Latest finance news – Page 528
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NewsOcado sales boost fails to convince the City
Ocado posted a first-quarter performance in line with City expectations, but some brokers continue to question the online grocer’s model.
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NewsBrokers believe the ‘worst is over’ for M&S share price
Brokers spotted opportunity in Marks & Spencer, despite evidence that clothing and general merchandise retailers continue to suffer tough trading.
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NewsControversial asset-based refinancing tops up TJ Hughes
Value department store group TJ Hughes has refinanced using an asset-based facility rather than conventional borrowing.
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NewsJJB meets its shareholders ahead of fundraising plea
JJB Sports chief executive Keith Jones has visited the US to brief big shareholders in preparation for the retailer’s next round of fundraising.
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Asda gets the go ahead from OFT for Netto deal
The Office of Fair Trading has ruled that Asda’s acquisition of Netto will not be referred to the Competition Commission.
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NewsAlworths forced to close store during rent dispute
Uncertainty still surrounds the future of variety store group Alworths, which is undergoing restructuring and a likely change of ownership (Retail Week, March 4).
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NewsLittle relief in sight as stores sector stays flat
The stores sector was flat as a Shrove Tuesday pancake - perhaps a better performance than might have been expected as the latest BRC sales data showed the worst growth in almost two years.
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NewsFlying Brands profits fall but sales nudge ahead
Multichannel retailer Flying Brands has reported a fall in group pre-tax profit but sales nudged ahead.
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NewsHome Retail lowers forecasts after dip in sales at Argos
Home Retail Group has lowered its year end forecast after Argos reported a dip in sales and trading conditions were more volatile than it expected.
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NewsMorrisons profits up and takes 10% stake in US online grocer
Morrisons has reported a rise in annual profits and taken a 10% stake in US online grocer FreshDirect to help it build its online food offer in the UK.
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NewsFood inflation stabilises
Food inflation has stabilised following sharp increases, as grocers gear up promotions.
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NewsSports Direct gets all-clear from SFO
Sports Direct has reported that the Serious Fraud Office has dropped investigations into any individuals connected to the retailer.
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NewsBurberry shares bolstered by Bulgari deal
Burberry shares soared after luxury goods house LVMH acquired accessories giant Bulgari with speculation that the luxury British heritage brand could be the latest to be snapped up.
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NewsJohn Lewis to raise £50m through retail bond
John Lewis Partnership, owner of the eponymous department store chain and grocer Waitrose, is to raise £50m through a retail bond.
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NewsOddbins drafts in advisers to consider future
Wine retailer Oddbins has drafted in advisors as it considers its options amid tough trading conditions.
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NewsOcado sales surge in first quarter
Online grocer Ocado has posted a sales surge in its first quarter, when its average basket size fell as shopping frequency increased.
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NewsAlworths in the balance?
Future unclear for ‘son of Woolworths’ as founder resigns as director and restructuring looms.
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NewsGloomy outlook as retail takes a bad turn
Primark’s unsettling update and a profit warning from HMV put the frighteners on retail sector investors and general stores were sharply down against a flat market.
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NewsDebenhams stands out as a buy
Broker Singer met Debenhams managment last week and reiterated its buy advice afterwards.
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NewsGrocers angry as UBS slams ‘unfair’ food hikes
Supermarkets could face a competition inquiry because of food price hikes according to investment bank UBS.