All City & finance articles – Page 88
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NewsEuropean DIY etailer ManoMano doubles business as UK demand grows
European home and DIY platform ManoMano has reported soaring sales in 2020 driven by an uptick in UK demand.
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NewsWatches of Switzerland festive sales rise despite ‘significant headwinds’
Watches of Switzerland has reported a boost in sales across the UK and the US over the Christmas period in what boss Brian Duffy says was “another strong performance”.
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NewsJD Sports raises £464m to bolster acquisition drive
JD Sports has completed a fundraise for £464m, which it will use to drive its expansion and capitalise on acquisition opportunities in new and existing markets.
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NewsSainsbury’s short-selling rises despite GameStop phenomenon
There has been an uptick in shorting of grocer Sainsbury’s and shopping centre operator Hammerson’s shares in the past week, despite the targeting of hedge funds in the US by private investors organising on Reddit.
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NewsEG Group to buy Asda’s petrol forecourt business in £750m deal
EG Group will buy Asda’s petrol forecourt business in a £750m deal following the completion of the supermarket giant’s sale to the Issa brothers.
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NewsAlibaba sales surge amid China’s ‘rapid’ Covid-19 recovery
Alibaba has posted a spike in sales during the final quarter of 2020 following the “rapid recovery” of the Chinese economy in the wake of Covid-19.
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NewsAmazon boss Jeff Bezos steps down as quarterly sales pass $125bn
Amazon founder Jeff Bezos will resign as chief executive later this year and step into the role of executive chair.
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NewsMoonpig valued at £1.2bn as float begins
Moonpig has begun trading on the London Stock Exchange with a market capitalisation of £1.2bn.
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AnalysisJD Sports boss Cowgill: How ‘monumental’ DTLR deal turbocharges US ambitions
JD Sports boss Peter Cowgill tells Retail Week why the retailer’s latest $495m acquisition has set it up to crack America.
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NewsJD Sports bolsters US business with $495m acquisition
JD Sports is to buy US athletic footwear and apparel retailer DTLR for $495m as it extends its US operations.
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OpinionThe Secret Retailer: ‘The government is fiddling while Rome burns’
As retail is left to wonder how the route out of the coronavirus crisis will look, it feels like there is some government fiddling while Rome is burning going on.
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AnalysisH&M boss Helena Helmersson: Our post-pandemic recovery plan
Fashion giant H&M has been battered by coronavirus, with swathes of its global store estate shut and profits plummeting. Chief executive Helena Helmersson reveals how the group plans to rebound in 2021.
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NewsH&M profits tumble as Covid-19 batters sales
H&M has suffered a slump in full-year profits and sales as the coronavirus crisis battered its top line.
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NewsBoohoo closes in on £25m deal for trio of Arcadia brands
Boohoo is closing in on a deal for three of Arcadia’s high street brands as the fashion etailer presses ahead with its ambitious acquisition spree.
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NewsScrewfix sales hit £2bn as store estate grows
Screwfix has doubled its sales to £2bn over the last five years, while continuing to open new stores despite the pandemic.
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NewsLidl store investment leads to £13.6m loss
Lidl reported sales of more than £6.9bn in the UK last year, but pre-Covid investment in new stores, logistics and supply chain drove it into the red.
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NewsJoules interim sales and profits slip as chief financial officer departs
Fashion retailer Joules has blamed store closures due to coronavirus for falling sales and profits on the day it announced its chief financial officer would be stepping down.
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NewsLuxury conglomerate LVMH records year of two halves
LVMH reported an overall decline in revenues for 2020 but the final quarter showed signs of promise for the coming year.
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NewsScS sales rise as post-lockdown orders soar
ScS has recorded an uptick in sales after orders following the first lockdown in 2020 significantly increased.
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Retail VoiceStay light on your feet – there will be more challenges for retailers in 2021
As we begin to slowly find a way out of the current health crisis, the threat of a financial crisis will soon become front of mind for many consumers and retailers, writes Richard Brassey, director at Barclays Partner Finance