Latest finance news – Page 473
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NewsTed Baker posts first-half profits rise
Ted Baker has delivered a 10.4% profit before tax increase to £9.4m for the 28 weeks to August 11 as it opened stores in London, New York and Tokyo.
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NewsHalfords like-for-likes up 5.6% in second quarter
Car part and bike specialist Halfords has posted like-for-likes up 5.6% in its second quarter, reversing the decline it reported in the first quarter.
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News‘New chapter’ for Tesco pledges bullish Philip Clarke
Tesco group chief executive Philip Clarke aims to rewrite Sir Terry Leahy’s retail book as he opens a “new chapter” in the grocer’s story.
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Woolworths sells its Dick Smith electronics chain
Woolworths has sold its Dick Smith electronics chain in Australia and its Indian wholesale venture for a combined AU$55m (£35.4m).Private equity firm Anchorage Capital Partners was the winning bidder, paying an initial AU$20m (£12.9m).Additionally, Woolworths will sell Woolworths Wholesale to Infiniti Retail – part of India’s Tata Group – for ...
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NewsTesco adds its support to Fair Rates for Retail campaign
The UK’s largest retailer, Tesco, has backed the Retail Week and British Retail Consortium campaign for a rates freeze next year. The Government has reacted coolly however.
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NewsMatt Davies to become Halfords chief executive
Former Pets at Home boss Matt Davies is to become chief executive of Halfords, Retail Week can reveal.
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NewsPromotions drive sales rise at Findel
Home shopping group Findel has revealed robust trading figures for its retail businesses in the first half of the year following a troubled period for the group.
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NewsFlat food inflation surprises analysts
Food inflation has remained flat for the third consecutive month at 3.1%, surprising analysts who had forecast price increases due to large rises in commodity prices.
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NewsOptical Express subsidiary collapses into administration
Optical Express is to close 40 stores after plunging its subsidiary into administration in the face of a “significant economic slowdown on the high street”.
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NewsSainsbury's like-for-likes grow after 'unique' summer
Sainsbury’s reported an increase in sales and like-for-like growth in the second quarter aided by its Paralympic sponsorship.
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NewsDunelm like-for-likes up 3%
Value homewares retailer Dunelm’s like-for-likes rose 3% in the first quarter as it grew share.
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NewsTesco profits fall 11.6% despite Q2 sales growth
Tesco has reported its first decline in profits since 1994 after investing £1bn in its UK turnaround plan.
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Dia to take over troubled German drugstore chain Schlecker
Dia is taking over the Spanish division of troubled German drugstore chain Schlecker for e70.5m (£55.9m). The deal includes 1,127 outlets in Spain and 41 stores in Portugal, as well as four distribution centres, three in Spain and one in Portugal. Dia will also retain the 4,000 former Schlecker employees.The ...
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NewsBargain Booze posts profit fall despite sales uplift
Bargain Booze has posted a decline in pre-tax profits despite an increase in full-year sales.
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NewsDave Whelan and Decathlon still in the frame for JJB Sports stores
JJB Sports founder Dave Whelan and French sports retailer Decathlon remain in the hunt for former JJB stores after its collapse into administration on Monday.
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NewsClaire's Accessories sales slump
Claire’s Accessories UK sales fell 7.2% to £128.5m in the year to January 28, down from £138.5m the previous year, as the economic downturn reduced demand for its “discretionary” products.
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NewsJJB Sports collapses as Sports Direct acquires 20 shops
UPDATED: JJB Sports has collapsed into administration, with arch-rival Sports Direct acquiring 20 stores.
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NewsNew Look defies high street woes as profits rise 30%
New Look has defied tough consumer spending conditions to report a 30% increase in profit.
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NewsAldi profits rocket as shoppers feel the pinch
Aldi has recorded a 450% rise in operating profit to £103m as turnover rose 29% to £2.7bn.
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NewsRetail administration levels fall but Christmas fears remain
The number of retail administrations fell in the last quarter however fears remain that Christmas could send a number of retailers out of business.