All City & finance articles – Page 580
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News
Moss Bros close to appointing chairman
Moss Bros is understood to have approached former BAA retail director Barry Gibson about the role of chairman.
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News
Tesco cautious on non-food
Tesco has reported a 3.5 per cent like-for-like sales uplift, excluding petrol, in its first quarter for its domestic market, but warned that its rate of growth for non-food has eased as consumers become more cautious.
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News
Signet profits down 24%
US jewellery retailer Signet has painted a bleak future for its UK business after posting a 24 per cent fall in first-quarter profits.
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News
Flying brands: the city view
Tricia Killen, former president of Reader’s Digest for Western Europe, has her work cut out as the new chief executive of home shopping group Flying Brands.
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News
Morgan Stanley turns positive, but upbeat sentiment shortlived
Bullish noises from Morgan Stanley bolstered sentiment towards store groups, but food and general retailers’ shares moved little over the week.
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Opinion
What on earth is all this recession talk?
Recession, what recession? In the paranoia of the past few months, with soundbites to the effect of “trading is the worst I can ever remember”, many retailers are suffering memory loss and are in denial about the realities of retail life.
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News
More misery for DIY as housing slump worsens
Deepening gloom in the housing market is likely to exact a heavy discretionary spending toll on retailers this year.
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News
Interest rate held at 5%
The Bank of England has left the UK interest rate unchanged at 5 per cent amid consumer fears about rising food and fuel prices.
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Opinion
Don’t sacrifice staff if you want to stay on top
It’s a challenging time for the retail industry.
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News
Supermarkets shield shoppers from price rises
Retailers are protecting shoppers from food price rises, according the British Retail Consortium.
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News
Kingfisher profits rise 8.9% in first quarter
DIY group Kingfisher reported a better-than-expected rise in sales and profits for the 13 weeks to May 3.
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News
Credit insurer warns of more retail administrations
Credit insurer Euler Hermes has signalled more retail administrations on the horizon as trading conditions continue to worsen on the high street.
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News
Staples ups offer for Corporate Express
US office supplies retailer Staples has increased its offer for rival Dutch business Corporate Express by 14 per cent.
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News
Tesco snaps up RBS stake in Tesco Personal Finance
Tesco is to acquire Royal Bank of Scotland’s stake in Tesco Personal Finance for 1 billion, bringing to an end a joint venture with the bank that has lasted almost a decade.
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News
Moss Bros supplier on trail of Baugur stake
Menswear supplier Berwin & Berwin is understood to be interested in buying a slice of Baugur’s stake in Moss Bros after the Icelandic investor walked away from its 40 million takeover bid for the retailer.
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Opinion
More twists in Moss Bros saga
Baugur dropped a bombshell this week when it announced it had scrapped its offer for struggling menswear retailer Moss Bros. But, after the drawn-out process and bitter in-fighting, should we be too surprised?
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News
City slams upbeat ONS April retail sales data as incorrect
Office for National Statistics (ONS) figures showing resilient retail sales in April have been blasted by the City for painting a rosier picture than that experienced on the high street.
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Analysis
Retailers to suffer as shoppers feel the pinch of rising fuel costs
Will growing concern over the cost of fuel begin to change shopping habits? That was the question being posed this week as images of protesting truck drivers dominated the news.
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News
DIY chains take hammering over first quarter
The world’s two largest home improvement retailers, Home Depot and Lowe’s, have reported a meltdown in first-quarter profits as the US housing market continues to slump.
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News
Gap profits soar while Old Navy haemorrhages sales
Beleaguered US fashion group Gap has suffered a like-for-like sales dive in its first quarter, with chief executive Glenn Murphy describing the retail climate as “one of the toughest” in recent memory, despite profits soaring 40 per cent over the period.