All City & finance articles – Page 36
-
NewsModerating food price rises contribute to lower inflation rate
The rate of inflation fell in July, helped by lower food price growth.
-
NewsEG Group offloads bundle of US convenience stores
Forecourt retail specialist EG Group is to sell a bundle of convenience stores in the US.
-
Opinion‘Deflation is coming – retailers must be alive to the risks’
Inflation has been making headlines for more than a year but retailers now need to be alert to the risks of deflation, warns True’s Matt Truman
-
NewsAsda credits focus on value for sales jump
Supermarket chain Asda has reported a 9.6% increase in like-for-like sales, which it credited to its “continued focus on value”.
-
NewsThe Body Shop reviewing ‘every aspect’ of its business as profits hit
Cosmetics giant Natura & Co posted strong profitability driven by gross margins but said The Body Shop is ”fundamentally reassessing every aspect of its business” as profits fell.
-
NewsHarrods sales and profits climb in post-pandemic bounceback
Luxury department store Harrods has reported strong sales and profit growth after its landmark Knightsbridge store returned to normal trading after the pandemic lockdowns.
-
NewsL’Occitane shares jump as owner mulls deal to take group private
Beauty and skincare brand L’Occitane saw a jump in share price on the Hong Kong Stock Exchange as the controlling shareholder is in advanced talks on a potential deal to take the company private.
-
NewsWilko administrator sets deadline for offers
Wilko administrator PwC has set a deadline for interested parties to submit their first offers to buy the variety value retailer following its announcement of administration last week.
-
NewsTesco Express to swap 50 key products with alternatives
Tesco has announced it will overhaul its Express stores by swapping more than 50 key everyday products with lower-priced alternatives.
-
NewsJohn Lewis boss plans buy now, pay later service
John Lewis Partnership’s chief executive is planning to roll out a buy now, pay later service for its customers as they become increasingly affected by the cost-of-living crisis.
-
Opinion‘I’ve been tortured by my inability to see why investors have championed new, disruptive models’
While investors may covet the latest shiny new thing and bash retail as ‘last season’, they are missing the virtues that great omnichannel retail increasingly holds, believes Matt Coode of OC&C Strategy Consultants
-
NewsWilko collapses into administration
Wilko has fallen into administration after failing to secure a rescue deal, but stores will remain open while a buyer is urgently pursued.
-
NewsMarks Electrical hails strong sales ahead of AGM
Marks Electrical hailed strong sales growth in the first four months of the year “driven by excellent customer service” ahead of its AGM today.
-
NewsWatches of Switzerland sales dip
Watches of Switzerland has reported a fall in total sales but said performance remains “in line with our guidance and expectations” in the first quarter ending July 2023.
-
NewsUnder Armour sales slip against ‘challenging consumer environment’
In a trading update for the first quarter ending in June, Under Armour reported total sales of $1.3bn (£1.02bn), down 2% from the same period last year, and 1% in currency-neutral terms. Operating income was $21m (£16.5m) and net income was $9m (£7m).
-
NewsFormer PrettyLittleThing boss acquires stake in Boohoo
PrettyLittleThing co-founder and former chief executive Umar Kamani has made a “significant investment” in online fashion giant Boohoo, which was originally established by his father Mahmud Kamani and Carol Kane.
-
NewsSuperdry secures fresh funding of up to £25m
Fashion retailer Superdry has secured funding of up to £25m in its latest bid to “help accelerate” its turnaround plan and cost-reduction programme.
-
NewsCard Factory upgrades profit expectations
Card Factory has raised earnings expectations after a strong first half.
-
NewsWilko would need £70m investment from a new owner
Wilko, which is teetering on the edge of administration, would need investment of £70m from any new owner.
-
NewsAllSaints posts record results as product focus pays off
Fashion retailer AllSaints has reported its best-ever annual sales and profits.