Latest finance news – Page 459
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News
Walmart records solid trading for fourth quarter
Walmart recorded solid trading in its fourth quarter. In the 13 weeks to January 25 group net sales increased by 3.9% to $127.1bn (£84.13bn). Group income from continuing operations rose 7.9% to $5.6bn (£3.71bn).Much of the growth was driven by overseas operations. Walmart International reported a 6.9% increase in fourth-quarter ...
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NewsBudget variety retailer Tiger pre-tax profits rocket 101%
Budget variety retailer Tiger enjoyed a record 2012 as pre-tax profits rocketed 101% to £1.6m in the year as the retailer expanded its store base.
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NewsSports Direct buys young fashion retailer Republic out of administration
Sportswear giant Sports Direct has confirmed it has acquired young fashion retailer Republic out of administration.
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NewsStore closures surge tenfold in 2012 driven by retail administrations
An unprecedented level of large-scale retail collapses pushed the number of store closures among multiple retailers up tenfold in 2012.
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News
ShopRite posts first half sales growth
ShopRite has posted sales growth of 13.8% to R46.7bn (£3.5bn) for the first half ended December 31, 2012.The Sub-Saharan grocery market leader also revealed an increase of 16% in trading profit to R2.5bn (£187.4m). Net profit rose 19.6% to R1.7bn (£127.4m).In South Africa, the retailer increased turnover by 11.5% to ...
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News
Zalando reports revenue increase
Online shoe and fashion retailer Zalando’s revenues increased 125% to E1.15bn (£1.01bn) in 2012.Preliminary EBIT loss widened to E90m (£79.2m) after a loss of E60m (£52.8m) in the previous period.The retailer said it broke even at EBIT level in Austria, Germany and Switzerland.
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News
Turnover soars at Casino in 2012
Casino’s turnover soared 22.1% to E41.97bn (£36.91bn) in its full-year 2012 compared with 2011. Net profit climbed 84.4% to E1.07bn (£941m) thanks to the consolidation of its grocery subsidiary GPA in Brazil.In France, the retailer recorded a slight decline in turnover of 0.8% at constant exchange rates excluding petrol, to ...
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NewsSports Direct founder Mike Ashley sells £100m of shares
Sports Direct founder Mike Ashley has sold £100m worth of shares in the retailer cutting his stake down to 64.4%.
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NewsUnited Carpets' share suspension lifted after administration
United Carpets Group has relisted its shares after a controversial pre-pack administration in which the company acquired its assets back from the administrators.
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NewsPrimark rules out retail park expansion despite debut success
Primark finance boss John Bason has ruled out widespread expansion in retail parks despite the success of its Milton Keynes debut.
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NewsSuppliers increase their credit insurance cover after retail administrations
Suppliers to retailers increased their trade credit insurance cover by 17% last year driven by furniture and electronics businesses after the number of retail failures rose, according to insurer Atradius.
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NewsConvenience retailer Nisa secures £100m of funding from Barclays
Convenience store retailer Nisa has secured £100m of refinancing from Barclays as the grocer’s sales continue to surge.
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NewsThorntons first half profits increase as turnaround gains pace
Chocolatier Thorntons first half pre-tax profits before exceptionals jumped £2.2m to £5.3m as sales edged up 2.9% to £133.7m.
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NewsPrimark reports "outstanding" first half as like-for-likes soar 7%
Value fashion retailer Primark’s like-for-likes are expected to soar 7% in its first half to March 2 thanks to weak comparatives and “good trading” over Christmas.
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NewsBoots acquires 49% stake in its hearing care provider
Health and beauty retailer Boots UK has acquired a 49% stake in its hearing care provider David Ormerod Hearing Centres (DOHC).
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NewsCompany profile: Reiss
Loved by the Duchess of Cambridge, upmarket fashion retailer Reiss has benefited from a surge in sales driven by its royal clothes horse.
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News
Department store group Karstadt publishes 2011 figures
Department store group Karstadt has - 14 months after the end of the reporting period - published its figures for the year from October 1, 2010 to September 30, 2011.The retailer reported that sales fell 3.2% to E3.23bn (£2.79bn), resulting in a net loss of E20.8m (£18m).
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News
Walmart has 'worst sales start to a month in seven years'
Walmart has reportedly had the worst sales start to a month in seven years, according to a leaked internal email obtained by Bloomberg.The email, from the company’s vice-president of finance and logistics Jerry Murray, reported that month-to-date sales were “a total disaster”.Possible reasons for the poor performance from the retailer ...
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NewsKingfisher UK and Ireland fourth quarter like-for-likes fall 5.8%
Kingfisher UK and Ireland like-for-likes dropped 5.8% over its fourth quarter as it was hit by poor weather and weak consumer confidence.
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NewsSports Direct certain of hitting £270m EBITDA target as sales soar
Sports Direct is certain of hitting its full year £270m EBITDA target as group sales soared 21.1% to £589.5m in its last quarter.