All City & finance articles – Page 117
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NewsArcadia furloughs staff as senior team take pay cuts
Arcadia has said it will furlough “a substantial number” of staff, and its board and senior leadership team will take salary reductions as it battles to deal with the fallout from the ongoing coronavirus crisis.
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NewsBoots profits slide as owner Walgreens cautions on coronavirus impact
Boots has suffered a slump in profit during the first half of its financial year, following a fall in sales and increased technology investments.
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OpinionThe Secret Retailer: We are hurtling towards unimaginable social and economic crisis
In the latest in our series of columns from a ‘secret retailer’, one chief executive warns chancellor Rishi Sunak of the stark reality their business faces without access to one of the government’s coronavirus support loans.
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NewsPets at Home profits will beat guidance, but cautions on year to come
Pets at Home will post earnings just ahead of expectations for the financial year just ended but sales in the next year are likely to be hit by the coronavirus pandemic.
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OpinionOpinion: Coronavirus outbreak will drive investment in new directions
The coronavirus outbreak is first and foremost a human tragedy that will have a profound impact on the global economy.
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NewsLaura Ashley administrators make redundancies and furlough staff
The administrators in charge of winding down Laura Ashley announced overnight they had made more than 200 redundancies and placed the retailer’s remaining store staff on furlough.
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NewsJD Sports withholds all rent and service charges for the quarter
JD Sports did not pay any rents or service charges across its store estate for the second quarter of the year and is in discussions with its landlords about the rents due in June.
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NewsArcadia defers pension payments and cancels supplier orders
Topshop parent company Arcadia has launched a series of measures to cut down on costs amid the coronavirus crisis, including deferring payment into its pension scheme.
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NewsConsumer confidence takes a hit as coronavirus fears heighten
Consumer confidence dropped by two points this month as the effects of the coronavirus pandemic began to take hold.
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NewsBrighthouse falls into administration following coronavirus store closures
Rent-to-own retailer Brighthouse has tumbled into administration, putting 2,400 jobs at risk.
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NewsHammerson rental income plummets as struggling retailers fail to pay
Institutional landlord Hammerson said it only received about a third of the rent payments it was due for the second quarter of the year last week, as struggling retailers asked for coronavirus-related deferrals.
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NewsRetailers face ‘ticking time bomb’ on government’s coronavirus loans
Retailers without high credit ratings have warned the government they face “a ticking time bomb” if they are not given access to its coronavirus support loans.
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NewsDixons Carphone, Quiz and Topps Tiles warn of coronavirus-induced sales falls
Dixons Carphone, Quiz and Topps Tiles have all removed their guidance on profits following the government mandate that they shut all their stores to stem the spread of coronavirus.
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NewsCoronavirus: Intu receives less than a third of quarterly rent payments
Intu has removed its full-year financial guidance and warned that it may break banking covenants after receiving just 29% of its quarterly rent payments from tenants.
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NewsCoronavirus: DFS chiefs to take pay cut and New Look pauses production to address impact
Furniture retailer DFS and fashion group new Look have revealed a range of initiatives designed to address the impact of store closures and business disruption because of the coronavirus outbreak.
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NewsHalfords plans for some stores to stay open during coronavirus crisis
Motor accessories specialist Halfords aims to keep some of its retail stores open to play its part in “keeping the UK moving”.
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NewsCoronavirus: Intu to slash service charges for retail occupants
Institutional landlord Intu is set to slash service charges in its shopping centres to help offset costs as a growing number of struggling retailers refuse to pay first quarter rents.
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OpinionOpinion: Putting people before profit will count long after coronavirus crisis
So here we are. Lockdown. It was a move we all anticipated, but Boris Johnson’s words on Monday night still hit home harder than a Tyson Fury uppercut.
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NewsEve Sleep narrows losses but cautions on coronavirus impact
Eve Sleep has narrowed its full-year losses, but warned that it expects “subdued demand” to persist during the coronavirus outbreak.
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NewsTed Baker sells London HQ, warns of coronavirus sales slump
Ted Baker has sold its London headquarters in a £79m deal and increased its loan facility after warning that coronavirus-related store closures have shuttered the majority of its global store estate.