All City & finance articles – Page 554
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News
Inditex posts sales and profit rise
Fast fashion giant Inditex, owner of the Zara chain, has posted a 5 per cent increase in EBITDA to €1.54 billion ( 1.34 billion) for the first nine months of the year.
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News
HMV warns of weakening book market
HMV has reported flat first-half like-for-like sales and warned of a “marked deterioration” in the book market over the past five weeks.
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News
Banks defer JJB Sports bridging loan repayment
Banks have given beleaguered sports retailer JJB Sports some breathing space by deferring its repayment of a 20 million bridging loan from Kaupthing, which had been due to be repaid next week.
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News
Primark flagship store breaks sales records
Primark's flagship store on London's Oxford Street notched the biggest single-day sales in its history last Saturday.
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News
Ideal Shopping Direct axes jobs as sales plunge
Multichannel retailer Ideal Shopping Direct is to slash jobs by 15 per cent and will make a loss this year.
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News
Sir Geoff Mulcahy plots Woolworths comeback
Former Kingfisher boss Sir Geoff Mulcahy is in talks to take over 500 Woolworths stores and revive the brand.
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News
John Lewis online sales set to break daily record
John Lewis expects today (December 8) to be its biggest to date for online sales after notching up a record week at Johnlewis.com.
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News
Carphone Warehouse co-founder resigns after shares controversy
Carphone Warehouse co-founder David Ross has resigned after it was found he was using his shares in the retailer as security for personal loans.
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News
90% of Christmas shoppers to go online
This year 90 per cent of shoppers will turn to the internet to research and buy their Christmas gifts.
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News
John Lewis lifted by early VAT cut
John Lewis has reported strong trading on last Friday and Saturday, when it reduced prices early to reflect this Monday's VAT reduction.
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News
Virgin Group caught up in Woolworths' collapse
Sir Richard Branson's Virgin Group is reported to be embroiled in the collapse of Woolworths through the music chain it sold to the management more than a year ago.
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News
Treasury's Paul Myners: No action on retail's credit insurance woes
Financial Services Secretary Lord Myners has rejected a call for action on retailers’ credit insurance difficulties but will monitor developments.
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News
Gap sales continue to fall
Sales at US fashion giant Gap have continued to fall, with total sales in the four weeks to November 29 down 10 per cent to US$1.39 billion ( 949.7 million).
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Opinion
You can’t beat the discounters on price
Property bubbles have burst, credit availability is curbed and unemployment is rising. As a result, customers are cautious.
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Opinion
Recession weeds out the weak
The fittest retailers survive downturns; only those that are already struggling face extinction.
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News
Rising wage bill slashes Belgian grocer’s profits
Belgian discount supermarket Colruyt has reported that its first-half profits came in below expectations as energy and staff costs hit margins.
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News
Thanksgiving spend gets 7.2 per cent lift
Deep discounting by US retailers lured shoppers into stores for the start of the country’s crucial Thanksgiving Sales last weekend.
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Opinion
Questions over Woolies remain
Woolies’ descent into administration poses the classic chicken and egg question.
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News
Kingfisher update welcomed despite a nosedive in profits
The City welcomed a better-than-expected third-quarter performance from DIY group Kingfisher despite a fall in retail profit and continuing problems in China.
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News
DSGi vows to beat the crunch as it posts loss
DSGi chief executive John Browett has been examining the impact of recessions as far back as 1929 to learn lessons about surviving the toughest of times.