Latest finance news – Page 476
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NewsJJB quarter-day rent fears quashed
Suggestions that JJB adviser KPMG is in a race against time to complete a sale of the troubled retailer before rent quarter day have been dismissed.
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NewsProfits leap at Laura Ashley
Fashion and homewares retailer Laura Ashley has reported first-half profits up 13.7% to £8.3m driven by its multi-channel strategy and a differentiated product range.
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NewsThorntons optimistic despite sales and profits fall
Chocolatier Thorntons has reported a fall in sales and profits as weak consumer spending hit the business, but chief executive Jonathan Hart expressed “cautious optimism” about the future.
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NewsBurberry suffers sales slowdown
Retail sales at luxury giant Burberry have slowed in the second quarter and full-year profits are now expected to come in at the lower end of expectations
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NewsSuperGroup posts like-for-like sales rise
Fashion retailer SuperGroup’s like-for-like sales rose 1.7% in the first quarter and it the retailer it is on track to achieve its financial targets.
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NewsFull-year sales surge 17% at Primark
Sales at value fashion giant Primark are expected to have risen 17% in the financial year about to end, parent Associated British Foods disclosed.
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NewsJon Moulton pulls out of race to buy JJB Sports
Venture capitalist Jon Moulton has pulled out of the running to buy ailing sportswear retailer JJB Sports.
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NewsAnalysis: Robert Dyas looks for growth and efficiencies under new owner
The hardware retailer has a new owner and is now debt free but profit margins need to improve.
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NewsDixons has "encouraging start" to its year as UK like-for-likes jump 7%
Dixons UK and Irish like-for-likes advanced 7% in its first quarter in what it said was an “encouraging start” to the year.
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NewsMorrisons half year like-for-likes slip 0.9%
Morrisons like-for-likes slipped 0.9% in its half year to July 29.
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NewsTesco plots online party food launch using its ‘dark’ stores
Tesco is planning a launch into the party food market with a new online delivery service as it takes on competitors such as Marks & Spencer, Sainsbury’s and Waitrose for a slice of the lucrative business.
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NewsBRC calls for business rates to be frozen in 2013
The British Retail Consortium (BRC) is urging the Government to freeze business rates next year as retailers brace themselves for another crippling increase.
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Harvey Norman reports net profit decrease
Consumer electronics specialist Harvey Norman described its year to June 30 as one of its most difficult.The retailer reported a 32% fall in net profit to AUD172.5m (£111.3m) compared with the previous year. The drop was blamed on soft consumer sentiment and discounting.Chief executive Gerry Harvey was more positive about ...
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NewsSports Direct shareholders reject Ashley bonus scheme
Sports Direct’s shareholders have not supported the proposed “super stretch” scheme which would have paid out a bumper bonus to Mike Ashley.
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NewsSports Direct sales surge as Olympics boosts sales
Sports Direct’s gross profit was up 20.4% to £211.1m in the 13 weeks to July 29 as the retailer “continues to go from strength to strength”.
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NewsThe Works reports strong sales growth
Discount bookseller The Works has continued the strong performance it notched up in the second half of last year with “positive” like-for-likes since year end.
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NewsTesco acquires ebook provider Mobcast founded by Andy McNab
Tesco has acquired ebook platform provider Mobcast for £4.5m as the grocers’ march on the digital entertainment market continues.
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NewsJJB suitors circle as Bill Gates faces £20m loss
JJB shareholder Bill Gates is facing a £20m loss after the struggling sportswear retailer warned investors its shares could be worthless.
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NewsJJB founder Whelan signals interest in up-for-sale retailer
JJB Sports founder Dave Whelan could step in to take over some of the retailer’s stores.
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Woolworths reports group turnover growth
Food and clothing retailer Woolworths reported group turnover growth of 11.8% to ZAR28.6bn (£2.15bn) for its financial year ended June 24. Operating profit was up 26.6% to ZAR2.7bn (£203.2m), and profit after tax increased by 25% to ZAR2.1bn (£158m).At Woolworths’ African food and clothing operations, total sales increased by 11.6% ...