of insolvency.
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NewsLVMH revenue rises as brands continue to thrive
Luxury goods conglomerate LVMH posted an “excellent first half” as it saw strong revenue growth across its fashion and beauty divisions.
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NewsPoundland price cuts ‘just the start’ as inflation slows
Poundland announced its recent price cuts are “just the start” of what could be more cost-saving initiatives as the rate of inflation slows.
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NewsExclusive: Frasers to become UK's top fashion retailer by 2026
Frasers is set to acquire its way to the top and become the biggest fashion retailer in the UK within the next five years, according to exclusive research by Retail Week and Bloomreach.
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NewsPoundland slashes prices and brings back £1 items as inflation moderates
Poundland is slashing the prices of big-selling products with many items returning to a £1 price point.
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NewsWickes rolls out share buyback programme
Wickes has launched a £25m share buyback programme to return “surplus cash” to shareholders after improved second-quarter trading.
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NewsAdidas banks £439m as demand for Yeezys soars
Global sportswear giant Adidas received orders worth more than €508m (£439m) for 4 million pairs of Yeezy shoes as it decided to sell the remaining stock of the highly popular line to prevent further losses.
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NewsMatalan remains confident on outlook despite fall in revenue
Matalan has posted a drop in revenue following a “challenging” first quarter, despite remaining “confident” in its full-year profit outlook.
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NewsRevolution Beauty faces FCA market abuse probe
Cosmetics specialist Revolution Beauty is being investigated by the Financial Conduct Authority (FCA) for potential market abuse.
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NewsTHG offloads OnDemand division to management to focus on core operations
Online group THG has sold its OnDemand business – which includes entertainment specialist Zavvi – to the division’s management.
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NewsKim Kardashian’s Skims brand valued at $4bn
Kim Kardashian’s shapewear brand Skims has been valued at $4bn (£3.09bn) following its latest round of fundraising.
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NewsDunelm ups profit guidance as shoppers seek affordable home improvements
Dunelm has upped its profit guidance as sales climb and shoppers search out affordable treats and improvements for their homes.
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NewsUK inflation drops as prices rise at a slower pace
UK inflation fell across all areas in June to a lower level than predicted as prices rose at a slower pace.
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NewsPret returns to profit driven by subscription service
Pret a Manger has reported its first profit increase since 2018 as strong demand for its subscription service helped the group bounce back.
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NewsHotter Shoes bought by Woolovers in pre-pack deal
Knitwear retailer Woolovers Group has acquired Hotter Shoes in a deal that will see all 421 employees and 27 stores and concessions “transferred across to the purchaser”.
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NewsIceland invests £26m in slashing prices on 500 items
Frozen food specialist Iceland has invested £26m in slashing prices on 500 “weekly shop items” and in putting a third of its entire range into its “mix and match” multibuy offering.
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NewsCredit insurer slashes cover for Boohoo suppliers
Boohoo’s credit insurer Allianz Trade has slashed cover for its suppliers, which threatens to enhance financial pressures on the fashion retailer, according to reports.
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NewsHotter owner Unbound Group confirms intent to appoint administrators
Hotter parent company Unbound Group intends to appoint Interpath Advisory as administrators to the group’s main operating subsidiary, Beaconsfield Footwear, which includes Hotter Shoes.
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NewsVirgin Wines profits slow ‘in line with expectations’
Virgin Wines reported a full-year trading performance “in line with expectations” driven by a disciplined approach to customer acquisition, positive trends on conversion and cancellation rates, and a resilient WineBank loyalty scheme.
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NewsDFS reaches ‘strongest ever’ market share despite challenging market
Furniture specialist DFS reported a record market share of 38% driven by “the group’s leading brands, scale and well-invested integrated retail proposition”.