Latest finance news – Page 499
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NewsJaeger full year profits plunge
Premium retailer Jaeger posted a pre-tax profits plunge in its full year to February 28, 2011.
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NewsTesco defends Robbins shares sale
Tesco has refuted allegations that its chief operating officer sold £202,000 of shares in the knowledge the retailer’s stock market value was set to plummet.
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NewsEcommerce drives Ryman profits surge
Stationery specialist Ryman will continue to expand this year despite the tough economic conditions after delivering a strong full-year performance.
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NewsSuperGroup sets trend to cut prices but not quality
Other retailers poised to follow SuperGroup’s ‘sensible’ lead with lower prices.
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NewsFood retailers slide as sentiment worsens
As the Christmas trading statements started to come thick and fast, general retailers just about held their own against the market.
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NewsAsda outstrips rivals over festive period
A mix of advertising, promotions and vouchers brought success for Asda.
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NewsGame boss insists it has a future despite anxiety over convenant
Game chief executive Ian Shepherd has insisted the entertainment retailer does not face structural challenges that endanger its future, as he revealed a slump in Christmas sales.
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NewsOriginal Factory Shop reports festive growth
Value department store group The Original Factory Shop has revealed like-for-like growth of 4.2% in the five weeks to January 8 after womenswear and toys drove festive sales.
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News‘Mobile is the future’, says Shop Direct boss
Home shopping giant Shop Direct – which owns the Littlewoods and Very brands – expects half of all sales to come via mobile phones in the next four years following a mobile sales surge over Christmas.
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NewsPaphitis blasts private equity opportunism
Former La Senza owner Theo Paphitis has slammed private equity firms for their inability to get to grips with retail.
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NewsThorntons suffers poor Christmas performance
Thorntons failed to meet expectations as it endured a poor Christmas in the face of tough competition.
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NewsOcado enjoys late Christmas sales surge
Online grocer Ocado enjoyed a late surge in sales in the last week before Christmas, up 23.8% on the previous year.
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News
Merger announced for Shopko and Pamida
Shopko and Pamida, both owned by an affiliate of Sun Capital Partners, are to merge. The retailers expect the deal to close in mid-February, and financial details have not been disclosed. With Shopko and Pamida’s annual revenues of $2bn (£1.29bn) and $1bn (£647.4m) respectively, the companies will operate nearly 350 ...
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NewsPast Times closes 47 stores as it is granted breathing space from administration
Epic, owner of troubled gifts retailer Past Times, has another 10 days to conclude a deal or appoint administrators after it successfully applied for an extension on its notice to appoint an administrator as talks with interested parties continue.
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NewsBooths sales up as shoppers entertain over Christmas
Northern supermarket chain Booths has praised its ‘canny’ consumers following a 3% increase in like-for-like sales over the Christmas period.
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NewsSignet UK sales edge up 1.8% over Christmas
Jewellery giant Signet’s UK sales edged up 1.8% in the nine weeks to December 31.
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NewsRetail businesses in administration set to rise in coming months, warns BRC
The rise in business rates in April will fuel growth in the number of retail businesses going into administration, the British Retail Consortium (BRC) has warned.
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NewsHMV sales slump over Christmas
Entertainment retailer HMV suffered a sales slump over Christmas, although performance was better than when it last updated.
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NewsBlacks to be put into administration
Outdoor gear specialist Blacks Leisure is to be put into administration ahead of the sale of its assets.
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NewsClintons Christmas like-for-likes edge up
Greetings card retailer Clinton Cards like-for-likes edged up 0.4% in the five weeks to January 1 as a “renewed focus on the right customer offer and improved service” paid off.