Latest finance news – Page 509
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NewsMorrisons downgraded despite outperforming
Broker Oriel has downgraded Morrisons ahead of the grocer’s interims next Thursday.
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Analysts confident the only way is up for retail shares
Analysts believe store stocks are unlikely to crash further, despite big-name retail shares plunging last week, when specialist Topps Tiles also issued a profit warning.
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NewsBig names suffer amid tough trading concerns
Shop stocks were out of favour in the wake of a profit warning from Topps Tiles, with bearish notes on some of the sector’s biggest names and general heebie-jeebies about trading.
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NewsTrading fears as festive countdown kicks off
Retailers cautiously optimistic for Christmas sales, but deep fears about the run-up persist.
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NewsPIRC advises Sports Direct shareholders to block Mike Ashley deal
Sports Direct shareholders have been urged to oppose an £86.6m property acquisition from founder Mike Ashley by shareholder representative group PIRC.
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NewsWHSmith launches £50m share buy-back programme
WHSmith is to run another £50m share buy-back scheme this financial year following the success of last year’s programme.
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NewsOcado urged to shelve plans for second fulfilment centre
Online grocer Ocado should abandon plans for a £210m second customer fulfilment centre until it proves that it has a viable business from its first, according to a leading broker.
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NewsCredit insurers put value clothing retailers on watch list
Value clothing retailers are coming under increasing scrutiny from credit insurers as trading conditions remain tough.
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NewsTesco looks East for funds with 'dim sum' bond issue
Grocery giant Tesco has become the first international retailer to raise money in China with the issue of a ‘dim sum’ bond.
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NewsRetail shares slide along with market
General retailers were on the slide along with the market during the week, although the fall in grocers’ share prices was much less marked.
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NewsSuperGroup hires supply and sourcing experts to boost team
Fashion retailer SuperGroup has made two key appointments to support continued rapid growth.
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NewsDownturn finds H&T enjoying expansion
Pawnbroker H&T has given the green light to store expansion after its half-year profits jumped.
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NewsHome Retail shares dip as broker sounds alarm
Shares in Argos-owner Home Retail took a hit as broker Seymour Pierce switched its stance from hold to sell and argued a restructuring of the catalogue store business was likely.
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NewsMorrisons’ sales outpace rivals
Morrisons’ strong promotional stance has enabled it to increase sales faster than its rivals, according to Nomura analyst Nick Coulter.
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NewsSignet UK profit tumbles in second quarter
US jewellery giant Signet’s UK division saw second quarter net operating income plummet 40% to $2.8m (£1.7m) in a “challenging market”.
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NewsCountrywide seeks acquisitions as sales rise
Rural specialist Countrywide is on the look-out for acquisitions after maintaining retail profitability and increasing sales last year.
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NewsFloors 2 Go collapses into administration
Specialist retailer Floors 2 Go has been put into administration and part of the business has been bought by a new company.
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NewsCo-op profits and sales hit by tough climate
The Co-operative Group has suffered a fall in first-half profits and sales in retail conditions described by chief executive Peter Marks as “the worst I have seen in over 40 years”.
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NewsTopps warns on profits as shattered consumer confidence takes toll
Topps Tiles has issued a profit warning after a steep trading downturn in recent weeks.
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NewsStrong value proposition drives full-year profit at Fragrance Shop
The Fragrance Shop has reported that operating profit rose by 37.8% in its full year, driven by its strong value proposition.