Latest finance news – Page 385
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NewsTesco job cuts start at the top as senior managers face axe
Tesco has begun cutting jobs and shifting responsibilities among some of its most senior executives, it is understood.
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NewsUSC bought out of administration by fellow Sports Direct fascia Republic
Sports Direct high street fascia USC has been bought out of administration by Republic.com, a retailer also owned by Mike Ashley’s Sports Direct.
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NewsJD Sports sales soar over Christmas after dumping Bank fashion chain
JD Sports has reported a sales surge across the Christmas trading period after offloading its struggling young fasion fascia Bank.
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NewsPhase Eight poised for African expansion after Foschini buys the retailer
Phase Eight will be sold to South African retailer Foschini Group in a deal valuing the upmarket women’s fashion retailer at £300m.
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NewsSainsbury's to drop Tesco auditor PwC in favour of Ernst & Young
Sainsbury’s is dropping PricewaterhouseCoopers (PwC), which also audits the accounts of scandal-hit Tesco, as its auditor in favour of Ernst & Young (EY).
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NewsHMV's vinyl resurgence helps it reclaim physical music top spot
HMV recorded its highest vinyl sales before Christmas since the mid-1990s and reclaimed its crown as the UK’s biggest retailer of physical music.
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NewsMothercare boss describes Black Friday event as 'overhyped'
Mothercare chief executive Mark Newton-Jones has described Black Friday as “overhyped” and expects it to “moderate” next year.
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NewsBonmarché Christmas like-for-likes jump, but gross margin under pressure
Womenswear retailer Bonmarché has posted a jump in Christmas like-for-like sales, but said gross margin remains under pressure.
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NewsMothercare third-quarter like-for-likes up as turnaround plan continues
Mothercare has reported like-for-likes rose 1.1% in the UK for its third quarter as it continues its plan to turn the business around.
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NewsArgos Christmas like-for-likes flat as Black Friday hits sales patterns
Argos’s like-for-likes were flat for the 18 weeks to January 3 as Black Friday ‘significantly impacted’ the shape of sales over Christmas.
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NewsPrimark reports sales rise of 15% after 'strong' Christmas trading
Primark has reported its sales were up 15% for the 16 weeks ending January 3, driven by increased selling space and high sales densities.
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NewsSuperGroup plans ecommerce investment after record Christmas online
SuperGroup has posted a “record trading period” online over the Christmas period as the retailer continues to invest in developing its online offer.
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NewsAquascutum narrows losses to £1.6m in its full-year results
Luxury clothing retailer Aquascutum has narrowed its losses in its latest full-year results, despite sales plunging by 23% to £6.8m.
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NewsThird-quarter sales rise at Burberry but retailer hit by Hong Kong protests
Burberry reported an 8% rise in comparable sales in its third quarter but the fashion retailer said it was hit by the protests in Hong Kong.
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NewsShoe Zone full-year pre-tax profit almost doubles to £10.6m
Shoe Zone reported pre-tax profit almost doubled in its first year as a listed company, up 99.15% to £10.6m over the year ended October 4.
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NewsShop Direct reports a Very merry Christmas with sales up 4%
Shop Direct has reported a 4% rise in total group sales over Christmas, as the home-shopping group said Black Friday was its busiest trading day on record.
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NewsBreakfast briefing: Retail news on Ted Baker, Tesco and Waterstones
Retail news round-up on January 14, 2015: Ted Baker chief sells shares; Tesco Grocery app for Google Glass; Waterstones could acquire Blinkbox; and more.
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NewsMcColl's reports 0.9% dip in like-for-like sales over Christmas
McColl’s recorded a 0.9% drop in like-for-like sales in the six weeks to January 11, as it kept 578 convenience stores open on Christmas Day.
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NewsAsos reports increase in Christmas sales but margins hit
Fashion etailer Asos has reported its retail sales were up 15% over the Christmas period but margins were hit.
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NewsDebenhams posts Christmas sales rise but margins suffer
Debenhams generated a sales uplift over Christmas but suffered a hit to margins as its clothing performance proved “challenging”.