All City & finance articles – Page 542
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OpinionA tale of two retailers
Two sets of results issued on Monday illustrated perfectly how the retail sector has polarised. While online meteor Asos celebrated a stellar year, department store tiddler Beales was hunkering down for continued hard times after a challenging first half.
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NewsGame like-for-like sales plummet
Computer entertainment retailer Game has reported a 15.4 per cent fall in group like-for-like sales in the 21 weeks to June 27.
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NewsWinding up of Woolworths made advisers £14m
Woolworths’ administrator Deloitte, restructuring specialist Hilco and other advisers were paid at least £14m to wind up the variety store group.
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NewsMarks & Spencer reports improved sales in first quarter
Marks & Spencer reported an improvement in UK sales in its first quarter, buoyed by its 125th anniversary campaign and the timing of Easter.
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NewsInstore pins hopes on Poundstretcher as losses mount
Instore will target the value market by converting all of its core store portfolio to its Poundstretcher fascia as it seeks to curb losses that more than doubled in the year to February 28.
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NewsCarpetright profits tumble 72 per cent
Carpetright’s group pre-tax profit has slumped 72 per cent to £16.7m in the 52 weeks to May 2, 2009 as the domestic performance pulled down the group.
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NewsBlacks upgraded on back of funding hopes
Broker Singer Capital Markets has upgraded Blacks Leisure on the assumption that the troubled retailer will successfully win additional funding.
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NewsTepid fundraising does job for Debenhams
City analysts have labelled the subdued take-up of Debenhams’ shares as part of its £323m fundraising a “disappointment” but said the department store group is nevertheless stronger as a result.
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NewsShareholder discontent hinders Marks & Spencer
The next few weeks are likely to bring share price turbulence for Marks & Spencer. Shares were trading at 293.75p earlier this week – well above the 52-week low of 191.9p but down from a 363p high.
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OpinionWho is the right face for Marks & Spencer?
Whether Sir Stuart Rose stays on as Marks & Spencer’s executive chairman until 2011 or goes early, what matters is getting the successor right.
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NewsShock Kesa results top poor week for retail sector
Stores underperformed the market despite some impressive recent updates, and Anglo-French electricals group Kesa provided a reminder of how tough conditions remained with shocking results on Wednesday.
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NewsLuxury positioning protects sales and profits at Mulberry
Mulberry’s profits beat market expectations as its luxury positioning provided some cushioning against the economic downturn.
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NewsClinton Cards buys 196 Birthdays stores
Cards retailer Clinton Cards has confirmed the acquisition of 196 Birthdays stores from administrator Zolfo Cooper.
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NewsBack AGM resolution to split Sir Stuart Rose’s role, Pirc urges M&S shareholders
Influential shareholder adviser Pirc has added its voice to growing calls for Marks & Spencer to appoint an independent chairman next year.
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NewsMore boardroom unrest for M&S
Further boardroom tension has surfaced at Marks & Spencer over the timing of Sir Stuart Rose’s departure.
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NewsM&S chiefs waive share entitlements
Marks & Spencer executive chairman Sir Stuart Rose and executive director Steve Sharp are to waive share entitlements in the interests of “good shareholder relations”.
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NewsB&M Bargains sets sights on 400 stores as profits soar in downturn
Value retailer B&M Bargains has unveiled a sparkling set of full-year results and vowed to increase its store numbers to 400 across the UK.
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NewsRay Kelvin upbeat as Ted Baker sales surprise
Ted Baker chief executive and founder Ray Kelvin remains confident that shoppers are still spending despite being in the middle of a deep recession.
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OpinionDSGi begins to show spark
Electricals rivals Kesa and DSGi both post full-year results next week. There hasn’t been much spark in either lately. But as Best Buy limbers up to take on the European incumbents next year, there are signs that the pair are getting into shape.
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NewsSainsbury’s and Tesco updates cause a stir
Big grocers took the spotlight this week as Sainsbury’s and Tesco issued first-quarter updates. And what the pair had to say has implications for the entire retail sector.