All City & finance articles – Page 86
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NewsThe Hut’s Matt Moulding on why donating £100m from IPO is just ‘good karma’
After launching the UK’s biggest IPO in five years, The Hut Group (THG) founder and chief executive Matt Moulding has made the bold decision to donate £100m of shares to charity.
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NewsDeliveroo hails strong performance in first update as listed business
Deliveroo has hailed a strong quarter with orders and gross transaction value across its platform both up in its first quarter as a listed company.
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NewsNaked Wines exceeds sales guidance as it seizes US opportunities
Pureplay wine specialist Naked Wines has hailed its performance over the last financial year, reporting it has exceeded sales guidance driven in particular by its US market.
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NewsAO hails ‘outstanding progress’ as sales and profits soar
AO.com has reported strong sales and expects profits for the year to be in line with market consensus after capitalising on “ the challenges and opportunities” presented by the pandemic.
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NewsThe Hut Group slips to full-year loss due to multiple ‘non-recurring’ costs
The Hut Group has incurred an operating loss for the last financial year due to a series of “non-recurring, non-cash events”, most notably linked to its IPO during the period.
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AnalysisAnalysis: How Tesco’s Clubcard revival opens up new horizons post-pandemic
Following a year fundamentally shaped by the coronavirus pandemic, Tesco boss Ken Murphy set out his vision for utilising the strength of the retailer’s Clubcard customer base to put clear water between the grocer and its competitors.
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NewsJD Sports beats ‘unprecedented challenges’ to retain profitability
JD Sports has “retained substantially all of its record profitability” despite facing “unprecedented challenges” over the past year.
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NewsAlibaba hit with record £2bn fine for breaching competition rules
Chinese ecommerce giant Alibaba has been hit with an Y18.3bn (£2bn) fine after an investigation ruled that it had abused its market position.
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NewsHomebase strikes Next shop-in-shop deal as buyers circle
Homebase will open garden centres inside six Next stores from today to coincide with retail’s reopening.
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Opinion‘Grocers like the Co-op should not be vilified for holding on to rates relief’
Before making this point, let’s be perfectly clear: I was among those who expected the Co-op to repay its business rates relief this week.
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NewsUniqlo owner Fast Retailing posts surge in profits amid China recovery
The owner of fashion giant Uniqlo has posted a spike in profitability as the retail recovery in China boosted its bottom line.
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NewsAsos to raise £500m to bolster expansion war chest
Asos has launched a bid to raise £500m to spearhead its global expansion drive.
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AnalysisAnalysis: Co-op’s business rates return refusal – prudent or a PR disaster?
Another impressive set of annual results for the Co-op has been overshadowed by its decision to keep business rates relief. Group chief executive Steve Murrells explains the decision and claims it has the full backing of members.
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NewsDunelm profits to beat forecasts despite store closures hit
Homewares specialist Dunelm reported that it underperformed the market in its third quarter as stores were shut during lockdown, but it still expects full-year results to beat expectations.
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NewsAsos lifts earnings forecast after stellar first half
Fashion etailer Asos has upped profit expectations after a strong first half powered by “exceptional execution” as the pandemic continued.
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NewsFrasers Group calls for inquiry into Peacocks deal
The Mike Ashley-led Frasers Group has called on MPs to launch an inquiry into the handling of the sale of fashion chain Peacocks to a group backed by former owner Philip Day.
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NewsJoules poaches new chief financial officer from Moneysupermarket
Fashion retailer Joules has poached its new chief financial officer from price comparison business Moneysupermarket to replace outgoing CFO Marc Dench.
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NewsPaphitis warns it’s ‘goodnight Vienna for physical retail’ without rates reform
Retail tycoon Theo Paphitis has urged chancellor Rishi Sunak to reform business rates or risk the “destruction” of bricks-and-mortar retail.
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AnalysisAnalysis: How Next’s Total Platform is ‘following the money’ online
Bellwether retailer Next unveiled its full-year results today, confirming that online is doing better than ever and providing more information on its latest etail venture.
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NewsBoots UK sales slide as parent Walgreens ups profit guidance
Boots has endured a slump in second-quarter sales as parent company Walgreens blamed the reintroduction of lockdown restrictions for the “set back” in its revenue recovery.