Latest finance news – Page 524
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NewsWH Smith half year profits rise 3%
Bookseller and stationer WH Smith group pretax profit rose 3% to £64m in the six months to February 28.
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NewsDebenhams boss Templeman to stand down
Debenhams chief executive Rob Templeman is to retire later this year and hand the reins to his deputy, Michael Sharp.
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NewsAsos sales up 70% in Q4 driven by soaring international sales
Asos’ group sales soared by 70% in its fourth quarter driven by its growing international arm which overtook the UK for the first time.
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NewsJD Sports "extremely cautious" on outlook despite profits surge
JD Sports Fashion pretax profits surged 28% to £78.6m in the 52 weeks to January 29 yet the retailer remains “extremely cautious” on the outlook.
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NewsFlying Brands suffers difficult Q1
Flying Brands has suffered a difficult first quarter with like-for-like orders excluding businesses acquired in 2010 slumping 19.8%below last year.
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NewsManagement buys 144-store newsagent Rippleglen
Confectionery, tobacco and news business Rippleglen has been sold to its management, backed by Lloyds TSB, for an undisclosed sum.
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NewsOcado appoints eBay Europe boss to board
Online grocer Ocado has appointed an eBay boss to its board as a non-executive director.
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NewsGame to appoint former Ladbrokes boss as chairman
Game is set to hire Chris Bell, the former boss of Ladbrokes, as its new chairman.
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NewsRecord companies relax terms to help HMV cashflows
HMV suppliers are set to agree to slash upfront payments for CDs to help boost the troubled retailer’s cashflows as the possibility of pulling off a rights issue fades.
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NewsOddbins in administration following a thwarted CVA
Oddbins’ administrator Deloitte is in discussions with a handful of trade and private equity buyers to rescue the 89-store chain.
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Bad news hammers store stocks yet again
General retail stocks had a poor week as a raft of bad news from non-food retailers brought home just how tough trading is.
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Promotions hit Sunglass Hut’s profit margins
Sunglass Hut profits slumped in 2010 as its focus on promotions hit margins. Despite sales nudging ahead from £35.6m to £35.9m, operating profit dropped 16% to £2.6m.
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NewsHalfords Q4 retail like-for-likes down 6.8%
Halfords has reported a tough fourth quarter with retail like-for-likes down 6.8%, and the cycles and automotive retailer is implementing a share buyback programme of up to £75m.
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NewsFood inflation drops as grocers ramp up promotions
Food inflation dropped in March as grocers ramped up promotions, according to figures from the British Retail Consortium.
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NewsJJB Sports to improve 'retail basics' with £65m fundraising
Sports retailer JJB Sports has said its intended £65m fundraising will help provide management with greater operational flexibility and the money to fund to its turnaround plan.
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NewsM&S general merchandise suffers but food holds up
Marks & Spencer has reported a dip in general merchandise like-for-likes but food sales held up.
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NewsMidcounties Co-operative profits up 35%
The Midcounties Co-operative has reported a 35% increase in trading profit to a record £26m.
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NewsHMV gives Mamut 15 days to secure Waterstone's deal
Russian Oligarch and HMV shareholder Alexander Mamut has been given just 15 days to agree a deal to buy HMV’s bookselling business, Waterstone’s.
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NewsHMV issues another profit warning
Beleaguered entertainment and book retailer HMV has issued its third profit warning this year, but its lenders have extended the period over which its banking covenants will be tested by two months.
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