All City & finance articles – Page 57
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NewsBank of England warns UK will fall into recession this year as interest rates soar
The Bank of England (BoE) has said the UK economy will crash into a recession by the end of the year as it raised interest rates to their highest point in 27 years.
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NewsNext upgrades profit forecast as pandemic shopping behaviours unwind
Next has again upgraded its full-year profit forecast after reporting a reversal of customer trends in the first half of the year.
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NewsScS bumps up profit expectations as like-for-like orders grow
Furniture giant ScS has announced that full-year profits will be ahead of expectation as like-for-like orders grew during the period.
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NewsJust Eat narrows losses but order numbers fall as lockdown boom unwinds
Online food delivery marketplace Just Eat has narrowed losses despite a sharp drop in order numbers as the world exited the pandemic.
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NewsBeaverbrooks profits and sales surge despite Covid closures
Beaverbrooks has posted surging profits and sales despite the impact of store closures during the coronavirus crisis.
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NewsGreggs names ex-Tesco UK boss Davies chair as profits inch up
Greggs has appointed former Tesco UK boss Matt Davies as its new chair, as it recorded an uptick in profit and sales.
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NewsJD Sports sells Footasylum to investment group
JD Sports has offloaded its Footasylum business to German investment group Aurelius.
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NewsAmazon posts loss as ecommerce comes under pressure
Amazon has reported a second consecutive quarterly loss, but sales beat expectations despite its online retail business declining.
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NewsHotel Chocolat’s Japan venture reaches melting point
Hotel Chocolat’s Japanese joint venture has entered into “civil rehabilitation”.
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NewsMusic Magpie is ‘recession-resistant’, says boss Steve Oliver
Music Magpie founder and chief executive Steve Oliver believes the business is well suited to weather the current economic storm.
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NewsWickes downgrades profit expectations as cost-of-living crisis bites
Wickes has blamed a softer outlook in some of its key markets and the uncertain macroeconomic outlook after it downgraded its profit expectations for the year
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NewsJD Sports confident of delivering record profit and sales
JD Sports has said it expects to deliver a second straight year of record profits and revenues despite the ongoing cost-of-living crisis ahead of its AGM later today
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NewsM&S buys logistics provider Gist for £145m to accelerate transformation
Marks & Spencer has purchased logistics provider Gist as it bids to take control of its end-to-end food supply chain
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NewsDunelm names Whitbread boss Brittain new chair as sales rise
Dunelm has named Whitbread boss Alison Brittain as its new chair as it posted an increase in full-year sales.
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NewsOcado losses widen as retail sales slide in ‘challenging’ market
Ocado has suffered widening half-year losses as sales made through its retail business slipped in what it called a “challenging” UK market.
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NewsFrasers posts surge in profits and increases earnings guidance
Frasers Group has recorded a spike in full-year profits and upped its earnings guidance for its current financial year.
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NewsAO pulls plug on Tesco shop-in-shop partnership
AO has ended its in-store tie-up with Tesco, closing its shop-in-shops after almost two years.
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NewsJoules upgrades profit forecast and extends borrowing facility
Joules has said its profits will be slightly ahead of expectations for the year and has secured an extension of its credit facility.
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NewsMade.com and Hotel Chocolat issue profit warnings
Made.com and Hotel Chocolat have both issued warnings over their profits, with the furniture retailer citing supply chain costs and low consumer confidence while the confectionary business plans a transitional year to focus on its most profitable markets.
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NewsNext underpaid staff for months after IT problems
Next has apologised to staff after the botched integration of new IT systems caused swathes of its workforce to be underpaid for months.