All City & finance articles – Page 122
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NewsFormer Poundland owner teams up to bid for Pepco
The former owner of Poundland has joined with two private equity firms in a bid to take over the discount retail chain’s parent company.
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AnalysisAnalysis: Is the CMA killing retail?
Asda-Sainsbury’s, JD Sports-Footasylum and potentially Amazon-Deliveroo – the CMA has been taking a tough stance on retail M&A over the past two years. But is the watchdog’s clampdown on mergers actually hurting the industry?
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NewsFrasers Group acquires stake in luxury handbag retailer Mulberry
The Mike Ashley-owned Frasers Group has acquired a stake in global handbag retailer Mulberry as part of what it calls the strategic “elevation of our retail proposition”.
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NewsPop-up retail property specialist Boxpark posts profits rise
Boxpark, the pop-up retail property specialist, has reported a rise in profitability and is eyeing expansion outside London.
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NewsComet liquidator sues French retailer Fnac Darty
Comet’s liquidator, FRP Advisory, is suing French retailer Fnac Darty for £115m over aspects of the electricals retailer’s collapse.
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DataAmazon UK sales jump 23% to £13.4bn in 2019
Amazon in the UK outperformed the rest of the retail market and even its own international business to record a 20.7% jump in revenue to $17.53bn in the year to December 31, 2019. Converted into local currency, this means that UK sales soared by 23.2% to £13.4bn.
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OpinionOpinion: Want to beat Amazon? Target its weak spots
While shopping in my local Co-op before Christmas, I overheard two older customers discussing their seasonal buying. “I did all of my Christmas shopping on Amazon this year,” one said. “It’s so easy. But I do feel guilty about it.”
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AnalysisAnalysis: No Brexit bongs, but alarm bells could still ring for retail
As the UK leaves the EU tonight, Retail Week looks at what the next 11 months and beyond hold for the retail sector.
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NewsH&M profits rise as new chief executive appointed
Fashion giant H&M has reported a rise in full-year profits and veteran chair Stefan Persson is to stand down after two decades in the role.
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NewsComet administrators face record £1m fine
The administrators of collapsed electricals retailer Comet are expected to be fined a record £1m over aspects of their involvement.
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NewsMike Ashley’s Frasers Group cleared over Belgian tax question
Frasers Group, the renamed Sports Direct business controlled by Mike Ashley, has correctly paid tax in Belgium that had been questioned by the authorities there.
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NewsManoMano targets ‘ambitious growth’ following fundraising round
Home and DIY retailer ManoMano has completed another round of fundraising in a bid to become the “European market leader in DIY, home improvement and gardening”.
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NewsScS Christmas sales rise as CEO unveils plans to retire
ScS has posted an uplift in like-for-like sales over the festive trading period as boss David Knight says he will retire next year after 32 years with the business.
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NewsEx-WHSmith boss Clarke takes new senior role at vet chain
The former chief executive of WHSmith has re-emerged in a senior leadership role with an international chain of vets, less than three months after leaving the retailer for a sabbatical.
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NewsJohn Lewis axes weekly sales figures as revenue slips
The John Lewis Partnership has reported a decline in sales in its final weekly sales figure as the department store retailer axes the weekly updates.
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NewsSainsbury’s commits £1bn to meet net zero pledge
Sainsbury’s has committed to spending £1bn to meet its pledge to become a net zero business across its own operations by 2040.
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NewsAmazon and Deliveroo lash out at ‘speculative’ CMA investigation
An investigation into the proposed tie-up between Amazon and food delivery app Deliveroo is “speculative and not supported by evidence”, the businesses have warned the CMA.
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NewsAlmost 10,000 retail jobs lost already this year
Nearly 10,000 retail jobs were lost in the first three weeks of 2020, according to industry analysts.
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NewsReiss’ festive sales spike as owner Warburg seeks buyer
Reiss has posted a jump in Christmas sales as its private equity owner Warburg Pincus seeks a buyer for the chain.
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NewsLong-serving McColl’s director set to step down
The chief operating officer of grocer McColl’s is set to retire, having worked for the convenience store group for over two decades.