Latest finance news – Page 472
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News
Fast Retailing reports net income increase
Fast Retailing posted a 31.8% increase in net income for the year ended August 31.The clothing retailer revealed that group net profit surged to ¥71.65bn (£568.6m) compared with ¥54.35bn (£431.3m) the previous year.Sales rose 13% to ¥928.67bn (£7.37bn) from ¥820.35bn (£6.51bn). Operating profit increased 8.7% to ¥126.4bn (£1bn) from ¥116.37bn ...
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News
X5 Retail Group reports net retail sales increase
X5 Retail Group reported a consolidated net retail sales increase of 10.4% to RUB115.88bn (£2.33bn) in its third quarter.The increase was driven by sales growth at Pyaterochka and to a lesser extent by store growth at its supermarkets and promotions.X5’s like-for-like sales in quarter three declined by 0.7%, driven by ...
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News
Migros Zürich to takeover German grocer Tegut
Migros Zürich, a co-operative of Swiss retailer Migros, is to complete a takeover of German grocer Tegut by January 2013.Tegut operates about 290 outlets in Germany. In 2011 it generated sales of e1.17bn (£944m). Migros Zürich said the takeover will strengthen its business.
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NewsRicher Sounds fortunes improve as profits rise
Richer Sounds has turned around its fortunes to report an increase in full-year profits.
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NewsDiscounting will not be as rife this Christmas, says N Brown boss
Home shopping giant N Brown is confident that discounting will not shape the golden quarter like it did last Christmas.
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NewsRetailers face £175m business rates bill as inflation rises 2.6%
Retailers face a £175m business rates bill next year as the Retail Prices Index (RPI) measure of inflation rose 2.6% in September.
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NewsN Brown optimistic about revenue growth despite profit fall
N Brown is positive about revenue growth driven by brands and online sales despite pre-tax profit slipping in the first half.
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NewsLike-for-likes inch up at Carpetright
Carpet and floor coverings specialist Carpetright’s like-for-likes edged up 0.6% in its second quarter.
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NewsThe Original Factory Shop posts 30% profit rise in first half
Value department store chain The Original Factory Shop has posted a 30% rise in pre-tax profit in its first half.
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NewsLike-for-likes slip at Wickes
Travis Perkins’ retail division, which largely comprises Wickes, posted a 7% slump in like-for-likes for the third quarter to September 30 as trade was disrupted by the Olympics and wet weather.
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NewsRetailers wait for news on £200m rates burden
Retailers will learn whether they face an extra £200m business rates cost burden on Tuesday when inflation figures are revealed.
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NewsUpdated: Abel & Cole acquired by Aunt Bessie's Yorkshire puddings owner
Organic vegetable box company Abel & Cole has been sold to William Jackson, the maker of Aunt Bessie’s Yorkshire puddings.
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NewsBurberry group sales up despite slowdown in UK
Luxury fashion retailer Burberry experienced a total underlying sales rise of 8% to £883m in its first half to September 30 despite a slowdown in the UK and China.
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NewsWHSmith chief executive Kate Swann to step down
WHSmith’s long standing chief executive Kate Swann is to step down from the retailer after nine years at the helm.
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News
PPR to sell Fnac book and electronics chain
Luxury group PPR plans to sell its Fnac book and electronics chain as well as La Redoute, according to the Journal du Dimanche.The retailer is forging ahead with plans to divest both retail divisions in order to focus on its core luxury goods business.
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NewsFood prices set to rise after poor harvests
Food prices look set to rise after poor UK harvests following recent wet weather.
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NewsZara's UK profits soar
Fashion chain Zara’s UK pre-tax profits soared 22% to £19.3m in its year to January 31 as it prepares to open its UK flagship store.
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NewsPhones 4U defies economy as profits rise
Mobile phones retailer Phones 4U has recorded an uplift in profits despite tough consumer conditions last year.
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NewsProfits climb at Abel & Cole as sale speculation mounts
Home delivery grocer Abel & Cole’s profits rocketed in the year to August 12 and a sale is thought likely.
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NewsUnited Carpets bought in pre-pack administration deal
A parcel of 73 United Carpets stores have been bought out of pre-pack administration.