Latest finance news – Page 463
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NewsThe Government is urged to back retail as failures begin to mount
Pressure is mounting on the Government to ease the burden of business rates following the collapse of high street retailers Blockbuster, Comet, HMV and Jessops in recent weeks.
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NewsCollapsed HMV receives more than 50 expressions of interest
HMV administrator Deloitte has received more than 50 expressions of interest, including from trade, as it searches for a buyer for the collapsed entertainment retailer.
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News'Phenomenal' tablet demand drives Christmas sales surge at Dixons
Electricals retailer Dixons reported strong Christmas trading as UK like-for-likes rose 8%, driven by “phenomenal” sales of tablets and the collapse of rival Comet.
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NewsHome Retail raises profit forecast after strong Christmas at Argos
General merchandise giant Argos generated a like-for-like sales rise of 2.7% over Christmas, and parent Home Retail Group has raised its full-year profit expectations.
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Fast Retailing report net profit increase
Fast Retailing’s net profit rose 23% in its first quarter.For the September to November period, net profit increased to ¥38.4bn (£268.2m) from ¥31.15bn (£217.5m).Sales rose 17% on last year to ¥318.14bn (£2.22bn) and domestic sales increased 8% to ¥204.7bn (£1.43bn).The retailer’s sales from Uniqlo overseas rose 51.1% to ¥64.5bn (£450.4m) ...
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Sales increase at Walmart-controlled Massmart
Walmart-controlled Massmart’s preliminary sales increased 14.6% to R36.1bn (£2.57bn) in the first half to December 23, 2012. Like-for-like sales increased 7.3%.
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NewsGrocery volumes bounce back as supermarkets increase ad spend
Grocery revenue by volume bounced back into growth in the four weeks to January 5 as supermarkets upped their advertising spend over the Christmas period.
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NewsThe Original Factory Shop seeks adviser for a sale
Discount retailer The Original Factory Shop is seeking an advisor as it prepares for a future sale and could be valued for as much as £100m, it is understood.
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NewsBlockbuster collapses into administration
Entertainment specialist Blockbuster has plunged into administration, making it the third large retailer to hit the buffers in a week following the collapse of Jessops and HMV.
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Magnit reports unaudited financial results
Magnit has reported unaudited financial results. Consolidated net retail revenue increased to RUB448.49bn (£9.23bn) for the financial year 2012, up 33.6% on the previous year.Like-for-like sales grew by 8.5%, driven by 7.8% growth in basket size and a 0.6% increase in footfall.In contrast with 2011, hypermarkets outperformed supermarkets and convenience ...
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Spar reports net sales increase
Spar has reported a 3.8% net sales increase for the year to December 31, 2012 to CHF1.04bn (£705.4m).Net sales for the 170 Spar, Eurospar and Spar Express stores increased by 2.3% to CHF567m (£384.6m), despite prices being lowered by 1.2%.This year the retailer will open five new Spar supermarkets.
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Jerónimo Martins reports preliminary sales growth
Jerónimo Martins has reported preliminary sales growth of 11.5% to E10.9bn (£9.06bn) for the full year to December 31, 2012.Like-for-like sales increased ahead of the market, despite a difficult year in Portugal and a slowdown in the Polish economy.In Poland, Jerónimo Martins-owned Biedronka posted sales growth of 18% in local ...
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NewsThorntons total sales rise over Christmas despite like-for-like fall
Thorntons has reported an uplift in total revenue in the second quarter despite a slump in company-owned sales as the chocolatier continues to close stores.
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NewsN Brown sales like-for-likes jump 7.9% over golden quarter
Outsize fashion group N Brown like-for-likes climbed 7.9% over the 19 weeks to January 12 as it invested an extra £2m in customer recruitment.
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NewsBrand Alley completes management buyout and appoints new chairman
Fashion etailer Brand Alley has completed a management buyout backed by private investors from joint venture partners News International and Brand Alley France.
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NewsOcado sales surge over Christmas period and fourth quarter
Online grocer Ocado experienced a sales surge of 14.2% to £91.6m in the six weeks to January 6 on the back of soaring fourth quarter revenue, which jumped 12.4%.
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NewsHalfords like-for-likes flat over Christmas as it ups profit forecast
Halfords retail like-for-likes remained flat in the 15 weeks to January 11 as the cycle and car parts specialist upgraded its profit forecast for the year.
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NewsUPDATED: HMV suspends shares and confirms administration beckons
Entertainment retailer HMV has suspended its shares and revealed it is set to call in Deloitte, as it filed a notice of intent to appoint an administrator.
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NewsFormer retail analyst launches True Capital with £100m investment fund
Former retail analyst Matt Truman has launched a new investment fund set to plough £100m into retail and consumer businesses.
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NewsHobbs posts 16% Christmas sales rise
Hobbs has reported a strong Christmas with total sales up 16.4% over the festive period.