Latest finance news – Page 196
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NewsB&M posts ‘record-breaking’ sales
B&M has posted increased sales during its first quarter which boss Simon Arora hailed as its “third consecutive record Easter trading period”.
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NewsCBI and BRC welcome Johnson but warn of challenges
The Confederation of British Industry and British Retail Consortium have welcomed the appointment of Boris Johnson as the new prime minister but warned of the issues facing business and retail more widely.
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NewsJoules profits and sales climb in ‘strong’ year
Joules has reported soaring full-year profits and sales in what boss Colin Porter says was driven by “growth across channels and product categories, both in the UK and internationally”.
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NewsMcColl’s seeks ‘stability’ as profits nosedive
McColl’s has posted a decline in profits at the interim mark despite an uplift in sales as boss Jonathan Miller says the group plans to “refocus on retail execution”.
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NewsSports Direct drops Debenhams CVA challenge
Sports Direct has withdrawn its legal challenge to Debenhams’ CVA – but will continue to fund the objection lodged by one of the department store chain’s landlords.
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NewsCBI: New PM must bring in annual business rates reviews
The Confederation of British Industry has called on the next prime minister to deliver annual business rates revaluations, as part of a sweeping manifesto to “get the UK economy back on track”.
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NewsHomebase rescues Bathstore from administration
Homebase has rescued Bathstore from administration, taking on more than 40 of its stores and saving 154 jobs.
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NewsLiberty sold to private equity group in £300m deal
A controlling stake in Liberty has been sold by current owner BlueGem to private equity consortium Glendower Capital.
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NewsBen Sherman owner eyes Jack Wills acquisition
The owner of fashion label Ben Sherman, Marquee Brands, is among those eyeing a potential acquisition of troubled Jack Wills.
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NewsTed Baker founder Ray Kelvin considers backing buyout
Ted Baker founder and former chief executive Ray Kelvin is mulling support for a private equity buyout of the company, just four months after leaving following allegations of sexual harassment.
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NewsAgenda: Joules, B&M and Bonmarché update the market
Retail Week looks ahead to the next seven days with updates from Joules, Bonmarché and the Kantar/Nielsen figures on the agenda.
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NewsDebenhams to seek additional £50m from lenders
Debenhams is set to ask its lenders for a further £50m cash injection to carry the struggling retailer through Christmas trading.
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NewsHotel Chocolat full-year sales climb driven by ‘innovation’
Hotel Chocolat has recorded a healthy rise in its full-year sales bolstered by “strong growth” across all divisions of its business.
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NewsWatches of Switzerland profits soar in maiden results
Watches of Switzerland recorded surging profits bolstered by rising sales in what boss Brian Duffy described as a year of “strong, profitable growth”.
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NewsAlmost one in six high street shops lie empty
The shop vacancy rate in the UK stands at 15.9%, according to figures released by local councils to restructuring specialist Duff & Phelps.
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NewsPoundland owner sales rise as chain ‘outperforms’ high street
Pepkor Europe, owner of businesses including Poundland in the UK, has seen profits and revenue rise during the first half of its financial year.
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NewsBurberry revenue rise driven by new product
Burberry has posted an increase in revenue for the first quarter and hailed the “excellent customer response” to some of its new product lines.
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NewsPets at Home buys into dog-walking service Tailster.com
Pets at Home has taken a stake in online pet-sitting service Tailster as it targets a bigger slice of a market said to be worth more than £1bn per year.
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NewsSports Direct delays full-year results
Sports Direct has delayed the filing of its full-year results due to the “complexities” sparked by its House of Fraser acquisition.
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NewsTravis Perkins accelerates Wickes disposal plans
Travis Perkins is ramping up plans to sell its Wickes DIY business and could offload the chain by the middle of next year.