Latest finance news – Page 460
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News
Woolworths reports group sales increase
Food and clothing retailer Woolworths said group sales increased 18% to R16.7bn (£1.21bn) in its first half to December 23, 2012.The retailer also said that operating profit was up 20.6% to R1.7bn (£123.6m). Profit before tax increased 21% to R1.8bn (£130.9m).
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News
Grocery retailer Spar posts rise in total group sales
Grocery retailer Spar posted total group sales up 3.5% to E12.58bn (£10.84bn) in its 2012 financial year, from E12.15bn (£10.47bn) in 2011.Domestic sales, excluding sport and leisure retailer Hervis, rose 3.8 % to E5.56bn (£4.79bn).Sales at Aspiag (Austria Spar International AG) in Croatia, Czech Republic, Hungary, Italy and Slovenia, were ...
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Sales increase at organic grocer Whole Foods Market
Sales at organic grocer Whole Foods Market in the first quarter were up 14% to $3.9bn (£2.5bn), and like-for-like sales rose 7.2%.EBITDA rose 19% to $337m (£217.8m) and net income advanced 24% to $146m (£94.4m).Co-chief executive officer Walter Robb said that a record 10 stores opened during the quarter, and ...
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NewsBestseller rules out Republic rescue as expressions of interest filed today
Danish fashion giant Bestseller has ruled out a rescue bid for branded fashion chain Republic, which collapsed into administration last week.
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NewsThe Entertainer to open first overseas stores in Pakistan and Dubai
Toy retailer The Entertainer is to open its first overseas stores in Pakistan and Dubai as it builds on its UK expansion.
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NewsWickes like-for-likes fall 7.6% in 2013 despite profit surge last year
Travis Perkins’ consumer arm, which largely comprises Wickes, experienced a like-for-like slump in the first seven weeks of 2013 despite a surge in profits last year.
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NewsGrowth stunted as retail business costs rocket £20bn in seven years
The cost of running retail businesses has soared by £20bn since 2006, driven by centrally set costs such as business rates.
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NewsMobile phone retailer EE losses widen after store rebrand
Mobile phone retailer EE has reported widening losses after investing in a rebrand of the Orange and T-Mobile store estates last year.
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NewsRetail administrations could lead to a sixth of stores lying empty
Retail administrations and the resulting store closures could lead to one in six stores on the high street lying empty this year, according to the Local Data Company
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NewsSir Philip Green eyes acquisition of beds retailer Dreams
Topshop tycoon Sir Philip Green has submitted a bid for up-for-sale retailer Dreams as he looks to sell the retailer’s beds in his BHS shops, it is understood.
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NewsShopper numbers plummet in January as snow hits footfall
Footfall fell 4.6% year on year in January as heavy snow deterred people from shopping, representing the weakest footfall figure recorded since last April, when shopper numbers declined 6.9%.
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NewsRestructurer Gordon Brothers called in to trade Republic
Restructuring specialist Gordon Brothers has been drafted in by administrator Ernst & Young to trade collapsed fashion retailer Republic as the hunt for a buyer continues.
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NewsCompany profile: Footwear retailer Shoe Zone
Footwear retailer Shoe Zone has called an abrupt halt to years of expansion plans by revealing it is to close 90 of its Stead & Simpson stores because of poor trading in December.
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NewsUK property tax is among highest levels across the world
UK retailers pay a disproportionately high level of tax on property, including onerous business rates, compared with their global counterparts says research commissioned by BRC.
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NewsRepublic founder mulls buying collapsed retailer as private equity firms circle
Republic founder Carl Brewins is understood to be interested in buying back the business he started as a market stall nearly thirty years ago as private equity firms circle the collapsed chain.
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News
Zara's Inditex Trent posts first half profits
Zara’s Indian business, Inditex Trent, has posted profit in two of the three years it has been in the market. In the first half of 2012, Inditex in India made profits of INR383m (£4.5m) and INR225m (£2.66m) for the previous two financial years, documents filed with the registrar of companies ...
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NewsTheo Paphitis mulls opening series of Robert Dyas shopping centre stores
Ryman Group boss Theo Paphitis is considering opening more Robert Dyas stores in shopping centres as he seeks to take advantage of new retail property coming online.
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NewsRepublic collapses into administration as 150 head office staff axed
Fashion chain Republic has plunged into administration as 150 head office staff have been made redundant.
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NewsAlbemarle & Bond pre-tax profits plummet 33% in first half
Pawnbroker Albemarle & Bond’s pre-tax profits dropped 33% to £8.1m in its first half to December 31. However, retail sales jumped 16.7% to £10.5m, with profits up 32%.
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NewsFashion chain Republic poised to plunge into administration
Fashion retailer Republic is understood to be on the verge of administration, with administrator Ernst & Young waiting in the wings.