Latest finance news – Page 485
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NewsTesco records first quarter UK sales fall
Tesco described its first quarter performance as “robust” after reporting a 1.5% decline in UK like-for-like sales.
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NewsStewart Binnie takes up full-time role at Jaeger
Former Aurora Fashions president Stewart Binnie has taken up a full-time strategic role at Jaeger.
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NewsMarks & Spencer to create 500 jobs as it launches bank
Marks & Spencer is to create 500 jobs by the end of next year as it opens 50 banks in its stores within two years.
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Neiman Marcus posts total revenues increase
Department store group Neiman Marcus posted total revenues of $1.06bn (£670m) for the 13 weeks ended April 28 compared with $983.8m (£621.7m) in the corresponding period in 2011. Like-for-like revenues rose 6.7%. Operating earnings were $146.6m (£92.6m) compared with $123.2m (£77.6m) the previous year, an increase of 19%. Net profit ...
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NewsMarks & Spencer to open chain of banks
Marks & Spencer is to shake up the financial services industry with the launch of its own bank.
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NewsClinton Cards bought out of administration by American Greetings' subsidiary
Clinton Cards has been rescued out of administration by Lakeshore Lending, a subsidiary of Clinton Card’s largest creditor American Greetings.
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NewsJessops defies tough climate to record surge in profits
Cost control and margin improvement boost retailer despite tsunami impact on supply.
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NewsClarks profits hit by rising costs and promotions
Pre-tax profit at footwear giant Clarks dipped 2.4% for the year to January 31 due to a combination of high cost pressures and a rise in promotional activity.
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NewsTesco expected to report sales fall as its recovery begins
Tesco’s underlying sales are expected to fall in the first quarter, as chief executive Philip Clarke continues to drive his £1bn investment to help repair the business.
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NewsSports Direct leads race to buy Umbro
Sports Direct has emerged as the frontrunner to buy football kit maker Umbro after Nike put it up for sale last week.
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NewsHMV sells Hammersmith Apollo for £32m
HMV Group has agreed to sell its west London venue Hammersmith Apollo for £32m.
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NewsHomebase to launch ad campaign for Habitat range
DIY retailer Homebase is to launch a TV ad campaign to back the launch of its Habitat products.
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NewsAsos adjusts prices to keep shoppers on side
Asos is sharpening its UK prices to attract young, hard-hit shoppers.
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NewsHalfords upbeat despite 26.6% pretax profit plunge
Halfords is looking to “evolve” its strategy in the new financial year after posting group pre-tax profit down 26.6% to £92.2m for the year to March 30.
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NewsKingfisher first quarter profits slump as wet weather hits sales
B&Q owner Kingfisher UK & Ireland retail profit slumped 9.8% to £75m in the first quarter as wet weather hindered sales in the crucial Easter trading period.
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NewsClinton Cards deal to be struck within days
Clinton Cards looks likely to be bought out of administration by the end of next week if not earlier as would-be suitors jostle to take control.
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Co-operative Eroski reports net loss
Co-operative Eroski has reported a net loss of E36m (£28.8m), a 44% improvement on the loss of E64.6m (£51.6m) the previous year. The retailer has now made a loss for four consecutive years as it continues to be hit by high level of debt and a weak economic environment. It ...
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NewsMonsoon to overhaul top team as senior bosses exit
Fashion retailer also reviews costs and store portfolio to adapt to difficult market.
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NewsTopps Tiles pre-tax profits fall in first half but current trading improve
Topps Tiles like-for-likes slipped 4.7% in its first half as pre-tax profits dropped 22% to £7.2m.
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NewsLK Bennett secures funding for US expansion
LK Bennett has raised £16m of new funding to accelerate expansion in the US.