Latest finance news – Page 484
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NewsAllders collapses into administration
Harold Tillman-backed department store Allders has collapsed into administration following “a marked downturn in sales”.
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NewsUnited Carpets begins store closure review
United Carpets is conducting a store closure review in the face of “extremely challenging” market conditions.
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NewsTesco acquires £10m stake digital music platform
Tesco has purchased a stake in digital music platform WE7 for £10.8m.
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NewsWilkinson pulls out of the running for Robert Dyas
Wilkinson has withdrawn its interest in bidding for hardware retailer Robert Dyas, it is understood.
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NewsIn-store experience becomes major focus for grocers
Focus shifts from space race to refurbishments in market share showdown.
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NewsCarphone Warehouse posts strong sales growth in new categories
Carphone Warehouse has reported strong sales growth outside its traditional category of mobile phones, but earnings at its core retail business were flat in a tough market.
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NewsWH Smith confident about full year despite sales fall
Bookseller and stationer WH Smith group like-for-likes were down 3% in the 15 weeks to June 9.
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NewsClinton Cards to abandon orange branding
Clinton Cards is to get the makeover treatment as new chief executive Dominique Schurman revealed plans to scrap the brand’s distinctive orange colour.
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NewsTed Baker looks to the Far East for overseas growth
Ted Baker’s expansion into the Far East is likely to be a “game changer” for the fashion retailer, according to analysts.
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NewsAmerican Golf returns to profit as new boss starts
Golfing specialist American Golf returned to profit in its full year. The figures were released as new chief executive former Best Buy UK marketing director Kevin Styles, took up his role.
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Grocer ITM reports like-for-like revenue growth
Grocery retailer ITM (Intermarché) has, after several years of struggling sales, reported like-for-like revenue growth of 3.1% to e19.2bn (£16.3bn) excluding fuel for the 2011 financial year. Like-for-like sales in the first four months of 2012 rose 7.9%.ITM’s hypermarkets outperformed its supermarkets in 2011, delivering a 3.9% uplift in sales, ...
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Toys R Us reports net loss of $60m
Toys R Us reported a net loss of $60m (£39m) for the quarter ended April 28 compared with a loss of $67m (£43m) a year ago, despite a 0.9% drop in sales, thanks to margin improvements and cost controls. Net sales totalled $2.6bn (£1.7bn), hit by a decline of 5% ...
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NewsBlacks losses will hit £10m this year, says JD Sports
Blacks losses will hit £10m this year according to its owner JD Sports, as group like-for-likes edge up 1.5%.
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NewsSainsbury's sales driven by Jubilee spending
Sainsbury’s recorded a 1.4% uplift in like-for-like sales for the first quarter as Jubilee spending drove sales.
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NewsFindel turnaround on track as pre-tax profit soars
Home shopping retailer Findel’s turnaround has started to bear fruit as pre-tax profit before exceptionals soared 53% to £10.7m in its year to March 30.
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NewsTed Baker remains cautious despite sales uplift
Fashion retailer Ted Baker delivered a “good performance in line with the Board’s expectations” for the 19 week period to June 9 but stressed it remained cautious of the uncertain economy.
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NewsSainsbury's buys HMV stake in e-book business
Sainsbury’s has purchased HMV’s stake in e-book business Anobii for £1.
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NewsMulberry expected to report 50% full year profit surge
Luxury accessories retailer Mulberry is expected to report a 50% surge in profits when it reveals its full-year results later this week.
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NewsLaura Ashley like-for-likes jump 5.4%
Laura Ashley UK like-for-likes grew 5.4% in the 18 weeks to June 2.