All City & finance articles – Page 108
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NewsAO.com full-year profits up by half as sales climb
AO.com recorded a strong increase in its full-year profits and sales, but chief executive John Roberts says the retailer “must cement that change” driven by online shopping habits amid the coronavirus pandemic.
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NewsOcado investments hit half-year profits as sales jump
Ocado’s half-year profits have declined, as chief executive Tim Steiner plans to invest more in innovation “taking advantage of a scale of opportunity that we have never seen before” in online grocery.
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NewsQuiz ‘extremely concerned’ by fresh Leicester sweatshop allegations
Embattled fashion brand Quiz has said it is “extremely concerned” by reporting over the weekend that alleged workers at a factory making its products in Leicester were not paid the National Living Wage.
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NewsNational Crime Agency scrutinises Leicester slavery allegations as Boohoo investor bails
The National Crime Agency (NCA) is looking into reports of modern slavery in the Leicester textile industry, following newspaper allegations involving etailer Boohoo.
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NewsGymshark circled by private equity as it eyes £1bn valuation
A flurry of investment firms is vying to snap up a minority stake in workout clothing brand Gymshark.
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OpinionOpinion: Summer statement cements retail’s place as UK’s invisible industry
There was hope, rather than expectation, that chancellor Rishi Sunak would offer retailers a lifeline this week.
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NewsRetail hits out at lack of help in Sunak’s Covid-19 recovery plan
The retail industry has hit out at the lack of help afforded to the sector in Rishi Sunak’s coronavirus recovery plan.
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OpinionOpinion: Boohoo should cut ties with Leicester following sweatshop revelations
Online fashion star Boohoo has become too big to countenance links with Leicester factories alleged to operate under Dickensian conditions in flagrant breach of the law.
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NewsSosandar cuts losses as quarterly sales rise
Fashion etailer Sosandar has reported a resilient performance in its first quarter, when sales rose and losses fell.
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NewsAll Saints wins creditor backing for CVA
Fashion retailer All Saints’ CVA proposals have won the support of creditors.
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NewsHalfords profits beat forecast despite Covid impact
Bikes and motor accessories specialist Halfords generated full-year profits ahead of guidance but remained cautious about trading conditions.
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NewsJD Sports posts profits rise and calls for ‘rental realism’
JD sports has posted a rise in sales and profits and said it expects to continue to prosper despite the impact of coronavirus and a changing landscape.
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NewsTop investors pledge to engage with Boohoo on modern slavery claims
Two of Boohoo’s biggest investors have promised to engage with the online fashion giant over allegations of modern slavery at Leicester clothing factories.
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NewsPret A Manger to shutter 30 stores putting 1,000 jobs at risk
Pret A Manger is permanently closing 30 of its stores and putting around 1,000 jobs into consultation following the “significant impact” of coronavirus on profits and cash flow.
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NewsTesco seeks supplier discounts as it ratchets up pressure on Aldi
Tesco is demanding deep discounts from suppliers as it seeks to ramp up the pressure on its discount rivals on price.
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NewsTreasury considers £500 vouchers for all adults to help Covid-hit high streets
All adults across the UK could be given £500 to spend under radical government plans being considered to kick-start the economy amid the coronavirus crisis.
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NewsBoohoo faces modern slavery allegations at Leicester warehouse
Boohoo has become embroiled in a modern slavery row amid claims that workers at factories in Leicester are being paid as little as £3.50 per hour.
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NewsMarket Halls blames social distancing for closure and job losses
Market Halls, the company which operates three of the biggest food halls in the UK, has blamed social distancing for its current closure and a wave of redundancies.
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NewsLandsec hails ‘encouraging’ footfall and reinstates dividend despite rents dip
Landsec has hailed “encouraging” levels of footfall in its centres and will reinstate its shareholder dividend from November, despite retail occupants dragging their feet with rents.
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AnalysisThe Big Question: Were Tesco investors right to rebel over pay?
Chief executive Dave Lewis has led an impressive turnaround of Tesco over several years. Last week the grocery giant reported an impressive sales rise, and it has been widely credited for its efforts to ’feed the nation’ during the coronavirus pandemic. But the grocer has suffered one of the biggest ever shareholder revolts over pay after online grocer Ocado was removed from a peer comparison group. Industry experts share their views.