All City & finance articles – Page 527
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NewsUK set for another tough year, warns Boden chief executive
Boden chief executive Julian Granville said that he expects the UK market to remain tough next year, as likely future tax increases bite into consumers’ disposable income.
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OpinionA new age of reason
Visits in the past two weeks to the US and Australia have unearthed encouraging signs to counter the fears of a recessionary pandemic that abounded 12 months ago.
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NewsHome Bargains to double stores as it speeds to £1bn sales target
Value retailer Home Bargains plans to smash its £1bn revenue target two years earlier than expected, after reporting record sales and earnings in its full-year accounts.
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NewsIdeal Shopping Direct losses flat in first half
Ideal Shopping Direct, the home shopping group, reported a pre-tax loss for the half-year but said a strategic review had helped stabilise the business and move it closer to profitability.
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NewsCBI: UK economy to emerge from recession in Q3
The UK economy is expected to emerge from recession through modest growth in the third and fourth quarters of this year, but constraints on demand will mean that growth in 2010 is fragile, according the CBI.
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NewsTopps Tiles confirms profit outlook and sees signs of stability
Specialist retailer Topps Tiles expects to report operating profit of between £10.5m and £14m – the range of analysts’ expectations – when it delivers full year results in November.
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NewsGame profits suffer against last year's record performance
Entertainment retailer Game has posted a 67% fall in first half profits but said trading had returned to more “normal” levels after last year’s record-breaking software launches.
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NewsBlacks Leisure warns covenant breach likely
Blacks Leisure has warned that it is likely to breach a banking covenant following difficult trading at its boardwear division and has struck a standstill agreement with its bank.
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NewsShop Direct Group sales up 7.4%
Shop Direct Group reported group sales up 7.4% to £1.7bn for its financial year ending April 30, but is taking a cautious view of consumer debt in the year ahead.
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NewsFindel concentrates on further reducing debt
Home shopping group Findel has reported like-for-like sales down 5% for the first 23 weeks of its financial year as it continues to focus on cash generation to further reduce net debt.
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NewsSpar benefits as recession-hit consumers stay in
Spar’s like-for-likes increased 5.2% in the three months to July as consumers stay in more and indulge in treats.
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NewsLakeland profits tumble in tough market
Lakeland, the kitchen and homewares specialist, famous for its innovative gadgets, suffered a profits fall last year as the shock of Lehman Brothers’ demise holed consumer sentiment.
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NewsKingfisher preview sparks upgrades
Kingfisher was scheduled to issue its interims as Retail Week went to press, but the headline numbers were already known following last week’s administrative slip-up.
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OpinionLehman’s ghost laid to rest?
Tuesday was the anniversary of Lehman’s collapse, which a year ago sent retail sales plunging within hours of its demise.
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NewsNext’s Simon Wolfson: sentiment won’t recover with economy
Next chief executive Simon Wolfson does not expect any fundamental return to improved consumer sentiment despite emerging signs of economic recovery.
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NewsZara goes online as Inditex profits decline
Fashion giant Inditex has suffered a profit drop of 8% to €375m (£330.6m) in the first half of the year as it revealed plans to launch its Zara brand online.
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NewsDebenhams update reveals steady year
Debenhams has delivered a robust full-year trading update and said profits are likely to come in ahead of last year’s.
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NewsFurniture Village profits hit by crunch
For the year to March 29, profit before interest and tax was £2.4m, down from £7.1m a year earlier, when the retailer recorded its best-ever profit. Total sales fell 9.4% from the previous year to £162m, and like-for-likes were down 12.4%.
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NewsLuke Johnson lambasts credit insurer ‘oligopoly’
Entrepreneur Luke Johnson has labelled credit insurers an “oligopoly”, citing their “en masse” withdrawal or reduction of coverage to the retail sector.