All City & finance articles – Page 89
-
NewsPrimark loses £1.1bn in sales due to lockdowns
Primark estimates that non-essential retail closures across its global store estate cost the business £1.1bn in lost sales in the first half of its financial year, but expects the period after lockdown ends to be “highly cash generative”.
-
NewsIkea full-year sales fall cushioned by strong online growth
Ikea has reported a decline in full-year sales across its UK business, but boss Peter Jelkeby praised the retailer’s accelerated transformation.
-
NewsM&S boss Rowe hits out at ‘unbearable’ business rates burden
Marks & Spencer boss Steve Rowe has warned that the “unbearable yoke” of business rates will spark thousands more job losses unless the tax is overhauled by the government.
-
NewsPoundland parent Pepco’s profits drop as it ramps up European expansion
Poundland’s owner Pepco Group has reported an uplift in full-year sales as it plans to open 400 new stores per year.
-
NewsNext boss calls for business rates reform as Sunak delays government review
Next boss Lord Wolfson has called for business rates on high street stores to be slashed by a third to stem the tide of store closures.
-
NewsConsumer confidence boosted in February as vaccine rollout continues
Consumer confidence jumped in February as the UK looks forward to a post-pandemic future.
-
NewsMoonpig set to double full-year sales after ‘strongest ever’ Valentine’s Day
Moonpig reported the strongest week of trading in its history in the run up to Valentine’s Day.
-
NewsAdidas set to sell off Reebok to bolster growth ambitions
Adidas has confirmed plans to offload Reebok as part of its five-year strategy to focus on strengthening its core brand.
-
NewsRetailer anger follows call with ‘rude’ business secretary Kwarteng
Retailers’ relations with new business secretary Kwasi Kwarteng have got off to a rocky start after a bad-tempered call this week.
-
NewsIssa brothers complete £6.8bn acquisition of majority Asda stake
The Issa brothers and investment vehicle TDR Capital have confirmed the brothers’ acquisition of Asda for £6.8bn.
-
NewsRussia’s pound shop to launch London IPO
Fix Price, Russia’s version of Poundland, has set a course for a London stock market listing.
-
NewsDunelm’s Will Adderley to sell shares as homewares boom continues
Dunelm’s deputy chair and biggest shareholder Will Adderley is set to reduce his stake in the company.
-
NewsDeliveroo targets March 8 for stock market debut
Deliveroo could launch its blockbuster stock market float in as little as three weeks.
-
NewsMade.com considers potential for IPO
Online furniture specialist Made.com is considering options including a flotation that could value it at more than £500m.
-
NewsArcadia property sales raise hopes for retailer’s pensioners
Pensioners at Sir Philip Green’s collapsed Arcadia fashion empire may receive more from their savings than originally feared, following property disposals.
-
NewsBurberry becomes first non-essential retailer to return business rates relief
Luxury fashion giant Burberry is to voluntarily hand back savings made through business rates relief during the Covid-19 pandemic.
-
NewsAsda buyers’ junk bond sale raises £2.75bn for deal
Asda buyers the Issa brothers and their private equity partners have raised a record sterling junk bond to fund the acquisition.
-
NewsTed Baker warns of £5m Brexit bill as festive sales slide
Ted Baker has warned it faces £5m of additional costs associated with Britain’s exit from the EU as it grapples to revive its fortunes.
-
NewsRetailers lose £22bn in sales during coronavirus lockdowns
Retailers lost £22bn in sales last year after nationwide lockdowns decimated the performance of physical stores.
-
NewsDunelm hails strong interim results as profits and sales jump
Home and DIY giant Dunelm has said it has “never been more confident about the future” after interim profits and sales both soared.