All City & finance articles – Page 34
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NewsQuiz warns on profits as cost of living hits consumers
Fashion retailer Quiz has cautioned that a full-year loss is likely after sales in the year to date fell below the previous year’s levels.
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NewsKingfisher cuts profit forecast as tough trading conditions bite
DIY giant Kingfisher has slashed full-year profit expectations after facing harsh trading conditions, particularly in overseas markets.
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NewsH&M sales edge up in third quarter
Sales at fashion giant H&M edged up in the third quarter but were “flattish” in most local currencies as the cost-of-living crisis and stiff competition made for a tough backdrop.
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AnalysisJohn Lewis Partnership: Transformation is delayed, but has any recovery progress been made?
Interims from the John Lewis Partnership were a mixed bag, following a period when the retailer generated headlines for sometimes controversial reasons, such as potentially bringing in external investors.
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NewsJohn Lewis upgrades profit outlook but delays end of transformation plan
John Lewis has upgraded its full-year financial guidance after narrowing losses and increased sales in the first half, but has delayed implementation of its transformation plan by two years.
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NewsTHG losses deepened by one-off disposal costs
THG operating losses deepened due to a one-off, non-cash charge related to the sale of its loss-making business, but the retailer says the disposal has improved its overall financial guidance.
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NewsBirkenstock to launch IPO in the US
German footwear retailer Birkenstock has reportedly filed for an initial public offering (IPO) on the New York Stock Exchange following months of speculation.
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NewsInditex sales and profits continue to climb
Inditex has reported an increase in profit and sales that the group said is a result of a “very robust operating performance”.
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NewsWickes sales increase as growth strategy pays off
Wickes reported an increase in sales driven by the “strength of our balanced business model and outstanding customer service delivered by our colleagues”.
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NewsPrimark expects growth in sales despite unseasonable weather
Value fashion giant Primark said it expects growth in sales and profit despite the “unusually variable and unseasonable weather” in the fourth quarter ahead of its full-year results.
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NewsRetailers call on Jeremy Hunt to freeze business rates
A group of 44 retail leaders across the industry have written to the chancellor of the exchequer, Jeremy Hunt, to call for a freeze in business rates as part of his autumn statement.
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NewsMotatos exits the UK after one year
Online discount grocer Motatos has closed its UK store with immediate effect after launching in the country just over a year ago.
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NewsAnn Summers posts rise in sales in ‘year of two halves’
Ann Summers has posted a rise in sales during a financial year “of two halves” and confirmed plans to add new stores to its UK portfolio by the end of next year.
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NewsCurrys posts dip in revenue as profit guidance remains ‘unchanged’
Currys has posted a decline in group revenue for the 17 weeks ending August 26, 2023, but has made no changes to its profit guidance for the year.
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NewsJollyes posts record Q1 ‘almost exclusively’ from transaction growth
Jollyes has reported record sales growth in its first quarter results, which it said was “almost exclusively” from growth in volumes, not price inflation.
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NewsHalfords CEO says services division to outgrow retail business by year end
As Halfords reported strong sales driven by strong growth in its services and B2B division, chief executive Graham Stapleton says he expects the motoring specialist will sell more services than retail products for the first time by the end of this year.
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NewsHalfords autocentres drive growth but cycling curbs retail
Halfords’ autocentres have driven growth, but a drizzly summer and low consumer confidence limited its retail sales.
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NewsOh Polly hails ‘exceptional’ performance as sales boom
Fashion etailer Oh Polly has credited its “exceptional” full-year financial performance to strong revenues and profits following its international expansion progress.
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NewsFootasylum sales rise despite fall in profits
Footasylum has posted an increase in sales, which it credited to strong store performance despite a fall in profits for the full financial year.
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NewsNew Look closes in on £100m refinancing deal
Fashion retailer New Look is reportedly in “advanced talks” with Blazehill Capital and Wells Fargo regarding a £100m debt refinancing deal to replace a loan that is set to mature next June.