Latest finance news – Page 504
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NewsSainsbury's profits up 6.6% in first half
Sainsbury’s has reported “strong” sales with underlying pretax profit up 6.6% to £354m, excluding gains on property sales.
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NewsComet sold to OpCapita for £2
Turnaround private investment firm OpCapita has bought electricals retailer Comet from owner Kesa for £2.
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NewsThorntons FD to exit next year
Thorntons finance director Mark Robson has left the chocolatier after two years with the business.
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News£1 rents as landlords try to avoid business rates
Shops are being let for just £1 to retailers on some depressed high streets as landlords try and avoid paying business rates.
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NewsBest Buy UK big box stores to shut
Electricals group Best Buy is to close its big boxes in the UK and partner Carphone Warehouse’s will instead focus on developing its ‘connected world’ store model.
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NewsAll Saints full year profits plunge
All Saints profits plunged 9% to £21.5m despite soaring sales for the year ending January 2011, according to figures filed at Companies House.
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NewsHobbs profits soar on record sales
Upmarket womenswear retailer Hobbs’ pre-tax profits soared 137% on record sales in the year to January 29.
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NewsUncertain outlook knocks retailers hard
General retailers had a bad week as their stocks declined by twice as much as the wider market, which took a knock as the eurozone crisis dragged on and pundits argued over the UK’s economic prospects.
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NewsAsos half year profits soar 66%
Online giant ASOS half-year profits before tax and exceptionals soared 66% to £11.7m.
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NewsBlacks appoints Dominic Lavelle as interim finance director
Embattled retailer Blacks Leisure has appointed Dominic Lavelle as interim finance director.
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NewsFirst-half sales edge up at Boots
Health and beauty powerhouse Alliance Boots is on track to meet its financial targets this year despite tough trading conditions.
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NewsStore Twenty One to push trend-led fashion
Value clothing and homewares retailer Store Twenty One is to further increase its fashionability after its trendier lines helped it bounce back into the black.
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NewsDirectory sales power third quarter sales growth at Next
A strong third quarter performance from Next’s Directory business helped compensate for weak store sales and full-year profits are expected to be up.
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NewsBRC calls on Chancellor to tackle 2012 business rates in pre-Budget statement
Chancellor George Osborne must address significant business rate increases, retail jobs and improving access to overseas markets in his Autumn statement, the British Retail Consortium (BRC) has urged.
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NewsProfits plunge at JJB
Sports retailer JJB has suffered a slump in interim profits and poor second half trading has forced a re-budgeting.
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NewsNo respite for furniture retailers until 2014
Battered furniture and flooring retailers will not have any relief from punishing conditions until 2014 as the housing market remains stagnant.
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NewsStruggling Clintons suffers profit plunge
Greetings card retailer Clinton Cards has suffered a slide in full-year profits but is embarking on a turnaround programme and has agreed a credit extension with lenders.
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NewsBlacks like-for-likes plummet as turnaround plan is unveiled
Blacks like-for-likes plummeted 7.2% in its first half as new boss Julia Reynolds unveils her turnaround strategy.
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NewsMore bad news from Carpetright as sales continue to fall
Carpetright has announced a 5.2% fall in second quarter sales, and warned that full-year profits will come in at “the lower end of current expectations.”
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NewsRetail suffers as bad news hits confidence
The overall market was up but retail shares were down over the week, with a raft of bad news and concern about consumer confidence hitting the stores sector.