Latest finance news – Page 453
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NewsLord Harris takes backseat as Carpetright rejigs board
Carpetright founder Lord Harris is to scale back his day-to-day involvement in the retailer, which has reshuffled boardroom responsibilities.
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Convenience store group CP to acquire Siam Makro
Convenience store group CP All has signed an agreement to acquire Dutch SHV Makro-owned Siam Makro in Thailand.CP All, controlled by Dhanin’s Charoen Pokphand Group, will pay THB787 (£17.72) a share for 64% of Siam Makro, a total of THB188.88bn (£4.25bn). The acquisition is subject to shareholder approval.CP All is ...
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Clicks Group reports turnover increase
Clicks Group’s turnover increased 11% to ZAR8.5bn (£614.4m) in the first half of its financial year ended February 28.Clicks’ drugstore turnover rose 7% to ZAR5.6bn (£404.8m), while the number of stores reached 430.Operating profit at the group’s music and video chain, Musica, increased 27.3% despite the closure of eight outlets.However, ...
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NewsArgos to confront showrooming by introducing free instore Wi-Fi
Argos is to confront the trend of showrooming head on in a vote of confidence in the continued appeal of its retail proposition.
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NewsHomebase boss: 'We performed as well as we could in a tough market'
Homebase managing director Paul Loft insisted the DIY retailer performed “as well as we could” in a difficult market after reporting a full year profit slump.
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NewsArgos reports first like-for-like rise in five years driven by multichannel
Argos has recorded its first like-for-like sales rise for five years as the general merchandise retailer grew its multichannel business.
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NewsWhittard reports profits increase after margins improve
Profits are up at coffee and tea specialist Whittard of Chelsea after it streamlined its store estate and improved its range and multichannel offer.
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Lekkerland's reports net sales increase
Lekkerland’s net sales increased €127.2m (£109.4m) to €11.48bn (£9.87bn) during its 2012 financial year.The figures were adjusted for a discontinued operation in Eastern Europe. The group’s net profit rose 58% during the year to €80.3m (£69.1m), because of strong earnings in Germany. “We have a positive outlook for the future,” ...
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DIY retailer Praktiker reports sales decrease
Sales at DIY retailer Praktiker fell 10.4% to €570.1m (£490.3m) during its first quarter ended March 31.Like-for-like sales slid 8.8%. Figures exclude the business in Turkey, which is at present in administration, and the Bâtiself banner in Luxembourg, which is to be divested.Sales in Germany declined 9.9% to €457.7m (£393.6m), ...
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NewsCarphone Warehouse to acquire Best Buy’s stake in joint venture
Carphone Warehouse has agreed to acquire the 50% of its European joint venture with Best Buy it did not already own for £471m.
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NewsComet administration costs £15m in closure fees
The total cost of winding up Comet has been revealed as £15m after the electricals retailer crashed into administration in November.
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NewsOcado dismisses speculation of sale to Morrisons
Ocado has moved to quash speculation that Morrisons is interested in acquiring or taking a stake in the online grocer.
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NewsCompany profile: Beales
After several tough years the retailer’s new chief executive is trying to get sales moving.
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JCPenney unveils plans to enhance financial position
Troubled department store group JCPenney has unveiled plans to enhance its financial position, having burned through $10m (£6.56m) in the fiscal year ended February 2, prompting liquidity concerns. As part of the process, the retailer has drawn $850m (£556.7m) from its $1.85bn (£1.21bn) committed revolving credit facility. Proceeds will fund ...
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NewsFarmfoods reports profits rise despite sales dip
Frozen food specialist Farmfoods has reported a 10% increase in pre-tax profits to £27m despite a dip in turnover last year.
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Delhaize Group's takeover bid of C Market on hold
Belgium-based grocer Delhaize Group’s talks with the Serbian government regarding a takeover of the latter’s stake in C Market stores are on hold.The reason given was that the authorities are investigating C Market’s original flotation on the Belgrade Stock Exchange in 2005 as part of a review of the sale ...
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Discounter Sok to buy Spanish retailer Dia's Turkish business
Discounter Sok has reached an agreement to buy all of Spanish retailer Dia’s business in Turkey for TRY320m (£116.1m).The transaction is subject to the approval of Turkish antitrust authorities.
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Rewe Group to invest in small online companies
Rewe Group is to invest in small online companies to gain ground in ecommerce.“We want to establish sort of a business incubator for start-ups,” chief executive Alain Caparros told business title Wirtschafts Woche. He said that Rewe may have underestimated the dynamics of online operations.Rewe also wants to extend its ...
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NewsN Brown scales back catalogues as it benefits from online revolution
Home shopping group N Brown is scaling back catalogues as online sales soar.
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NewsAsos international boss Jon Kamaluddin to exit after nine years
Asos international director Jon Kamaluddin is to exit after nine years with the online retailer.