All City & finance articles – Page 517
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NewsSpar Q2 like-for-likes climb 4.8%
Convenience store group Spar has reported like-for-like sales up 4.8% in the three months to October 31.
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NewsSpecsavers profit edges up 3%
The UK’s largest opticians Specsavers pre-tax profits rose 3% to £26.5m in the year to February 2008.
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NewsHobbyCraft to be put up for sale
Arts and crafts retailer HobbyCraft is to be sold for £70m after it appointed Grant Thornton to consider its strategic options.
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NewsHMV confident about Christmas as losses narrow
Entertainment retailer HMV made a first half pre-tax loss of £24.9m, compared with £27.5m last year, after a “weak” performance at Waterstone’s.
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OpinionTesco quietly impresses
Tesco’s trading updates often split the City, and Tuesday’s third-quarter announcement was no exception. Some highlighted that UK like-for-like growth was below expectations, while others reiterated the longer-term benefits of being more than just a UK food retailer.
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News
Specsavers to double stores in New Zealand
Optical retailer Specsavers is to double the number of stores it operates in New Zealand from 30 to 60.
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NewsTesco upbeat despite sluggish like-for-likes
Tesco remains confident the economy is in recovery despite slower than expected UK like-for-likes.
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NewsFindel focuses on debt reduction as profits sink
Home shopping and educational supplies specialist Findel suffered a sharp drop in operating profits and made an overall loss due to debt refinancing for the six months to October 3, as the retailer sought to stabilise the business.
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NewsGame sales dive despite share growth claims
Game’s group like-for-likes slumped 15.1% in the 44 weeks to December 5, but the retailer claimed it had continued to take market share.
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NewsChristmas voucher specialist Park Group sees market revival
Christmas savings and voucher specialist Park Group has posted year-on-year interim sales up 6% for the six months to September 30 and revealed orders for Christmas 2010 are “well ahead of last year at this stage”.
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NewsCarpetright set for record UK sales
Floor coverings retailer Carpetright is expected to announce strong interim results on Tuesday following its most recent trading update for the 12 weeks ended October 24, which showed group sales up 10.3%, while like-for-like sales rose 5.6%.
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NewsSoaring B&Q UK and Ireland profit helps propel Kingfisher
Kingfisher’s group retail profit soared 28.3% to £227m in its third quarter, helped by strong performances in the UK and Ireland, and Poland.
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NewsGame shares battered as like-for-likes crash
Disappointing BRC sales figures for November led to general retail shares underperforming the overall market, although the grocers did better. Like-for-likes were up just 1.8% over the month, hit by mild weather affecting clothing sales and falling food price inflation.
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NewsAdili sales fall below expectations
Ethical etailer Adili said sales have been below expectations since its fundraising in August.
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NewsStrong UK retail sales lift Mulberry
Mulberry posted a 16% hike in sales in the first half of the year, boosted by a strong UK retail performance.
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NewsHMV considering bid for Mama Group
HMV could make a bid for its live-music partner Mama Group, which is currently the subject of a takeover bid from its largest investor.
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NewsInditex profits ahead of expectations
Profits at Inditex fell 1% in the nine months to October 31 to €831m after a raft of new openings, largely beating forecasts.
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NewsProfits down at Sports Direct despite strong UK retail sales
Pre-tax profits at Sports Direct have been hit by unfavourable exchange rates, falling 40.8% to £57.8m in the 26 weeks to October 25.
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NewsVAT to return to 17.5% in January
Chancellor Alistair Darling has confirmed in his pre-budget report that VAT will return to 17.5% on January 1, 2010.
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NewsPark Group sales up in ‘encouraging’ market
Christmas hamper and corporate gift voucher specialist Park Group has posted interim figures for the six months to 30 September 2009 up 6% on the same period last year and reported orders for Christmas 2010 “well ahead of last year at this stage”.