Latest finance news – Page 87
-
NewsDr Martens issues profit warning as LA distribution centre increases costs
Dr Martens has issued a profit warning for 2023 as ongoing issues with its LA distribution centre meant costs were “higher than initial estimates”.
-
NewsAO raises profit guidance again as it recovers from struggling market
AO has issued a trading update that shows increased profit guidance ahead of the release of its full-year results in July.
-
NewsLVMH enjoys sales boom in ‘excellent start’ to the year
Luxury goods conglomerate LVMH has posted an “excellent start” to its financial year as sales boom in its first quarter despite trading in a “geopolitical and economic environment which remains uncertain”.
-
NewsHolland & Barrett weighs up last-minute Planet Organic bid
Holland & Barrett, which is owned by Russian-linked investment group LetterOne, may be in talks to acquire struggling grocery chain Planet Organic and other assets, Sky News has reported.
-
NewsTesco expects flat profits amid soaring inflation pressures
Tesco has posted a fall in profit for the full financial year and forecasts flat profits in FY 23/24 as a result of “unprecedented levels of inflation”.
-
NewsKidly turns to the crowd to raise cash for own-label range
Kidly has launched a crowdfunding campaign to invest in its own-brand range.
-
NewsSosandar achieves profit for first time as partnerships drive sales growth
Sosandar has achieved its first-ever year of profitability, crediting its “robust trading performance” to the success of its third-party partnerships with John Lewis, Marks & Spencer, Next and Sainsbury’s.
-
NewsMarks Electrical hails strong business model as revenues soar
Pureplay retailer Marks Electrical has reported record revenue growth in its latest financial year, which it attributed to a strong business model that enhanced margin.
-
NewsAmazon to close online shop Book Depository in latest bid to cut costs
Amazon is set to close its UK-based online store Book Depository at the end of April.
-
NewsTopps Tiles hails omnichannel model after delivering record sales
Topps Tiles has said it is now the UK’s “clear market leader” in its category after delivering a record period in the first half of its financial year.
-
NewsCo-op sales inch up but inflation dampens profitability
The Co-op has reported a small increase in its full-year revenue, but warned that ongoing inflation and volatility will dampen profitability in the immediate term.
-
NewsThe Original Factory Shop owner on the hunt for new buyers
The owner of The Original Factory Shop has kicked off a sale process after more than 15 years as the discount retailer’s owner.
-
NewsNatura to focus on The Body Shop as it sells Aesop
Cosmetics giant Natura &Co is to focus on building The Body Shop after selling luxury brand Aesop.
-
NewsJohn Lewis new CEO tells staff they must change business model ‘at pace’
New John Lewis Partnership chief executive Nish Kankiwala has told staff that the business model will have to be reformed “at pace”.
-
NewsMorrisons sales return to growth as it opens 500th c-store
Morrisons has reported a return to sales growth in the first quarter as it marked the opening of its 500th convenience store.
-
NewsH&M group sales grow as it hails strong margins
H&M Group reported a strong performance in the first quarter of 2022, with operating profits of SEK 725m (£56.5m) and operating margins of 1.3%.
-
NewsMoonpig praises ‘resilient performance’ as profits remain flat
Greeting card and gifting retailer Moonpig has reported a “resilient performance” for the second half of the year to date, as profits remained flat.
-
NewsAsda profits plummet as inflation costs and investing in prices hit bottom line
Supermarket giant Asda has reported plummeting profits as spiralling costs and investing in keeping prices lower for customers hammered its bottom line.
-
NewsLululemon upbeat for 2023 as sales soar
Lululemon recorded net sales growth of 32% and 33% on constant dollar terms in the full year and fourth quarter of 2022, respectively.
-
NewsNext delivers growth but budgets for profit drop next year
Next has delivered healthy growth in sales and pre-tax profits, but warned strong comparables in the first half would result in a decline in both metrics next year.