All City & finance articles – Page 64
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NewsAsos looks forward to ‘summer of fun’ despite consumer gloom
Asos chief operating officer and chief financial officer Mat Dunn was optimistic about prospects, despite the challenges facing the business and consumers such as inflation and ongoing supply chain disruption.
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NewsBoots owner set to lose billions on sale of health and beauty giant
US retailer Walgreens faces losing billions after the private equity firms earmarked to take over Boots valued the retailer much lower than Walgreens’ official price tag.
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NewsAsos profits plunge following period of ‘significant volatility and disruption’
Asos has reported a drop in pre-tax profits in its interim results as it continues to grapple with supply chain challenges.
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NewsMorrisons’ new owner offers to sell petrol stations to ease fuel price fears
The private equity owner of Morrisons has offered to sell several of its petrol stations following concerns from the competition watchdog that the takeover could lead to higher fuel prices.
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NewsCo-op profits plunge as supply chain disruption takes toll
The Co-operative Group has reported a steep fall in annual profits after its performance was hit by “food supply chain disruption during system transformation”.
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NewsShein hits $100bn valuation following fundraising
Chinese fast fashion giant Shein has been valued at more than $100bn in its new fundraising round, surpassing the market capitalisation of Inditex and H&M combined.
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Opinion‘After Morrisons’ gloomy update, Tesco will set tone for all of retail next week’
A downbeat trading update from grocer Morrisons raised questions over prospects for other grocers and the retail industry more widely.
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NewsTed Baker puts itself up for sale following fresh bids
Fashion retailer Ted Baker has launched a formal sales process after receiving unsolicited bids from private equity firm Sycamore Partners and an unnamed third party.
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NewsShein mulls fresh fundraising round at $100bn valuation
Chinese fast fashion operator Shein is mulling a fresh fundraising round that could value the business at close to $100bn (£76.2bn) after shelving IPO plans.
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NewsBoots’ sales ‘bounce back’ as beauty and online revenues climb
Boots has recorded a strong uplift in sales across its stores and online operations as boss Seb James says the retailer “continues to bounce back strongly from the pandemic”.
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NewsH&M sales rise despite fresh wave of Covid-19 disruption
H&M has registered rising sales during its first quarter despite “the negative effects of the pandemic” continuing to impact many of its international markets.
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DataData: Shop price inflation soars as cost pressures mount
Shop prices have risen for the fifth consecutive month as retailers grapple with cost inflation.
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NewsAsda sales and profits rise as Covid-19 costs unwind
Asda has posted a jump in profits in its first year under the Issa brothers’ ownership as one-off costs related to the coronavirus crisis abated.
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NewsSainsbury’s investors back call for grocer to pay ‘real living wage’
Sainsbury’s will hold a shareholder vote at its upcoming AGM on pay for all its entry-level staff amid growing support from investors for the grocer to pay the ‘real living wage’ across the UK.
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NewsWickes’ profits surge in ‘year of excellent growth’
Home improvement retailer Wickes has reported rocketing full-year sales and profits and said it is well positioned for further growth.
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DataData: Consumer confidence plummets as cost-of-living crunch bites
Consumer confidence dropped further in March as concerns over the cost of living grew, with 30-year-high levels of inflation and soaring fuel and food prices.
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NewsMorrisons takeover could face deeper CMA probe over fuel price fears
Clayton, Dubilier & Rice’s takeover of grocery giant Morrisons has hit a snag after the Competition and Markets Authority (CMA) raised concerns over the impact the move would have on fuel prices.
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NewsMcColl’s boss Miller exits as rescue talks progress
McColl’s boss Jonathan Miller has stepped down after more than three decades with the business as it scrambles to secure fresh investment.
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NewsNext delivers surge in profits but global ‘uncertainty’ drives down forecasts
Next has posted a surge in profits but downgraded forecasts for its new financial year amid a slowdown in its international business.
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AnalysisAnalysis: Did Rishi Sunak’s statement put a spring in retail’s step?
On the day inflation hit a three-decade high, chancellor Rishi Sunak delivered a spring statement light on action but heavy on promises as the cost of living crisis continues to spiral.