Latest finance news – Page 457
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News
French sports retailer Oxylane’s Decathlon to enter Austria
French sports retailer Oxylane’s Decathlon could buy Austrian retailer Sport Eybl to enter the country, according to reports in local trade magazine Format.The retailer has 52 Sport Eybl and Sport Experts stores in Austria, and is reportedly up for sale.
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NewsOnline, not stores, key to overseas growth, says Next boss
Next has shunned opening stores overseas in favour of pushing its online operation as it prepares to launch its Chinese website this year.
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NewsHilco sole bidder for collapsed HMV as deal nears
Restructuring firm Hilco remains the only bidder in the frame for collapsed entertainment retailer HMV as its future looks to be determined in the next few days.
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NewsSofa retailer DFS refinances after strong first half
Sofa giant DFS has refinanced the business after it reported a 9.9% jump in EBITDA to £31.1m in the 26 weeks to January 26.
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NewsFashion brand Ted Baker delivers "strong" full-year performance
Ted Baker delivered a 19.2% surge in pre-tax profit to £28.9m in what has been a “significant” year for the brand’s international development.
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NewsNext full-year profits soar 9% as new year gets off to slow start
Next pre-tax underlying profit jumped 9% to £622m over the year against a 3.1% sales jump, however, the new year has got off to a slow start.
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Department store operator Myer reports solid first-half
Department store operator Myer’s first-half sales increased 1.7% to AUD1.73bn (£1.19bn) and 1.4% on a like-for-like basis.Net profit after tax edged up 0.7% to AUD87.9m (£60.4m).Myer chief executive Bernie Brookes said the business had delivered a solid first-half result, including a strong second quarter, which reflected a well-planned and executed ...
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NewsFair Rates For Retail campaign for business rates marches on
Retail Week has not given up the fight to get a fairer business rates system for retailers despite the Chancellor George Osborne shunning the sector in his Budget announcement today.
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NewsBudget 2013: Body blow to retailers as Chancellor ignores pleas to freeze business rates
Chancellor George Osborne has struck a body blow to retailers by ignoring pleas to freeze business rates.
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News
Discount banner Rema 1000 reports sales growth
Discount banner Rema 1000 grew sales by 19.5% in Norway and Denmark during 2012.The business boosted owner Reitangruppen’s net sales by 12.4% to NOK71.7bn (£8.18bn) for 2012. EBITDA increased by 19.8% to NOK2.17bn (£247.6m).Revenue growth was also lifted by Reitan’s acquisition of more than 1,000 kiosks in Finland and the ...
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News
Adeo claims 2012 results make it European DIY leader
Adeo has claimed its 2012 results now make it the European DIY leader, ahead of UK-based Kingfisher, which announces its 2012 results later this month.The owner of the Leroy Merlin banner reported that sales rose 8.3% to E14.9bn (£12.76bn) for the year, driven by a 3.4% rise in like-for-like sales. ...
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NewsFindel disposes of healthcare division as group sales soar
Findel is to dispose of its healthcare division to LDC, the private equity arm of Lloyds Bank as group sales jump 8.3% in its year to date.
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NewsSainsbury's boss calls for National Insurance holiday ahead of Budget
Sainsbury’s chief executive Justin King has called for Chancellor George Osborne to give businesses a National Insurance holiday to encourage job creation in tomorrow’s Budget.
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NewsDiscounter B&M Bargains' profits rocket 43% after strong year
B&M Bargains recorded a 43% surge in profits last year as pressure on disposable income drew more shoppers to the value chain.
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NewsSainsbury’s posts strong fourth quarter as full-year like-for-likes rise 1.8%
Sainsbury’s has reported a strong fourth quarter which contributed to a 1.8% rise in full-year like-for-likes, buoyed by a surge in own-brand sales.
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NewsMarks & Spencer braced for Qatari takeover bid
British department store Marks & Spencer is braced for a reported £8bn takeover bid from Qatar.
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News
Gross sales rise at grocer Mercadona
Mercadona’s gross sales rose 7% to E17.8bn (£15.55bn) in 2012. Net income also increased 7% to E508m (£443.7m).The grocer invested E650m (£567.7m) to open 60 stores and hired 4,000 employees during the year, giving it a total staff count of 74,000.Mercadona is reportedly postponing global expansion.
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NewsArgos like-for-likes rise 5.2% as tablets drive sales
Argos like-for-like sales jumped 5.2% in the eight weeks to March 2 as sales of tablet devices drove a strong performance.
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NewsMorrisons enters talks with online grocer Ocado as profits fall
Morrisons has entered discussions with online grocer Ocado to kick-start its online grocery offer after profits fell last year.
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News
Delhaize Group's operating profit plummets
Delhaize Group’s operating profit plummeted 52% to E390m (£340.6m) in 2012. EBITDA fell 14.5% to E1.3m (£1.1m), mainly because of a store portfolio optimisation charge during the first quarter.Aside from the optimisation, the group said selling, general and administrative costs amounted for 21% of revenues.