All articles by George MacDonald – Page 240
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OpinionKingfisher well placed for future
This year Easter is just one battle in a longer war of attrition between the DIY groups that many believe will end in consolidation.
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NewsBrokers unmoved by surging retail stocks
Rocketing store shares prompted open-jawed amazement on the part of some analysts, who are convinced the market has got ahead of itself.Fresh back from his holidays, Pali’s Nick Bubb clocked the “astonishing” surge of the past few weeks but maintained his bear stance.“Green shoots can quickly shrivel and we are ...
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NewsIdeal Shopping Direct makes full-year loss
The directors of home shopping group Ideal Shopping Direct have pledged to restore the retailer to profitability after a turbulent year.Ideal posted a loss of £4m before exceptional charges of £9.2m in the year to December 28, 2008, when sales fell 2 per cent to £94.7m. The previous year the ...
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NewsArgyll Partners takes hit on Woolworth Deutschland
Retail corporate financier and private equity firm Argyll Partners’ investment in Woolworth Deutschland has turned sour as the German retailer plunged into administration.Argyll, one of the best known retail finance boutiques, bought into Woolworth Deutschland 18 months ago but the store group was hit by poor Christmas trading, competition from ...
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‘Stupendous’ week for general retail stocks
General retailers staged a “stupendous run” last week, broker Numis observed, buoyed by better than expected Marks & Spencer numbers.
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OpinionHunger for food stocks sated
General retailers’ popularity has been growing of late. At the end of last week some big names rose again, at the expense of the food giants.Although food stocks are often popular for their defensive qualities during tough times, the big grocers were not the flavour of the week. Last Friday ...
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News
Rising cost of food drives shop price inflation
Shop price inflation edged up to two per cent in March from 1.9 per cent in February – the fourth consecutive month of rising inflation.The weakness of the pound was blamed for pushing up food costs but key general merchandise lines, such as clothing, were cheaper than a year ago.Food ...
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NewsSymbol store group Henderson reports profits rise
Henderson Group, which owns and runs 72 symbol stores including Spar and Eurospar in Northern Ireland and supplies 400 shops, has revealed a “strong performance” in 2008 and expansion plans for this year.The company did not disclose exact figures, but said that operating profit rose 10.7 per cent and turnover ...
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NewsProfits leap at JD Sports Fashion
JD Sports Fashion has reported a surge in full-year sales and profits and an encouraging start to the new year.The apparel group, whose chains include Bank and Scotts as well as the eponymous JD Sports, generated a 9 per cent increase in pre-tax profits to £38.2m on sales 13.3 per ...
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High street like-for-like sales rise in March
Retail like-for-like sales rose by 1.3 per cent in March, according to the BDO Stoy Hayward High Street Sales Tracker.It was only the third time in the past 12 months that sales entered positive territory, and the homewares category advanced for the first time since June 2008 with a 5.7 ...
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NewsJohn Lewis department stores report ‘strongest week’
John Lewis department stores delivered their strongest performance of the first half so far in the week to March 28, when sales fell 2 per cent.
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AnalysisSir Stuart Rose
He may have led M&S to renewed success, but Rose’s role at the retailer is being challenged. George MacDonald separates man from media
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NewsM&S rounds off good week for retail stocks
Marks & Spencer spearheaded an advance by retail shares on Tuesday, when its fourth-quarter numbers defied downbeat expectations.The retail sector rose 6 per cent on the day, when there was also the successful refinancing of Clinton Cards and placings of Debenhams and Sainsbury’s shares. Improving sentiment towards retailers helped the ...
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John Lewis Partnership reports sales fall
The John Lewis Partnership suffered a sales fall last week at its eponymous department stores and supermarket chain Waitrose.
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Opinion
The end justifies the means in Rose’s case
His style may be Savile Row but Marks & Spencer boss Sir Stuart Rose this week once again showed himself to be a scrapper. The retailer’s fourth-quarter update confounded bearish expectations as a raft of initiatives bore fruit. Like-for-like declines won’t have them dancing in the foyer of Waterside House ...
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Marks & Spencer mid-season Sale begins tomorrow
Marks & Spencer’s mid-season Sale will begin tomorrow, when prices on selected lines will be cut by as much as 50 per cent.
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Opinion
Welcome relief on costs
Tuesday’s unexpected but very welcome deferral of the proposed 5 per cent rates rise was not the only good news in retail property this week.For several months Retail Week has been reporting on all sorts of argy-bargy between retailers and landlords.But representatives of the two groups, spearheaded by Arcadia and ...
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Generalists on the up but food out of favour
General retailers, but not their food counterparts, once again outperformed the market but remained well down year on year.
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Signet to cut costs after challenging year
Jewellery giant Signet intends to slash costs and cut debt to cope with harsh trading conditions.
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JJB Sports in eleventh-hour talks on clubs sale
JJB Sports remains locked in talks to sell its fitness clubs division despite the expiry yesterday of an extension to its standstill agreement with lenders.