All City & finance articles – Page 526
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News
Robert Dyas plunges into red with £10m loss
Hardware chain Robert Dyas has plunged into the red, posting a pre-tax loss of £10.4m for the year to March 28.
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NewsWickes sales boosted by showroom ranges
DIY retailer Wickes’ like for likes rose 0.7% in the 39 weeks to September 26.
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NewsAlexon slumps into loss
Womenswear group Alexon Group has reported a pre-tax loss and said recent trading had been “challenging”.
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NewsAsos posts 47% sales increase
Asos has reported a 47% first-half increase in sales, with profits “marginally ahead” of last year.
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NewsMarks & Spencer second quarter beats expectations
Marks & Spencer delivered a better than expected second quarter performance, as UK like-for-like sales declined by just 0.5%, continuing the improving trend seen over the last three quarters.
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NewsBlacks Leisure to close 89 stores
Blacks Leisure is to shut 89 of its loss-making stores and cut jobs at its head office as part of a restructuring.
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NewsJessops completes debt for equity swap to ensure survival
The UK’s largest camera specialist Jessops has unveiled a survival deal which secures 2,000 jobs but leaves its bank owning almost half of the retailer.
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NewsMoss Bros reports £3m loss
Moss Bros has reported first-half pre-tax losses of £3m compared with a £2.2m loss for the same period last year.
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NewsJacques Vert confident profits will beat expectations
Womenswear retailer Jacques Vert has revealed a 0.8% fall in like-for-like sales for the 22 weeks since the beginning of April, but expects increased pre-tax profits for the full year.
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NewsBlacks considers CVA
Blacks Leisure is planning a company voluntary arrangement in order to secure its future.
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NewsNew Look mulls float
New Look, the fashion chain owned by two private-equity companies Apax and Permira, is reportedly considering a £1.7bn stock-market flotation.
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NewsOriginal Factory Shop commits to 400-store expansion as sales rise
Value retailer Original Factory Shop has recorded a 27.1% rise in pre-tax profits to £9.7m in the year to March 29 as it lays out plans for 400 stores within five years.
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OpinionMind your own shop
There seems to be a general consensus now that while 2009 may have been slightly better than many retailers expected, 2010 might be a little more challenging.
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News
Retail suffers as gloom outweighs IPO hopes
General retail stocks headed south and underperformed the market, despite rising speculation that a raft of IPOs - including a £1.7bn flotation of fast fashion group New Look - looks likely in the new year.
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NewsWeak releases dampen Game profits but outlook is positive
Computer entertainment group Game posted a slump in first-half profits, but the plunge was in line with expectations.
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NewsFindel focuses on costs as sales fall
Home shopping group Findel, which successfully raised £81m over the summer through a share placing and open offer, has posted a 5% fall in group like-for-like sales.
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NewsRetail stock interest expected to continue
Stores rebounded after the recent bout of profit taking and outperformed the market, but food retail stocks remained mired ahead of results from Tesco and Sainsbury’s.
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NewsFrench Connection looks at strategy as losses grow
French Connection has launched a strategic review after interim losses surged to £12.8m from £5.4m.
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NewsYouth unemployment won’t hit JD, says boss
JD Sports Fashion chief executive Barry Bown said he was cautiously optimistic about prospects for the year ahead and shrugged off concerns that rising youth unemployment could slow growth.
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OpinionThe empire strikes back
Tesco publishes its first-half results a week on Tuesday. Sainsbury’s follows with its second-quarter numbers a day later. And this year the pair’s performance – even though not over comparable periods – will be even more of a needle match than usual.