All City & finance articles – Page 456
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NewsGame losses widen in first half
Game made a loss before non-recurring costs and tax of £48.5m in the six months to July 31, compared with a £18.8m loss in the same period last year.
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NewsHilco boss rakes in £4.5m in 2010
Hilco UK boss Paul McGowan took home a £4.5m bonus last year as the restructuring firm benefitted from snapping up ailing retailers.
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NewsFlying Brands warns it could breach banking covenants
Flying Brands this morning warned that trading had been below management expectations, and that it will breach its banking covenants next month unless it takes further action.
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OpinionDunelm done well
In these times of tough trading and hard-to-come-by bank lending, you don’t often read this sort of thing in a preliminary results statement.
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NewsSuccess stories help sector to outperform
The bad retail news of the last week from retailers ranging from Alexon to Kesa was counterweighted by success stories from store groups including Debenhams and Kingfisher.
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NewsAlexon moves forward with sale process
Troubled womenswear group Alexon has moved forward with its sale process and is considering an offer at a “significant” discount to the current share price.
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NewsSales continue to fall at Argos owner Home Retail
Argos owner Home Retail’s shares fell after a second-quarter update showing a continued like-for-like sales fall at the flagship chain and deterioration in trading at stablemate Homebase.
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NewsDixons’ Nordic business impresses
Electricals group Dixons showed off its Nordic business, Elkjøp, last week, when it hosted an analysts’ visit in Sweden.
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OpinionThe global shopping centre
Tuesday’s thronged opening of Westfield Stratford City showed that the right stores in the right locations will continue to seduce shoppers.
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NewsProfit growth for Morrisons despite savvy shopper effect
Morrisons has observed the rise of the “professional” shopper in the face of the biggest hit to consumer spending power in a generation.
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NewsDiscounting hits Primark’s operating margin
Primark’s operating margin is expected to take a hit over the full year following a higher level of discounting on the UK high street towards the end of the summer.
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NewsGeneral stores win out over the grocers
As hordes of shoppers flocked to the opening of Westfield Stratford City, showing that willingness to spend has not entirely evaporated, general retailers ended the week up overall.
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NewsKingfisher first half profits soar
DIY giant Kingfisher group adjusted pretax profit soared 24% to £439m in the 26 weeks to July 30, with two thirds of profits coming from outside the UK.
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NewsDunelm profits up 9%
Dunelm has reported pre-tax profit up 9% to £83.6m in its full year results despite the challenging consumer backdrop.
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OpinionNewness is the talk of New York
Goldman Sachs’ 18th Annual Global Retailing Conference in New York last week was held against a sombre backdrop of US economic indicators: consumer confidence lowering to near recession levels; disposable incomes and unemployment both stagnating; and a stock market in decline for the fourth consecutive month.
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NewsPrimark operating margins to be hit by high street discounting
Primark’s operating margin is expected to be hit slightly in its full year results after a higher level of discounting than is normal on the UK high street towards the end of the summer.
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NewsBoden profits surge 13% in 2010
Home shopping giant Boden like-for-likes grew 5% in first half of the year as it reports a profit surge in 2010.
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NewsAlexon calls in KPMG to advise on restructuring options
Alexon Group has appointed KPMG to advise on its restructuring options.
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NewsGrim outlook for Alexon after profit warning
Brokers warned of an increasingly difficult outlook for fashion group Alexon after the retailer issued another profit warning.
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NewsSuperGroup flagship to help brand expand product range
Superdry’s new Regent Street flagship store will allow the SuperGroup-owned brand to expand its product range, including a move into formalwear, according to chief executive Julian Dunkerton.