Latest finance news – Page 85
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NewsAdidas sales flatline as Yeezy fallout deepens
Adidas posted flat sales in the first quarter of 2023, as the global sportswear giant admitted the loss of the Yeezy brand is “of course hurting us”.
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NewsBoohoo ‘demanding’ 10% discount from suppliers
Online fashion giant Boohoo has asked suppliers for a 10% discount on both its delivered and undelivered orders in a bid to control costs, according to a report in The Times.
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NewsApple’s dip in sales offset by demand for iPhone
Apple has posted a decline in sales in the second quarter, but demand for iPhones has held up overseas.
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NewsHolland & Barrett acquires fit-tech start-up Avie as it looks to go beyond retail
Holland & Barrett has acquired fit-tech start-up Avie as it looks to “extend its reach beyond retail through the creation of personalised wellness solutions”.
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NewsJoe Browns posts ‘strongest year to date’ as sales and profits boom
Fashion retailer Joe Browns has reported its “strongest year to date” as sales and profits rise despite facing “well documented” economic challenges.
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NewsZalando credits boost in revenue and ‘improved profitability’ to online shopping club
Zalando has credited a rise in revenue and “improved profitability” in its first quarter to increased demand for its online shopping club Lounge by Zalando.
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NewsSuperdry completes £12m equity raise
Superdry has successfully completed an equity raise of £12m as the retailer pursues a turnaround programme.
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NewsNext sales dip but remain in sync with guidance
Next has performed better than its sales guidance for the first quarter but said it was “too early in the year” to alter profit guidance.
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NewsOcado shareholders revolt over chief executive pay
Almost a third of Ocado shareholders voted against the £2m pay packet of chief executive Tim Steiner at its AGM on Tuesday.
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NewsWickes’ sales knocked by poor weather
Wickes has reported a slip in lIke-for-like sales as bad weather affected demand for seasonal lines.
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NewsCard Factory profits leap as shoppers return to stores
Card Factory has reported a surge in full-year profits as customers returned to stores and it had a strong Christmas.
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NewsSuperdry launches £12m fundraising to strengthen balance sheet
Fashion retailer Superdry has formally unveiled an equity raise to bolster its balance sheet as it pursues a turnaround programme.
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NewsApollo enlists former Coty and Holland & Barrett bosses to advice on THG buyout
Private equity firm Apollo Global Management has recruited former Coty boss Camillo Pane and former Holland & Barrett chief executive Tony Buffin to advise on a THG buyout.
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NewsAdidas in legal dispute with investors over Yeezy partnership
Investors have filed a class action lawsuit against sportswear giant Adidas, claiming the company was aware of Kanye West’s problematic behaviour years before their falling out.
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NewsShop price inflation ‘likely to have peaked’ in April
Inflation is “likely to have peaked” during the first week of April, despite continuing to reach record highs in some categories, according to the latest figures from the BRC-Nielsen Shop Price Index.
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NewsCrocs raises outlook as revenues soar
Footwear retailer Crocs has raised its full-year outlook and credited a hike in revenues to the “strength” of its brands including Hey Dude, which it acquired last year.
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NewsAmazon beats expectations with latest results
Amazon did better than expected in its first quarter when sales and income climbed despite flat ecommerce sales.
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NewsHotel Chocolat cools expectations as Easter sales ‘lower than expected’
Hotel Chocolat expects sales to be slightly lower than market expectations and underlying profit before tax to break even in the 2023 financial year.
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NewsSainsbury’s profits decline as it fights to keep prices down
Sainsbury’s has reported a decline in profit as it “battles inflation” for customers, although its sales have edged up.
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NewsCard Factory acquires SA Greetings as it plans expansion into South Africa
Card Factory has acquired the South African greetings cards and gift packaging wholesaler SA Greetings as it looks to expand into overseas markets.