All City & finance articles – Page 19
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NewsEstée Lauder CEO has announced retirement as sales and profits fall
Global cosmetics giant Estée Lauder Companies has reported a fall in sales and profit in the full year ending June 2024 as chief executive Fabrizio Freda announces his retirement.
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NewsFormer Wilko owners are being urged to plug pension hole
The former owners of Wilko are facing pressure to fix the collapsed retailer’s £70m pension hole after the parent company said it does not expect to help.
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NewsTopps Tiles has completed acquisition of CTD Tiles out of administration
Topps Tiles has today completed the acquisition of the brand and “certain assets” of CTD Tiles out of administration.
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NewsVictorian Plumbing plans to shutter the rival firm it bought only months ago
Victorian Plumbing has told staff at the rival firm it bought just months ago that it’s shuttering the business and putting over 100 jobs at risk, Retail Week can reveal.
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NewsKlarna closes in on lead bank partnership ahead of listing in the US
Buy now, pay later provider Klarna is edging closer to appointing a lead bank ahead of its anticipated IPO in the US.
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NewsInflation has risen for the first time since December but food inflation remains unchanged
The rate of UK inflation saw a rise above its target 2% in July, according to the latest data from the Office for National Statistics (ONS).
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Opinion‘Lord Rose’s intervention shows that Mohsin Issa has become an albatross around Asda’s neck’
In his hugely successful career, everything Mohsin Issa has touched has turned to gold – until, that is, he bought Asda. Now the harder he works and the more involved he becomes in turning the business around, the further it seems to drift into the doldrums, writes Hugh Radojev
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NewsFormer Wilko owner does not expect to help fix pension hole
The former owner of Wilko has said it does not expect to help fix the estimated £70.2m pension hole following the retailer’s collapse last year.
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NewsCarpetright sister business The Floor Room has collapsed into administration
Carpetright’s sister brand, which trades out of John Lewis stores, has collapsed into administration with the loss of 200 jobs.
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NewsAsda chair says he is ‘embarrassed’ by performance as he urges co-owner to step back
Asda chair Lord Stuart Rose has said he is “embarrassed” by the supermarket giant’s market share retreat and called on co-owner Mohsin Issa to take a step back from the day-to-day running of the retailer.
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NewsUnder Armour sales have fallen as it undergoes restructuring
Under Armour has reported a fall in sales in the first quarter of 2024 alongside a restructuring plan for the business.
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NewsMountain Warehouse has returned to profit as it eyes Carpetright stores for expansion
Outdoor specialist Mountain Warehouse is looking to potentially take over former Carpetright stores after it reported a return to profit in the full year ending February 29, 2024. tores as it reported a return to profit in the full year ending February 2024.
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AnalysisAsda’s three new priorities to turnaround tumbling sales and evaporating market share
After a dismal set of financial results for the first half of the year, Asda has three new key priorities for the remainder of the year that it hopes will right the ship
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NewsAsda owner has blamed the ‘challenging retail environment’ as revenues and like-for-likes slump
Asda owner Mohsin Issa has blamed what he called a “challenging retail environment” for falling revenues and a slump in like-for-like sales at the grocer.
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NewsDeliveroo has praised ‘strong growth’ in grocery after striking new retail partnerships
Deliveroo has enjoyed “strong growth” in grocery sales and expanded non-food retail partnerships with major brands in the UK and United Arab Emirates (UAE).
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NewsMarks Electrical profits have plummeted in ‘challenging but rewarding year’
Marks Electrical profits have slumped even while sales increased in what its CEO described as a “challenging but rewarding year” for the retailer.
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Opinion‘Amazon is feeling the heat from Temu – the question is what to do about it’
Amazon’s latest update shows it is at a tipping point, believes Lisa Byfield-Green
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AnalysisNext has posted weather-busting, expectation-beating results – what do the analysts say?
Fashion powerhouse Next knocked the numbers out of the park in its second quarter when full-price sales climbed 3.2% year on year.
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NewsPets at Home has maintained profit guidance as sales remain resilient
Pets at Home has reported a growth in total sales in line with expectations as it maintains its profit guidance for the full year.
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NewsNext has increased profit guidance as sales exceed expectations despite bad weather
Next has increased its full-year profit guidance as sales grew in the second quarter despite bad weather dominating most of the summer.
