All Financial results articles – Page 195
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OpinionComment: Light at end of tunnel for Argos
Structural issues are often blamed for Argos’ declining sales.
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News
Harvey Norman reports net profit decrease
Consumer electronics specialist Harvey Norman described its year to June 30 as one of its most difficult.The retailer reported a 32% fall in net profit to AUD172.5m (£111.3m) compared with the previous year. The drop was blamed on soft consumer sentiment and discounting.Chief executive Gerry Harvey was more positive about ...
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NewsThe Works reports strong sales growth
Discount bookseller The Works has continued the strong performance it notched up in the second half of last year with “positive” like-for-likes since year end.
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News
Net income plunges at Best Buy
Consumer electronics specialist Best Buy’s net income plunged 91% to $12m (£7.6m) for the three months ended August 4.That compares with $150m (£94.8m) in the same period a year earlier. Second-quarter adjusted operating profit fell 52% to $124m (£78.3m), hit by restructuring including store closures and job cuts.Total revenue fell ...
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News
Woolworths reports group turnover growth
Food and clothing retailer Woolworths reported group turnover growth of 11.8% to ZAR28.6bn (£2.15bn) for its financial year ended June 24. Operating profit was up 26.6% to ZAR2.7bn (£203.2m), and profit after tax increased by 25% to ZAR2.1bn (£158m).At Woolworths’ African food and clothing operations, total sales increased by 11.6% ...
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NewsCo-op boss criticises rivals’ ethical stance
Co-operative Group chief executive Peter Marks accused his grocery rivals of “jumping on the bandwagon” of ethical retailing as he reported a slide in first-half sales and profits.
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OpinionComment: Morrisons must reassure City
After the summer lull, the flow of trading statements begins again and the runes will be read ahead of the fast-approaching golden quarter.
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OpinionComment: M&S multichannel store is last hurrah of space race
Renewed speculation of a takeover bid for Marks & Spencer has been inevitable since it reported its worst trading performance in three years last month.
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News
Grocery retailer Ahold reports sales increase
Dutch grocery retailer Ahold’s sales increased 8% to e17.4bn (£13.76bn) in the first half of 2012.At constant exchange rates, that was a rise of 2.8% compared with the same period last year. Operating income was e724m (£572.8m), up 3.2%.Chief executive Dick Boer said: “We expect market conditions to remain difficult.”
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News
Grocer Delhaize posts sales growth
Grocer Delhaize posted sales of e11.17bn (£8.84bn) for the first half of 2012, representing growth of 10.1% compared with the same period the previous year. Operating profit was e207m (£163.8m), down 51.5%.In the US, revenues fell 2.2% to $9.35bn ($5.91bn). Excluding the 126 stores closed in February, sales increased 0.5%.In ...
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NewsCountrywide profits fall despite sales boost
Profits at rural specialist Countrywide fell last year despite a jump in sales.
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AnalysisInternational analysis: Walmart slows expansion in some overseas territories
Last week Walmart reported a strong set of results for its second quarter ended July 31.
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AnalysisAnalysis: Asda takes on Tesco in battle for spend
Asda’s chief executive is getting ready to fight off a revived Tesco.
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AnalysisProfile: Sally Bailey, chief executive, White Stuff
Tough times came late for White Stuff but, despite a profits plunge last year, its chief executive is preparing for future growth.
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News
Target reports second-quarter sales increase
Target’s second-quarter sales rose 3.5% to $16.5bn (£10.51bn). Like-for-like sales were up 3.1% on top of a 3.9% gain a year ago. Net earnings remained flat at $704m (£448.6m).During the quarter, Target added eight new stores, including its first three CityTarget stores. The retailer’s REDcard loyalty scheme penetration reached 12.8% ...
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NewsFat Face ready for growth after ditching discounting
Fashion retailer Fat Face says 7% sales jump and kicking ‘discount drug’ leaves it poised for economic recovery.
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OpinionComment: Competition hots up for Amazon
The launch of US bookseller Barnes & Noble’s Nook ereader in the UK this autumn will bring a welcome increase in competition in the ebooks market.
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AnalysisRetail Week on the Road: Ireland
This week’s final instalment of our On the Road series visits Cork, where food specialist Musgrave is in expansion mode, before heading to Tallaght to visit department store chain Heatons, and Dublin’s upscale department stores Arnotts and Brown Thomas.
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NewsDobbies profits increase amid tough conditions
Tesco-owned Dobbies Garden Centres recorded a 22% uplift in sales last year while profits rose 6%.
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NewsCostcutter sales edge up as it speeds up Kwiksave roll-out
Sales at Costcutter have edged up in the first six months of the year while it has revised its target for new Kwiksave stores upward.