All City & finance articles – Page 105
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NewsJust Eat sales and earnings leap during lockdown
Food delivery service Just Eat as reported a surge in sales and earnings after the coronavirus outbreak spurred demand.
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NewsAsos profits to beat expectations as returns rate falls
Online fashion giant Asos expects sales and profits this year to come in “significantly ahead of market expectations”.
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NewsAshley’s Frasers Group delays results for second year in row
Tycoon Mike Ashley’s Frasers Group has put back publication of its annual results for the second year running.
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NewsZalando half-year profits rise spurred by new customer surge
Despite a “challenging trading environment”, Zalando has recorded a strong uplift in profits and gross merchandise volume in its first half.
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NewsDomino’s Pizza half-year profits slip despite sales rise
Domino’s Pizza’s profits dropped in the first half, as the takeaway retailer switched to delivery-only amid the coronavirus pandemic.
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Opinion‘V-shaped recovery masks wildly divergent retail performance’
Not a day seems to have passed recently without a CVA or job losses from one retailer or another as a result of the lower footfall, lower spend and acceleration in shift online caused by the pandemic.
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Opinion‘JD-Footasylum case shows how retail mergers have just got tougher’
The Competition and Markets Authority (CMA) last week slapped JD Sports and its largest shareholder with a £300,000 fine for allegedly breaking an order from the watchdog over its acquisition of Footasylum.
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NewsUK headed for autumn job losses as third of businesses expect cuts
One in three UK businesses expect to make job cuts by October, according to a new poll that shows the effects of the coronavirus on the economy are beginning to accelerate.
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NewsSuperdry takes out asset backed loan as sales slump due to coronavirus
Fashion retailer Superdry has opened a new asset backed lending (ABL) facility with its lenders as sales for the first quarter slumped due to the ongoing pandemic.
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NewsUber food delivery overtakes ride sharing during lockdown
Ride-sharing app Uber’s latest set of results show its nascent food delivery business has overtaken its taxi service as people around the world stayed at home during lockdown.
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AnalysisFour ways retail landlords are ditching the rents status quo
Like so much else in the retail sector, the pandemic has accelerated existing trends in the retail property market. Retail Week looks at the actions taken by landlords Hammerson and the Crown Estate, and what they mean for the future of the industry
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NewsHammerson seeks to raise £825m as rental income plummets
Hammerson plans to raise £552m through fundraising and sell off £274m of assets, to counteract “the extraordinary disruption caused by Covid-19 on the retail property sector”.
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NewsJoules swings to a loss as coronavirus hammers sales
Joules plunged to a loss before tax in its full-year results, as chief executive Nick Jones cites ”challenging trading conditions” amid the coronavirus pandemic.
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NewsBullring owner Hammerson raises cash after Covid hit
Retail property giant Hammerson is considering a rights issue and is in talks about an asset sale as it seeks to recover from the impact of the coronavirus pandemic.
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NewsHobbycraft full-year profits jump driven by online sales rise
Hobbycraft recorded an adjusted EBITDA of 21.9% from £12.2m to £14.8m in the full year to February 16.
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NewsPrimark commits to payment for outstanding orders
Primark has announced that it will pay its suppliers in full for any outstanding finished garments and fabric costs incurred since its stores closed in March.
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NewsTesco extends improved payment terms for small suppliers until 2021
Tesco has extended its improved payment terms for smaller suppliers until next year to help businesses through the coronavirus crisis.
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NewsPets at Home reports ‘resilient’ first quarter as sales dip
Pets at Home has posted a fall in its first-quarter sales, which covered the period of lockdown, as boss Peter Pritchard hailed the business’ “inherent resilience”.
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NewsAmazon profits double and sales surge in ‘highly unusual’ quarter
Amazon has doubled its income in its second quarter despite ploughing $4bn into Covid-19-related costs.
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NewsScS ‘encouraged’ by post-lockdown trading results
ScS has recorded a sharp uptick in its order intake since lockdown regulations began to ease, as it feels the benefits of pent-up consumer demand.