All City & finance articles – Page 508
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NewsAlexon turnaround on track despite pre-tax loss
Womenswear retailer Alexon said it is on track with its turnaround plans, despite posting a £900,000 pre-tax loss for the year to January 30, against a profit of £10.8m the previous year.
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NewsAsda guns for share with price guarantee
Asda this week fired the latest salvo in the supermarket price war with the launch of a price guarantee as it tries to stem its market share decline.
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NewsWHSmith shines despite ash cloud dampening sentiment
WHSmith’s group pre-tax profit edged up 2% to £62m in its first half but despite beating analyst expectations, upgrades were dampened by the retailer’s airport stores being closed during the volcanic ash crisis.
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NewsAvatar set to bust DVD sales records and become biggest Blu-ray release
The DVD and Blu-ray release of blockbuster film Avatar has set the tills ringing in stores and online and is predicted to become one of the biggest releases of all time.
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NewsCarphone Warehouse riding high on back of demerger
The launch of US electricals giant Best Buy in the UK grabbed the headlines this week, but it was also parent company Carphone Warehouse’s first trading update since its demerger last month.
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NewsSummer Sales brought forward due to Ramadan
Upmarket department stores are set to move their summer Sales forward in a bid to move to full-price autumn merchandise ahead of the lucrative pre-Ramadan shopping period.
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NewsSFO cloud hangs over Sports Direct
The City has continued to cautiously back Sports Direct after a positive pre-close update, despite a pending Serious Fraud Office (SFO) investigation into the business.
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NewsDunelm slowdown ‘in line with expectation’
Value homewares retailer Dunelm’s slowdown in like-for-like growth met analysts’ expectations as it came up against tough comparables and suffered from a weaker sales period after Easter.
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NewsMountain Warehouse to hike up expansion
Outdoor specialist Mountain Warehouse is gearing up for further expansion after reporting post-tax profits of £3.9m in the year to February 28, up 72% on last year.
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OpinionPressure on Morrisons grows
Morrisons’ new chief executive Dalton Philips will have been in the hot seat for only about six weeks when the grocer delivers its first-quarter update next week.
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NewsHobbyCraft sold to Bridgepoint Capital
HobbyCraft has been sold in a management buyout backed by private equity firm Bridgepoint Capital, as predicted by Retail Week last week.
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NewsCarpetright sales below expectations as it warns of tough year ahead
Carpetright like-for-likes in the UK & Ireland rose 1.5% in the 12 weeks to April 24, which was below internal expectations.
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NewsN Brown to enter the US after a record year
N Brown has confirmed plans to enter the US later this year as total sales for the home shopping group grew 4.2% to £690m in the year to February 27.
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NewsRepublic up for sale
Young fashion chain Republic has been put up for sale by its private equity owner Change Capital.
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NewsBill Grimsey to become Focus chair
Focus chief executive Bill Grimsey is to become chairman at the DIY chain with managing director Rob Gladwin taking over as chief executive.
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NewsAll Saints secures extra funding on strong results
Fashion retailer All Saints almost doubled EBITDA to £23.6m last year, helping it secure further investment from Lloyds TSB Corporate Markets to ramp up overseas expansion.
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NewsOcado poised to appoint banks for IPO
Ocado is understood to be poised to appoint JPMorgan Cazenove, UBS and Goldman Sachs to advise on a possible £1bn flotation this summer.
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NewsAsos overseas growth woos investors
The international opportunity for online fashion retailer Asos continued to be a winning growth story for investors as overseas sales soared 101% in the year to March 31.
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NewsTesco ‘back in the lead’
Leahy laughs off Asda’s non-food ambitions as Tesco posts strong year’s sales and record profits
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OpinionBalance is key for Thorntons
Thorntons may not be the biggest retailer, but some of the trading trends it reported on Tuesday will be front of mind for retailers more widely.