Latest finance news – Page 88
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NewsBoots sales increase 16% as it wins market share in beauty
Boots posted a 16% year-on-year increase in sales in the three months to February 2023, driven by a “record-breaking” beauty performance.
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NewsUpdated: Next bolsters brand portfolio with swoop on Cath Kidston
Fashion giant Next has added to its stable of brands with the acquisition of Cath Kidston for £8.5m.
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NewsBoots owner mulls float or sale by end of 2023 to focus on US market
Walgreens, the US-based parent company of Boots, could either sell or float the UK retail favourite as the global pharmacy giant faces intense pressure to break up.
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NewsIssa brothers eye £12bn merger of Asda and EG forecourt empire
The billionaire Issa brothers are reportedly racing to complete a merger of the Asda supermarket chain and their UK petrol stations in a bid to slash debt.
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NewsJohn Lewis boss White speaks out on stake sale speculation
John Lewis Partnership chair Dame Sharon White has said she will always act “in the best interest of the partnership”.
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NewsWickes posts profit fall despite achieving ‘record sales’
Wickes has posted a drop in profits for the full financial year despite achieving “record sales”, which it attributes to its “market-leading value proposition”.
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NewsSurprise inflation jump puts further squeeze on UK consumers
The overall inflation index soared to 10.4% in February compared with 10.1% in January, according to the latest ONS Consumer Price Index (CPI) figures.
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NewsSuperdry sells Asia-Pacific IP for $50m in growth push
Superdry has sold its Asia-Pacific intellectual property assets with the hopes of expanding its global reach while generating much-needed cash.
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NewsNike on the front foot with strong sales across international markets
Nike recorded a rise in sales during its third-quarter trading period across the US and international markets supported by its “brand distinction and strong execution”.
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NewsJust Eat to axe nearly 1,900 jobs after post-lockdown sales slump
Takeaway platform Just Eat is set to slash 1,870 jobs in the UK following a slump in sales post-lockdown.
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NewsScrewfix buys spare parts retailer out of administration
Screwfix has bought online spare parts and repair service Connect Distribution Services out of administration.
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NewsSweaty Betty bosses Julia Straus and Mark Smith to step down
Sweaty Betty chief executive Julia Straus and chief operating officer Mark Smith are set to step down this summer following the brand’s takeover, Drapers has reported.
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NewsDeliveroo on ‘path to profitability’ as losses narrow
Deliveroo made a nearly £300m loss last year but remains adamant that it is making “excellent progress on the path to profitability”.
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NewsMango leans into circular fashion with La Más Mona investment and rental trial
Fashion retailer Mango has invested in Spanish clothing and accessories rental platform La Más Mona, through its Mango StartUp Studio business accelerator, as well as launching its own rental platform trial.
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NewsLush complains to FCA about ex-boss over shares transfer
Lush has complained to the Financial Conduct Authority (FCA) about former chief executive Andrew Gerri and his investment firm Silverwood Brands over a transfer of shares.
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NewsJohn Lewis Partnership axes bonus and warns of job cuts as it swings to loss
John Lewis Partnership will not pay a bonus this year and has warned of job cuts within the group.
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NewsDFS warns on profits despite reaching ‘record market share’
Furniture specialist DFS has warned that its full-year profits will be at the lower end of its previous guidance, despite achieving “record market share” and higher average order values.
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News‘No comfort’ for retailers in ‘missed opportunity’ Budget
The Budget has been met with a largely tepid reaction from retailers and industry bodies, after the chancellor failed to address several important issues.
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NewsZara owner Inditex profits soar as ‘strong business model’ delivers
Inditex has posted strong annual profit growth, which it attributed to the strength and execution of its business model.
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NewsVirgin Wines profits wiped as Christmas trading impacted by operational issues
Virgin Wines profits and sales dropped in the first half, as the cost-of-living crisis exacerbated what the chief executive called “certain internal and operational challenges” over Christmas.