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Today's news in brief-26/9/24

Summary by Retail Sector
Morrisons has finalised a £370m deal with Song Capital, retaining ownership of 75 supermarket properties’ freehold while receiving income over 45 years. This move aims to reduce debt accumulated since its 2021 acquisition by CD&R. H&M expects to miss its 10% profit margin target for 2024 due to stagnant Q3 net sales at SEK59bn. Despite challenges, it plans store expansions in Brazil and digital ventures in China’s e-commerce markets. Pepco Group…

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Retail SectorRetail Sector

Today's news in brief-26/9/24

Morrisons has finalised a £370m deal with Song Capital, retaining ownership of 75 supermarket properties’ freehold while receiving income over 45 years. This move aims to reduce debt accumulated since its 2021 acquisition by CD&R. H&M expects to miss its 10% profit margin target for 2024 due to stagnant Q3 net sales at SEK59bn. Despite challenges, it plans store expansions in Brazil and digital ventures in China’s e-commerce markets. Pepco Group…

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Catering TodayCatering Today

Today’s news in brief - 26/09/24

Prezzo has appointed the former Brewdog CEO to lead the recovery plan, while the restaurant chain’s former chief executive, Dean Challenger, will rejoin as chief financial officer. It comes as Prezzo, which is now owned by Cain International, is undergoing a restructuring plan, having closed roughly a third of its sites last year.  Mitchells and Butlers saw LFL sales rise 5.3% for the year to 21 September, with total sales rising by 5.9% in the…

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