All City & finance articles – Page 541
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NewsCity cools as it doubts retail’s staying power
General retailers underperformed as questions were asked about whether the stores rally had run too far.
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OpinionIs Westminster beckoning for Next’s Simon Wolfson?
In the retail industry, much of the chatter last week centred not on Next’s latest numbers, but chief executive Simon Wolfson’s future plans. For some time, speculation has mounted that he might consider a shift into politics, casting himself as Lord King to David Cameron’s Mrs T.
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Citi analyst predicts worst yet to come for Burberry
Burberry has implemented a £50m efficiency drive designed to bring it out on the other side of the downturn in a stronger position.
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Signet fortunes turn after US Valentine’s sales boost
Leading jeweller Signet said its US operations, which account for the bulk of its sales, put in an “encouraging” first-quarter performance compared with the previous period.
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NewsMulberry to take full control of US business
Mulberry will take full control of its US business after agreeing to end a joint venture with its US partner.Mulberry will take control of its wholesale and retail sales in the US, which it hopes will create a more efficient operation when combined with its online business, over which it ...
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NewsKesa like-for-like sales fall as further restructuring announced
Kesa has reported like-for-like sales across its electricals business were down 6.1 per cent in its full year to April 30, with total sales up 8.3 per cent.Like-for-like sales at its UK Comet chain dropped 7.7 per cent on a like-for-like basis for the year, with total revenues down 5.1 ...
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NewsSainsbury’s confident in future as profits rise
Focus on fundamentals and agility in fast-changing trading conditions helped Sainsbury’s notch up an 11 per cent profits rise and fourth consecutive year of like-for-like growth.
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OpinionWaterstone’s must turn the page
Has HMV’s takeover of Ottakar’s paved the way for Waterstone’s high street domination as opponents of the deal predicted?
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Sun and self-help lift Marks & Spencer trade
Good weather, self-help initiatives and greater market stability may have boosted trading at Marks & Spencer, City brokers believe.
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NewsCo-op’s local format helps it secure record results
Co-operative Group has said its local format has helped it report record results, with operating profit before significant items up 11 per cent to £393m.
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NewsHome Retail Group divides City
Home Retail Group, owner of Argos and Homebase, met full-year profit expectations but brokers were divided on its merits.
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NewsCity encouraged by general retail outlook
Food stocks dipped this week while general retailers continued to outperform, with brokers encouraged by some prudent management outlined in the updates.
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NewsBroker warns investors not to overlook Mothercare
Mothercare has been overlooked by investors, despite its strong growth prospects, according to Investec analyst Katharine Wynne.
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NewsDownturn not as bad as predicted says Next chief executive Simon Wolfson
Next chief executive Simon Wolfson has said the market is bottoming out but said it is premature to call a recovery and that lower VAT was distorting the real consumer picture.
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NewsDSGi secures £311m injection to speed up turnaround plans
DSGi has raised £311m to accelerate its turnaround plans after credit insurance difficulties led to a sharp rise in debt.
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Equity markets ‘open for business’
The equity markets are still open for business if retailers and investors are willing to collaborate, according to industry observers.
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NewsInterest rate held at 0.5 per cent
The interest rate has been held at 0.5 per cent by the Bank of England.This is the second month in a row that the Bank of England has held the interest rate after it consecutively cut the rate to a record low over a six-month period to try and stimulate ...
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MPs call for more scrutiny of pre-packs
MPs have called for tighter regulations and more scrutiny of pre-pack administrations.A report by the Business and Enterprise Committee into the actions of the Insolvency Service found that public confidence in insolvencies would be damaged “unless prompt, robust and effective action” is taken to ensure pre-packs are “transparent and free ...
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OpinionKeep going, there’s still stuff to be done
The UK’s largest shopfitter has unveiled what can only be termed as a catastrophic set of results — but Styles & Wood’s 23 per cent fall in sales also means is that retailers are still handing out 77 per cent of the fit-out contracts that they were in the prior year.
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US retail ‘undertaker’ sets up shop in UK
US-based retail restructuring and liquidation giant GA Asset Advisors has arrived in the UK in expectation of continued turmoil in the stores sector.