Latest finance news – Page 470
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News
Carrefour to sell Malaysian operations to Aeon
Carrefour is selling its operations in Malaysia to Japanese retailer Aeon for E250m (£200.8m).Carrefour is the fourth-largest retailer in the country, with 26 hypermarkets and a turnover of E400m (£321.3m) for the year to June 30.According to Carrefour, the disposal reflects its strategy of “allocating resources to mature countries where ...
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NewsMarks & Spencer profits fall 10%
Marks & Spencer posted a 10% slump in pre-tax profit to £290m in the 26 weeks ended September 29 as the first quarter trading was hit by unseasonably wet weather.
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NewsGovernment pressured over business rates revaluation
Retail and property leaders are today calling on the Government to reconsider its decision to revalue business rates two years later than planned.
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NewsTwo thirds of retailers warn stores and jobs will be hit if rates rise
Seventy per cent of retailers believe another business rates rise would stunt job creation and result in less investment in new stores.
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NewsDeloitte 'urgently' seeks Comet buyer
Comet stores are to continue to trade for the time being and staff will be paid, administrator Deloitte has said.
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NewsUK sales surge at Ikea as £30m investment pays off
Ikea has outperformed the tough big-ticket market to post a 6.3% rise in sales as well as market share gains as the furniture giant revamps its estate to introduce in-store theatre.
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NewsPets at Home profits rise after success of in-store services
Grooming salons, microchipping and veterinary practices have helped increase like-for-likes.
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NewsMary Portas backs call to freeze business rates
High street campaigner Mary Portas has lent her support to the Fair Rates for Retail campaign calling for a freeze in business rates next year.
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NewsBlue Inc expects Christmas cheer as full-year profits soar
Young fashion group Blue Inc expects a strong Christmas trading period after posting soaring full-year profits.
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NewsAnalysis: Claire’s Accessories aims to improve performance
Claire’s Accessories will be seeking a strong Christmas sales performance after a tough year.
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NewsComet management confirms plan to enter administration next week
Comet’s management has confirmed to staff this morning that it plans to enter administration next week.
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News
Coles Group reports net sales increase
Coles Group has reported that net sales at its Coles division – food and liquor plus convenience outlets – rose 4.2% to Aus$8.44bn (£5.44bn) in the quarter ending September 30.Food and liquor sales were Aus$6.6bn (£ 4.25bn), up 4.9% on the previous corresponding period. Comparable food and liquor store sales ...
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NewsAdministration looms for Comet
Electricals retailer Comet is likely to file an intention to appoint an administrator as early as tomorrow (Thursday), putting 7,000 jobs at risk, Retail Week can reveal.
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News
Amazon records third quarter net loss
Amazon recorded a net loss of $274m (£170.1m) for its third quarter ending September 30, against a net profit of $63m (£39.1m) a year earlier. Sales rose 27% to $13.81bn (£8.57bn).It was Amazon’s first quarterly loss since 2003 and included a charge of $169m (£104.9m) related to writedowns at daily ...
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NewsNext sales edge up 2.7% in third quarter
Sales at Next rose 2.7% in its third quarter to October 27.
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News
Business rates dubbed the 'retail poll tax'
The chair of the All Party Parliamentary Retail Group has dubbed business rates the “retail equivalent of the poll tax”.
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NewsJoules returns to profit after restructure
Joules has returned to profit after concluding a restructuring programme and bolstering its senior management team.
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NewsMaplin secures £20m credit facility to fund expansion
Maplin has secured £20m of credit to fund its expansion plans for 100 new stores and an enhanced online retail offer.
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NewsNew Look reassures suppliers over financial position
New Look has written to suppliers to reassure them of its financial position following speculation it could enter administration.
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NewsOcado close to covenants breach, analysts fear
Analysts fear that Ocado could breach the covenants of its debt arrangements as it struggles with the cost of building a second warehouse.