Latest finance news – Page 365
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NewsH&M sales beat forecasts in May as second-quarter revenues rise 21%
Swedish fashion giant H&M has posted a bigger-than-expected jump in sales for May, driven by a weak krone against other currencies.
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NewsGap swings axe on North American stores and headquarters staff
Fashion giant Gap is to shut 175 stores in its core North American market and axe 250 head office jobs in a bid to improve performance.
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NewsWilko suffers profits slide as it loses out to value rivals
Variety store group Wilko has become the latest to feel the heat from the rise of rival value specialists and has posted a plunge in profits.
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NewsBreakfast briefing: Retail news on Tesco, Gap, Paperchase and more
Retail news round-up on June 16, 2015: Orion eyes Tesco’s Homeplus; Gap reveals store closure plans; Paperchase rolls out loyalty scheme and more
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NewsMajestic Wine boss Gormley vows to 'win' against cut-price grocery rivals
New Majestic Wine boss Rowan Gormley has insisted “the only way is up” for the retailer - and has vowed to fight his grocery rivals head-on.
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NewsMajestic Wine full-year profits fall: What the analysts say
Majestic Wine has reported a 22.5% slump in pre-tax profits as its boss sets about turning around the retailer. Here is what the analysts say.
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NewsSaks Fifth Avenue may launch in Europe as Hudson’s Bay buys Galeria Kaufhof
Hudson’s Bay Company, owner of Saks Fifth Avenue, is to buy German department store business Galeria Kaufhof from Metro Group.
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NewsIrish department store Clerys shuts after 162 years following sell-off
Irish department store Clerys was shut suddenly on Friday shortly after being bought by a team led by Irish investor Deirdre Foley’s D2 Private.
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NewsBusiness rates could cause 80,000 shops to close by 2017, BRC says
More than 80,000 shops across the UK could close within two years without an overhaul of business rates, according to the British Retail Consortium.
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NewsNet-a-Porter swings to £11m profit following record sales figures
Online fashion retailer Net-a-Porter has reported its first profit for five years, months after merging with Italian etailer Yoox.
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NewsMajestic Wine profits drop 22.5% as new boss reveals priorities
Majestic Wine’s pre-tax profit fell 22.5% to £18.4m, but new chief executive Rowan Gormley insists the retailer has “excellent future prospects”.
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NewsBreakfast briefing: Retail news on Hamleys, Tesco, business rates and more
Retail news round-up on June 15, 2015: Sanpower targets Hamleys takeover, Tesco ‘needs £5bn’ to shed junk rating, 800,000 stores could close over business rates and Net-a-Porter swings to profit.
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NewsBonmarché ‘weatherproofs’ ranges as it learns from last year’s warm autumn
Bonmarché is making changes to its fashion collections designed to maintain sales momentum during unseasonable weather.
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NewsStrong start to year for Ted Baker as sales surge 18.9%
Fashion retailer and brand Ted Baker has reported a “strong” sales rise across the business as it expands internationally.
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NewsBonmarché profits jump 55.3% as brand refresh wins over shoppers
Womenswear retailer Bonmarché reported a 55.3% jump in pre-tax profits to £12.4m despite a “challenging” second half of the year.
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NewsConcerns grow over progress of business rates review as deadline passes
Retailers are anxious about the progress and breadth of the Government’s review of business rates as the deadline for submitting evidence expires.
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NewsHome Retail boss bullish as fulfilment and tech expected to boost sales
Home Retail boss John Walden has shrugged off Argos’s poor first-quarter as he aims to focus on fulfilment and pushing 4K TVs.
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NewsSales suffer at Argos, but Homebase like-for-likes up for Home Retail Group
Home Retail Group has warned it expects a “challenging” first half at Argos after revealing a 2.6% drop in first-quarter sales.
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NewsZara owner Inditex first-quarter net profits jump 28%
Inditex – owner of fashion chains Zara, Pull & Bear, Massimo Dutti and Bershka – has revealed a 28% rise in net profits for its first quarter.
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NewsBoohoo reports strong start to year as sales increase 35%
Boohoo.com has reported a 35% increase in total sales to £41.3m as the fashion etailer’s UK and international efforts pay off.