All City & finance articles – Page 560
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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.
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News
Findel: The City view
The home shopping group delivered interim benchmark pre-tax profits of 7 million – down from 8.5 million last time – on sales up 1 per cent to 294.7 million.
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News
Sector’s share price flutter gives City little reason for excitement
The stores sector shrugged off the collapse of Woolworths and continued concern about the trading outlook to outperform the FTSE All Share index.
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News
Reiss to review price points as profits fall
Reiss is considering dropping its entry price points as it seeks to attract more customers after suffering a fall in UK operating profit.
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News
Theo Paphitis pulls out of Woolworths bid
Retail entrepreneur Theo Paphitis has pulled out of bidding for variety store group Woolworths, which was placed in administration last week.
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News
Shoppers put back festive buying as they hold out for further Sales
Shoppers have shifted their Christmas buying habits and saved the majority of their shopping this year for December.
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News
Last-ditch attempts made to save EUK as supply dries up
Desperate attempts were being made as Retail Week went to press to provide a payment guarantee on behalf of EUK, the Woolworths-owned entertainment supplier, enabling it to resume trading.
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News
BRC lambasts proposed rise in minimum wage
Retailers fear above-inflation minimum wage increases being suggested to the Low Pay Commission this week could lead to further job losses in the sector.
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News
Primark ready to topple George’s crown as king of value fashion
Primark is poised to topple Asda’s George from the top value fashion market share spot.
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News
Interest rate slashed to 2%
The Bank of England has cut the interest rate by 1 percentage point to 2 per cent in a move that will bring some respite to retailers.
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Opinion
Credit insurers are too powerful
Ever heard of a home insurer that pulled cover if a storm was forecast? Didn’t think so. But that’s the way credit insurers work.