Latest finance news – Page 507
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NewsSuccess stories help sector to outperform
The bad retail news of the last week from retailers ranging from Alexon to Kesa was counterweighted by success stories from store groups including Debenhams and Kingfisher.
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NewsProfits surge at JD Sports
JD Sports has reported pre-tax profit up 20.6% to £20.1m in the 26 weeks to July 30 despite being hit by the August riots when £700,000 worth of goods was looted from 16 stores.
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NewsDebenhams to beat profit expectations after strong final quarter
Department store group Debenhams expects to report profits ahead of consensus expectations after a strong finish to its financial year.
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NewsAlexon moves forward with sale process
Troubled womenswear group Alexon has moved forward with its sale process and is considering an offer at a “significant” discount to the current share price.
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NewsFrench Connection sets sights on overseas growth as profits rise
Fashion group French Connection has posted a first-half profit after tax for the first time since 2008 and has flagged potential for further international expansion.
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NewsGeneral stores win out over the grocers
As hordes of shoppers flocked to the opening of Westfield Stratford City, showing that willingness to spend has not entirely evaporated, general retailers ended the week up overall.
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NewsSales continue to fall at Argos owner Home Retail
Argos owner Home Retail’s shares fell after a second-quarter update showing a continued like-for-like sales fall at the flagship chain and deterioration in trading at stablemate Homebase.
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NewsDixons’ Nordic business impresses
Electricals group Dixons showed off its Nordic business, Elkjøp, last week, when it hosted an analysts’ visit in Sweden.
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NewsProfit growth for Morrisons despite savvy shopper effect
Morrisons has observed the rise of the “professional” shopper in the face of the biggest hit to consumer spending power in a generation.
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NewsDiscounting hits Primark’s operating margin
Primark’s operating margin is expected to take a hit over the full year following a higher level of discounting on the UK high street towards the end of the summer.
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NewsMackays beats tough conditions to post profits rise
Mackays Stores, one of the UK’s biggest privately owned clothing retailers, has posted an increase in profits despite having to cope with rising commodity prices.
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NewsKingfisher first half profits soar
DIY giant Kingfisher group adjusted pretax profit soared 24% to £439m in the 26 weeks to July 30, with two thirds of profits coming from outside the UK.
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NewsDunelm profits up 9%
Dunelm has reported pre-tax profit up 9% to £83.6m in its full year results despite the challenging consumer backdrop.
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NewsComet deal uncertain as like-for-likes nosedive
Electricals retailer Comet suffered a 22.1% like-for-like sales plunge in its second quarter after suffering a double-whammy of harsh trading conditions and tough comparatives.
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NewsNext signals end of price inflation as profits rise
Fashion giant Next has reported a 8.5% rise in first-half profits and signalled an end to price inflation.
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NewsPrimark operating margins to be hit by high street discounting
Primark’s operating margin is expected to be hit slightly in its full year results after a higher level of discounting than is normal on the UK high street towards the end of the summer.
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NewsBoden profits surge 13% in 2010
Home shopping giant Boden like-for-likes grew 5% in first half of the year as it reports a profit surge in 2010.
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NewsAlexon calls in KPMG to advise on restructuring options
Alexon Group has appointed KPMG to advise on its restructuring options.
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NewsHMV confident of turnaround despite sales fall
Entertainment specialist HMV has posted a like-for-like sales fall of 15.1% in the first quarter but insisted that measures being taken to improve the business are bearing fruit.
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NewsInvestor worry grows as trading stays tough
Grocers, led by Tesco, bucked a gloomy market, but it was a poor week for general retailers as investors continued to wring their hands about general prospects, not helped when fashion group Alexon warned on profits.