All City & finance articles – Page 96
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NewsMorrisons rescue deal for McColl’s cost £182m
Morrisons shelled out the equivalent of £182m to rescue the collapsed convenience chain McColl’s, administrators’ documents have revealed.
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NewsBurberry posts profit uplift but cautions on China recovery
Burberry has posted a rise in full-year profit but cautioned that its outlook for future trading is dependent on the rate of the recovery in its key Chinese market.
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NewsWalmart margins hit as inflationary pressures bite across the pond
Walmart has recorded an uptick in revenues but said its bottom line has been hit by inflation in food and fuel.
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NewsLandsec reports ‘return to growth’ at major retail destinations
Property group Landsec has posted an improved performance from its ’major retail destinations’ portfolio.
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NewsMcDonald’s to quit Russia, ending 30-year presence
Fast-food giant McDonald’s is to sell its Russian business following the country’s invasion of neighbouring Ukraine.
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NewsGreggs sales rise with travel back on the menu
Greggs has said that transport locations have recovered most as it continues to see sales rise.
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NewsWalgreens takes £4bn dividend from UK arm as Boots sale deadline looms
Boots’ US owner Walgreens has extracted $5.3bn (£4.3bn) in dividends from its UK arm.
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NewsMade.com strengthens top team as it issues profit warning
Made.com has called out a “more challenging than anticipated” trading environment in the first half of the year.
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NewsSuperdry in-store sales rebound as online falls back
Superdry has reported a surge in store sales following the lifting of Covid restrictions, which also led to a fall in online revenues.
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NewsJD Sports cautious on outlook despite sales rise
JD Sports sounded a cautious note on prospects as it posted a sales rise at the start of its new financial year.
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NewsBeauty Bay seeks new options as IPO plans stall
Beauty Bay has hired bankers to advise on other options after scrapping plans to float.
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NewsMorrisons prevails in race to snap McColl’s out of administration
Morrisons has beaten off competition from Asda owners the Issa brothers to snap up embattled c-store specialist McColl’s out of administration.
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Opinion‘As CD&R rescues McColl’s, it’s time to change the narrative on private equity’
After a wretched few days, today finally brought some much-needed certainty for McColl’s 16,000 employees and the 2,000 members of its two pension schemes.
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NewsMorrisons sweetens last-ditch McColl’s bid following EG Group swoop
Morrisons has upped its initial offer for convenience chain McColl’s in an eleventh-hour attempt to win the chain ahead of rival bidders EG Group.
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NewsMcColl’s collapses into administration as EG Group seeks to trump Morrisons’ approach
McColl’s has plunged into administration amid reports that Asda owners the Issa brothers are looking to trump rival Morrisons’ approach to save the c-store specialist.
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NewsMorrisons strikes eleventh-hour deal to save McColl’s from collapse
Supermarket giant Morrisons has swooped in to save embattled convenience retailer McColl’s with an eleventh-hour rescue deal that will preserve the majority of stores and jobs.
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NewsBank of England warns on recession risk and surge in cost of living
The Bank of England has signalled the possibility of a recession later this year when inflation is likely to reach 10%.
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NewsMcColl’s flags likely administration unless funding predicament resolved
Convenience store group McColl’s said the prospect of administration is “increasingly likely” if it cannot find a solution to its funding difficulties.
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NewsExclusive: McColl’s pauses Morrisons Daily rollout as administration looms
McColl’s has paused the rollout of its Morrisons Daily format in a bid to conserve cash and stave off administration, Retail Week has learned.
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NewsZalando profits and sales slip as supply chain and inflation costs bite
Zalando has reported dropping profits and revenues as rising inflation and the cost-of-living crunch impacted its bottom line.