All City & finance articles – Page 557
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Focus value range brings home £1m in first month
DIY retailer Focus has generated sales of more than 1 million from its new value range Payless since launching it four weeks ago.
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Richer Sounds profits suffer as margins slip
Specialist electricals retailer Richer Sounds posted a 38.8 per cent fall in pre-tax profits to 3.7 million for the year to April 26.
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Retailers to go VAT-free in twist on discounting frenzy
Retailers are staging VAT-free promotions to kick-start trade in the key Christmas period.
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Second MFI administration is latest blow for home sector
Big-ticket home retailers believe MFI’s collapse into administration could deal another huge blow to the beleaguered sector in the run-up to the crucial January Sales period by further denting already fragile cons-umer confidence.
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VAT nightmare as retailers struggle with cut
Retailers have reacted angrily to the VAT cut announced by Chancellor Alistair Darling on Monday, saying it will make little difference to sales and cause huge disruption at the most important time of year.
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Findel profits up
Home shopping group Findel has reported a total pre-tax profit of 5.7 million in the six months to September 30, up from 2.5 million the year before.
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DSGi moves into loss as recession looms
Electricals giant DSGi, owner of chains including Currys and PC World, is preparing to tough out a recession after making a first-half loss.
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Woolworths and MFI enter administration: A sad day for retail
Comment: Two of the most venerable names in retail collapsed today, in what is the saddest day for retail that anyone in this office could remember.
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Fashion retailers join forces to implement VAT cut
Marks & Spencer, Arcadia, Bhs, Next, New Look and Mosaic Fashions have jointly confirmed they will implement the 2.5 per cent cut in VAT on Monday, or as soon as possible afterwards.
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Woolworths enters administration
Updated: Woolworths' retail division and its entertainment supply business EUK are being put into administration.
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Government intervenes in Woolworths crisis
Exclusive: Business Secretary Lord Mandelson's department has intervened to attempt to save variety store group Woolworths.
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Trading 'volatile' at French Connection
Sales at fashion group French Connection’s core UK retail business have softened after a strong start to the second half.
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MFI files for administration
Updated: Staff at troubled kitchen retailer MFI were called to a meeting this morning where they were told the company has applied to go into administration. A notification of intention to file for administration was filed with the High Court last night and the company is expected to go ...
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NewsMK One bought by Internacionale
Value fashion retailer MK One has been bought out of administration by Glasgow-based fashion chain Internacionale.
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Clinton Cards sales tumble
Like-for-like sales at card retail group Clinton Cards fell by 6 per cent for the 16 weeks to November 16.
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Pre-Budget report: Retail opinion divided on VAT change
Some retailers have welcomed attempts by Chancellor Alistair Darling to kick-start the economy in yesterday’s pre-Budget report, but others have expressed anger that changes do not go far enough.
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Topps Tiles profits down 27 per cent
Pre-tax profits at Topps Tiles slipped 27 per cent to 27.7 million in the year to September 27.
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Chancellor confirms 2.5% VAT cut
Updated: Chancellor Alistair Darling has confirmed he will slash the rate of VAT and has called on retailers to pass on the cut.
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JJB confirms bid for Fitness Clubs division
JJB has confirmed that it has received an approach for its Fitness Clubs business.
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Supermarkets up ad spend
Supermarkets have upped their ad spend while most other major retailers have slashed theirs in response to the economic crisis.