All City & finance articles – Page 589
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Opinion
My first 100 days speaking up for retail
Tomorrow is my 100th day as British Retail Consortium director -general, so I’ve been looking back through my diary.
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News
Land of Leather sales slump set to continue
Land of Leather’s negative like-for-like sales are expected to continue for the rest of the year, as the City forecasts that there will be no upturn for the troubled furniture sector.
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NewsSainsbury’s price cuts are ‘sign of the times’
Sainsbury’s has begun a huge promotional push in an effort to lure cash-strapped shoppers into its stores and to its web site.
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News
Lush on mission to double UK stores after 30% rise in profits
Handmade-cosmetics retailer Lush will forge ahead with its expansion plans after posting a 30 per cent uplift in group pre-tax profits to 10.3 million.
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News
MK One chief quits as fears of break-up grow
MK One chief executive Dominic Galvin has left the fashion retailer after it was sold to retail restructuring specialist Hilco.
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News
Ocado opens door to float with five-year Waitrose deal
Ocado has agreed in principle a landmark five-year deal with Waitrose, paving the way for a potential flotation of the e-tailer.
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News
Interest rate held at 5%
The Bank of England has held interest rates at 5 per cent today disappointing hard-pressed retailers and customers feeling the impact of the credit crunch.
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News
Carphone Best Buy deal: City reaction
The creation of an electricals joint venture by Carphone Warehouse and Best Buy is likely to be bad news for European groups such as DSGi, Kesa and Metro-owned MediaMarkt.
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News
Mandarina Duck sold to Italian leather retailer
Italian leather goods retailer Antichi Pelletieri is to buy Bologna-based Mandarina Duck parent Finduck Group for €36.9 million ( 29.2 million) and press ahead with an emerging markets expansion plan.
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News
Fabric Warehouse enters administration
Homewares retailer Fabric Warehouse has gone into administration, becoming the latest victim of the credit crunch.
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News
The Works sale confirmed
Beleaguered discount bookseller The Works has been bought by private equity company Endless, as reported by Retail Week Online yesterday (May 6).
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News
Next set for poor first quarter
The City fears fashion group Next may report a like-for-like sales slump of as much as 10 per cent tomorrow, when the retailer updates on first-quarter trading.
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News
Bolland scoops £760,000 bonus
Morrisons chief executive Marc Bolland received a 760,000 bonus last year, almost 100 per cent of his salary, after leading a turnaround at the grocer.
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News
Top analyst slams M&S bonus scheme
Broker Credit Suisse has cast doubt on the terms of Marks & Spencer directors’ bonus scheme, questioning whether it is in the retailer’s long-term interests.
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News
Endless buys The Works
Beleaguered discount bookseller The Works is understood to have been bought by private equity company Endless, as forecast by Retail Week (March 28).
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News
Vision Express snaps up G C Bateman
High street Optician Vision Express has bought 70-store family business G C Bateman Group for an undisclosed sum.
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Opinion
Light at the end of the tunnel
Despite the gloomy headlines, financial markets are recovering. This is most evident in LBO debt markets where valuations have improved by more than 5 per cent in less than a month.
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News
M&S could double stock value if it focuses on cash, analyst claims
Marks & Spencer’s stock is languishing below the level of Sir Philip Green’s abortive 400p-a-share offer in 2004, but could it be worth 850p?
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News
US retailers lure consumers as first tax rebates come in
Many of the US’s biggest retailers are offering promotional incentives for customers to trade in tax rebate cheques, as the first payments from President Bush’s US$100 billion ( 50.21 billion) tax giveaway arrived in bank accounts and through the post on Monday.
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Analysis
A tale of two nations
As the slowdown starts to take its toll, a more complex picture of which areas are suffering most is beginning to emerge. Katie Kilgallen investigates the geographical divide