All City & finance articles – Page 510
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NewsKingfisher to beat forecasts despite sales dip
DIY giant Kingfisher reported a like-for-like drop of 3% in constant currency in the 13 weeks to January 30 but the retailer still expects to beat profit forecasts. Group revenue decreased 1.6% to £2.3bn.
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NewsMike Ashley’s intervention hits Blacks shares
General stores and food retailers both had a dull week, with each sector lagging the market.
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NewsAnalysts speculate on Marc Bolland’s plans at M&S
Marc Bolland does not take the helm at M&S until May, but analysts are already speculating about what he may do.
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NewsTraditional toys aid Modelzone growth
Model and hobby retailer Modelzone is benefiting from consumers returning to more traditional toys and games, with like-for-like sales up 7% last year.
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NewsSuits You confident of profit breakthrough after CVA rescue
Speciality Retail Group chairman Peter Lucas has vowed that the struggling menswear retailer will make a profit in the year to January 2011, after it was rescued from administration by a company voluntary arrangement on Tuesday.
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NewsJ Crew hits UK after deal with Net-a-Porter
US fashion brand J Crew will be available in the UK for the first time after striking a partnership with etailer Net-a-Porter.
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NewsAdili to delist as deal is agreed with investor
Investor Luke Heron is to buy ethical etailer Adili and the retailer will be delisted from AIM.
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NewsWickes full year profits soar
DIY retailer Wickes experienced a 2.4% decline in like-for-likes in the seven weeks to February 20, but full year profits soared as the chain grew its market share.
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NewsOcado appoints former Reuters director as non-exec
Ocado has lined up former finance director of Reuters David Grigson as a senior non-executive director.
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NewsBlacks delays fundraising meeting
Updated: Blacks Leisure postponed its general meeting today in order to continue negotiations with Sports Direct which had planned to block proposed fundraising by the outdoor specialist.
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NewsMatalan mulls refinance plan
Matalan is reportedly considering a refinancing following its axed sale.
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NewsSports Direct buys Blacks stake to block rescue plan
UPDATED: Sports Direct succeeded yesterday in acquiring the rights to a disputed 29% stake in Blacks Leisure to vote against its rescue plans.
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NewsPawnbroker Albemarle & Bond’s profits surge
Jewellery-based pawnbroker Albemarle & Bond has posted strong interim results, with pre-tax profits surging 75% to £10.8m in the six months to December 31 2009.
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NewsRetail flotation jitters hit non-food shares
General retailers lagged the All-Share index and their food peers as doubts were cast over stores’ IPO hopes.
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OpinionRetailers will need a watertight story to float
Increasing scepticism means that those retailers that want to get IPOs away will need a watertight story and be floating for the right reasons
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News
Goldman Sachs eyes recovery in retail opportunities
Goldman Sachs has forecast that retail like-for-likes will rise in 2010 after two years of declines in the store groups it follows.
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NewsElectricals etailer Ebuyer plots growth
Vida Capital Partners is confident of a strong 2010 as it ramps up its two retail businesses, etailer Ebuyer and kitchens retailer Wrens.
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NewsSuperGroup confident of IPO success as others falter
Directors of SuperGroup, which aims to raise £125m through an IPO, are confident of the retailer’s longevity despite some potential investor concerns about fashion’s volatility.
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NewsBroker sees potential in undervalued Next
Earnings momentum and share buy-backs have created a buying opportunity in fashion group Next, broker Investec believes.
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NewsAustin Reed steadies after profit dive
Austin Reed has said business has stabilised since reporting group profit fell 37% to £3.2m in the year to January 31, 2009, as men sacrificed suit purchases in the recession.